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Assignment on
Elements of MacroEnvironment & its impact over marketing of Bangladeshi goods & services.
Submitted to
Md. Omar Faruque Course Instructor/ Lecturer, Department of Finance, Faculty of Business studies Jagannath University, Dhaka
.]
Submitted by
Sultan Ahmed Khan Representative of the group Epimetheus BBA 3rd Batch Department of Finance, Jagannath University, Dhaka.
Group Name: Epimetheus Group No: Name of the members of the group:
Serial No: 01 02 03 04 05 06 07 08 09 Name of the members of the group Sultan Ahmed Khan Md. Mynul Islam Sharjil Ahmed Anik Mahmud Mamunur Rashid Md. Mofazzal Hossen Nusret Jahan Nupur Mahmuda Akter Tonny Protiva Talukder Roll Number 091597 091633 091623 091636 07882747 091615 091519 091571 091602
Contact
Sir, We are the students of dept. of finance (3rd batch) of Jagannath University, Dhaka. We are very much enthusiastic about our assignment. We are really happy to have such an assignment of challenging and interesting like this. Our presentation topic is `Elements of Macro environment and its Impact over marketing of Bangladeshi Goods and Services. There were some obstacles we have faced at the time of collecting data about our topic. But we overcome all the obstacles by the endeavor effort by each member of our group which gave us a new experience. We also meet with some special important personalities like businesspersons, scholars, executives of this country who helped us by giving a lot of information regarding our topic.
We the group Epimetheus tried our best to make this assignment attractive, impeccable, interesting, informative and enjoyable by the help of electronic and print media in association with our honorable teacher, mentor, counselor, instructor and advocate Md. Omar Faruque. We are really grateful to him. We had limitations at the time preparing presentation. So mistakes may occur in our demonstration of our presentation. We hope that, you will exempt our mistakes.
Thanking in anticipation, Yours Fidel, Sultan Ahmed Khan Group Leader, The Epimetheus- Group.
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Subjects Objectives of The Study The marketing environment Macro environment Elements of macro environment Impact of demographic environment Impact of economic environment Impact of natural environment Impact of technological environment Impact of political environment Impact of cultural environment Methodology & Source of information Acknowledgement Appendix
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To define marketing environment, macro environment Classification of marketing environment Elements of macro environment Impact of macro environment in BD goods & services. Impact of macro environment in total marketing system.
The actors and forces outside marketing that affect marketing management ability to build and maintain successful relationship with target customers.
The environment continues to change rapidly and both customers and marketers wonder what the future will bring is called marketing environment.
The environment, where found consumers, marketers, marketing researchers, marketing intelligence and some other engaged in marketing process & goods or product is being supplied, is known as marketing environment. The entire marketing environment can be classified into 2(two):
Macro- Environment
The company and all of the other actors operate in a large macro environment of forces that shape opportunities and pose threats to the company is known as macro environment.
Six largely uncountable external forces influence an organizations marketing activities and shape opportunities is known as macro environment.
Major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic, demographics, legal, political, and social conditions, technological changes, and natural forces is known as macro environment.
A factor that influence a company's or product's development but that is outside of the company's control is known as macro environment.
For example, the macro environment could include competitors, changes in interest rates, changes in cultural tastes, or government regulations
In a whole we can say that the factors that are major part of the company & uncountable factors which influence an organizations marketing are known as macro environment.
Elements of Micro-Environment
Demographic Environment
Demography is the study of human populations in terms of size, destiny, location, age, gender race, occupation and other statistics. The demographic environment is of major interest to marketers because it involves people.
Economic Environment
Marketers require buying power as well as people. The economic environment consists of factors that affect consumers purchasing power and spending power/ patterns. Marketers must pay close attention to major trends and consumers spending patterns.
Natural Environment
The natural environment involves the natural resources that are needed as inputs by marketers or they are affected by marketing activities. Environmental concerns have grown steadily during the past three decades. Marketers should be aware of several trends in the natural environment.
Technological Environment
The technological environment is perhaps the most dramatic forces now shopping own destiny. Technological environment involves forces that create new technologist creating new product and marketing opportunities.
Political Environment
Marketing decisions are strongly affected by developments in the political environment. Political environment consists of laws, government agencies, government itself and pressure groups that influence or limits various organizations and individuals in a given society.
Cultural Environment
The cultural environment is made up of institutions and other forces that affect a societys basic values, perceptions, preferences and behaviors. There are few cultural values which affect marketing decision making. These are, persistence of cultural value, shifts in secondary cultural value, people views of organization/ others, etc.
our time but those things created market for the product and the marketers getting benefit from their work and growing rapidly.
