Micro and Macro Marketing Environment Essay
Sargeant and Jay (2004) stated SWOT analysis contains specific indicators as to the key determinants of success in the company whereas most authors defined the marketing environment comprising microenvironment …show more content…
No competitive marketing strategy is perfect for all companies, thus a company must identify an adaptable business strategy by considering competitors (Palmer, 2000). McDonald’s realised Vietnam was a risky market, because there were three big fast food companies (KFC, Lotteria and Jollibee) which had their own markets (Saigon Times, 2009). Moreover, McDonald’s got a foothold in the fast food marketing (refer to appendix 3).
By using the PESTEL model, we can analyse many different forces in a company's macro environment (Palmer, 2008). Successes in a difficult external marketing environment significantly depend on how well you use potential of the market and avoid the pitfalls (Gillespie, 2011).
The political forces are the less predictable factors that affect and limit a firm’s operations (Pride and Ferrel, 2010). McDonald's made trial evaluations in the mid-1990s but in 1996 postponed their plans because of an anti-Western political backlash in Vietnam (Sunday Times, 2004).
The economic situation determines some extent the success of organisations. The economic forces (including economic growth and unemployment, interest and exchange rates, taxation changes and inflation) have a vital influence on the