Macro Environment Factors

933 WordsNov 6, 20124 Pages
Macro Assignment Table of Contents 1. Introduction………………………………………………...3 2. Summaries……………………………………………….....3 3. Macro environment factors………………………………....4 4. Industry involved……………………………………….......5 5. Impact of the factors………………………………………..5 6. Conclusion………………………………………………….6 1.0 Introduction The purpose of this report is to demonstrate an understanding of the marketing macro environment. The proposed research question was: Identify the macro environmental factors and discuss the impact this macro environmental factors will have on the industry or organizations involved. Firstly, this report will summaries the article, identify and explain the issues written in article. Followed is…show more content…
In time of low inflation, business seeking to increase their profit margins can do so only by increase their efficiency. If they significantly increase price, no one will purchase their goods or services. In higher inflationary times, marketers use a number of pricing strategies to cope, and must be aware that inflation causes consumers either to build up or diminish their brand loyalty. Inflation pressures consumers to make more economical purchases, while still attempting to maintain their standard of living. (Lamb,Charles et al.,2009) From the article, the Australia local manufacturing industry was suffering as imports become extremely competitive and our exports more expensive. As same as the manufacturing industry, the local tourism industry also faced the international competitors. The original factor of this situation is the negative economic environment. Followed the inflation, the Reserve Bank of Australia tend to carry out the tight fiscal policy to control the economic environment. So numbers of experts indicated that interest rate would increase. With the increase of interest rate, the price of currency may tend to higher. High record of currency will lead to different situation in different area. For customers, this will be a good chance to buy import goods and services. But for local industries, marketing managers must try to collect and evaluate environmental information and then creating marketing strategies to cope
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