MACROENVIRONMENT Demographic, economic, natural, technological, political & soci

MACROENVIRONMENT
Demographic, economic, natural, technological, political & social and cultural.
How to do:
· Identify factor/force(s), then explain how the factor/force(s) impact your company/ brand/
(the product i chose is panasonic air corn
products(s) growth that you have selected to focus.
Example:
Technological forces: Since 2017, there has been an increased e-wallet usage in the Malaysian
market and the trend of e-wallet is accelerating. According to Oppotus (2020), Malaysian
consumers have increased the usage of e-wallet from the 4th quarter of 2019 with 38% to 60% in
the 3rd quarter of 2020 (Appendix 2). For further evidence, the figure of transactions through ewallet has increased by 131% in 2020 and the Malaysian payment method has changed entirely
during these few years especially after the outbreak of Covid-19 (Hakem Hassan, 2021). The
expert service firm PricewaterhouseCoopers Malaysia claimed that the Malaysia e-wallet market
was predicted to increase to RM83.8 billion in 2024 (Helena, 2020). Therefore, Petronas need to
adopt the technology into their business, or else the growth may be impacted. As result, Petronas
started to provide fuel purchases directly from mobile phones, which is an application named Setel.
Fintech News Malaysia (2020) has stated that Petronas’ Setel was integrated with Boost
application to facilitate the consumers fuelling without leaving their vehicles by accessing the Setel
through Boost in 2020. © Loh X. Z. 2021
Natural forces: The rapid update of the technology and replacement of products led to the rapid
growth of e-waste. Therefore, the United Nations Environment Programme (UNEP) launched the
Recycling- From E-Waste to Resources program, advocating the global active recycling of
recyclable e-waste (Schluep et al., 2009). In Malaysia, the problem of e-waste is gradually serious.
The government predicts that, in 2020, the amount of waste will increase at an average rate of 14%
per year. Therefore, the government implemented The E-Waste Inventory Project in Malaysia,
appeal the citizen to recycle electronic waste (Perunding Good Earth, 2020). Under the trends of
government intervention from the natural environment factor, ASUS provides recycling services
in 74% of the market worldwide and the results are at 14.6% of the global sales weight. It gives
new value and life to the replacement electronic products through recycling. Since 2019, all ASUS
commercial computers contain more than 5% recycled plastics, and some of the recycled plastics
for screens are derived from recycled resources (ASUS, 2019). This action has improved the
company′s reputation and attracted a group of environmentalists, leading to sales increased. © Phut
C.L. 2021