Macro environmental factors essay

Most of these forces are both unpredictable and uncontrollable for a company, and may cause difficulties or low performance.

Macro environmental factors essay

Sample Essay on Environmental Factors Affecting Consumer Behavior Environmental Factors Affecting Consumer Behavior Consume behavior is affected by different environmental factors including Culture and societal environment Culture plays a crucial Macro environmental factors essay in determining the needs and behavior of a consumer.

It is good to note that as a person grows up, he or she is influenced by his friends, cultural environment, society and the family. Through the environment, an individual learns of certain values, preferences and adapts to common behaviors. Therefore, an individual is often likely to make decisions on products based on what he or she adapted to while growing up.

Social factors are classified into three including social roles, family and reference groups. A person is therefore influenced by the type of group he or she associates with, family background and the position a person holds in the family, club and country or in a group of friends.

Due to social setting, a consumer develops certain attitudes and perception over specific products. It influences purchasing decisions of many people across the globe. For example, a CEO of any company is often seen a rich and superior person. As a result, a CEO should live an elegant life; drive a big car and dress well to be taken serious by employees and clients.

The characteristics of each consumer determine whether a person will buy specific products or not. Personal factors include age and way of life.

Therefore, an individual can buy a specific product based on his values, environment he or she lives in, activities, hobbies and general lifestyle that one leads. One can choose to buy a specific phone model because of the kind of activities, hobbies or work related issues.

Therefore, a consumer will purchase certain products and services that he or she loves to identify with based on personal factors. Motivation is a driving force that drives a consumer to purchase a specific product or service to achieve satisfaction. Perception-this is the process in which a consumer settles for a product based on the information provided by marketers.

This will affect consumer behavior based on 3 major ways including selective attention, selective retention and selective distortion.

Macro environmental factors essay

Learning-this is a continuous process through action. When somebody acts, he or she learns. Therefore, a change in behavior often results from the experiences that a consumer goes through.

Learning is a process that changes the behavior of a consumer in the process of acquiring information. For example if a consumer had a good experience after using a certain product, he or she will often buy the same product for satisfaction.

What is a 'Macro Environment'

Attitudes and beliefs— a belief is a conviction while attitude is a feeling or predisposition to act in a specific way. Through beliefs and attitudes, consumers develop coherent behaviors towards specific brands thus influencing their purchasing decisions.

This paper was researched and artfully written by a writer at essayhomeworkhelp. We have a team of competent writers that deliver only successful essays.Macro environment factors essay.

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November 24, Estate tax research paper college essay ezessaysus papers papers term term term tison gang essay i like summer season essay fresh water shortage essay about myself, effectiveness of advertising essay. Macro Environment factors are derived from the economic and structural situation for each country.

The economic condition for the region where company considers its business has strongly influenced it. macro environmental factors Paper instructions: A key tool utilized by strategic Human Resources professionals is known as a PEST analysis (political, economic, social, and technological).

This tool provides a framework to think about over-arching macro-environmental factors. Business is affected by the external environment as it is by the competitors. It is important that firms are aware of the changes in the external environment to be successful.

Understanding the influence of Macroeconomic factors helps the firms to determine the current market. Macro Environment Analysis PEST Analysis Political: Nestle is a global company and in the food and beverage industry one of the most important factors . These factors are often classified as macro and micro, internal and external, technical and non-technical.

All the same, the sales, production and procurement of the business organizations, directly or indirectly depends on these factors.

Macro-environmental forces Example | Graduateway