MKT744 Global Marketing and Sales Management Assignment Sample
PESTLE ANALYSIS OF INDIA, NIGERIA, TURKEY, UK
PESTLE of Indian chemical industry
| Factors | Analysis | Impact | Implications |
| Political | ● Average political stability
● India is a peaceful country ● The election process of this country is partially fair ● “Single integrated judicial system” ● The corruption rank has increased by 86 in 2020 (Trading economics, 2020) ● It is maintaining a nontariff regulation
● The member of Commonwealth of Nations ● Second largest investor in the United Kingdom ● Low revenue taxes of 15% are set by government for international chemical industries (Lesage et al. 2020) |
Moderate | Thus, the government has offered a variety of schemes for international organisations that can be attractive for ReAgent to establish their business operations in India. The company needs to be careful about the political issues in the country. |
| Economical | ● 18-23% economic growth of chemical industry (Ibef. 2021)
● Overseas monetary distribution ● The inflation rate was approximately 6.18% in 2020 (Statista, 2022) ● Many component policies contribute to the fiscal policy of India ● The GDP was approximately 2.87 trillion U.S in 2019 (Statista, 2022) ● The rate of unemployment was approximately 7.11% 2020 (Statista, 2022) |
Low | The economic condition of the country can bring some issues to the company. Therefore, the company needs to be careful while making strategies for profitability. |
| Social | ● Current population is 1402, 754,293 (Worldometers, 2022)
● Increasing focus on gender equality ● Per capita net national income is INR 128,829 (Statistics Times, 2022) ● Increasing online shopping trend is positively influencing customer behaviour ● Collectivism culture is followed with respect for elders |
High | The Indian chemical market has a higher demand for online preferences, which will provide an advantage for ReAgent in the competitive market of India |
| Technological | ● The utilisation of advanced technology is supporting businesses
● Internet connectivity and electricity supply is fairly spreading ● 80% growth in online banking (Financial Express, 2021) along with increasing trend of online shopping ● Sound logistics and advanced marketing facilities |
Moderate | Updated technology will provide better customer satisfaction and better management of the supply chain sector of the ReAgent |
| Legal | ● Employment and Labour Law
● Consumer protection Act ● Occupational health and safety regulations |
Low | ReAgent as an International company must focus on laws established for the Indian market. Thus, it will provide better knowledge of the Indian market to the company. |
| Environment | ● Environment Protection Act 1986
● Extended focus on waste recycling ● Third place in the global emission list (Thakur, 2021) ● Electricity Act ● Focus on noise reduction ● Water pollution is increasing (Hirani and Dimle, 2019) ● Focus on plat and animal protection |
High | Environment has been a major factor for each and every chemical organisation. Thus, ReAgent has to control and focus on their responsibilities towards controlling pollution. |
Analysis
The political sector of India has a greater impact on the establishment of a new company as of ReAgent international. Thus, the government of India has a separate department that highlights and assists the new established international businesses in India. ReAgent International will face a moderate or low revenue tax of 15%, which is received by the government of India for the international chemical sector established in the country (Lesage et al. 2020). There is a rapid growth in the chemical sector of India, which results in 18 to 23% of economic growth for the country (Ibef, 2021). Thus, India has a higher demand for quality products in the chemical industry, which can be a beneficial aspect for ReAgent to establish in the Indian market. The social aspect of India has been focusing and demanding a new one developed organisation in the chemical sector.
Hence, there is increased demand in the chemical sector for the quality of products and services provided by chemical organisations. Therefore, increase in demand has to be managed sufficiently by ReAgent international to provide data services to the consumers in the Indian market. Thus, the utilisation of advanced technologies can be beneficial to enhance the supply chain management and services for ReAgent in the Indian market. As for the legal aspect related to the chemical industry of India, there are some major rules or regulations that need to be abided by ReAgent to operate in the India market (Chemsafetypro, 2021). When it comes to the environment, the chemical industries all around the world deliver the most amount of emission and pollution (Swuste et al. 2019). ReAgent international has to focus on the waste in the water pollution that will be created by the production and preservation of chemicals in the manufacturing unit. Hence, the company has to take precautions against creating way too much pollution for the environment.
