Answer outline to Marketing concepts
Segmentation, targeting and positioning
Marketing Fundamentals 1
City of University
Marketing Fundamentals 2
PESTL is one of the concepts in marketing principles. With the launch of iPhone X into the
market, there are factors in the external environment that affect its entry into the market.
Political factors are factors that determine the extent to which the government has an influence
on the economy or to an industry in particular (Reic 2016). With the launch of the iPhone, X
government may impose a duty on the new iPhone X, which will cause the structure of the
pricing of the new smartphone to change.
Economic factors are determinants that define the performance of the economy, which inherently
have a direct impact on a company’s new product (Reic, 2016). With the example of the iPhone
X when there is a rise in inflation rate in the economy, this will force the Apple Company to
change the price of its iPhone X. Adding to that the economy will affect the purchasing power of
the consumers and also cause a change in demand and supply.
Social factors are factors within the social environment in a market (Reic, 2016). For the iPhone
X, social factors such as trends in the target market will determine the demand for the new
smartphone in the market.
Technological factors are factors that relate to innovation that affect an industry (Reic, 2016). In
the case of the iPhone X advancement in smartphone technology such as processing power may
determine the success of the new smartphone in the telecommunication industry because t...