Tyson has made a lot of revenues from packing meat. However, the company now wants to sell Frittatas. The company wants to "reinvent itself" as the producer of prepared foods and be able to improve their met stockpiles, pricing strategy and eliminate tariffs and trade barriers. The "Rogers Chicken Plant" was developed as a part of the meat packaging into modern food company on par within Kraft Heinze Company.
Three Forces of External Marketing Environment That Have Impacted Tysons Foods
Tyson Foods, Inc. used a PESTLE analysis model to scrutinize the external environment of the environment (Cadle, 2014). The model analyzes the Political, Economic, Social, Technological, Legal and Environmental factor within the external environment affecting Tyson Inc.
There are changes in the external factors which has directly impacted not only the Tysons Food Company and other key players in the meat industry. Some of the political factors affecting Tyson Company include (Cadle, 2014). The level of corruption, trade barriers, and regulations, risks of political instability which can be detrimental to the growth of the meat sector as a whole and in particular the company. The level of bureaucracy and government interference within the company. The legal framework for the enforcement of contracts and protection of intellectual property rights. The sale of red meat and poultry production has brought down the prices, and this has severely affected the profit margins of Tyson Food Company. Tariffs and Trade barriers have furthered dented the profit margins of the company due to further reduction of prices.
The economic factors will analyze how the exchange rates and stability of currency which "houses" this company, labor cost and productivity within the meat industry, rate of inflation, the rate of interest rate and overall economic growth rate and how it is affecting the company.
The culture of the society and way of living has affected the performance and culture of the company in the meat industry. For example, shared beliefs and attitudes of people have a crucial role in how marketers at Tyson foods look for revenue. Other societal factors affecting the company include; the gender roles, education level of individuals within the community among other factors.
Technology is disrupting the way of operation within the industry across the globe and some of the ways these factors affect the technology include; Technological impact on value chain structure of consumer goods, and also the structure of cost within the meat processing industries. Some of the environmental factors include climatic changes, law controlling the pollution of the environment and recycling process and impact in the company and overall meat processing industry. Legal factors also impact directly the operations of Tysons food especially data protection, health, and safety laws and copyrights laws.
The Changes Implemented by Tyson Company
The CEO of the company said that they want to implement changes that will make their preparation and packaging foods from the traditional ways into more significant and modern packaging ways and even revolutionize some products like the sale of packaged foods like "microwavable eggs with sausage and cheese". The company has recently spent over $12 billion to purchase some more staple meat foods like "Jimmy Dean Sausage," and the organic "brand smart chicken."
Consumer Behavior Factors Which Have Impacted on the Performance of Tyson Company
Some of the consumer behavior factors will be determined by the motivation of consumers towards eating meat products (Karbasivar, 2011), the perception, beliefs, and attitudes towards the consumption of meat products and this have led to price fluctuations within the meat industry and Tysons Foods.
Cadle, J., Paul, D., & Turner, P. (2014). Business analysis techniques. Chartered Institute for IT.
Karbasivar, A., & Yarahmadi, H. (2011). Evaluating active factors on consumer impulse buying behavior. Asian Journal of Business Management Studies, 2(4), 174-181.
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