PESTLE of Nigerian chemical sector
| Factors | Analysis | Impact | Implications |
| Political | ● Inadequate political stability resulting average peace in the country and judiciary independence
● Nigeria has a significant free and fair elections (Oecd, 2022) ● Corruption perception index score is 24 as per the reports of 2021 (Transparency, 2022) ● Nigeria signed the African Continent Free Trade Area Agreement (Trade, 2022) |
Moderate | ReAgent can earn benefit from Nigeria as the political committees supported by the government are supportive to international trades organisation. The cost of production can become an advantage for the organisation as the workforce is affordable in the country. |
| Economical | ● With a population of over 200 million people, Nigeria is Africa’s largest market
● 4.03% GDP growth rate (Statista, 2022) ● Lack of effective fiscal rules ● 11.85% monetary policy rate (Focus-economics, 2021) ● 13.25% inflation rate (O’Neill, 2021) |
Moderate | The growth rate of Nigeria has been moderate, contributing only to the oil reserves of the country. ReAgent being a chemical-based industry might find it struggling to find a demanding market in Nigeria. |
| Social | ● Current population is 214,699,305
● Average annual rate of gender ratio is growing by 0.23% ● Birth rate of Nigeria was 37 per 1000 people in 2020 (Knoema, 2022) ● Disposable annual average income level was 13213200.56 NGN million (Trading Economics, 2022) ● Increasing trend of online preferences is influencing consumer behaviour ● Cultural values include dignity of labour, self-reliance and courage, respect for elders and others |
Moderate | As per the social aspect of Nigeria, it can create future growth opportunities with increasing online focus. Thus, ReAgent will not find Nigeria attractive as per the social elements. |
| Technological | ● Lack of technology reflecting inadequate business support
● Nigeria has been focusing on online banking facilities ● Electricity supply and internet connectivity is spread inadequately ● Around 80% consumers are shopping online in Nigeria (Mastercard, 2022) |
Low | ReAgent will face a lack of innovative machineries and workplace equipment to gather for their management. As per the matter of technology, Nigeria has been lacking behind for a long period of time. |
| Legal | ● The Companies and Allied Matters Act
● Nigerian Investment Promotion Commission Act ● The Labour Act ● Consumer Protection Council Act 2004 ● Factories Act and Labour Law |
High | Nigeria has regulations as per the organisational aspect to trade internationally. ReAgent chemicals have to adapt to the laws of the Nigerian government to operate without any hazards. |
| Environment | ● Federal Environmental Protection Agency Act of 1988
● National environmental protection regulations ● Extended focus on waste recycling operations ● CEGR regulation power and electricity usage ● Profound focus on noise reduction along with air and water pollutions, protection of plants and animals from harm |
High | Nigeria has prominent acts or regulations to protect their environment which should be implemented by any organisations operating from Nigeria. Thus, ReAgent have to maintain and follow the rules that have been set by the government of Nigeria in behalf of protecting their environment. |
Analysis
As per the government of Nigeria, the political scheme has to be implemented by the organisation to operate hassle-free in the country. The government supports development in terms of foreign trade that may be beneficial for ReAgent. The government, on the other hand, is primarily concerned with the country’s oil riches. Nigeria has a population of more than 200 million people, making it Africa’s largest market. With a lucrative GDP budget, the country is growing at a pace of 4.03 % (Trade, 2021). As a result, ReAgent may see Nigeria as a viable option for expanding their worldwide franchises.
The social element of Nigeria, on the other hand, is insecure in many ways, since the country has been confronted with threats such as business committee problems and human trafficking (Classhall, 2022). The country has been lacking in terms of technology development from the past decades. Thus, the government of Nigeria is not initiating any programs that may encourage the development of technology and advancement of organisations in the country. Nigeria is a technologically backdated country all around the globe.
The lack of technology can be a negative point to the organisations that want to establish international franchises in the nation. ReAgent chemicals might face problems in terms of adapting to organisation technologies. As a result, the organisation will lag innovative missionaries and innovations in the supply chain system. Though Nigeria has been lagging in terms of technological development, the country has been strict with its law and regulations as per the legal standards for international organisations established in the country.
Nigeria has three major acts, which are related to the organisational operations in the nation are the Companies and Allied Matters Act, Value Added Tax Act, and Nigerian Investment Promotion Commission Act. Based on the environmental aspect of the country, Nigeria has a Federal environmental Protection Agency Act 1988, which promotes the protection of the environment from waste products generated from organisations (Placng, 2022). ReAgent must maintain and respect the rules established by the Nigerian government to safeguard their environment.
