Macro environmental factors affecting fast food industry
Social media channels became the most important venue for engaging customers. Customers like being served with discounts.
Social factors affecting food business
With technology advancing, it helps food corporations reach consumers in new and easier methods. Bad news spreads like wild fire and can immediately affect your image. In their external environment there are many factors that influence growth and profitability. How these foods appeal to people is based on their branding look. Increasing hospitality from the staff and more delivery options for the consumers have brought them to the fast food industry in droves. A merger can also be helpful to a fast food chain when it needs to expand its consumer base, revenue, and hours of operation. The forces close to the organization that affect its ability to serve its customers is the micro-environment Kotler, et al, People are now more concerned about the global environment more than at any time before.
Like shops selling non-vegetarian burgers have to maintain the standard. The aim of the firm is Accelerating Global Knowledge Sharing.
The food which is prepared and served very fast is called fast food in my view. Jain, There are so many trends that have influenced the fast food chains. The pressure due to changing legal requirements has risen.
Nonetheless, this same external factor creates an opportunity for the company to improve its products. The environment consists of the micro-environment and the macro-environment. Further, in Germany fast food restaurants are required to specify on some nutritional factors for every meal served like levels of calories, sugar, saturated or unsaturated fat and salt levels in response to a food labeling initiative.
Legal factors affecting fast food industry
Some of the opportunities for growth that can be capitalized over the next five years include involvement in IPOs and private equity for restaurants to increase investments, expansion to foreign markets as food craving is on a high and more capital expenditure with the aim of expansion and remodeling. Fast food brands have become innovative in other areas too. Your time is important. Stanton, W. Media has played its own important role in creating this perception. The food which is prepared and served very fast is called fast food in my view. Targeting children and waste management were some areas where brands were forced to change their approach. Healthier alternatives to foods are pricier compared to fast food or easy-to-make meals. Ohio, U. McDonald s and Golli wada pav have cheaper meals Growing ethnic diversity Interstate immigration has led to an increase in ethnic diversity of India. Marketers need to be aware of the threats and opportunities associated with the natural environment Kotler, Fast food is very common in India now a days and all over the Word. If they are successful and there is a sharp rise in minimum wage, fast food profits could go down, thereby affecting other things, such as their menu prices. Shops now have to spend more on paper bags and other recyclable materials Greater concern for ethics Ethics are more focused on these days.
Other aspects such as political instability or instability in overseas markets, government policy, tax policy, labor laws, foreign trade policy, trade restrictions and environmental laws are also taken into consideration and must be adhered to by the firms.
This report is based on the analysis of the factors that affect the environment in which they operate and how they have to adapt their marketing strategies to particular conditions 2. Sincethe U.
based on 108 review