Macro environment Essay
Our product and all of the other actors operate in a large macro environment of forces that shape opportunities and pose threats to the company is known as macro environment. Six largely uncountable external forces influence our product’s marketing activities. And also it influences decision making, and affect its performance and strategies. These factors include the economic, demographics, legal, political, and social conditions, technological changes, and natural forces Elements of Macro-Environment:
Demography is the study of human populations in terms of size, destiny, location, age, gender race, occupation and other statistics. The demographic environment is of major interest to marketers because it involves people.
Marketers require buying power as well as people. The economic environment consists of factors that affect consumers’ purchasing power and spending power patterns. Marketers must pay close attention to major trends and consumers’ spending patterns.
The natural environment involves the natural resources that are needed as inputs by marketers or they are affected by marketing activities. Environmental concerns have grown steadily during the past three decades. Marketers should be aware of several trends in the natural environment.
The technological environment is perhaps the most dramatic forces now shopping own destiny. Technological environment involves forces that create new technologist creating new product and marketing opportunities.
Marketing decisions are strongly affected by developments in the political environment. Political environment consists of laws, government agencies, government itself and pressure groups that influence or limits various organizations and individuals in a given society.
The cultural environment is made up of institutions and other forces that affect a society’s basic values, perceptions, preferences and behaviors. There are few cultural values which affect marketing decision making. These are persistence of cultural value, shifts in secondary cultural value, people views of organization and others.
“Environment factors that affect our green product”
I. Population growth and age structure.
Changes in demand patterns of products.
II. Family structure changing.
Changing household’s patterns. People are thinking of saving time, Increasing dual income families. Multiple tasks at one time. Part-time jobs and business.
III. More education
Knowledgeable people are tending to use more inconvenience and useful things.
price & service opportunities of GNP
Social and cultural effects:
Social organization such as family, school, temple and culture of the society shape, beliefs, norms, values, and behavior of people should take into an account before the launching of our product. Majority of people are influenced by their culture. Therefore when we trying to satisfy customer needs have to consider these factors and objectives should match with them.
should be up to date.
Political – legal effects:
Business regulations influence and limit the behavior of Rules individuals and organization. Government Policies
Conan is a green product
Law tax rate Public acceptance Easier to launch Emphasis on ethics & social responsibility
Impending of storage of raw material
Increased cost of energy
Increased levels of pollution
Government intervention in natural resources management
Conan is a green concept which provides energy saving system and lightning system without any capital expenditure. This encourages deployment of energy – efficient products. And also it is a disposable product.