Marketing
- Submitted by: chandana88
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- Category: Other
- Date Submitted: 07/21/2014 03:08 AM
- Pages: 2
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Pestel Analysis of MicroFridge
Political:
* The NAFTA agreement in 1994 created the opportunity for Mirofridge to look for other suppliers which was cheaper than the previous one.
* As a large portion of the targeted customers belonged to military,any changes in the government policy definitely would have an impact on their revenue and sales.
Economic:
Demand Supply: Microfridge had no competition with a comparable product;this was a great benefit for them as demand was high and there was only one supplier.
Outsourcing: All the components were outsourced,so any volatility in the exchange rate had effect on cash flows and profitability.
Social:
Lifestyle Pattern: Transition from larger family to nuclear family influenced the college goers stay alone. People became more independent and wanted to cook their food own.This created the market for Microfridge.
Consumer Choices: The parents of the college goers wanted their children to live on the campus and did not want their children going to convenience store at night.
This psychology was an added benefit for MicroFridge to sell their product.So their marketing included progarm to influence parents.
Change in Perception: The administrators of colleges or schools were reluctant to change and they were comfortable with the conventional refrigerator.It was hard for the sales and distribution to convince them.
Change in Demographics: Aging population was increasing that would create more retirement homes which would increase the market.
Technological:
Innovative combination of fridge and microwave oven made it unique to other existing products.
Reduction in Power Consumption(Decrease in Current from 20 Amps to 10 Amps)
Legal:
Transition from one supplier to multiple suppliers in the case of Daewoo would initiate some legal issues.
Product Patent was jointly held by Bennett and Samyan. So differences might arise when the contract terms were negotiated
Environmental:...
Political:
* The NAFTA agreement in 1994 created the opportunity for Mirofridge to look for other suppliers which was cheaper than the previous one.
* As a large portion of the targeted customers belonged to military,any changes in the government policy definitely would have an impact on their revenue and sales.
Economic:
Demand Supply: Microfridge had no competition with a comparable product;this was a great benefit for them as demand was high and there was only one supplier.
Outsourcing: All the components were outsourced,so any volatility in the exchange rate had effect on cash flows and profitability.
Social:
Lifestyle Pattern: Transition from larger family to nuclear family influenced the college goers stay alone. People became more independent and wanted to cook their food own.This created the market for Microfridge.
Consumer Choices: The parents of the college goers wanted their children to live on the campus and did not want their children going to convenience store at night.
This psychology was an added benefit for MicroFridge to sell their product.So their marketing included progarm to influence parents.
Change in Perception: The administrators of colleges or schools were reluctant to change and they were comfortable with the conventional refrigerator.It was hard for the sales and distribution to convince them.
Change in Demographics: Aging population was increasing that would create more retirement homes which would increase the market.
Technological:
Innovative combination of fridge and microwave oven made it unique to other existing products.
Reduction in Power Consumption(Decrease in Current from 20 Amps to 10 Amps)
Legal:
Transition from one supplier to multiple suppliers in the case of Daewoo would initiate some legal issues.
Product Patent was jointly held by Bennett and Samyan. So differences might arise when the contract terms were negotiated
Environmental:...