PESTEL Analysis and Impact on Introduction of New Product and Service

Running head: MARKETING MANAGEMENT
Marketing Management
Name of the Student
Name of the University
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MARKETING MANAGEMENT1
Table of Contents
3. PESTEL Analysis and Impact on Introduction of New Product and Service........................2
4. SWOT Analysis and Its Use in Marketing Plan.....................................................................3
5. Segmentation, targeting and positioning in marketing (STP)................................................4
6. New product/services launch or brand management: A success and failure.........................6
References..................................................................................................................................7

MARKETING MANAGEMENT2
3. PESTEL Analysis and Impact on Introduction of New Product and Service
The PESTEL analysis of Australia helps in identifying the impacts of the macro
environmental factors such as political, economic, social, technological, environmental as
well as legal aspects.
Political Factors- The political condition is stable in Australian economy and it
allows the investors to feel confident in the different purchases. The efficient and transparent
legal framework is the other factor which should be beneficial for the hotels to run their
business and deliver appropriate services (Yuan 2013).
Economic Factors- Australia is the strong and enviable economy wherein there is
diverse natural resources which helps in attracting high level of foreign investment
appropriately (Wheelen et al. 2017). Furthermore, Australia is considered to be large service
sector and is the significant exporter of natural energy and resources that will be opportunity
for hotels and motels to succeed. Lastly, Australian dollar is the most traded currency and it
will be appropriate for the growth of hotels.
Social Factors- Australia is the multi-cultural country and there are upper, middle and
working-class individuals who can afford different kinds of costly hotels. Moreover, the rate
of literacy is high and it helps in understanding that the hotels and other motels are affected
by the wealth of the individuals (Wheelen 2014).
Technological Factors- The information and communication technology playa a
major role as the research and development has taken a huge position in Australian economy.
Moreover, in case of hotels and motels, the technological advancements are the most
appropriate aspects which are required to be implemented (Rothaermel 2013).