Huszagh, Huszagh and Hanks (1992)

Management > Global Marketing Management > Lectures > Independent Research > Huszagh et al. > Macro-economic factors

Macro-economic factors

Macroeconomic-to-Firm – Macroeconomic factors are often seen as affecting international marketing strategies, particularly in terms of companies which take a standardized approach and those which emphasise adaptation.

Marketers have been urged to look at the macroeconomic environment when making decisions.

Government policies are also subject to change under certain macroeconomic circumstances. These, in turn, affect marketing management. Thus marketers need also to be aware of and anticipate changing policies in reaction to the economy.

To help companies cope with future macroeconomic shifts, a “Keynesian” economist would suggest that government intervention is required to protect its nation’s firms “through monetary and fiscal initiatives”.

However, companies really need to learn to integrate coping mechanisms into their strategies, rather than relying on the government for help. For example, there is an enormous amount of data available, which can help predict the future by testing theories and marketing strategies.

The authors suggest that firms should look to companies in other countries and how they cope and have coped with macroeconomic changes.