Marketing Management's Ability to Develop and Maintain Successful Transactions with Its Target Customers
"Macroenvironmental forces The larger societal forces that affect the whole microenvironment - demographic, economic, natural, technological, political and cultural forces."
- Kotler et al
Macroenvironmental forces need to be studied by organisations as they can both provide opportunities and pose threats.
The fast-food industry is a consumer service; two organisations that operate in the fast-food industry are McDonald's and Hungry Jack's. McDonald's was chosen because it is the primary operator in this market and holds the greatest market share. Hungry Jack's was chosen because the product they offer is the most similar to McDonald's. I thought it would be interesting to compare marketing strategies of two …show more content…
The changing family - Another trend in the demographic environment is the characteristics of families. No longer is mum, dad and 2.4 children the norm. The number of married couples with children is declining while the number of one person and single parent households is continuing to increase. Geographic shifts in population - As the population grows it also expands and shifts geographically. For fast-food services this means that they may need to shift location or open new stores to keep up with demand.
Increasing ethnic diversity - Overseas immigration has led to an increase in not only population but also the ethnic diversity of Australia. The impact this has on a market such as the fast-food industry includes understanding different cultures and tastes; Hungry Jack's have introduced promotions like the "Satay burger" to cater for Asian tastes.
2.2 Economic forces
"Factors that affect consumer buying power and spending patterns"