Pestel analysis on food industry
Political Factors Trends affect the food industry. In The Middle East the spices and herbs used in cooking are quite similar to that of India and hence a huge market for us. As a result, fast food chains are implementing their own branding makeovers.
Increasing Labor Costs Disposable incomes are growing for a reason: laborers are earning more money these days.
Legal factors affecting fast food industry
On the whole, the cost of hiring workers is increasing across all industries. We require to rapidly adapt to new technologies such as steam sterilization treatment of food products and stricter implementation of laws against the use of banned pesticides which are still being used for farming. However, the fast food industry recognized that this does not make them recession-proof thus in a bid to increase sales, a variety of products at low prices have been introduced to the menus. A good understanding of the external factors allows businesses to identify areas of opportunities and threats. We see demand for our products to be stable in the near future. Competition has increased to highest level when it comes to the ways of engaging customers. This has led to heavy flooding in some parts of the world and soaring temperatures and drought in other parts leading to destruction of crops. Technological Factors The use of internet has opened ample opportunities in high impact marketing and low-cost products and services for firms and industries. Political Factors Politically balanced atmosphere and environment has a great importance in the decisive or productive fast food business. That means that individuals in the lower, middle, and upper classes all have more money to spend on luxuries — including restaurant food. The new technology has changed the perception of market and promotion.
Due to increased spending per consumer the restaurants have focused on improved customer service and cheap menu options. We are a government recognized Star export house and deal in Spices, Oil seeds and Dehydrated vegetables.
Pestel analysis on food industry
Without a doubt, this makes the food industry one of the most tightly-regulated industries of all. Many a times instead of putting bans they put non-tariff barriers which is an indirect mode of trade protectionism. How these foods appeal to people is based on their branding look. These factors vary from one country to another. Although there is a slowdown in sales, fast food is a convenience and a necessity to many still. With technology advancing, it helps food corporations reach consumers in new and easier methods. Economic Factors Economic factors influence how an organization does business and contributes to the amount of profit to be enjoyed. Internal factors In India as in elsewhere politics and economics get intertwined quite often. War and political unrest also effects our trade as it leads to increase in uncertainty. Some of the areas of high concern include health consciousness, age distribution, career attitudes and population growth. The fast food industry reputation has become very important due to increased competition and social media appearance. Get your price writers online Fast food is a type of food prepared quickly and served as a takeaway or quick meal usually involving reheating cooked meals. Of course, the food industry is here to stay, but it seems those who prevail will have to understand what consumers really want to be eating in the 21st century. Environmental Factors The fast food brands were pressured by the US Food and Drug administration into adopting greener approach so as to ensure continued customer loyalty. Interest rates, the disposable income of firms and consumers, inflation, exchange rates and economic growth are key concepts that are thoroughly reviewed.
China by using collective farming and modern technology has managed to increase its yield per hectare and has gained grounds in markets were India used to be strong.
There is no clear cut decision being taken on the issue leading to uncertainty in the agricultural development of the country.
Pestle analysis of singapore food industry
Due to globalization people are getting exposed to different types of cuisine. Not only customer service methods have changed but new trends have also been introduced in engaging customers on social media and getting online feedback. While this is indeed largely a Political issue, it becomes a Legal matter if any of these regulations are ever breached. The marketing needs must comply with the legal regulations. Fast food is a global industry generating billions of profit. Many of the European countries face severe winters which makes them stock food ingredients for the duration of the winter. Political Factors Trends affect the food industry. Economic Factors Economic factors influence how an organization does business and contributes to the amount of profit to be enjoyed.
Many a times instead of putting bans they put non-tariff barriers which is an indirect mode of trade protectionism.
based on 102 review