What is pest analysis? , Marketing Management

The PEST analysis is a structure that strategy advisors utilize to examine the external macro-environment in which a firm works. PEST is an acronym for the subsequent factors

  1. Political
  2. Social
  3. Economic
  4. Technological

PEST factors play a significant role in the value formation opportunities of a strategy. Though they are generally outside the power of the corporation and should normally be taken as either threats or opportunities. Remember macro-economical factors can be different per country, continent, or even region, so usually a PEST analysis must be performed per country.

Completing a PEST Analysis is comparatively easy, and can be done through workshops using brainstorming methods. Practice of PEST analysis can differ from: company and strategic planning, business and product development, marketing planning, and research reports.

Variants of PEST Analysis

At times extended forms are utilized, like SLEPT Analysis (plus Legal) or the STEEPLE Analysis: Social/demographic, Economic, Technological, Political, Environmental (natural), Legal and Ethical factors. Geographical factors may be important too.

Posted Date: 8/4/2012 3:57:10 AM | Location : United States







Related Discussions:- What is pest analysis? , Assignment Help, Ask Question on What is pest analysis? , Get Answer, Expert's Help, What is pest analysis? Discussions

Write discussion on What is pest analysis?
Your posts are moderated
Related Questions
Explain the term- fast-moving consumer goods Marketing communications which are undertaken by organisations within these systems can be regarded as a series of communication ep

Natural Environment: (1) Natural Resources: Business depends on natural resources. Raw material is one main part of these resources and firms are concerned with their availa

Ari is 3 yrs older than eric. In 3 yrs from now, ari will be twice as old as eric will be. How old are they now?


Do you think Jack is equipped with the managerial skills needed to head up a team that develops strategies for adapting existing company products into new products for sales

1. Isaac goes to an amusement park where tickets for the rides cost $25 per sheet and tickets for the shows cost $10 each. a. Write an expression that describes the amount of money

The venture capital firm called MIT Ventures is considering a $5M first round investment in Brainiac.com. MIT Ventures proposes to structure the investment as 5M shares of converti

Question 1: (a) CRM means different things to different people. For one it is direct mailing for others it is an IT system. Draw a diagram and discuss the basic model for CR

Explain about Marketing in words of American Marketing Association. Marketing: The American Marketing Association (AMA) explains marketing by “The process of executing and

Explain the term - Promotion Promotion refers to process of informing and persuading the consumers to buy certain product. By using this process, marketers convey persuasive me