PEST Analysis

Сентябрь 6, 2022

Содержание

2. What is PEST Analysis? It is very important that an organization considers its environment before beginning
4. Political Factors The political arena has a huge influence upon the regulation of businesses, and the
5. Economic Factors Marketers need to consider the state of a trading economy in the short and
6. Sociocultural Factors The social and cultural influences on business vary from country to country. It is
7. Technological Factors Technology is vital for competitive advantage, and is a major driver of globalization.
8. SUMMARY
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What is PEST Analysis?
It is very important that an organization considers

its environment before beginning the marketing process. In fact, environmental analysis should be continuous and feed all aspects of planning. The organization's marketing environment is made up from:
1. The internal environment
2. The micro-environment
3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors.

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Political Factors
The political arena has a huge influence upon the regulation

of businesses, and the spending power of consumers and other businesses.

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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.

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Sociocultural Factors
The social and cultural influences on business vary from

country to country. It is very important that such factors are considered.

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Technological Factors
Technology is vital for competitive advantage, and is a major

driver of globalization.

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SUMMARY