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Marketing Management Assignment | Macro Environment

   

Added on  2020-05-11

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Marketing & ManagementQ1. Fully describe macro-environment and explain the forces and the impact on business. 250Macro environments are influenced by 6 forces that includes demographic, Economic, natural,technological, Political and cultural with each having a direct effect on businessperformance[ CITATION DrK10 \l 1033 ]. Demographic – this monitors a market's population analysing and reporting factors such as age,sex, gender, race, occupation, and location among other factors. This delivers criticalinformation to the business which can be used to develop business plan for future productsdevelopment and service delivery.Economic – this analyses the consumer buying power based on the economic stability and percapita income. This factor plays an important role towards determining potential markets abusiness can target and those which offer more consumer interest towards the products andservices. Natural – this helps determine the availability natural resources required by the business tooperate and manufacture product or services. This factor plays an important role towards theviability of product development before expanding to new markets.Technological – these are forces this help create and improve products and help towardsmarketing and product testing. Technological forced have grown to become important towardbusiness development and must be included in the business's operations to ensure suitability andgrowthPolitical – these are referred to as the legal framework protecting the business and itsstakeholders by delivering legal frameworks businesses and stakeholders must follow. Stablepolitical frameworks attract more investors and businesses making certain economic morefavourable for future expansion.Cultural – refers to societal values include factors like customs, religious belief and views. Thisdata can be used to determine a product or services acceptance to a market based on the abovefactors.
Marketing Management Assignment | Macro Environment_1

Business must be able to analyse and address the above points to ensure they properlyunderstand targets markets before developing suitable plans to consider expanding to the market.Q2. Explain the opportunities and threats for soft drink manufacturer. 200Soft drink manufacturer takes several forms and has in recent years included a wide number ofbeverages making in a constantly expanding industry[CITATION Cha091 \p 223 \l 1033 ]. Someopportunities and threats linked to the soft drink manufacturing industry include:Opportunities:•Constantly expanding market•Consistent demand for the products•Increasing awareness and demand for health-promoting soft drinks•Global expansion opportunities•Unlimited scope for product innovation and developmentThreats:•Constant threat of imitation and similar products being developed•seasonal demand window in tropical markets (summer)•increasing number of competitors entering the industry•health-related concerns linked to soft drink consumptionSoft drink manufacturers develop and market new soft drink products on an annual basis toretain consumer interest. recent consumer trends and interest have been directed towards healthdrinks thus many soft drink manufacturers have turn towards developing health drinks with theobjective of tapping and retaining their clients.Q3. List and discuss the main bases for segmentation and requirement for effective segmentation(pg. 175 -184) 250 words
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