Macro environments relates to the larger forces that have an impact on society as a whole and not just on one or a few organizations. A single organization cannot usually have a significant impact on these forces and therefore can only adapt its marketing mix to account for the opportunities and threats that arise.
The company’s macro-environment consists of six major forces that impact on organizations. The six major forces are demographic trends, economic trends, natural trends, technological trends, political and legal trends, cultural trends. Not all of these forces may be having a significant impact on your industry at any one time. However, I can use these trends to improve my business and possibly gain a competitive advantage. 1.
Demographic trends- Demographic trends are those concerning the human population in terms of size, density, location, age, sex, race, and occupation. 2.
Economic trends- Economic trends are those factors that affect consumers buying power and spending pattern. When bad economic, economic become lower down, people tend to make less money. 3.
Technological trends- The technological environment consists of forces that affect new technology, technological improvements will become technological trends and influence casino business success. 5. Political and legal trends- Marketing decisions are strongly affected by laws, government agencies and pressure group in society. Trends in the legal and political environment include, increase legislation regulating business, changing government agency enforcement, and the growth of public interest groups 6. Cultural trends- The cultural environment consists of forces that affect society basic value, perceptions, preferences and behaviours
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