TRADING ECONOMICS

Running head: MOLEKULE AIR FILTERS 1

MOLECULE AIR FILTERS 4

MOLEKULE AIR FILTERS

The product of focus is the Molekule air filter. Molekule air filter is a piece of technological equipment used to purify the air by filtering out unwanted content in the air, such as viruses, gaseous chemicals, bacteria, and molds from air breathed in the home environment. The Molekule air filtering ability is enhanced through the use of PECO technology. The PECO technology is the acronym of Photo-electrochemical oxidation technology that is used to capture any unwanted properties in the home environment air. The previous research done for Canada, Iran, and Tanzania is not enough since gaps exist for the chosen product.

Various factors influence the use of Molekule Air Purifiers within Canada, Iran, and Tanzania. The use of Molekule Air Purifier among the three countries can best be highlighted through the PEST analysis.

Political factors

The political factors that affect the use of Molekule Air Purifiers within Canada, Iran, and Tanzania include the rate of electronics imports, rate of tariffs, tax policy rates, and political stability rate. The rate of electronics imports in Canada is 9.7%, Iran is 16% while Tanzania is 25% for the year 2019. The tariff rates in Canada are 1.99%; in Iran, it is 5% while Tanzania is 10%. The tax policy rates in Canada for electronic imports is 5%, Iran is 10% while Tanzania is 18%.  (“Tariff rate, applied, weighted mean, all products (%),” 2020)

Economic factors

The economic factors that affect the accessibility and use of Molekule Air Filter in Canada, Iran, and Tanzania include; unemployment, poverty, inflation, and minimum wage rates. In Canada, the unemployment rate is 5.67%, Tanzania is 1.91%, and Iran is 11.99%. The poverty rate in Canada is 11.2%, Iran is 40%, while Tanzania is 36%. The Inflation rate in Tanzania is 3.86%; in Canada, it is 0.61%, while Iran is 34.22%. The minimum wage rate in Canada is $9.52 per hour; Iran is $1.5 per hour, while Tanzania is $0.60 per hour (“Tax rates tool test page,” 2020).

Social factors

The social factors that affect the use of Molekule Air Purifiers in Canada, Iran, and Tanzania include the rate of adult literacy, rate of income tax, health rates, and community safety rates. In Canada, the rate of adult literacy is 98%; Iran is 97%, while Tanzania is 78%. Canada’s income tax rate is 15%; Iran is 15%, while Tanzania is 30%. The health rate in Canada is 79%, Tanzania is 65% while Iran is 74%. The community safety rate in Iran is 66%; Tanzania is 60%, while Canada is 87%. (“Literacy rate by country 2020,” 2020)

Technological factors

The technological factors that affect the use of Molekule Air Purifiers in Tanzania, Iran, and Canada include the level of local inventions, technology education, and the government’s investment in technology. Among the three countries, Canada has a high level of technical knowledge, local technological devices, and government investment in technology while Iran and Tanzania have low levels of the respective technological factors.

The adoption and use of the Molekule Air Purifier machine since they influence the rate in which different populations are exposed to such technologies. For Molekule manufacturers to enter and succeed in the international market, they will have to use the best strategy to enter the international market. Partnering with technology companies in Canada, Iran, and Tanzania is a strategy that will allow Molekule Air Purifier to enter the international market and succeed.

References

Literacy rate by country 2020. (2020). 2020 World Population by Country. https://worldpopulationreview.com/countries/literacy-rate-by-country/

Most technologically advanced countries in the world 2020. (n.d.). Global Finance Magazine. https://www.gfmag.com/global-data/non-economic-data/best-tech-countries

Tariff rate, applied, weighted mean, all products (%). (2020). World Bank Open Data | Data. https://data.worldbank.org/indicator/TM.TAX.MRCH.WM.AR.ZS

Tax rates tool test page. (2020, February 23). KPMG. https://home.kpmg/xx/en/home/services/tax/tax-tools-and-resources/tax-rates-online/individual-income-tax-rates-table.html

Unemployment rate – Countries – List. (2020). TRADING ECONOMICS | 20 million INDICATORS FROM 196 COUNTRIES. https://tradingeconomics.com/country-list/unemployment-rate

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