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External Analysis

The aim of this report is to create a critical evaluation of the opportunities for Percent in the global arena. The organisation is determined as the operator of an online fundraising platform that enables users to raise money for several causes. The users are able to choose their cause and link their debit or credit card to the application. The users are also able to spend their money as different retailers in this application. The retailers are being allowed to donate a percentage of their spending to the selected cause from the retailers. This particular report will duly evaluate the marketing strategies, along with strengths and opportunities for the firm. It will also evaluate the internal and external market analysis for the firm in the market. The aspects, such as technological, economic, social, political and othe4r factors that are influencing the growth of Percent, will also be presented in this specific paper.

The identification of the macro-environmental forces of the industry that are influencing the business of Percent is possible with the PESTLE analysis.

The political factors have a massive role in determining the factors which are able to influence the finance sector of Australia and its long-term profitability (Mairhofer et al., 2019. The political factors that are influencing the finance industry of Australia are being maintained by the government. The political environment is able to influence the industry with trade traffics, conflicts, fiscal policies and taxation. The political aspects of the country are attracting new businesses that operate with new technologies. It is one of the benefits for Percent in the country (Widya Yudha and Tjahjono, 2019). The pestle has access to 8.6 million nonprofits in 81 countries and is safely delivering the donations tax of users in an efficient manner globally. These factors are increasing benefits for the company in the market of Australia.

The economic factors of a country are able to directly influence the profitability of companies, which has a massive effect on the industries also. The financial industry of Australia is directly influencing the economy of the country (Shtal et al., 2018). The economic growth of Australia depends on the finance industry and its operations. The per capita income and GDP growth of Australia is increasing, which is influencing the growth of Percent (Damean, 2020). The inflation rate of the country enables Percent to increase the donations for the individuals and connect them with global firms.

The industry environment is also being influenced by different social factors, such as lifestyle choices, purchasing habits, culture and demographics (Susanto, Adiada and Suyasa, 2018). The services provided by Percent are able to influence the choices and perception of the society. The fundraising services and disburse funds tax-efficiently worldwide is attracting a large population towards the company. The social factors influencing Percent are ethics and religion. (Li, 2018) The services of Percent includes individuals of different cultural backgrounds, which increases the long-term growth of the firm. Moreover, demographics, buying patterns of buyers, demographics, brand preferences, education, and health have a massive influence on the growth of Percent in the country.

Political

Technology is one of the aspects that is able to influence the growth of companies in different markets (Nazari et al., 2018). The adoption and usage of improved and advanced technologies have increased in the global arena. The finance industry of Australia has adopted technologies to improve the services, along with customer experience. Per cent is connecting individuals to the world and reducing the tax charges, which is influencing the perception of individuals in the country (Nandonde, 2019). The technological development in the country communication through advanced technologies, increased research and development, information technology and others are increasing benefits for the company in the country.

The legal factors are able to influence both the internal and external environment of businesses. Per cent is operating in eighty countries, and it needs to follow different laws of all the nations. The legal factors of countries are different, which are essential for the firm to operate in those markets (Christodoulou and Cullinane, 2019). Following all the laws of different countries increases challenges for the company in the global arena. The laws related to consumer protection, employment laws, regulations of the industry, along environmental regulations are essential for business (Hans, 2018). Per cent need to follow all the factors of different countries to successfully operate, which is increasing few issues.

The environmental factors include the requirements of the general or physical environment (Mataruna-Dos-Santos et al., 2019). The climate, geographical location, consumer and stakeholder values, weather, international climate change and other factors are influencing the businesses (Achinas et al., 2019). The geographical location of Australia is helping Percent to gain advantages in the country. It is also helping the company to operate in the global arena in an appropriate manner.

 Estimated GDP Growth of Australia by 2026

Figure 1: Estimated GDP Growth of Australia by 2026

(Source: Statista, 2022)

It has been identified from the above figure that the GDP growth of Australia is increasing, which evaluates the improved economic growth of the country. The estimated GDP growth of the country till 2026 is 2.46 per cent. Increased GDP growth of the country will help the firms related to financial services to increase their growth. The Percent will be able to increase its reach to a large population in more countries with the use of advanced technologies. The technological growth in the country is another aspect that is able to influence the economic growth of Australia in the future. The use of advanced technology and the support of the government to different companies towards innovation is increasing the financial growth of the country. The Percent will be able to increase its growth and services in the country due to the usage of advanced technologies and innovation. The estimated increased GDP growth of the country will help organisations like Percent to improve services and reduce the disburse fund tax efficiency with the innovation, along with advanced technologies.

Economic

The factors driving the markets have an influence on the expectations of the customers. The analysis of the consumer segments is essential to identify the opportunities and advantages of Percent.

