Industry Forecasting

Industry Forecasting

Introduction

Every business organization has to analyze different environmental trends which may affect the marketing process of the company and when it comes to the consumer based organizations, the evaluation and analysis of macro-trends becomes inevitable. This process is necessary in order to ensure the sustainability of the organization in future (David, 1986). In this paper the macro trends affecting the marketing of a beverage offered by a well known food industry are analyzed. Though the company is doing well enough for few years but the changing business environment and its trends may impact its processes in the next few years. The most popular and important macro trends of the food industry are discussed in this paper.

Discussion

Though there are number of macro trends which may affect the marketing process of any product such as the demographics, political situations, change in economy and changing behavior of the consumers but food industry is always considered to be a different kind of business organization. Owing to this fact there is a need to analyze different macro trends for the beverage offered by this company. These macro trends include:

New market segmentation

Demographic shift.

Personal wellness.

Globalization.

New Market Segmentation

The consumers need to be segmented into different segments. Though customers are divided according to their culture, traditions and their habits but in order to maintain and accelerate in the market, the company has to segment its consumers according to their age, taste and their preferences they have for food and beverages (McDonalds, 2009). The next five years will see a rapid change due to shift in attitudes and behaviors. Owing to this fact the company has to come up with a product which may target every kind of consumer or either it should particular kind of people considering their taste and behaviors. It also needs to identify the ...