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Global Marketing - Essay Example

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Global Marketing Table of Contents 1. Introduction 3 2. Macro-Environment Analysis: PESTEL 4 2.1 Political Environment 4 2.2 Economic Environment 5 2.3 Social Environment 6 2.4 Technological Environment 8 2.5 Environmental Factors 9 2.6 Legal Environment 10 2.7…
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Global Marketing
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Download file to see previous pages The company is a UK multinational company which was established in the year 1760 (Hamleys, 2010). The target market is determined to be the United States of America (USA) and is believed to have significant opportunities for the future growth of the company. Considering the marketing concept, it is further noted that marketing strategies of a company should be developed with due concern to the macro-economic environment of the target market along with the micro-economic factors influencing or likely to influence the company’s operation in the region. With this concern, the discussion of the paper will focus on evaluating the macro-economic environment of the USA with the implication of PESTEL model. This shall provide an insight to the market prospects and thus assist in developing advantageous strategies. 2. Macro-Environment Analysis: PESTEL 2.1 Political Environment It is of no doubt that the political factors of the USA possess a significant amount of sovereignty in the world economy. The political environment of the economy had been observed to witness inconsistency for the preceding few years. Notably, the downfall of white supremacists in the economy can be observed as a most important revolution that ever took place in the post-modern era (U.S. Department of Homeland Security, 2009). Currently, the political environment can be assumed to be steady from a general view point. However, with an in-depth perspective, conflicts can be observed in terms of fiscal challenges and the formation of effectual monetary policies (Paul, 2011). It is quite noteworthy that the economy is facing a challenge of widening fiscal deficit as an effect of the recent economic downturn. In order to prevail over the obstruction of growth the political leaders are intending to lessen the deficit amounts through budget cuts. This in turn is fuelling up conflicts and instability in the political environment of the USA (Jackson, 2011). 2.2 Economic Environment Similar to other developed economies, the US economy was also strongly affected by the recent economic downturn. Over the last consecutive years, i.e. from the pre-recessionary period to the current year, the economy has faced a highly volatile environment with declining GDP and employment rates. However, the forecasts reveal that the unemployment rate which is further likely to be affected conversely by the up-surging inflationary rates (Tilton, 2011). For instance, the current actual GDP of the economy is recorded to be 1.8% which is further identified as significantly less than the quarterly average growth rate, i.e. 3.3% (Trading Economics, 2011). Furthermore, experts state that the GDP is likely to become steady in the subsequent five years providing opportunities to the small size enterprises. The fluctuations of the economic growth can be observed from the diagram represented below (Tilton, 2011). Source: (Tilton, 2011) Another major trend of the US economic environment can be witnessed as the increase in imports. However, with a declining consumer spending rate, the opportunities are likely to be obstructed (Bureau of Economic Analysis, 2011). 2.3 Social Environment The population of the US has been recorded to grow moderately in the past few years. The last census report reveals the total population to increase by 0.87% from that of the preceding fiscal year. It is further estimated to grow moderat ...Download file to see next pagesRead More
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