Internal business environmental factors including functional areas of the organization, objectives of the organization, strength of the organization, problems of the organization, and human resources. Factors in the macro-environment have been identified as globalization, media and global brands/global marketing, while the factors in the micro-environment have been identified as social networks, personal history, symbolic meaning of products and glocalization. Ability to serve its customers is the micro-environment (kotler, et al, 2004) micro-environmental forces include the fast food shop itself, competitors - like mcdonalds and burger king, and publics - like banks and the media the macro-environment involves the larger societal forces that affect the whole micro-environment (kotler, et al, 2004.
Most important factors of micro environment of business are as follows: 1 competitors, 2 customers, 3 suppliers, 4 public, 5 marketing intermediaries, 6 workers and their union the micro environment of the organisation consists of those elements which are controllable by the management. Marketing environment consists both internal and external environmental factors affect the organization success business managers have challenges to develop such marketing strategies that minimize the risk caused by these macro factors both in present and future. Factors and 2) micro factors this next section first identifies the macro factors that contribute to restaurant failures followed by a description of micro factors that have been identified.
Burger king's long-term performance partly depends on the company's success in strategically addressing the issues identified in this pestel/pestle analysisthe external factors in the remote or macro-environment of the fast-food restaurant industry are significant influences on burger king's global business. The fast food industry generates about $165 billion in revenue annually, based on 2011 market research by ibisworld the research also indicates that about 184,200 fast food businesses operate in the united states meal prices affect consumers' restaurant choices in some economic climates. Such factors can be national level,regional level, and international level environmental forces these factors are also known associetal factors or macro level business environment factors in general, five forces aretaken as the general environmental factors namely economic, socio-cultural, political-legal,technological, and international.
Corresponding author email: [email protected] 20 international journal of management, economics and social sciences profitable food, beverage management, and industry and with a better understanding of these planning, defined the fast food in term of fast factors managers can increase the profits and food restaurant. From fast-food restaurants to car dealerships, there are decisions that must be made by business owners, and the decisions are usually influenced by an external force. Various macroeconomic factors that influence the business are: a economic growth economic activities refer to the level of buying and selling activities happening in an economy over a time period. A mcdonald's in zell am see, austria a pestel/pestle analysis of mcdonald's corporation shows growth opportunities and threats based on external factors in the fast food restaurant chain industry environment. Macro environmental factors potentially affecting financial sector chart 21 global economic growth rates 30 15 62 26 13 global prices of food and crude oil.
Threat: in spite of the growth and business of mcdonalds it can be said that the fast food industry segment is an intensely competitive industry where there are many regional as well as international brands are present which can lead to a lot of reduction in the market share of mcdonald's. Gy kadocsa et al macro- and microeconomic factors of small enterprise competetiveness - 24 - • organisation and operation • impacts of eu accession the majority of the companies involved in the research are medium-sized and. Economic downturns affect the restaurant industry, but fast food restaurants are less impacted because many people substitute fast food restaurants for more upscale choices in 2010, the economist reported that fast food chains were able to handle the 2008 recession better than pricier competitors.
Marketing environment refers to the external forces and factors that affect the company's ability to develop and maintain successful transactions and relationships with target customers marketing environment classified into two categories ie. Economic, social and technological macro environmental forces on pizza fast food industry in rawalpindi / islamabad and suggestions for improvement in their performance. List and describe the main forces in the macro-environment facing the fast-food industry forces in the macro-environment facing the fast-food industry political the government has more control over service industry than manufacturing industry.
Quick-casual growth the quick casual sector of restaurants is positioned to continue growing these restaurants are slotted between fast food and casual dining restaurants. The macro environment affects every business it consists of many factors that, if left unchecked, can destroy a business to reduce the effects of negative factors, you must first understand what macro environment analysis is and how to do it yourself. There are political economic, cultural and other factors too that impact the fast food industry these factors are analysed in detail below: (political): the political factors affecting fast food industry can vary from country to country compliance is of utmost importance globally, the fast food brands have to comply with these requirements.