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Environmental Factors Of Samsung

1680 Words7 Pages

INTRODUCTION:
Marketing is one of the management process in which goods and services move from concept to the customer. Marketing consists of four major components which are called 4P’s of marketing:
1. Product identification, selection and development.
2. Price determination.
3. Selection of distribution channel to reach customer’s place.
4. Implementation and development of promotional strategy.
For Example, new Samsung products are developed to improve application and systems, are set on different prices depending upon customer desires which are sold in places where Samsung products are sold. Dr Philip Kotler defines marketing as” science and art of exploring, creating and delivering value to satisfy needs of a target market at a profit. Marketing classifies unfulfilled needs and desires of customers and brings out products to satisfy them and retain the customers against competitions. (Apple Annual Reports, 2010)

FACTORS THAT INFLUENCE MARKETING STRATEGIES

PESTLE analysis is a competitive tool used by marketing gurus to analyse and monitor the macro-environment or external marketing environmental factors that have an impact on the marketing of products of an organisation. PESTAL analysis stands for P-Political, E-Economic S-Social, T-Technological, L-Legal and E-Environmental Factors. This paper analyses the Economic factors that have made an impact on iPhone marketing strategies in Singapore.
The Economic factors can be categorised as under:
1. Inflation

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