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What is PEST Analysis?
PEST analysis is very important that an organization considers its environment beforebeginning the marketing process. In fact, environmental analysis should be continuous and
feed all aspects of planning. The organization's marketing environment 代写留学生论文is made up from:
1. The internal environment e.g. staff (or internal customers), office technology, wages and
finance, etc.
2. The micro-environment e.g. our external customers, agents and distributors, suppliers, our
competitors, etc.
3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural
forces, and Technological forces. These are known as PEST factors.
Political Factors
The political arena has a huge influence upon the regulation of businesses, and the spending
power of consumers and other businesses. You must consider issues such as:
1.How stable is the political environment?
2.Will government policy influence laws that regulate or tax your business?
3.What is the government's position on marketing ethics?
4. What is the government's policy on the economy?
5. Does the government have a view on culture and religion?
6. Is the government involved in trading agreements such as EU, NAFTA, ASEAN, or
others?
Economic Factors
Marketers need to consider the state of a trading economy in the short and long-terms. This
is especially true when planning for international marketing. You need to look at:
1. Interest rates
2. The level of inflation Employment level per capita
3. Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so
on
Sociocultural Factors
The social and cultural influences on business vary from country to country. It is very
important that such factors are considered. Factors include:
1.What is the dominant religion?
2.What are attitudes to foreign products and services?
3.Does language impact upon the diffusion of products onto markets?
4.How much time do consumers have for leisure?
5.What are the roles of men and women within society?
6.How long are the population living? Are the older generations wealthy?
7.Do the population have a strong/weak opinion on green issues?
Technological Factors
Technology is vital for competitive advantage, and is a major driver of globalization. Consider
the following points:
1. Does technology allow for products and services to be made more cheaply and to a better
standard of quality?
2.Do the technologies offer consumers and businesses more innovative products and
services such as Internet banking, new generation mobile telephones, etc?
3.How is distribution changed by new technologies e.g. books via the Internet, flight tickets,
auctions, etc?
4.Does technology offer companies a new way to communicate with consumers e.g.
banners, Customer Relationship Management (CRM), etc?
PEST analysis method and template
The PEST analysis is a useful tool for understanding market growth or https://www.51lunwen.org/marketingresearchproposal/decline, and as such
the position, potential and direction for a business. A PEST analysis is a business
measurement tool. PEST is an acronym for Political, Economic, Social and Technological
factors, which are used to assess the market for a business or organizational unit. The PEST
analysis headings are a framework for reviewing a situation, and can also, like SWOT
analysis, and Porter's Five Forces model,