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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.
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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.
However, this could lead to further accusations that it is imitating Apple, bringing regulatory and legal scrutiny (Krugman, 2011: p1).Referencesbbc.com. (2014, October 7). Samsung Electronics forecasts 60% fall in quarterly profit. Retrieved October 30, 2014, from BBC News Business: http://www.bbc.com/news/business-29516806Bradshaw, T. (2014, March 7). Samsung dials up its software design with Milk Music. Retrieved October 30, 2014, from Financial Times: http://blogs.ft.com/tech-blog/2014/03/samsung-milk-music/?
Authorised=false Doff, N., & Giang, N. K. (2014, October 14). Most Emerging-Market Stocks Rise as Samsung Gains. Ruble Weakens. Retrieved October 30, 2014, from Bloomberg: http://www.bloomberg.com/news/2014-10-14/emerging-stocks-rise-for-second-day-as-technology-shares-gain.htmlDoff, N., & Suhartono, H. (2014, October 27). Emerging-Market Stocks Decline as Ibovespa Sinks on Rousseff Win. Retrieved october 30, 2014, from Bloomberg: http://www.bloomberg.com/news/2014-10-27/emerging-stocks-fall-on-china-link-delay-brazil-share-etf-drops.
html economist.com. (2014, August 27). Samsung: Waiting in the wings. Retrieved October 30, 2014, from The Economist: http://www.economist.com/news/business/21620195-succession-looms-korean-conglomerate-much-has-change-waiting-wingsFleishman, G. (2014, April 23). A galaxy for phones to explore. Retrieved October 30, 2014, from The Economist: http://www.economist.com/blogs/babbage/2014/04/mobiles-spaceGiles, M. (2014, January 6). Gadget hangover. Retrieved October 30, 2014, from The Economist: http://www.economist.com/blogs/schumpeter/2014/01/consumer-electronics Jung-a, S.
(2014, June 25). Samsung hints at weak second quarter. Retrieved October 30, 2014, from Financial Times: http://www.ft.com/intl/cms/s/ab13c502-fc3d-11e3-98b8-00144feab7de,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fab13c502-fc3d-11e3-98b8-00144feab7de.html%3Fsiteedition%3Dintl&siteedition=intl&_i_referer=http%3A%2F%2Fsearch.ft.c Krugman, P. (2011, August 10). Slicing an Apple: How much of an iPhone is made by Samsung? Retrieved October 30, 2014, from The Economist: http://www.economist.com/blogs/dailychart/2011/08/apple-and-samsungs-symbiotic-relationship Lee, J.
(2014, October 30). Samsung Posts Smallest Profit Since 2011 as Galaxy Stalls . Retrieved October 30, 2014, from Bloomberg: http://www.bloomberg.com/news/2014-10-30/samsung-posts-smallest-profit-since-2011-as-galaxy-stalls.htmlMarkillie, P. (2014, March 4). Emerging technologies: What to watch. Retrieved October 30, 2014, from The Economist: http://www.economist.com/blogs/babbage/2014/03/emerging-technologies Mundy, S. (2014, July 31). Samsung smartphone sales plunge. Retrieved October 30, 2014, from Financial Times: http://www.ft.com/intl/cms/s/51c93e8e-184c-11e4-a6e4-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F51c93e8e-184c-11e4-a6e4-00144feabdc0.
html%3Fsiteedition%3Dintl&siteedition=intl&_i_referer=http%3A%2F%2Fsearch.ft.cMundy, S., & Thomas, D. (2014, July 8). Samsung hits smartphone growth plateau. Retrieved October 30, 2014, from Financial Times: http://www.ft.com/intl/cms/s/9a72d8be-06a1-11e4-8c0e-00144feab7de,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F9a72d8be-06a1-11e4-8c0e-00144feab7de.html%3Fsiteedition%3Dintl&siteedition=intl&_i_referer=http%3A%2F%2Fsearch.ft.c Naidu-Ghelani, R. (2014, october 30).
Samsung market dominance wavers as competition heats up. Retrieved October 30, 2014, from BBC News Business: http://www.bbc.com/news/business-29798464 Park, K. (2014, october 20). Samsung Engineering Set to Win $1 Billion LNG Project . Retrieved October 30, 2014, from Bloomberg: http://www.bloomberg.com/news/2014-10-20/samsung-engineering-set-to-win-1-billion-lng-project.html Roston, E. (2014, October 17). From Apple to Wal-Mart, Companies Make Bets on Climate Change. Retrieved october 30, 2014, from Bloomberg: http://www.bloomberg.com/news/2014-10-17/from-apple-to-wal-mart-companies-make-bets-on-climate-change.
html The Guardian. (2014, October 30). Samsung plans smartphone overhaul after profits plunge. Retrieved october 30, 2014, from The Guardian: http://www.theguardian.com/business/2014/oct/30/samsung-smartphone-overhaul-profits-plungeThompson, J. (2014, July 7). When the gadgets get tough. Retrieved October 30, 2014, from Financial Times: http://www.ft.com/intl/cms/s/5223acb0-f76e-11e3-b2cf-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F5223acb0-f76e-11e3-b2cf-00144feabdc0.
html%3Fsiteedition%3Dintl&siteedition=intl&_i_referer=http%3A%2F%2Fsearch.ft.c Turner, D. (2014, October 21). Samsung Galaxy S5 price slash for India appeals. Retrieved October 30, 2014, from Phones Review: http://www.phonesreview.co.uk/2014/10/21/samsung-galaxy-s5-price-slash-for-india-appeals/Webster, S. (2014, October 25). Samsung Galaxy S5 tipped to receive Android 5.0 in December. Retrieved October 30, 2014, from CNET: http://www.cnet.