PESTEL ANALYSIS:

Political factors: Since the product is manufactured outside the country, the US
government’s relationship with the countries where the product is manufactured will affect
the company. The government’s tax structure and policies will also affect the company.
Economic factors: A change in the disposable income levels of people will affect the sales
of the Microfridge. The exchange rates of the manufacturing countries will also affect the
product.
Social factors: Since it is common for college students in the US to move out of their
parent’s houses and live in college dormitories, there will be a reasonable demand for
Microfridges. Their beverage consumption is also pretty high, which means more demand.
Technological factors: The microfridge did not have any competitors with the same
technology of being able to shut off the power to the refrigerator/freezer when the oven was
being used.
Environmental factors: The company must keep in mind the various environmental
standards that are to be followed. They can also undertake some CSR activities related to the
environment.
Legal factors: Since the microfridge is a new innovation, it would have to apply for a patent.
The company will also have to adhere to various safety laws since it’s an electrical appliance.