Corporations

Millennials

Industry

Business to Business

Business to Consumers

Demographic

18-65 years

18-25 years

Market

Global

Global

Product

International nonprofit compliance ensures safety to brands and develops bank-level compliance to nonprofit platforms or products.

Authenticate, vet and validate nonprofits for discounts in different products and safely deliver tax donations to users in the world.

Functional Value

Increasing safety for brands by developing compliance with banks for platforms or products. Providing discounts on products in the world.

Delivery of tax donations by users in the international domain.

Psychological Consequences

Building giving into products digital propositions with the API of Percent.

Enabling users to world-saving effect with carbon offsetting.

Values

Convenience, Safe, Global Consequence, Generosity.

Low Risk, Environmental and Social Awareness.

The operations of Percent in more than 81 countries have improved the brand value of the company. The safety for the users through the platform and its benefits in reducing carbon offsetting is enabling the firm in gaining advantages in the world. Moreover, the partnership of Percent with specific geography with the certification of VCS and Gold standard is increasing the brand image, along with the trust of individuals.

One of the strengths of Percent is that it operates in 81 countries with the access of 8.6 million nonprofits. The availability of the services in 81 countries is enabling the company to increase its brand image. It has also achieved the trust of a large population in the international domain due to its operations in different countries (Longhurst et al., 2020). It is able to quickly build the products, which is influencing the users in the world. Furthermore, it safely delivers the tax donations of users in the world, which is one of the benefits that the company is gaining. It enables the company to increase its brand image in the international domain.

The loss of data of users is one of the challenges Percent is facing. It is able to drastically affect the issues of the firm in the world. The loss of data or technological issues is the challenge that Percent is facing while connecting the users to the world (Abdel-Basset, Mohamed and Smarandache, 2018). The delivery of tax donations by the users through online methods is another issue of the firm. The reduction in the price of products is able to affect companies, which could affect the services of Percent.

The technological development in Australia is one of the opportunities for Percent. Improvement in technology and innovation is able to provide benefits to Percent. Moreover, it is essential for the company to increase its services and gain advantages with the improvement in technology (Vlados, 2019). It is able to enable the company to gain advantages with technological improvement. The firm could attract more users from different countries with the implementation of better technologies, which will increase the opportunities for the firm.

One of the challenges for the firm is determined as the entrance of new organisations or platforms in the industry. The operations of new firms are possible due to the improved technologies in Australia (Benzaghta et al., 2021). The support of the government towards innovation and technological development is able to increase challenges for the company in the global arena. On the other hand, the availability of competitors in other countries where Percent is functioning is determined as another threat. The threat of increased competition is able to affect the services of Percent in the international arena.

Social

The TOWS Analysis evaluates the effective marketing strategies, which uses one primary theme to align it with the sustainable development goals of the United Nations.

Attracting individuals and influencing them towards increasing their tax donations in the world is one of the primary goals of Percent. It is one of the effective ways to reduce the carbon offset, which is a sustainable development goal of the United Nations. The management of natural resources to improve carbon offset is another SDG of the UN. It is being maintained by Percent, which increases the operations of the company. The marketing strategy of the company needs to be aligned with the SDG of the United Nations to improve its growth in the global market, which with Australia. The alignment of the sustainable development goals of the UN will help the company to gain advantages from the world. The inclusion of advanced technologies is vital to increase the user base of Percent.

Markets

New

Market Development

Diversification

Providing users to offset their effect on the carbon offset through the platform. The alignment of the marketing strategies with the sustainable development goals of the United Nations.

The development of value programs with the partners with complementary social programs to offer benefits for the users by increasing their tax donations in the world.

Market Penetration

Product Development

Existing

The development of new campaigns with the existing contents to evaluate the UN sustainable development goals. The alignment of the SDG of UN will increase the user base of Percent.

The use of different kits for marketing to demonstrate the CSR activities with the marketing strategies.

The inclusion of a tracker that is able to track the social outcome and improve the tax donations by individuals. The tracker will help the users to identify their effect on the financial growth of the country, along with the emission.

Existing

New

Products

It is essential to achieve market penetration, which is possible by the development of new content with the existing marketing. Achieving market penetration by the company will help in aligning the sustainable development goals with the marketing strategies. The user of the international domain will be attracted by the company, which will increase its growth. The operations of the company will improve with the alignment of the SDG of the UN (Sukma, Lubis and Utami, 2019). It is essential for the firm to provide marketing through different platforms to increase its user base in the world. On the other hand, the marketing strategies of the company will help in gaining advantages from the international domain by improving the services with the help of improved technologies (Zanjani et al., 2020). In addition, the new technologies and marketing methods will increase the reach of the company in the international domain. Technological development will also help in ma nagging the tax donations of users for the nonprofits in all 81 countries where Percent is functioning.

