It also gives a better idea of the existing trends.
This is a PESTEL analysis of the brand analysing how the brand is affected by the political, economic, social, technological, environmental and legal forces.
As new technologies are being constantly introduced to the market, speed is essential for remaining competitive in today's digital era.
The company has to reorient its strategies.
As a result of the demographics of its customer, Samsung Electronics came up with many promotional sales for its home appliances as well as mobile phones including trading in an old for new appliance and extended warranty in order to reduce the purchasing cost and extending the peace of mind of its customer.
Overall, the company can have a high power if it can develop software by its own, like the case of Apple which develops iOS system.
As a leading company in the global electronics industry, Samsung Electronics has one of the widest product ranges of key component businesses Memory, System LSI and LED, which compose essential parts of the company's well-balanced business portfolio. This cooperation makes it possible for us to better shape and control the manufacturing and quality processes of vendors, which leads to ultimately increasing the competitiveness of our products.
Conclusion The preceding analysis clearly indicates that Samsung has its task cut out for itself as it navigates the treacherous global consumer market landmine.
The company has prepared well to navigate the global consumer market.