Outline the Components of Any Organization’s or Industry’s Macro-Environment, and Give an Example for Each Component of a Current Major Operational Change and/or Industry Trend.
The components of any organisations Macro environment must seriously be considered when any decision is to be made. This is called an environmental analysis. They are as follows;
Political: With politicians in charge of policy changes and some law changes on must look at policies in place and how they may affect the plan. Marketers must consider how stable the political environment is, the influence that politicians can have, Government trade agreements and taxations and government rebate policies. One thing that may affect an organisation in Australia is change of Prime Minister and their positions on issues. (Elliott,G et al 2010)
Technological: Technology is vital to the success and running of an organisation. An organisation must take into consideration where these technologies are located, who uses and sells the technologies, how easy they are to 1. Use and 2. Purchase and what the end result will be. These things must be taken into consideration so no money is wasted on something that may hinder an organisation. If using an uncommon technology (add on an iphone) some people may not see the advertising. (Elliott,G et al 2010)
Socio-cultural: one thing that has a huge influence on Marketing is socio-cultural factors. Religion, population trends, Culture, Subculture, values, attitudes and beliefs all effect what is acceptable and unacceptable when marketing a product and/or service. If you were a marriage celebrant specialising in GBLT commitment ceremonies you would not advertise this where GBLT couples are looked down upon, whilst they are becoming more widely accepted some culture and religions refuse to recognise these relationships. (Elliott,G et al 2010)
Economic: With an ever change in economy it is important to look at interest rates, economic growth, income levels, spending and saving levels, inflation, unemployment and exchange rates. With the $AU currently almost equal to the $US it is a good time for trade for Australian and American
Political: With politicians in charge of policy changes and some law changes on must look at policies in place and how they may affect the plan. Marketers must consider how stable the political environment is, the influence that politicians can have, Government trade agreements and taxations and government rebate policies. One thing that may affect an organisation in Australia is change of Prime Minister and their positions on issues. (Elliott,G et al 2010)
Technological: Technology is vital to the success and running of an organisation. An organisation must take into consideration where these technologies are located, who uses and sells the technologies, how easy they are to 1. Use and 2. Purchase and what the end result will be. These things must be taken into consideration so no money is wasted on something that may hinder an organisation. If using an uncommon technology (add on an iphone) some people may not see the advertising. (Elliott,G et al 2010)
Socio-cultural: one thing that has a huge influence on Marketing is socio-cultural factors. Religion, population trends, Culture, Subculture, values, attitudes and beliefs all effect what is acceptable and unacceptable when marketing a product and/or service. If you were a marriage celebrant specialising in GBLT commitment ceremonies you would not advertise this where GBLT couples are looked down upon, whilst they are becoming more widely accepted some culture and religions refuse to recognise these relationships. (Elliott,G et al 2010)
Economic: With an ever change in economy it is important to look at interest rates, economic growth, income levels, spending and saving levels, inflation, unemployment and exchange rates. With the $AU currently almost equal to the $US it is a good time for trade for Australian and American
References: ELLIOTT, G, RUNDLE-THIELE, S & WALLER, D, 2010, MARKETING 1ST edn, John Wiley & Sons Australia, Ltd