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Economic Environment How Influences Entrepreneur Decision

Economic Environment How Influences Entrepreneur Decision

          
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About the Book

Critically discuss the link between the economic environment and sales of ready meals in supermarketThe macro environment, it describes things that are beyond the immediate environment but can nevertheless affect the organization. Such as the ready meal manufacturers in its macro environment, including the economic environment which can cause the manufacturers sell ready meal numbers whether which can sell more or less to different exported countries due to the exported countries' unemployment ratios, GDP and Government policies etc factors influence. Economic theory can help to explain why it can influence consumer behavior. In food sale market, it can include consumer behavior and demand side as well as retailer behavior and supply side two issues. Consumer behavior and demand side issue, such as the exported countries' consumer whose knowledge of the nutritional benefits of foods whether which prices were raised to choose to buy reasonably as well as retailer behavior and supply side issues, such as investing for developing a restaurant or supermarket in an underserved area whether the types of meals choices which are valued or which are not valued to buy to offer to clients from imports. On the other hand, economic environment factor, individual income can influence who chooses the type, quantity and quality of food that is purchased for a house holder and it also influenced the cooking and storage facilities available in a household to influence food choice. On the other way, economic environment variation factor can also influence food access across areas. It is important to understand the economic conditions that may contribute to food deserts, that is the costs that food retail businesses face and the choice available to consumers who want to buy foods. Economic environment factor considers the consumer and demand factors, business and supply factors and the market conditions that interact to create differences in the food retail environment across areas and subpopulations. In general, high income meal client group can accept to choose to go to supermarkets or restaurants to spend than low income meal client group. The impact of the economic environment on sales of ready meals is such as an individual get richer, who can afford to buy ready prepared foods, rather than spend time and effort to prepare to cook them at home. It seemed that low income consumers were decreasing to eat meals at expensive restaurant to the alternative of relatively cheap ready prepared meals at home. Research could also consider how consumer knowledge and preferences and the time cost tradeoffs affect consumer decisions of which foods to eat and whether to make or to buy prepared foods from supermarkets or to eat at restaurant meals . Travel costs and time costs of acquiring foods as well as the time costs of preparing foods (meals) are also likely to affect demand for particular foods. Research on price variation at the local level and demand models could also be used to help determine which factors contribute to differences in access to food retailers. Price is also major determinant of food ( meal) demand. The higher, the price of a food( meal), the lower the meal quantity demanded. On the other hand, the higher the price of a substitute food (meal), the higher demand will be for that food (meal ) item.


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Product Details
  • ISBN-13: 9798627421919
  • Publisher: Independently Published
  • Publisher Imprint: Independently Published
  • Height: 280 mm
  • No of Pages: 546
  • Spine Width: 36 mm
  • Width: 216 mm
  • ISBN-10: 8627421919
  • Publisher Date: 18 Mar 2020
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 1735 gr


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