What is pest analysis? , Marketing Management

Assignment Help:

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.


Related Discussions:- What is pest analysis?

Model of the buyer behaviour, Model of the buyer behaviour: The straigh...

Model of the buyer behaviour: The straight point for understanding buyer behaviour is also vital in the marketing is a simultaneous response model shown in the figure below. Ma

Concept of product life cycle, Considering the concept of product life cycl...

Considering the concept of product life cycle, where would you put video games in their life cycle?

What is maturity stage in marketing strategies, What is Maturity Stage in m...

What is Maturity Stage in marketing strategies? Maturity Stage: a. Try to convert non users in utilize of product. b. Enter latest market segments. c. Try to along

Advertising, Ask 1 A Chennai based soft –drink company has proposed to lau...

Ask 1 A Chennai based soft –drink company has proposed to launch a new variant of Soft-drink in three flavours lemon , rose , and orange priced at Rs.6 /- ,Rs.7/- Rs.8 /- in 300m

Describe kpi, Identify Key Performance Indicators (KPIs)    1.      Unde...

Identify Key Performance Indicators (KPIs)    1.      Undertake liaison with managers, engineers and other staff responsible for designing and/or implementing change 2.

What target market options recommend to all golf, All Golf was the first re...

All Golf was the first retail store devoted exclusively to selling Golf equipment and clothing in a medium-sized northern city. Sales were low for the first year, and then the stor

Working of first barrier of exchange in intermediaries, Define the working ...

Define the working of first barrier of exchange in intermediaries. The primary barrier for smooth exchange results by the fact which sources of supply and centres for demand ar

Selection of an advertising agency by rates charged, Q. Selection of an adv...

Q. Selection of an advertising agency by Rates Charged? Rates Charged :- The rates offered by the advertising agency must be quite responsible. These rates must suits the pock

Why is sales promotion growing, Question 1: (a) What is a communication...

Question 1: (a) What is a communication brief (or a creative brief), and how is it typically outlined? (b) Why is an IMC campaign difficult to evaluate? (c) Explain how

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd