Research Assessment

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Introduction-:

1. Macro environment-:

2.1 Demography

2.2 Economic Condition

2.3 Competition

2.4 Social & Cultural Force

2.5 Political & Legal Force

1.6Technology

2. Micro-environment (Internal Factors)-:

3.6 Suppliers

3.7 Customers

2.3Competition

3. Conclusion-:

4. Reference-:

Abstract

Tourism and hospitality industries are influenced by various factors in order to get success. No matter it’s a new or on-going business, managers always need to concern with company’s external environment as well as internal when making any decision. There are so many barriers must cope of with a business to get success.

Introduction

Decision is one of the major contributor to success each particular business. Every single decision will determine how success business would be. However, there are so many factors need to consider when participating in decision making process. Different types of companies are facing various impacts according to their business volume and target market. Some external macro environments are influenced large in volume and others microenvironments are influenced particular business’s circumstances, they would be internal or external but, directly impact to specific market segment (Kotler, P. et all, 2010). Moreover, they explained those two environments are essential for decision making process particularly in hospitality industries which have intangible services in many departments, in order to be successful as a business managers must up to date with all factors.

1. Macro environment

“Primary uncontrollable factors that influences an organization or company’s decision making and affect its performance and strategies, these factors include demographic, economic, legal and political, social condition, technological changes are macro environment (businessdirectory.com, 2010).” It is a market condition of a business has out of controlling circumstances but has to co-operate with those elements to get success, Collins, G.(2003), in addition to that, he indicates macro environments are global phenomena for hospitality industries because of services industry where people’s behavior, income and participation play the vital role.

1.1 Demography

Demography is a human statistic data in terms of size, density, location, age, gender, race, occupation (kotler, P. et all, 2010, pp.93). furthermore, As a marketing analyzer those data are important in order to decide what types of business are exiting in the market, how to get the target market and what are possible changes would be occurred in future. As a manager or business owner has to consider in decision making process, particular change in group of people or human behavior will influence to the company or not. Kotler, P. and G. Armstrong (2004) explained cultural diversity is another issue to influence diverse market segment, in terms of marketing approach that is a tool to segment the market and provide the services and products. For example, chicken curry and ‘Naan’(Indian traditional Bread) are very popular in European or Australian market therefore, Indian restaurants are succeed in their market due to Indian immigrant. 1.2 Economic Condition

Market is a platform where people have been provided services and products exchange with money. Economic condition is a capacity or wiliness to spend the money in it. Therefore, people’s income status is very essential to keep business moving ( Rix, P.2009). Economic condition is also refered consumer purchasing capacity and level of disposable income (Kotler, P et all, 2010). In addition, changing income status and global economic condition will need to consider while deciding in hospitality business. Hospitality services are leisure activities people are not willing to spend in the weak economic condition, so that, opening a new hotel / spa cannot make desire profit....
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