A) PEST analysis
Political
• Goods and Services Tax In 1 April 2015, Malaysia government has implemented a ‘good and service tax’ (GST) with a fixed rate of 6% in Malaysia. Entire market reacted negatively after implemented GST. Poh Kong’s export had reduced and cause lower demand from overseas, all customer were shift to another retailer. Consumer’s sentiment was lackluster, but GST might not reduce significantly demands of gold or jewelry. Due to commemorate occasions and fight against weak ringgit, purchase of gold is cannot be escaped for consumer. Therefore, Poh Kong tried to provide more promotions as well as selling more entry level products that are affordable by consumers in order to recover the loss of implemented GST.
Economic
• Foreign Exchange Rate
Recently, foreign exchange rate of Malaysia ringgit has dropped which mean depreciation in ringgit. This situation might help Poh Kong to attract some consumer purchase gold as a hedge against the depreciation ringgit but this cannot 100% to ensure that depreciation of ringgit will brought up company’s sale. However, based on past few year, demands of precious metals and gold were slightly increased due to depreciation of ringgit. According to financial statement of 2015, Poh Kong increased 8.8% of net profit (Rm14.48 million) compared to year of 2014 (Rm13.31 million) with weak ringgit.
• Inflation
Currently, Malaysia faces the problem of slow economy and serious inflation. One of the products that Poh Kong offer
Sales tax is income elastic; because of this fact, consumers have a higher tax incidence and carry the burden. From this, it has been evidenced that the tax burden is vertically unequitable and can be seen as unfair to the less fortunate. Sales tax is paid by retailers, which is dependent upon their sales revenue. However, since the demand of consumers is inelastic and can vary based on market and economic conditions, this burden is felt more by lower income individuals and families. However, it is important to note that the tax burden is independent of who physically pays the tax.
The balance of trade is the difference between the value of exports and the value of imports. If the difference is positive, a trade surplus is produced and is favorable for the domestic currency. If the difference is negative, a trade deficit is produced. Social and political changes also effect the valuation of the country’s currency. Political stability is a very important factor regarding the future
A Demonstration of Chemotaxis Between Flies and Various Substances (Sugar vs Bacteria) Abstract: The purpose of this lab based on the Drosophila melanogaster (the common fruit fly) reactions. Since the fly has been studied and observed for many years, and known for its unique chemotactic attractions to different stimuli, it was an ideal organism for the study being conducted. In the experiment the purpose was to be able to figure out whether the flies would be more attracted to sugar or bacteria.
Selfridges, also known as Selfridge & Co., is located in the United Kingdom and well-known and unique because of its history and how it currently operates. Selfridges was established by Harry Gordon Selfridge on 15 March 1909. It is a chain of high-end department stores whose flagship store on London’s Oxford Street is the second largest shop in the UK. Since 2003, Selfridges has been under the ownership of Galen Weston and has its stores at Oxford Street in London, in Birmingham and at Trafford and Exchange Square in Manchester. Selfridges won the Best Department Store in the World at the Global Department Store Summits in 2010, 2012 and 2014 (Selfridges, 2015a,b).
Prostitution is a problem around the word not just in the US. Some people work as prostitutes because they need to they can’t find job or they feel like they aren’t useful so they find an easy job. However, a large majority of people that are prostitutes are forced to prostitute themselves it’s not really a choice, they are told by the people that they have to else there family could be killed or they might be killed. In the book “The Good Earth” Locust was sold just so that way men could take advantage of her she was only seen as a sex symbol by the people that would go into the tea houseJust like men see women in prostitution.
2014). This group of customers will have an even harder time buying luxury goods when they have to pay more tax. Due to their price sensitivity they will be likely to not buy the good anymore after an increase in price. An example to illustrate this situation can be a person buying a wedding ring once in his life or going on a relaxing holiday. While before the luxury tax he might have been able to go on a luxury holiday every 10 years, he might now decide to not go anymore at all.
