1: PEST Analysis
2: 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 organizations 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.
4: Political Factors The political arena has a huge influence upon the regulation of businesses, and the spending power of consumers and other businesses.
5: 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.
6: Sociocultural Factors The social and cultural influences on business vary from country to country. It is very important that such factors are considered.
7: Technological Factors Technology is vital for competitive advantage, and is a major driver of globalization.
8: SUMMARY
9: Thank You!
