Assessment One - Analysing Marketing Opportunities
Serial is a Sydney based company that has just launched a new breakfast cereal called Calorie Crunch. Serial aims to provide a healthy and convenient breakfast cereal that would appeal to an older target market. Calorie crunch is a low carb, low fat and low calorie cereal that contains organic dried fruits to provide a healthier and more environmentally friendly option for breakfast.
The purpose of this report is to analyse the current and future trends in the macro-environment that will impact upon the product.
The macro environment is made up of any external forces beyond the company’s control that will impact performance and planning. The macro environment consists of six main forces; Demographic, Economic, Natural, Technological, Political and Cultural which will be discussed throughout this report.
Demographic environment
Demographics are described as use of statistics to study the size, density, age, sex, race or occupations of the human population. Calculating trends from demographics can help to predict future trends which will provide information on target markets and changing structures. For example one structure that was essential when choosing the target market for the cereal was the changing age structure.
The Australian Bureau of Statistics show that the people aged over 65 in 1970 made 8% of the population; this increased to 13% in 2001 and is expected to increase further within the next 40 years to a point of almost doubling to around 25%. This drastic increase in the people aged of 65 and over is associated with the decrease in birth rates and the increase in life expectancy. Due to the rise in the age market and the future it was important to aim the...
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http://lowfatcooking.about.com/od/healthandfitness/a/10foodtrends.htm
http://www.activehealthycommunities.com.au/content/case-study-how-market-healthy-foods-make-profit-0
http://www.health.gov.au/internet/healthyactive/publishing.nsf/content/eating
http://www.australianmade.com.au/benefits/
http://ama.com.au/node/3033
http://www.ncbi.nlm.nih.gov/pubmed/9561644
http://www.ecoliteracy.org/downloads/linking-food-culture-health-and-environment
http://doyourpart.com/eco-news/cereal-in-recycled-packaging-could-harm-health/
http://www.heartfoundation.org.au/INFORMATION-FOR-PROFESSIONALS/DATA-AND-STATISTICS/Pages/default.aspx
http://www.daa.asn.au/
http://www.foodstandards.gov.au/consumerinformation/fortification/
http://www.legislation.nsw.gov.au/viewtop/inforce/subordleg+250+2010+cd+0+N
http://www.comlaw.gov.au/Details/F2007C00749/Html/Text#param4
Jacobsen, L. A., Kent, M., Lee, M., & Mather, M. (2001). America's aging population. Population Bulletin, 66(1).
Demographic Issues relates to population issues which has a huge impact on businesses. It effects businesses because if the population grows bigger within the country and customers are demanding for availability in specific products and services, the businesses may not be able to gain availability from their suppliers. This could be because it is costing them too much and there maybe a lot of pressure on them too.
An aging population is indeed a problem for the society and will possibly cause many social and economic difficulties in the future. According to David Foot (2003), professor of Economics at University of Toronto, an effective birth rate of 2.2% against current 1.75% will be necessary to replace the current work force in the near future and the government’s policy of bringing in more immigrants will eventually fail (Foot, 2003, 2). However some people predict that the increased size of an aging population will drive growth in the home, health care, and many other industries resulting in job creation and economic growth (Marketwire, 2013, 1). Majority of the people are of the opinion that the issue will be mainly in the health care and economic activity. As humans age, they start to develop health problems, leading to more visits to a medical clinic putting extra burden on health care system.
1) Demographic is the statistics of the human population using variables such as age, income, education, religion ethnicity ECT.
In today’s society, what was once said to be true and taken as fact regarding older people is no longer the whole story. As Laslett states, “At all times before the middle of the twentieth century and all over the globe the greater part of human life potential has been wasted, by people dying before their allotted time was up.” (1989a), and to a great extent a lot
The increasing life expectancy in Australia has lead to an increase in the number of elderly people cared for in a nursing home. According
The Australian government will increase the age pension from 65 to 70 by 2035(Australian Department of Human services [AU]). This announcement has lots of challenges for Australian people who are under 50; some people support the rise and find it beneficial for the future economical life. However, others are against the announcement as it has lots of concerns for their future plan, as they have to work longer to save more for their retirement. The current population ageing put pressure on the young workers who support retirees and their families, at the same time it affect the economic development. So the rise of pension has advantages and disadvantages on the future life standard of most Australians. It is beneficial decision from the government to provide a productive and qualified future life.
The elderly is looked upon as the slowing generation, in terms of their deteriorating personal physical and mental health which restricts them from performing everyday life tasks before heading into retirement. With an estimated 20% of New Zealand’s population will be aged 65 years plus by 2026. There is also a huge part that society plays, which also affects them. These are known as social determinants. The social determinants of health are factors that influence the environment people are born into, live, work and age. This essay will be discussing three of these social determinants, income, housing and stress on the elderly population in New Zealand. More so, how these determinants impact on health inequalities, which are the differences
A country's economic environment plays a significant role in the success of businesses operating within that country. Countries with struggling or shrinking economies were not included in the top ten ranking. Economic indicators and trends selected for this analysis:
Marketing is a core pillar of an organization and contribute significantly in its prosperity through attaining the laid down targets as well as scope of development. The position of an organization is hugely based on its competitiveness and capacity to capture a significant portion of the market in relation to the prevailing needs of consumers. Interaction of the organization with the consumers and the potential consumer in the market arena is attained through the marketing wing of the organization (Ferrell& Hartline, 2012). The preferences of the consumer and avenues of satisfaction are aligned to the established marketing frameworks. However, the success of organization marketing is highly inclined to the marketing strategies formulated and adapted towards coping with competition and eventually enhancing firm competitiveness.
The changing business environment- highly competitive "global" product markets, an increasingly rapid advancements in Information and Communication Technology (ICT) and increasing capital intensity of production.
Loue, S. and Sajatovic, M. 2007. Encyclopedia of aging and public health. New York: Springer.
These factors are not controlled by the company. Some of the factors discussed here are: 1. What is the difference between a Macro environment 2. What is the difference between The Market 3. What is the difference between Competition 3.1.1 Macro Environment Macro Environment consists of Political (P), Economical (E), Social (S) and Technological (T) factors that affect the Company.
One must look at the economic environment and how it will affect the launch of the product. One must look at:
Macro-environment analysis: Opportunities and Threats PESTLE Analysis Market Analysis The overall industry saw a strong boom rate from 2010-2014. The global hotels & motels industry had total revenues of $677.1bn in 2014, representing a compound annual growth rate (CAGR) of 4.6% between 2010 and 2014. In comparison, the Asia-Pacific and US industries grew at CAGRs of 6.6% and 5% respectively, over the same period, to reach respective values of $163.7bn and $166.2bn in 2014 (Global Hotels & Motels 7). The reason for this growth is due to the Asia-Pacific Region and the Americas.