The macro environment consits of 6 different forces.
These forces are Demographic,Economic,Natural,Technological,Socio-Cultural and Political forces. • Demographic forceDemographic force is related to people.This force is a study of human population,size,age, gender, location and other statistics.
Knowing this information is important because their needs is the reason for businesses to exist.People are the main reason for the development of markets. The large and diverse demographics both offer opportunities but also challenges for businesses.This happens when the world population growth is increasing fast.The reason is that changing demographics mean changing markets.
Further, changing markets mean a need for adjusted marketing The world population is growing at an explosive rate and this is changing requirements for effective marketing strategies. The changing age structure of world population is another critical factor in marketing. In the future, there will be countries with far more favourable age structures than others.This may lead to harmful challenges regarding the supply of young workers. Also, families are changing which means that the marketing strategies aimed at them must undergo an adjustment. For example new format is being used instead of the traditional family that consists of a husband,wife and children but nowadays there are more married couples without children.
Even single parents are increasing.Another factor comes from the growing number of women working full time jobs.Changing family structures require the marketing strategy to be changed. Migration has a major impact on both the location and the nature of demand for products and services. The reason is that the place people can be reached has changed, as have their needs because of the new situations.
Other important factors are the ethnic diversity that provides new opportunities, as well as urbanisation.• Economic force