Internal factors – when setting price, marketers must take into consideration several factors, which are the result of company decisions and actions to a large extent, these factors are controllable by the marketer and, if necessary, can be altered. Macro- environmental factors effecting fast food industry amina samnani (asst prof) department of humanities, social science and management jdiet yavatmal ,amravati university ,(mh) india e. In essence social – cultural factors are the lifestyle of a group of people, their customs and their value system predominantly, the socio – cultural factors of a group of people is influenced by their religion other factors that can influence the socio – culture of a people are their language, the law of their land, politics and the. Types of economic factors that can affect the fast food industry by laura woods - updated september 26, 2017 in july 2013, ibis world reported that fast food sales in the united states generate an average of $191 billion per year in revenues there are nearly 150,000 fast food restaurants in the country, employing more than 36 million workers. Kentucky fried chicken, better known as kfc, is the largest chicken restaurant kfc is an internationally fast food industry in the world kfc began with colonel harland sanders, in america in.
2 david kipngetich chepkangor et al: effects of socio-cultural factors on consumer choice of commercial banks: a case of kenya commercial bank in nakuru town products as the first crucial steps towards the improvement of consumer satisfaction (rojid, 2007. These are all of the external and internal factors affecting a business there are seven internal factors that affect a business, these are: some internal factors that impact the business. In this article, we cover the topic of international marketing and explore 1) an introduction to international marketing, 2) factors to consider for international marketing and 3) a conclusion jet travel opened up the world to many people, and the expansion of the world wide web took that one step. As the new year begins, so does the business of planning for the upcoming year for most restaurants in the nation according to the national restaurant association, 2012 saw a slow but steady growth for the reportedly fourth consecutive year in industry sales for.
Political factors, in the context of the external environment in which a business functions, are a type of external constraint acting upon a business they're related to actions of governments and. Important factors ie price, social group, product features, brand name, durability and after sales services were selected and analyzed through the use of correlation and multiple regressions analysis. These factors examine the social environment of the market, and measure factors like cultural trends, demographics, population analytics etc for example: vits being located close to the airport gets the maximum sum of guests who are in for the business meetings and conferences. Our website is made possible by displaying online advertisements to our visitors please consider supporting us by disabling your ad blocker.
Technological factors, environmental factors and legal factors though a single organisation is normally unable to directly affect the external factors facing it, a conglomeration of companies can exert some pressure on these factors, particularly any political factors through the intelligent use of. Mcdonald’s pestel/pestle analysis (political, economic, social, technological, ecological, legal external factors in the remote or macro-environment) is shown in this fast food service restaurant chain business case study. Environmental factors affecting mcdonald’s management functions wendy’s, kfc and subway and also numerous small fish and chip and fried chicken establishments (raphel, 2014 np) it also faces competition from strong firms like starbucks, taco bell, technological advancements are affecting every aspect of the social and business. The fast food industry generates about $165 billion in revenue annually, based on 2011 market research by ibisworld the research also indicates that about 184,200 fast food businesses operate in.
Different organisations are influenced by different factors, but in common they are influenced by political, economic, social, technological, environmental and legal factors the response to these factors is determined by the organisation`s strengths, weakness, and managerial efficiency. Political, social and legal factors that affect mcdonalds fast food outlet (uk) and haveli restaurant (india) 1732 words jun 26th, 2012 7 pages you would hope that businesses all over the world would work to the best of their ability in order to be the best. Other social factors are consumer lifestyles, education, religion, and emigration china is a collectivistic culture, based on geert hofstede’s value dimensions the literacy rate in china is over 90% china emphasizes on education and majority of the nation are literate.