BusinessMarketing Topic: The diversity in language and communication is one of the greatest components of the culture.
One of such notable factors that plays a decisive role in the functioning of an organization is the socio-cultural environment of the region in which the organization is operating. Socio-cultural factors such as social attitudes, belief systems, education, law, politics, etc., have a bearing on the prospects of a business. Image caption Young adults dominate the McDonald's restaurants in urban India New markets, new customers The kind of customers McDonald's attracts in India is very different from other countries. The way that a UK McDonalds functions is very different to the way Haveli in India does, due to the political, social and legal factors that cause them do so. Political Factors The Government in the UK is relatively stable.
Such adaptation is essential to the long-term survival and growth of the business, especially amid aggressive competition. Governmental intervention can determine the rate and path of business development.
Nonetheless, this same external factor creates an opportunity for the company to improve its products. In relation, governments have evolving public health policies, which present a threat and an opportunity for the restaurant chain business.
Still, the business can improve through adjustments to provide more healthful options to consumers.
Economic changes directly and indirectly influence business performance. Nonetheless, the company has the opportunity to grow through expansion in high-growth developing markets, such as in Asia.
Social trends influence consumer behaviors and, in turn, affect the remote or macro-environment of the business in terms of revenues. This tendency is also linked to busy lifestyles in urban environments. Inability to do so can reduce the company profits.
The company has the opportunity to increase the healthfulness of its menu items. The company needs to address the following technological external factors: Also, the company can apply more automation to maximize productivity, based on the external factor of increasing business automation.
Furthermore, the business can improve its mobile services to reach more consumers via its mobile apps. Based on the technological trend of increasing sales through mobile devices, the company can expect revenue growth through mobile channels.
This company analysis examines the influence of ecological trends on businesses and consumers. The aim of these endeavors is to address the opportunities associated with the rising interest for corporate environmental programs, and the increasing emphasis on sustainable business practices.
On the other hand, changes in climate conditions in some regions threaten the company. Changes in legal systems and new laws shape the remote or macro-environment of businesses by imposing new requirements.
However, the same external factor creates an opportunity to improve the business by implementing a comprehensive animal welfare policy, which can attract more customers who are interested in animal welfare.
This recommendation also addresses the threat linked to the healthy lifestyle trend, and the threat associated with health regulations in workplaces and schools.
Also, the company can further diversify its supply chain to address the threat of changes in climate conditions in some regions.
It is recommended that the company increase its market penetration in high-growth markets. This recommendation also deals with the opportunity to grow based on rising disposable incomes in various markets around the world.
The strategic goal should include improving the environmental impact of the business, while strengthening the brand and consumer perception about the business.Originally Amit was the local partner in the south and west of India, running the chain as a joint venture with the global McDonald's company.
Later he bought out the McDonald's stake and now solely runs the chain in the south and west of the country. SOCIO-CULTURAL FACTORS AFFECTING CONSUMER BEHAVIOUR 97 97 Socio-cultural adaptations by McDonald’s and KFC McDonald’s in India: McDonald’s started its India operations in In beginning the Indian customers didn’t give chance to McDonald’s because they served beef in their burgers.
In India, cow is considered as sacred and. Image caption Young adults dominate the McDonald's restaurants in urban India New markets, new customers The kind of customers McDonald's attracts in India is very different from other countries.
Cultural factors affecting consumer buying behaviour: Cultural factors have a significant impact on customer initiativeblog.come is the most basic cause of a person’s wants and behavior. Growing up, children learn basic values, perception and wants from the family and other important groups.
To get a better understanding of the business environment in India, read on, as we analyze it through the PESTLE analysis of India. What is Pestle Analysis? It’s basically a framework used for scanning and analyzing an organization’s external macro environment by considering factors which include political, economic, socio-cultural.
However, the company did perform well at the initial years due to cultural mismatch between McDonalds who represents the American culture and the locals who epitomizes the India culture. To achieve greater results, McDonalds revamped its store outlets, reduced price by .