The final step of the macro environmental analysis is to summarize the identified opportunities and threats and determine if you should expect growth, stability or decline in the size of your industry. In the current business world, organizations are affected by economies throughout the world and not just the countries in which they are based or operate from.
As the graph shows, English is the main language spoken within the United States. On an international basis, it is best to perform the analysis on a country-by-country basis because factors can differ greatly between countries or even regions.
They would typically purchase brand name clothing and dress in the latest fashion as it would represent status and enforce their image.
The Role of Government Laws, regulations and other government policies can have a number of positive or negative effects on the retail industry. The Bureau of Economic Analysis releases a quarterly report on GDP growth that provides a broad overview of the output of goods and services across all sectors.
In addition there are a number of things you can do to improve the depth of your understanding of the macro environment. The macro political environment analysis will identify changes in the position politicians take on issues.
This trend should result in an increase in the total number of caravans sold — so if you are in the caravan industry based on this one trend you should expect to see growth in the total size of your industry.
They are tolerant of new ideas and allow freedom of expression. Changes in the structure of a population will affect the supply and demand of goods and services within an economy.
Inflation Inflation is a key factor watched by economists, investors and consumers.
Economic factors represent the wider economy so may include economic growth rates, levels of employment and unemployment, costs of raw materials such as energy, petrol and steel, interest rates and monetary policies, exchange rates and inflation rates.
They would value their clothing and think through the purchase before they buy. Legal changes that resulted from the rise of uber has seen the value of taxi plates decline significantly in some countries.
If you are in the greeting card industry and fluctuations in interest rates will not affect the size of your industry then you do not need to consider interest rates in your macro environment analysis.
An aging population is a demographic or social trend in many western counties which when combined with the trend of people living longer is resulting in an increase in the total number of retired persons.
Taboos There are certain types of fashion that are unacceptable within the workplace. E Analysis is same as the macro environment analysis but used the acronym P. They are employed based on merit and evidence on what they have achieved.
Their website offers a range of support for businesses who are looking at trading overseas.
The impact the products and services your organisations brings to market have on society must be considered. Socio-cultural factors represent the culture of the society that an organization operates within.
As consumers, they are less likely to buy impulsively and the best way to achieve fast product adoption is through referral or word of mouth. If an election is approaching you may look at the variation in policies from each party and assess the impacts on your industry of each parties viewpoint Economic Trends: Micro Environment Factors The suppliers:Macro-Environmental Analysis.
Let us write you a custom essay sample on in terms of political factors. As its market share is spread evenly across Europe, Mars benefits a lot from the trading agreements, including EEC, EC, EEA, as they further lower the tariff and create customs union (Brooks & Weatherston, ).
Movie Music Othello. Macro-Environmental Analysis of US Market Clothing & Fashion Industry Demographic Forces Current Population Size , Population Density inhabitants per square mile. Nike Macro Environmental Analysis Essay; Nike Macro Environmental Analysis Essay.
Words Apr 12th, 3 Pages. PA1: Nike - Environmental Marketing Analysis Mahendranath Gunti BUS - Marketing Management Macro-Environmental Analysis of Us Market Words | 16 Pages.
Environmental Analysis for Potential Markets.
Economic Conditions - Economic Environment Gourmet Lovers will be venturing its olive oil brands to the potential overseas market in Italy.
Gourmet lovers business enterprising in Italy is a great opportunity in enhancing the. PESTLE - Macro Environmental Analysis The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic, Socio-cultural, Technological, Legal and Environmental.
Effects from some of the market’s key factors influencing the macro environment include the following: The Bureau of Economic Analysis releases a quarterly report on GDP growth that provides.Download