SMART marketing objectives for a hospitality and tourism business: From the brief meeting, Mr Ramesh summarized the main objectives of the Village Hotel Bugis will coincide with the Group’s mission statement. (i) To develop an enterprise and operate the businesses by serving with grace and love, integrity and honesty (ii) To inspire better lives to all stakeholders using the core values of BUILD (iii) To market VHB is a destination of pleasure and business with its unique characteristics of its locality. 2. Marketing plan development for a hospitality organization: Marketinng audit ( PEST ): PEST analysis is a simple widely used tool that helps to analyze the Political, Economic, Social- cultural, Technological changes in the business environment. Let’s see how The Village Hotel uses PEST analysis to their business.
1.o Introduction This report will be examining the success behind Banyan Tree Holdings. It will display how the company’s vision, values, culture and operational strategies helped Banyan Tree Holdings become an international hospitality brand, using PESTLE and Porter’s 5 forces Analysis, it will display how the power of customers influences the growth of Banyan Tree Holdings and how competitive rivalry within the industry helps the company stay afloat. 2. Background of Banyan Tree Holdings Banyan Tree Holdings is an international hospitality brand that manages and develops resorts, hotels and spas around the world. Ho Kwon Ping and Claire Chiang founded it in 1994, with its roots in Singapore.
This critique is a reflection of Strategic Industry Analysis of clothing Industry in United Kingdom, Italy and France. To achieve such aims, data were collected, reviewed and analyzed within the industry. By so doing, primary tools were exploited to give an in-depth information, these include: Orbis database, companies' web pages as well as academic and non-academic literatures. Due to limited information from countries' perspective (language barriers), this paper will analyze the European union clothing industry as a whole, in term of the development, the competitiveness and the disparity between top and bottom players in regards to financial performance.
• Private consumption is developing strongly; enhanced by increased consumer confidence and low inflation (Asian Develop Bank, 2015). • Sales in retail sector increased 9.8% in January – September 2015 compared with previous year (Bloomberg,
2.0 Porter’s five forces of Levi’s Strauss Threat of new entrants – low • Entry into a market where the production volume is so high already is not really a threat because the cost of production goes down. • Levi’s can produce more at a lower price and possibly sell for more. Bargaining power of supplier – low • Competition within manufacturer is high since it is mass – produced. • Manufacturer is located in many third world countries: Central America, China, Cambodia therefore Levi’s can switch to other manufacturer easily.
Consumer is one who consumes the goods & services product. The aim of marketing is to meet and satisfy the Consumer needs and wants. The modern marketing concept makes customers the centre stage of organisation efforts. The focus, within the marketing concepts is to reach target and largest customer’s sets ball rolling for analysing each of the conditions of the target market1. Consumer behaviour can be defined as “the decision making process and physical activity involved in acquiring, evaluating, using and disposing of goods and services”.
The term PEST stands for “Political, Economic, Social and Technological analysis and, not only is it well known within the academic circles, it can also provide a general overview of Cold Chain Logistics and its adaptation in India. It is widely used but have its own drawbacks. For example, another version of PEST is SLEPT which also takes the legal factors into account. Although we can explore how the Indian government can regulate and implement Cold Chain Logistics through its judicial apparatus but it can divert the readers from the main points of our research. Since any information will solely be based on speculation hence the use of its more basic form for our argument.
4.0 Implementation 4.1 Broader perspective Globalization is affected by various factors that drive towards its existence and formation in the society and a set of these macroeconomic factors. As per this analysis we can get an overview of the current economy of the country that helps the researcher to make relevant suggestions and recommendations that can benefit the economy as well as society to make them believe and trust that the globalization enhances their behaviour and life style. PEST Analysis: Source: Visual.ly website PEST Analysis of Saudi Arabia Political environment Giddens and Griffiths (2006, p. 59) states that mainly there are three reasons why politics has become one of the main drivers of globalization.
GK manages its foreign exchange risk by ensuring that the net exposure in foreign assets and liabilities is kept to an acceptable level by monitoring currency