In market not only people but also their buying ability is needed. Because buying ability less market is for nothing. And buying ability rely on peoples earning condition, price of a product, savings and debt facilities. At the time of doing marketing strategy one must remember the shift of earning as well as the spending. And by analyzing these one should make their marketing policy. How economic environment effect marketing decisions are given below:
Changing Income
Though our per capita income grows but customers real purchasing power falls for 3 decades. Increase rate of inflation, increase rate of unemployment, taxes, economic uncertainty also responsible for the downward shift of economic condition of customer. For trade and foreign support some peoples purchasing power are increasing but limited earned peoples condition getting worse day by day. In terms of Bangladesh, the farming products price is not increasing keeping pace with the industrial product so the farmers condition are getting worse day by day. In future price may increase so people tend to buy product and storage. For this reason multinational companies are applying effective techniques for rural class people. Radio advertisement, mini pack of product, buy at installment etc. are the major example of this initiative. For example, people of Bangladesh are buying color TV rather than black and white TV, they buying refrigerator, air conditioner, and cars like Lexus etc which denotes their level of income increasing and the preferring higher standard of living. Now big companies are in market they offering higher remuneration to the people who are searching for job. These people are joining there and increasing income which results in a market with a high rate of cash flow.
We can say that now those demographic and economical environments help to take marketing decisions.
Increase of Pollution
Some industrial activities are undoubtedly harming the nature. The filth of factories consisting of poison is polluting both soil and water. As a result taking food seems threatening. As example- the effect of uranium blast of Chernobyl is still active. Now people are unwilling to take some type of food. In Bangladesh the growth rate is too high to describe.
So, marketing manager must pay attention to natural situation at the time of using asset. In near future government and naturalist will enforce more pressure. Marketing manager must obey them and come forward to solve natural problem.
Unlimited Opportunities
There lie unlimited opportunities for inventing new technology. Mans are trying to invent following services: Use of solar power Anti-biotic of cancer Precaution for AIDS Electric cure system
All of these are mostly safe in terms of technology. The main purpose of that is reducing the production cost. In marketing, one of the topics is Thinking about others. If all use the unlimited opportunities of technology one must use this to market his/her goods in BD. If all of these prove as a best one should use the technology to minimize the production cost & market the goods in Bangladesh in a short time.
Bangladeshi marketing system are influenced by the following act Patent act-1911 Design act-1911 Trade mark act-1940 Bangladesh agriculture foods market control act-1964 Bangladesh pure food product section-1959, etc
All of these have a great impact in marketing a new goods/ services. Marketers have to open eye relating to law when launch a new product or even services.
In the marketing system public interest group is now one of the major one. They increase the consumer power & rise voice against unfair activities. In Bangladesh there has some agencies but the major one is Consumer Association of Bangladesh (CAB). In general they work for consumers well being. These groups also have an impact in marketing goods. All of these types of group are formed only for save the consumers from the unfair business man. They publicity the consumer laws in a worldwide for increasing awareness among the customers.
Sub-cultures
Every culture has some sub-cultures. People of sub-cultures belief, ethics, attitude etc are like to be core culture but they have secondary beliefs. Like rich people. They have different
thinking from the other people and they have different life style. They like to present them as different from others.
Marketers produce and serve or sell their product to the customers based on self-views.
and well received. Waving green and red can prove tricky. Markets must take care when responding to such strong natural emotions.
So, cultural environment is very much important for a marketer, who works in countries like Bangladesh, to observe and work with it. Peoples demand depends on it. Marketing of drinks like vodka is not possible in Bangladesh as Russia because of this countrys peoples cultural point of view. So, to generate profit and capture the market marketers should observe the cultural influences and the basic factors of a culture.
Methodology
We have collected our data & information from internet sources like Wikipedia, Books of Business, Business dictionary collection for students and other related sources. We also collected our information from our text books named Principles of Marketing By Philip Kotler, Gary Armstrong & other renowned writers books.
Sources of information
Basically we have collected our information from different kinds of educational websites. Among those we used Wikipedia as a major website for this assignment. Our assignment is constructed based on secondary information. So information given here may be inaccurate.
MD. Omar Faruque, Course Instructor/Lecturer, Department of Finance, Faculty of Business Studies, Jagannath University, Dhaka.
The information/ data collected from the magazines related to communication process and also from the internet. We especially browsed www.businesswikipedia.com. Beside this, we also browsed www.google.com/macro+environment; www.google.com/ME; wekipedia.com to collect more information about this topic.