question archive Write 2 pages with APA style on PEEST factors that have impacted on your selected product line recently
Write 2 pages with APA style on PEEST factors that have impacted on your selected product line recently
Subject:WritingPrice: Bought3
Write 2 pages with APA style on PEEST factors that have impacted on your selected product line recently.
PEEST Analysis of Samsung Galaxy S5 Introduction Samsung is an international conglomerate that operates in the consumer gadgets and appliances market. The company has global aspirations as is evidenced recently by its expansion into newer markets. Samsung released the Galaxy S5 phone in April of 2014 as a direct result in order to gain market share in the international market, releasing it in 150 countries as a successor of the Samsung Galaxy S4 to compete against the HTC One M8, the LG G3, and the Apple iPhone 6 Plus (Doff & Suhartono, 2014: p1).
This paper will conduct a PEEST analysis of the Samsung Galaxy S5.Political FactorsBecause of the increasingly competitive environment in the smart-phone market, Samsung has been aggressive in ensuring that the phone’s related intellectual properties are protected from suing competitors like Apple (Naidu-Ghelani, 2014: p1). The Samsung S5 faces political pressures in the West African market due to the Ebola virus and terrorism, especially as it opened Samsung Electronics West Africa just this year to increase market share in the lucrative market.
In the immediate future, sales of the Samsung Galaxy S5 will also be influenced by the Transatlantic Trade and Investment Partnership between the US and EU, whose new tax policies and tariffs could impact significantly on price and sales (Mundy & Thomas, 2014: p1).Economic FactorsThe economic dimension is particularly critical for the Galaxy S5 because increased market liberalization in China, as well as increasing incomes and GDP growth in African countries is opening up new markets for the company (Jung-a, 2014: p1).
However, the slow economic recovery in the EU is expected to continue into the foreseeable future, denting purchasing power for European consumers. The EU and other developed and developing countries in the EU have also recorded minimal decline in unemployment rates, which means that their purchasing power will remain low for the near future. However, unemployment levels in the Caribbean, Latin America, and South East Asia have fallen significantly, opening up new avenues of expansion (Thompson, 2014: p1).
Environmental FactorsThe rise of the ethical consumer internationally who wants products that are sourced and manufactured in a responsible and sustainable manner will be an important factor for the Galaxy S5, which they need to be aware of in order to satisfy the ethical consumer (Giles, 2014: p1). As a result, Samsung has to ensure that its marketing strategy includes steps taken in making their operations responsible and sustainable. Increased pressure from eco-friendly groups like Green Peace will also impact on their activities, especially as they begin to collect and publish data on carbon emissions from technology companies (Roston, 2014: p1).
Social FactorsAs a primarily South Korean family-owned business, Samsung sells its Galaxy S5 phone operating as a Korean company at its core, despite its international footprint. Thus, it will have to adapt to the social-cultural conditions of its new emerging markets, especially in Africa (Bradshaw, 2014: p1). Since the Galaxy S5 phone is being sold to a niche market that is significantly influenced by the consumer’s lifestyle preferences, while each of these markets has different socio-cultural influences, Samsung will have to re-orient its Galaxy S5 phone to fit accordingly in individual markets (Markillie, 2014: p1).
Technological FactorsSamsung is considered as one of the world’s leading companies in technological innovations, which is exemplified by the significantly competitive nature of the Galaxy S5 (Park, 2014: p1). Thus, the company can harness its technological power to drive a sustainable business advantage. This will translate into the Galaxy S5 and its successors being driven by a mission to be ahead of the innovation and technological curve, while also dominating its rivals to dominate competitors and rivals.
