Marketing Situation Analysis Of Macro Environment Analysis Essay Example
Given the current economic uncertainty and reduced business owner confidence, Environmentalism must be mindful of the economic landscape and develop strategies to adapt to a changing market. Australia's economy performed better than expected in August, with resilient consumer spending providing some reassurance that the economy had partially recovered and the threat to the Australian economy had decreased. However, consumer spending is expected to slow down in the coming months, with growth projected for 2010 (Reserve). As a result, the uncertain economy will lead to a decrease in consumer spending and shift the target market for microwave ovens from a broad audience to a more specific one. Therefore, our company must implement manufacturing strategies aimed at minimizing costs and offering attractively priced products in order to remain competitive in this market. Effective marketing wi
...ll also play a crucial role in positioning our microwave oven as an essential rather than a luxury item during these challenging times. It is important for us to recognize that marketing activities can impact both the resources required by companies for production and those affected by marketing efforts within the natural environment (Kettle et al., 2007). Environmentalism should consider rising steel prices, which increased by nearly 50 percent in 2008 (Stunned).
The cost of raw materials and global demand are driving up prices, with steel suppliers taking advantage of the strong market to offset rising costs (Stunned). While microwave ovens require more stainless steel, a small amount of regular steel is also used. The company must consider the environmental impact if steel prices continue to rise, as it may affect their pricing strategy for microwaves. Environmentalism offers an opportunity to appeal to
a large target market. However, market research shows that there are significant annual expenditures on research and development for new products, leading to increased competition. By prioritizing research and development in their marketing plan, the company can maintain a competitive advantage; however, excessive investments in this area risk losing the benefits of competitive pricing.
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