PESTLE of Turkey chemical industry
| Factors | Analysis | Impact | Implications |
| Political | ● Turbulent politics and inadequate political stability
● Instability in political views ● It is one of the most peaceful countries ● The country has 3 types of court, which are judicial, administrative, and military ● Since 1945 it is a member of the UN ● With the UK the country has been maintaining a good bilateral relation
|
High | ReAgent will face difficulties as they invest to operate in Turkey as a chemical organisation. As the political situation or standards are unstable in the country, and the relationship with the UK is good, it will be helpful for the company. |
| Economical | ● Turkey has an average of 5% economic growth
● It has raised the per capita income from $3,000 to over $9,000 (Wipo, 2020) ● GDP of the country was approximately 719.92 billion U.S. dollars in 2020 (Statista, 2022) ● “The Central Bank of the Republic” is responsible for exchange rate and monetary policy of this country ● In 2020 the average rate of inflation was approximately 12.28, in comparison with the previous year (Statista, 2022) ● it has an expansionary fiscal policy (Oecd, 2019) The unemployment rate of this country was 13.92 percent in 2020 (Statista, 2022) |
High | ReAgent may generate a huge amount of profit from establishing their existence in the country. Turkey’s economic growth is growing rapidly and that can be beneficial for ReAgent in the long run. The GDP growth rate of the country is reflecting that the company can get an advantage of it. |
| Social | ● The population rate of the country was approximately 83.61 million in 2020 (Statista, 2022)
● The country consists of hard-working business communities (Export, 2019) ● The literacy rate of Turkey was approximately 96.74 % in 2029 (Statista, 2022) ● Some of the core values of the country “neighbourliness”, “a sense of honour”, and “hospitality” ● Factors like age group, cultural values and economic status are influencing the purchasing behaviour of customers in the country ● The country has reduced barriers regarding trade in 1995, that reflects openness (The global economy, 2022) ● Between 2010 to 2019, approximately 4.7 million and 4.6 million, women and men population rate has increased respectively (Statista, 2022) The rate of fertility was 2.06 children per woman in 2019 (Statista, 2022) |
High | The country financial aspect attracts foreign investors to establish their business into Turkey. ReAgent will find it easier to establish their business in Turkey as the community of the business in Turkey are friendly and encourage foreign trade. The literacy rate of the country will help the company in several ways in its business operations. |
| Technological |
● As per Global Innovation Index turkey rank 52 at innovation inputs ● The country is facing rapid technological growth ● Approximately 91% of the household of this country had internet access in 2020 (Statista, 2022) ● Technological growth in influencing the growth of telecommunication ● High online shopping rate is enhancing the growth of e-commerce (Statista, 2022) ● Transportation services are good ● The use of advanced technology has been enhancing marketing opportunities ● Coal was the main used sourced for electricity production in 2019 (Statista, 2022) ● The number of cash withdrawals using foreign cards increased by approximately 1.4 million transactions between 2013 to 2017 (Statista, 2022) |
High | The country has a young population and quick technological advancement, ensuring that ReAgent will be able to adapt to new discoveries and technologies. The rapid growth of technology is undoubtedly will enhance the production rate of the company. |
| Legal |
● Employment and labour law 2021 ● OHS Laws have been followed ● Employment-related laws are influencing the business laws |
Moderate | Turkey abides by the mentioned legal attributes that maintain complete interrelation with the employees’ health and safety along with fundamental rights. It maintains a high impact in the respective chemical industry where greater attention is kept on ensuring employees safety. |
| Environment | ● Polluting local water channels are prohibited
● Releasing wastewater to a third party before treatment are a criminal offence (Elvan, 2018) ● The country is greatly affected by the climate change ● The government has been focusing on the reduction of noise ● The government is taking steps to reduce the water and air pollution, to do that it has been taking steps to protect animals and plants ● To reduce the consumption of energy the use of the solar systems has been increasing ● CO2 emission of the country was 4.83 tons of CO2 per capita in 2020 (Knoema, 2022) |
High | ReAgent being a chemical baked corporation has to maintain and follow strict laws that are set by the government of turkey. The organisation has to create a plant for the treatment of waste water released from the manufacturing units. As government has been taking steps to improve or protect the environment the company has to be focused on that. |
Analysis
As per the political aspect of Turkey, the country is based on turbulent politics. The country seems to have instability in its political views. Hence, ReAgent will face difficulties as they invest to operate in Turkey as in the base organisation of the chemical production unit. The political team of Turkey consists of a team that is based on a complex bureaucracy. On the other hand, Turkey has a growth of 5% in the economic sector, which has resulted in raising their per capita income from $3000 to over $9000 (Wipo, 2020). The company has been growing at a rapid pace in their economical sector.
