Answer to Question #213882 in Marketing for Bahati Mnyaci

Question

Carry out an environmental audit in the form of a PESTEL analysis for EV market ensuring that you detail specific market/organisational related facts that are fully referenced where possible. Additionally, you should highlight relevant micro-environmental aspects such as dominant competitors within the industry and recent competitor activity.

Answer 1

Pestel analysis is a combination of environmental and legal factors used in understanding market growth, decline, And direction for operation. In the EV market, an audit will focus on the factors that may bring about growth or decline in the Electronic Vehicle market. Political factors: environmental laws that protect the environment to encourage the production of environmentally-friendly vehicles. Electricity is one of the most friendly sources of energy and thus this political law will spur growth in the said market. In an environmental aspect, electronic cars are marketed as environmentally friendly because it uses electricity more than gas. 

Social: Deals with societies attitude towards products in that they encourage those that don't bring about environmental degradation. Societies are encouraged more friendly electronic vehicles. Economic factors: due to issues such as an increase in fuel prices, demand for energy-saving machines has gone high. The legal aspect focuses on the need to keep up-to-date on their international patents. The EV car focuses on eco-friendliness, they can promote their cars as energy-efficient and ensure it abides by international environmental regulations. Some of the microeconomic factors include Competitors who are the rivals in the market, the General public who have potential interest in the company, Customers who are crucial to the market and Suppliers who deliver inputs to the business, for example, raw materials.