Industry Forecasting

Introduction – Industry Forecasting

An industry is a group of businesses that offer similar products and/or products that could substitute for the other. Some companies may offer the same product as other companies, yet it may be marketed in a different way that would make consumers want to purchase products from them rather than the other companies. Industries offer products in hopes of being unique and obtaining consumer’s relationship. Whatever product an industry produces, they want to make sure there is a need or desire for it. Needs are the basic forces that drive customers to take action and engage in exchanges (Mullin, 2008).

This paper discusses the impact of the PC (Personal Computer) industry and the successful marketing of a company’s product using the PESTEL (Political, Economic, Social, Technological and Environmental) analysis. It also analysis the various factors that are perceived to be weakness as well as strength of the PC industry. And, finally discusses some of the opportunities for growth that could be capitalized upon over the next five years.

Impact of Successful Marketing on the PC Industry using PESTAL Analysis

Political impact is minimal due to light regulations. But, both newly established and recently revised government policies force technology companies react to the changing landscape of macro-environmental conditions and place increased emphasis on certain aspects of operations. Also, changing regulations on import and export, increased awareness to foreign corrupt practices act, issues dealing with pricing and protecting private property in turn, take a hit on their bottom line. Other political implications include patents on technology issued by the United States Patent and Trademark Office (Keizer, 2010).

Economic impact depends upon different trends that are quintessential for the success or failure of the PC industry. The main trend being consumer sentiment index and is directly proportional to the economy. Revenues in the...