Turkey’s economy is quickly expanding, which might be helpful to ReAgent in the long run. The country has excellent growth prospects, and it is made up of hardworking business groups, as seen by their economic situation. As a result, ReAgent will have an easier time establishing their firm in Turkey because the Turkish business community is amicable and encourages international trade.
Turkey achieves an accuracy of technology inputs than innovation outputs, as seen by its ranking of 52 for innovation inputs and 53 for innovation outputs in the Global Innovation Index. As a result, ReAgent will be adaptable to different findings and technologies due to the country’s young population and rapid technological growth. Polluting local waterways is illegal, and industries that release wastewater to a third party channel of water before treatment are breaking the law of turkey (Elvan, 2018). The ReAgent being a chemical formation organisation will not be authorised to discharge hazardous water waste or effluent into Turkish territorial seas.
PESTLE of UK chemical industry
| Factors | Analysis | Impact | Implications |
| Political | ● The country has become more peaceful after 2003
● The country has political stability ● The election process of the UK is free and fair ● The corruption score of the UK was 78 in 2021, which is a bit higher than previous year (Statista, 2022) ● The country is maintaining a good relationship with foreign countries that give great strength ● The country has no significant barriers for investment ● The UK has no barriers on transfer of capital (Gov, 2021) |
High | The government of the UK has been supporting businesses in the chemical industry. The country has an open and transparent policy that encourages entrepreneurs (Parliament, 2022). Hence, it will be helpful for ReAgent. The international relationships of the country can also help ReAgent to expand in foreign countries. As there are no barriers for transaction of capital and investment it will help the organisation. |
| Economical | ● As per the information found in Statista, (2022), the UK economy has grown by approximately 7.5 % in 2021 (Refer to appendix 1)
● As per the information found in Statista, (2022), the Gross Domestic Rate (GDP) of the country is 6.76% (Refer to appendix 2) ● Focus of the fiscal policy is to improve sustainability in the UK ● Unemployment rate increased by 0.1% (ONS, 2022) ● The inflation rate was 2.19% in 2021 (O’Neill, 2021) |
High | As the economy of the UK is one of the largest economies, it can support ReAgent to grow in the chemical industry. The company has a great potential to grow the business in the country as the pharmaceutical and chemical industry is the 2nd largest industry. |
| Social | ● Average income level was around 31,487 GBP (Clark, 2021)
● Around 35% people are educated ● The country has a population of approximately 67 million people (Statista, 2022) ● Individualistic cultural values ● Technological advancement is influencing online consumer behaviour
|
High | The population of the country reflects that ReAgent can easily get efficient employees that will help the company to be sustainable. |
| Technological | ● The UK has extended technological advancement to support business
● Rising preferences of online banking and ATM services ● The country has been focusing on effective distribution internet connectivity and electricity supply ● Extended growth of online shopping where overall spendings are likely to grow by 30% by 2024 (Williams, 2019) |
High | It can be said that the company has the potential to grow in the country as the country focuses on innovation and technological advancement. |
| Legal | ● UK Consumer Protection Law
● “Health and Safety at Work etc Act 1974” focuses on employee safety. ● Employment Act 1996 is focused on the rights of employees (Legislation, 2022)
|
High | Legal factors of the country are reflecting that it will be helpful for the company. Laws and regulations regarding employees can help ReAgent to manage its employees in a positive manner. |
| Environmental | ● The Environment Act
● Average carbon footprint is 10 tonnes carbon-di-oxide per person in each year (Carbon Independent, 2022) ● Adequate concern to reduce and control carbon footprint to encounter climate change and global warming ● The Energy Act 2013 |
High | As the country has been focusing on nature and the environment it can help the company for sustainable development. |
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