Examples Of Social Factors In Malaysia

The example of economic factors are economic situation of country, economy trends, economy growth, interest rate, exchange rate of money, inflation rate, unemployment policy of government, stage of business, import and export ration and the exchange rate that will affect the cost of exporting goods and the supply and price of imported in an economy (Carpenter & Dunung, 2014). Social factor are related with the society. It is how the society acts and thinks about any things. Business cannot exist without society because it is a part of it (Mack, 2014). Social factors are differ from country to country, as it depends on each region, thinking, lifestyle, demographics, trends, religious factors, population growth rate, consumer attitudes and opinions,

It is related with the society in Malaysia and how the society would behaves and thinks. As for TESCO, society is important as their business market on-going was influence by society, as societies have the buying power. Malaysia has a population of 29.72 million people which are comprises many ethnic groups with Malays (50.4%) as a majority, Chinese (23.7%) and Indians (7.1%) and other indigenous groups in Sabah and Sarawak (11%) around the population (Malaysia, 2007). All of these ethnic groups are consider themselves as important parts of the diverse society of Malaysia and this creates a cosmopolitan culture of Malaysia. From this diverse society, it includes ages, gender, education, religion, household income and attitude to male and female workers. The variance in cultural taste and customers preferable today has causes a problem, as it is compulsory to provide different selections in everything that that company going to sell. Foods and beverages are the examples for this circumstance. In Malaysia, it is essential for TESCO to supplying Halal foods for cultures like Muslims since majority of the population in Malaysia is Muslims (Khan M. S., 2013). The Halal certification logo also must be gained and approved by Jakim Malaysia. Without this Halal logo, Muslim consumers in Malaysia will not choose TESCO as their shopping stop and TESCO also lose majority of their potential buyers. Besides, over the years, the birth rate has increased in Malaysia and TESCO should started selling children toys or products to open a new market will create more profit in the long run. This is because in Malaysia, the market of parents and children already exist. Moreover, they also should focus on education such as selling school uniform for children from primary school, secondary and even to college. TESCO is a global company which means genders from all around the countries and all ages will be stop at TESCO to get what they want. In