Global Marketing

2537 Words11 Pages
Critically analyse and evaluate the global macro environmental variables that are likely to have the most significant impact on your company.

Introduction
Fairmont Hotels and Resorts (Fairmont) is operating and competing in the hospitality industry, which has been affected vastly by the impact of global financial crisis, terrorist attacks, globalisation of the hospitality and tourism industry, the uncertainty surrounding the sovereign dept of some countries in EU, development of emerging markets, the rapid dissemination of global lifestyles and other economic and political uncertainties in the past few years. Fairmont is also affected by technological innovation as well as other broad macro environmental trends.

This essay will
…show more content…
Thus they face more complex and changing environments where they operate and compete than other industries. In order to survive and prosper, the essential is to take account of, and adapt to, fast changing environmental conditions. To see and take advantage of marketing opportunities while at the same time anticipating any threats to their business. By indentifying environmental trends soon enough, management should be able, at least in part, to anticipate where such trends are leading and what future conditions are likely to result from such changes. (Lancaster et al. 2002, Palmer 2008).

Explain how changes in the socio-cultural environment affect marketing decisions
The UK population will rebalance by 2015 – families will be the most prevalent group, and the retired will have increased in number fastest.
One-person households are set to increase fastest into 2015, following the trend witnessed into 2010.
Emerging markets where social exposure and status are important along with the rising income and relatively wealthy middle class. Mainly affect young people who have an above average need for social acceptance, and international travellers, who are exposed to multicultural values. Fairmont target market age group younger than used to be ....
Embracing social media is a key way

More about Global Marketing

Open Document