Conclusion

It was concluded that the Australian market of financial services is growing due to the increased number of consumers. The technological advancement of the country is also helping firms to gain advantages. Moreover, the success of Percent is increasing due to the use of advanced technologies. Moreover, the users of the platform are able to give their tax donations to the world with the use of this particular platform. It is essential for the firm to align its marketing strategies with the UN sustainable goals to influence the users. The inclusion of new content in the existing marketing will also increase the growth of the firm.

Technology

Reference

Abdel-Basset, M., Mohamed, M. and Smarandache, F., 2018. An extension of neutrosophic AHP–SWOT analysis for strategic planning and decision-making. Symmetry, 10(4), p.116.

Achinas, S., Horjus, J., Achinas, V. and Euverink, G.J.W., 2019. A PESTLE analysis of biofuels energy industry in Europe. Sustainability, 11(21), p.5981.

Benzaghta, M.A., Elwalda, A., Mousa, M.M., Erkan, I. and Rahman, M., 2021. SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), pp.55-73.

Christodoulou, A. and Cullinane, K., 2019. Identifying the main opportunities and challenges from the implementation of a port energy management system: A SWOT/PESTLE analysis. Sustainability, 11(21), p.6046.

Damean, X., 2020. Metoda PESTLE-strategie important? în identificarea avantajelor comparative ?i competitive a sectorului vinicol în diverse economii na?ionale.

Hans, V.B., 2018. Business environment–conceptual framework and polices. International Educational Scientific Research Journal, 4(3), pp.67-74.

Li, S., 2018. A PESTLE Analysis of the Cryptocurrency Industry: An Investment Perspective.

Longhurst, G.J., Stone, D.M., Dulohery, K., Scully, D., Campbell, T. and Smith, C.F., 2020. Strength, weakness, opportunity, threat (SWOT) analysis of the adaptations to anatomical education in the United Kingdom and Republic of Ireland in response to the Covid?19 pandemic. Anatomical sciences education, 13(3), pp.301-311.

Mairhofer, F., Florian, C., Weiss, A., Pfeifer, A., Plitzner, C., Prünster, T., Van den Pol-van Dasselaar, A. and Peratoner, G., 2019. A method to lead discussion groups for the analysis of grassland innovations. In Improving sown grasslands through breeding and management (Vol. 24, pp. 500-502).

Mataruna-Dos-Santos, L.J., Zardini-Filho, C.E. and Cazorla Milla, A., 2019. Youth Olympic Games: Using marketing tools to analyse the reality of GCC countries beyond Agenda 2020.

Nandonde, F.A., 2019. A PESTLE analysis of international retailing in the East African Community. Global Business and Organizational Excellence, 38(4), pp.54-61.

Nazari, B., Liaghat, A., Akbari, M.R. and Keshavarz, M., 2018. Irrigation water management in Iran: Implications for water use efficiency improvement. Agricultural water management, 208, pp.7-18.

Shtal, T.V., Buriak, M., Ukubassova, G., Amirbekuly, Y., Toiboldinova, Z. and Tlegen, T., 2018. Methods of analysis of the external environment of business activities.

Statista, 2022. Estimated GDP Growth of Australia by 2026. Economy & Policies: Available at: https://www.statista.com/statistics/263602/gross-domestic-product-gdp-growth-rate-in-australia/. [Accessed on: 12.03.2022]

Sukma, D., Lubis, P.H. and Utami, S., 2019. Analysis of Marketing Strategy of Minyeuk Pret Using STP, Ansoff Matrix, and Marketing Mix.

Susanto, P.C., Adiada, A.A.K. and Suyasa, N.L.C., 2018, November. Identification of tourism potentials in Catur Village Kintamani. In Proceedings of the National Scientific Seminar on Science and Social Humanities Technology (pp. 527-537).

Vlados, C., 2019. On a correlative and evolutionary SWOT analysis. Journal of Strategy and Management.

Widya Yudha, S. and Tjahjono, B., 2019. Stakeholder mapping and analysis of the renewable energy industry in Indonesia. Energies, 12(4), p.602.

Zanjani, S., Iranzadeh, S., Khadivi, A. and Feghhi Farahmand, N., 2020. Designing a Corporate Growth Strategy Based on Ansoff Matrix Using Fuzzy Inference System. Innovation Management in Defense Organizations, 3(2), pp.151-178.

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[Accessed 17 July 2024].

My Assignment Help. 'Critical Evaluation Of Opportunities For Percent In The Global Essay.' (My Assignment Help, 2022) <https://myassignmenthelp.com/free-samples/busm4739-marketing-for-managers/market-intelligence-report-file-A1DD01E.html> accessed 17 July 2024.

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