Economic Factors That Affect The Macro Environment In Malaysia

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According to the marketing environment concept is made up by several actors and forces outside marketing that affects the marketing management’s ability to build and maintain successful relationships with target customers. Macro environment being the larger societal factors consists of demographic, economic, natural, technological, political, and cultural that affects the micro environment. Stable economic growth between years 1995 to 2015 has changed the macro environment in Malaysia and this has impacted on the country’s marketing activities. Marketing managers constantly scan the environment for opportunities and threats in an organisation. By doing this, it helps to spot opportunities and threats in the environment, and develop effective marketing strategies that are relevant to the company. The economic in Malaysia is rapidly developing as Malaysia is a middle-income country that has transformed itself from a producer of raw materials into an emerging multi-sector economy. By economic measures, high GDP rate means consumers salary is higher, expenditures are greater and economic activity is more robust. Based on the diagram, the constant increase in GDP per…show more content…
Besides, when more women in Malaysia work, cooking meals at home tend to lessen in which promotion towards ready meals tend to grow. This is because consumers in this referring to working women who have lesser time to spend cooking. Suppliers of these ready meals have an opportunity in this situations as working women become increasingly aware of the convenience of ready meal due to the quick preparation time, long shelf life and availability through many distribution

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