Marketing - Macro Environment
ANALYZING MARKET OPPORTUNITIES INTRODUCTION Chenoa’s Yoghurt is a new, family owned business, with its head office in Berwick, Victoria. The manufacturing of their new yoghurt products is estimated to hit supermarkets toward the end of 2008. The business has decided upon proper market analyses to ensure that they are up to date with the latest market trends, thus ensuring effective marketing of their products. Kotler, Brown, Adam, Burton and Armstrong (2007) defines marketing as “an organisational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organisation and its shareholders”(p.7). Hence, the goal is to deliver quality products, by identifying the needs and behaviours of target markets, selecting proper prices, and then to do proper communication to effectively promote and then deliver quality products. FOCUS ON THE IMPACT OF THE 6 MACRO-ENVIRONMENTS: The purpose of this marketing report is to discuss the impact of the 6 macro-environments on the ability of Chenoa’s Yoghurt to gain a successful entry into the competitive yoghurt industry. The aforementioned macro-environments refer to the latest trends in the following environments: demographic, economic, natural, technological, political and cultural. It is imperative that trends in these environments are properly researched to ensure proper and successful marketing of these new products - successful marketing of this product is vital to achieve the organisation’s goal in delivering quality products to specifically selected target markets. DEMOGRAPHIC ENVIRONMENT Kotler et al (2007) refers to demography as “the study of human populations in terms of size, density, location, age, sex, race, occupation and other statistics” (pg.169). The demographic environment is crucial to the success of the business as demography involves people, and people make up markets. The Australian population is...
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