Marketing essay analysis: Macro environment analysis of luxury cars

Q?? Write on the macro environment analysis of luxury cars??Solution:

The Macro Environment Analysis

In general, the analysis of the Macro Environment permits the greater awareness about the business environment. In general, macro environmental is related to the usual cycle of the business as compared to the functioning of individual sector of the business. The Macro Environment comprises the factors outside the industry which impacts the organization survival (Elliot, Rundle & Walker, 2010). It is viewed that companies are trying to become more environmentally friendly and manufacturing biodegradable products. The new product is Safety Recognition which is a small device positioned on the door handle of the driver that understands the finger print of the owner and unlocks the car. This new product is considered as the advancement in the car safety and technology which appeals to the whole target market of the Mercedes Benz.Political Forces                             

Political Forces explain the impact of the politics on the decisions of the marketing. In general, politics is directly related to the business environment. It comprises legal issues, informal rules and government regulations in which the Company survives. It is viewed that the Company follows state and federal employment laws which prohibited the harassment and safeguard the workers against the discrimination upon the basis of religion, ancestry and disability in concern to the hiring, promotion and compensation. Before initiation of this new safety device, the Company should consider all the legal issues, informal rules and governmental regulations in which the Company survives.

Economic FactorsIn general, basic economic indicators comprise rates of interest, disposable income, index of retail price, GDP and rates of exchange (Elliot, Rundle & Walker, 2010).  Economic Factor impacts the purchasing capacity of the company’s weighted average cost of the capital and potential customers. It is very clear there are various competitors like the BMW in the place of the market and which ultimately effects the economic development and growth of the Company in comparison with the other companies. While many other companies are introducing fuel efficiency technologies and performance enhancing options that are largely ineffective in real world driving conditions.  The new product is named ‘Safety Recognition’. It is essentially a small device placed on the driver’s door handle which recognises the owner’s finger print and unlocks the car. This small device would be reasonable and attracts more customers who are car lovers and ultimately increase the revenue of the Company.

Social factors

It comprises the cultural and demographic feature of the macro environment. In general cars are considered as the status symbol for numerous customers. Now the new product innovation in the cars of the Mercedes Benz would attract more customers and increasing the earnings of the Company. In general, it is viewed that young generation don’t show too much interest in the Mercedes Cars as old people show more interest in the Mercedes car. This new safety recognition innovation in the cars of the Mercedes would attract more young customers as compared to the old customers. This new product appeals on various levels, from technological to safety. It is the kind of feature that will differentiate Mercedes from other luxury car brands, especially with technology and safety being at the fore front of consumer concerns in recent times. It can be said that the safety is the main feature offered by the Mercedes Benz which shows that the Company gives priority to the safety also while maintaining the differentiation in the cars. It is very clear that the individual buys the car according to his income and lifestyle. This safety recognition feature in the cars of the Mercedes Benz would be suitable more for the security officers, members of the parliament and the individual who needs security.Technological Forces

It is viewed that Research & Development division of the Company is quite effective and work constantly and fulfilling the demands of the customers. It is viewed that the Company has initiated the concept of bionic cars which uses the engine of the diesel which significantly reduce the consumption of the fuel (Elliot, Rundle & Walker, 2010).  In general, product appeals on various levels, from technological to safety. It is the sort of feature that will differentiate Mercedes from other luxury car brands, especially with technology and safety being at the fore front of consumer concerns in recent times. The ‘Safety Recognition’ scan is no gimmick and it is considered as the advancement in technology and car safety that appeals to the entire Mercedes target market. This feature safety recognition would appeal the entire target market of the Mercedes Benz. This new kind of the innovation would help the Company to sustain the competitive advantage and maintain the competition from other players in the market.

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