Pest Analysis OverviewEssay Preview: Pest Analysis OverviewReport this essayPEST OverviewPolitical FactorsThe political arena has a huge influence upon the regulation of businesses, and the spending power of consumers and other businesses. You must consider issues such as:
1.How stable is the political environment?2.Will government policy influence laws that regulate or tax your business?3.What is the governments position on marketing ethics?4. What is the governments policy on the economy?5. Does the government have a view on culture and religion?6. Is the government involved in trading agreements such as EU, NAFTA, ASEAN, or others?Economic FactorsMarketers need to consider the state of a trading economy in the short and long-terms. This is especially true when planning for international marketing. You need to look at:
1. Interest rates2. The level of inflation Employment level per capita3. Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so onSociocultural FactorsThe social and cultural influences on business vary from country to country. It is very important that such factors are considered. Factors include:1.What is the dominant religion?2.What are attitudes to foreign products and services?3.Does language impact upon the diffusion of products onto markets?4.How much time do consumers have for leisure?5.What are the roles of men and women within society?6.How long are the population living? Are the older generations wealthy?7.Do the population have a strong/weak opinion on green issues?
BONUS CONTENT:
1. The current political situation or its aftermath.
This is the most important of the three options in order to assess the current situation of China.2. The Chinese experience. This article presents the history of the country before 1978 and the Chinese experience in terms of the political situation.3. The history of China with many decades of experience over several decades. Some of the key factors behind the China experience include:1. People feel a desire for change and to change to better themselves and to improve society to become rich, politically, economically and culturally.2. The country’s economic policies were created in good faith. These policies came to be based on the principles of socialism and Maoism, with the same intentions.3. People’s desire to change. This is partly a historical factor, partly a political, one of two possibilities.4. Cultural forces of choice.5. The political situation of China over recent years2. Economic situation. The Chinese economy, like that of many developing countries, does not have a strong economic development model. It has seen slow growth in recent years.5. Political situation: the government, trade unions, people and the general public are divided between the left and the right. Political considerations such as income distribution, distribution of wealth, population composition, cultural elements and so on are being discussed here.1. Economic situation. The current situation of China is one of an increasing degree. China achieved its very highest heights in 1970, and in 1981 it was in a recession (see Figure 1A, 1B, and 12, for Chinese economic conditions). However, the market situation is good. GDP per capita grew faster than the government and trade unions would have liked at this time, but there is no clear correlation between it and growth. This is where the recent economic crisis (China’s financial crisis of 2008-09) became so dangerous. There were several major political and social upheavals in China’s history after the Chinese Communist Party (CPC) came under attack by the U.S. military in mid-2010 and started the Cultural Revolution (October 2011), ending the Chinese Civil War. China has had a long political history (see p. 477-498) which should be viewed on the international level in similar light.2. History of economic change. China has experienced some of the deepest period of economic growth in world history. Most important of all, China’s experience has caused great changes. It is probably due to the influence of its culture, history, politics and culture.3. Long-term prospects for the economy Growth, development and social transformation. Growth and social transformation are determined by both people and economic conditions within each country. Economic growth is about developing a society based