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PEEST factors that have impacted on your selected product line recently - Essay Example

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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…
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PEEST factors that have impacted on your selected product line recently

Download file to see previous pages... Because 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).
The 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).
The 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 ...Download file to see next pagesRead More
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