What is a PEST?<br />(from www.marketingteacher.com)<br />
What is a PEST Analysis?<br />It is very important that an organization considers its environment before beginning the mar...
1. The internal environment e.g. staff (or internal customers), office technology, wages and finance, etc.<br />2. The mic...
What does PEST stand for?<br />
Political. What is a synonym for politics?<br />Government. Why is politics important for the business environment of a co...
1.How stable is the political environment? <br />2.Will government policy influence laws that regulate or tax your busines...
Economic Factors<br />What are some Economic factors that you should consider in a PEST analysis?<br />Two are given as ex...
What does the “S” stand for?<br />Social and cultural factors<br />The social and cultural influences on business vary fro...
Technological factors<br />Technology is vital for competitive advantage, and is a major driver of globalization. <br />On...
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What is a pest

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What is a pest

  1. 1. What is a PEST?<br />(from www.marketingteacher.com)<br />
  2. 2. What is a PEST Analysis?<br />It is very important that an organization considers its environment before beginning the marketing process. In fact, environmental analysis should be on-going and feed all aspects of planning.<br />What does Environment mean? <br />Students Look in dictionary. There are 5 definitions given on www.dictionary.com<br />Which definition is best for Business (PEST)?<br />3. the social and cultural forces that shape the life of a person or a population. <br />
  3. 3. 1. The internal environment e.g. staff (or internal customers), office technology, wages and finance, etc.<br />2. The micro-environment e.g. our external customers, agents and distributors, suppliers, our competitors, etc.<br />3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors.<br />The organization's marketing environment is made up of:<br />
  4. 4. What does PEST stand for?<br />
  5. 5. Political. What is a synonym for politics?<br />Government. Why is politics important for the business environment of a country?<br />The Government makes laws which regulate businesses, and this in turn influences the spending power of consumers and other businesses. <br />What does the “P” stand for?<br />
  6. 6. 1.How stable is the political environment? <br />2.Will government policy influence laws that regulate or tax your business?<br />3.What is the government's position on marketing ethics? <br />4. What is the government's policy on the economy? <br />5. Does the government have a view on culture and religion? <br />6. Is the government involved in Free trade agreements such as EU, NAFTA, ASEAN, or others?<br />What are some aspects of Politics that you should consider in a PEST Analysis of a country? Two are given as examples. Think of three more aspects with your partner.<br />
  7. 7. Economic Factors<br />What are some Economic factors that you should consider in a PEST analysis?<br />Two are given as examples. With a partner think of three more factors.<br />Spending power of the local consumers.<br />Long term prospects for the economy.<br />The price of oil.<br />Interest rates.<br />Unemployment rates.<br />GDP % growth rates.<br />Inflation/Deflation rates.<br />What does the “E” stand for?<br />
  8. 8. What does the “S” stand for?<br />Social and cultural factors<br />The social and cultural influences on business vary from country to country. It is very important that such factors are considered.<br />What are some Social and cultural Factors that we need to consider in a PEST analysis? <br />Again the first two are given as examples. With your partner think of three more social factors.<br />1.What is the dominant religion? <br />2.What are attitudes to foreign products and services? <br />3.How does language impact product marketing? <br />4.How much time do consumers have for leisure? <br />5.What are the roles of men and women within society? <br />6.Do the population have a strong/weak opinion on green issues? <br />
  9. 9. Technological factors<br />Technology is vital for competitive advantage, and is a major driver of globalization. <br />One factor is given as an example. With your partner try to think of two more factors. <br />1. Does technology allow for products and services to be made more cheaply and to a better standard of quality? <br />2.Do the technologies offer consumers and businesses more innovative products and services such as Internet banking, new generation mobile telephones, etc?<br />3.How is distribution changed by new technologies e.g. books via the Internet, flight tickets, auctions, etc? <br />4.Does technology offer companies a new way to communicate with consumers e.g. banners, Customer Relationship Management (CRM), etc? <br />What does the “T” stand for?<br />

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