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  • Essay / Fedex Macroenvironment Study - 1556

    Cultural EnvironmentThe cultural environment is composed of institutions and other forces that affect society's core values, perceptions, preferences, and behaviors. The Internet and the World Wide Web are extremely well suited to conducting business electronically on a Web-based basis worldwide electronic commerce has introduced unprecedented opportunities for marketing products and services, accompanied by features, innovative features and methods to serve and support consumers. E-commerce has become a major enabler of the economy and remains a vital growth engine for businesses today. It has succeeded in changing consumer behavior. Consumer purchases over the Internet continue to grow year over year. The survey involving interviews with 42,238 people in 37 countries around the world found that almost a quarter of internet users have made online purchases and 15% plan to do so in the next six months. This represents an opportunity for FedEx as a small package delivery service provider. Moreover, in this competitive society, time is important for everyone. People are increasingly using the Internet to save time. People engage in many activities online, such as email, travel planning, online banking, and searching online for good purchases, all of which can be easily done online. FedEx can satisfy consumers' convenience demands with its sophisticated online service. In addition to changing consumer behavior, many companies or retailers are changing sales channel combinations. The biggest impact of the electronic Web revolution has been in companies that have adopted the click-and-mortar approach. Click and mortar is one of the strategies used by businesses or retailers to continue doing business on physical locations and add the e-commerce component to their business operations. According to a study, 37% of American retailers sell via the Internet, in stores and through catalogs. This represents a growing demand for business-to-consumer parcel delivery service. In addition to the Internet's dramatic change in consumer buying habits and retailer selling habits, today's consumers have become less tolerant of service outages and likely expect best services. are above average. In addition, consumers are demanding more personalized service. It can be difficult for FedEx to satisfy all of its customers' needs. Economic Environment The economic environment is made up of factors that affect the purchasing power and spending habits of consumers. Nowadays, globalization is a major trend in the world economy. The global economy has become fully integrated. There are no barriers or borders to trade in the world.