In terms of Naro Car Company, penetrating into the UK market would be a positive move as the consumer spending towards new and innovative automobiles is pretty high as compared to other European Countries and there are likely chances that by viewing the innovation in Naro Car, a lot many customers may come forward to purchase it therefore that is one positive economic factor linked with consumer spending for Naro car. The chances of diversification into other new automobile type too exist for Naro car by staying in the UK. Economic activity supports mergers and strategic alliances which is quite possible for Naro Car Company if it intends to stay in the UK (Simken, 2008, p.198).
Social: Social Analysis include Demographics, consumer behavior, leisure interest, income distribution, living standards, health consciousness, fashion and lifestyle changes. If the UK is linked to social analysis then it can be identified that the Britain comprises of people from various nationalities and due to that there is a mixture of every culture present in the UK (Abrams, 2003, p. 102).
If Naro Car Company penetrates in the UK market then it is highly likely to get positive response as consumer behavior towards such vehicles is pretty positive. People are amused and yet excited to get experience of new innovations and also have high income to afford such rides. With an interesting and social lifestyle it is likely for Naro Car to receive great response in the UK when it is launched. Car culture in the UK is on the roll most of the year as car lovers are always thrilled to get hold of new rides that are present in the market. Therefore strong car culture present in the UK proves to be one healthy point for Naro Car Company.
Technology: Technological factor is also of great importance in PESTEL analysis as it clearly identifies the level of technology present in the nation where the product or the company’s offering would be put on for sale. Technology is important with the fact that it can assist the company in producing its offerings if high technology is present. Low or no technology is a negative point during PESTEL analysis.
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