Microenvironment and macroenvironment analysis of Street ice cream brand in the Australian market. In particular, Microenvironment analyzes Suppliers and Intermediary and macroenvironment analyzes Technology and Environment
Micro environment: Suppliers Suppliers are also an indispensable element of the micro environment, because they provide raw materials for the company to create products, partly determining the quality and stability of the product, help companies maintain good products, create a source of loyal customers, and bring profits to the company (Maqin & Hendri, 2017) Some of Street's key suppliers include: Dairy: Street sources its dairy products from a variety of Australian dairy farmers The company also sources some dairy products from New Zealand Sugar: Street sources its sugar from Australian sugar mills Flavorings: Street sources its flavorings from a variety of suppliers, both local and international Some of the company's key flavor suppliers include Firmenich, Symrise, and Döhler Packaging: Street sources its packaging from a variety of suppliers, both local and international Some of the company's key packaging suppliers include Amcor and Pact Group Street has strong relationships with its suppliers The company works closely with its suppliers to ensure that it is receiving high-quality ingredients at a competitive price Street also provides its suppliers with feedback on their products and services, which helps them to improve their offerings Street has a structured supplier management process in place This process includes regular supplier audits, performance reviews, and risk assessments The company also has a supplier contingency plan in place in case of any disruptions to its supply chain Intermediary Retailers are essential to the Street setting because they give consumers an easy method to buy products Street brands and flavors are usually stocked by retailers including convenience stores, grocery stores, and ice cream cafes, which makes it simple for customers to discover what they're searching for Retailers are crucial to the marketing and promotion of street ice cream in addition to offering convenience Retailers may help spread the word about street ice cream items and entice consumers to sample them by using displays and advertising Street’s retailers are supporting brand by: Keeping a range of brands and flavors of street ice cream on hand Customers will have more options and are more likely to find a product they enjoy as a result Products for street ice cream should be displayed prominently within the business This makes it more likely that buyers will notice and be aware of the items Offering exclusive discounts on items made using street ice cream Customers may be inspired to purchase more street ice cream or try different items as a result Joining forces with mobile ice cream vendors to jointly market your goods A merchant may, for instance, arrange a sampling session for a brand-new street ice cream item or provide consumers who spend a particular amount of money in the store a discount on street ice cream purchases Macro environment: Technology Technology is one of the key macro environmental factors that can impact Street Ice Cream in Australia Technology can impact the company in a number of ways, including new product development, improved efficiency, eeduced costs, new distribution channels, customer engagement The current state of ice cream manufacturing technology presents many new opportunities and challenges As the demand for healthy products increases, consumers are looking for dairy-free or low-calorie options (Susie Stannard, 2018) Street needs to find new ice cream manufacturing technologies that maintain affordability and flavor Changes to or additions to manufacturing technology will require Street to invest in production lines, raw materials, and marketing campaigns to reach customers Additionally, advanced technologies such as artificial intelligence (AI), online sales, and renewable energy are also impacting the ice cream industry Street needs to research these technologies to improve its business Environmental Protecting the environment is a trend that all firms want to follow The tendency of purchasing ecologically friendly items is known as the "green product trend." Vietnam is among the countries where this practice is becoming more and more widespread A 2023 survey by EY found that 37% of Australian consumers are prepared to pay a premium for products that are produced in a sustainable way This is higher than the global average of 33% (EY, 2023) Street (Ice Cream) may be impacted by green product trends and environmental preservation initiatives in two ways: Developing chances: Street (Ice Cream) has the opportunity to offer ecologically friendly goods and services thanks to green product trends and environmental protection activities These goods have the potential to spark customer attention and boost sales for Street (Ice Cream) Posing a challenge: Green product trends and environmental protection campaigns pose a challenge for Street (Ice Cream) in minimizing the environmental impact of production and business activities If it fails to meet consumer requirements, Street (Ice Cream) may lose market share References Maqin, R A., & Hendri, N 2017 “Comparative Analysis: The Effect of Macro and Microenvironment on Marketing Strategy and Marketing Performance of Small Medium Enterprises (Survey on Group of Small Medium Enterprises of Food and Non-Food Products in Cianjur Regency, West Java, Indonesia) Macro and Microenvironment affecting Marketing” Online source pdf: file:///C:/Users/lilly/AppData/Local/Temp/5673-14646-1-PB.pdf Susie, S 2018 “Finding growth in low-calorie ice cream.” Agriculture and Horticulture Development Board https://ahdb.org.uk/news/consumer-insight-finding-growth-in-low-calorie-ice-cream Ernst & Young 2023 ” How can we empower the next generations to build a more sustainable future?” Generational Sustainability Survey 2023 Online source pdf: https://assets.ey.com/content/dam/ey-sites/ey-com/en_gl/topics/corporate-responsibility/ey-ja-2023-sustainabilityreport-27-july-2023.pdf