• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Marketing Assignment - The Macro Market Environment

Extracts from this document...

Introduction

Andrew Galea MARKETING ASSIGNMENT The Macro Market Environment Before a Company launches a new product it must be aware of the environment that this will be introduced in. This is done to make sure that the product meets all expectations and respects the specifications that are needed to abide by the law. There are a number of factors, which need to be taken into consideration before a product is launched. One of these is the Macro-Market - the National Environment. This consists of the Political Environment, the Economic Environment, the Social & Cultural Environment and the Technological Environment, amongst others. One of the most meaningful aspects that must to be taken into consideration when introducing a new product into the market is the Political Environment. A Company wouldn't introduce a new product in a time of political instability, it would either wait for the waters to calm down, or it may have to be forced to choose another target market. ...read more.

Middle

Budgets, inflation, deflation and if he has a job and also the type of job, influence the consumer's income. The spending power of consumers who use their credit card frequently on the other hand would be affected by credit limits and interest rates. The economic situation in the country will help the Company decide on the terms of payment, credit limit, etc. The Social & Cultural Environment helps understand the behaviour of consumers. This includes 'values, perceptions, preferences and behaviours' - Kotler. This is significant because it helps the managers avoid any features in their product, which would not be accepted by the consumers in that particular country. This might be because it goes against their religion, culture or traditions. The Company might want to customise their product according to the country it is sold. For example, McDonald's serve corn soup and teriyaki burgers in Japan and pasta salads in Rome. While in India where cows are considered sacred, McDonalds sell Veggie Burgers instead of beef. ...read more.

Conclusion

The Natural Trends affect mostly the production and the marketing activities of the new goods. Trends in this environment include shortage or scarcity of raw materials and the increase in the cost of energy - which would alter the product's price. As the levels of pollution increase, the public, government and producers are becoming more environmentally aware. These trends are having a significant impact on organisation's marketing strategies. For example McDonalds is very keen on environmentalism. All its napkins, bags, tray liners, carry-out drink trays and even most of the stationery used at headquarters are all made out of recycled materials. Although it costs the company more than $1 billion to purchase recycled materials it helps keep the 'green' image which is so meaningful these days. The macro environment refers to the larger forces that have an impact on society as a whole and not on just one or a few companies. One single firm cannot usually make significant changes to these forces and therefore it can only mold itself around these forces and adapt its marketing mix to compensate for the opportunities and threats that may arise. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Global Interdependence & Economic Transition section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Global Interdependence & Economic Transition essays

  1. Discuss the impact of the Afghanistan conflict on the economy, society, political and environment. ...

    Afghanistan over the past years with the majority living in neighbouring countries like 1.5 million in Iran and more than 2 million in Pakistan. The huge influx of refugees has caused problems for neighbouring countries like Pakistan which are often LEDC and are forced to cope with additional people.

  2. Legoland's main target market is families with young children.

    Legoland has also a better catchment area then Paulton Park. Legoland is very close to London, the capital of England also only 12 miles away from Heathrow airport. Also Legoland has many attractions nearby as it is situated in Windsor, which is a very popular tourist attraction.

  1. 'There is nothing in the Montessori prepared environment that is there by chance.' Discuss.

    (Social, spiritual, physical) * A bathroom fitted with child size toilets and wash basins * The children will be able to use the toilet and wash their hands without having to wait for an adult to assist them. (Social and physical)

  2. The Board of directors of Barclays have asked me to submit a formal business ...

    Barclays as a financial institution works within the political scenario across the 60 countries practically covers the various types of political regimes that we talk about in the current global scenario. Barclays has grown from a group of English partnerships to a global bank in Europe, the USA, Latin America, Africa, the Caribbean, Asia, the Middle East and Australia.

  1. The External Marketing environment

    Well planned strategies can fail in cases where a country or region goes through a rapid economic decline. As incomes drop, spending patterns will shift. Interest rates and inflation also influence spending patterns. Changes in economy are often followed by fluctuations in interest rates, which change the price borrowers pay for products.

  2. Does the Environment matter to Sociology?

    Yet his historical investigations...yielded little direct study of the historical impact and social implications of differing natural environments.' Throughout his work Weber's theoretical reflections on the environment go little further than a few brief paragraphs in 'Economy and Society', 'in all the sciences of human action, account must be taken

  1. Tourism and the Environment

    * minimizing human - wildlife conflict. * Developing and promoting sustainable nature-based tourism. * Maximizing community participation in tourism development. The concept of Beach Management Programme has been implemented along the Kenya Coast so as to ensure that the beach is developed and managed as an integrated ecosystem for recreation and conservation purposes.

  2. Human Environment

    GDP: Gross Domestic Product. HDI: Human Development Indicator is calculated by using GNP and a variety of other indicators to give a more accurate measure of development. * Poorer countries usually have more subsistence farmers (grow crops just for their family to live on - little or no profit involved).

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work