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?

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

Explain about the shopping goods, Explain about the Shopping Goods. S...

Explain about the Shopping Goods. Shopping Goods: These are usually expensive Homogeneous as well as Heterogeneous items. a. Homogeneous Goods: White goods as like T

Brand loyalty, Brand loyalty: The starting point in understanding brand...

Brand loyalty: The starting point in understanding brand equity is the extent to which a brand enjoys customer loyalty. It is important to discriminate between habitual buying

Draw payoff diagrams, The venture capital firm called MIT Ventures is consi...

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

Strategic marketing decisions, Strategic marketing decisions: Strategic...

Strategic marketing decisions: Strategic marketing decisions are primarily concerned with external, rather than internal, marketing problems of the firm and especially with the

How social class affects consumer behaviour, Question: "A number of ext...

Question: "A number of external influences affect consumer behaviour and purchase decision processes". In the light of the above statement, a) Discuss how social class a

Consumer Behaviour, Explain Henry Assael Model of buying decision behaviour...

Explain Henry Assael Model of buying decision behaviour along with the diagramn..

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