LEARNING OUTCOMES
After studying this chapter you should be able to:
Explain how changes in the international and economic environments
affect marketing decisions.
Identify the major trends in the firm’s natural/physical and
technological environments.
Explain the key change in the pol...
LEARNING OUTCOMES
After studying this chapter you should be able to:
Explain how changes in the international and economic environments
affect marketing decisions.
Identify the major trends in the firm’s natural/physical and
technological environments.
Explain the key change in the political and cultural environments.
Identify social change in the environment.
, INTRODUCTION
The macro-environment consists of larger societal forces that affect the
overall micro-environment. The six forces that make up the enterprise's
macro environment include the following environments:
Technological: creates both opportunities and challenges.
Companies that don't keep up with technological change miss out
on new product and marketing opportunities. Today's customers
are looking for more value, better quality and good service at a
fair price.
Social: consists of institutions and forces that influence a society's
values, perceptions, preferences, and behaviors.
Physical: shows three main trends, scarcity of certain raw
materials, higher levels of pollution and more government
intervention in the management of natural resources.
Institutional/Political: Consists of laws, agencies, and groups that
influence or limit marketing actions. The political environment is
being influenced by: increasing legislation to regulate companies,
strong enforcement by government agencies and a greater
emphasis on ethics and social responsibility.
International: As South Africa is part of the global village, our
economy and businesses are directly affected by the economic
problems of other countries.
By now you should have realized that the macro environment is an
active force affecting every single company doing business in South
Africa and that no company, big or small, can ignore.
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