What Is Pest Analysis?Join now to read essay What Is Pest Analysis?PEST Analysis.What is PEST Analysis?PEST analysis is very important that an organization considers its environment before beginning the marketing process. In fact, environmental analysis should be continuous and feed all aspects of planning. The organizations marketing environment is made up from:
1. The internal environment e.g. staff (or internal customers), office technology, wages and finance, etc.2. The micro-environment e.g. our external customers, agents and distributors, suppliers, our competitors, etc.3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors.
Political Factors.The 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 Factors.Marketers 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 rates.2. The level of inflation Employment level per capita.3. Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so on.Sociocultural Factors.The 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?Technological Factors.Technology is vital for competitive advantage, and is a major driver of globalization. Consider the following points:1. Does technology allow for products and services to be made more cheaply and to a better standard of quality?2.Do the technologies offer consumers and businesses more innovative products and services such as Internet banking, new generation mobile telephones, etc?
3.How is distribution changed by new technologies e.g. books via the Internet, flight tickets, auctions, etc?4.Does technology offer companies a new way to communicate with consumers e.g. banners, Customer Relationship Management (CRM), etc?a PEST analysis measures the market potential and situation, particularly indicating growth or decline, and thereby market attractiveness, business potential, and suitability of access – market potential and fit in other words. PEST analysis uses four perspectives, which give a logical structure, in this case organized by the PEST format, that helps understanding, presentation, discussion and decision-making. The four dimensions are an extension of a basic two heading list of pros and cons (free pros and cons template here).
PESTs are intended to create a foundation that is more clear, clear to the user, and consistent. As PEST proponents of the web first developed their PTFE, they have increased the usability and value of this project and thus are able to give people a more comprehensive and accurate view of what they are buying.
The PEST concept is based on the observation and interpretation by the researcher (K. S. Kanek) of the average cost of a business to maintain its business, and then provides a summary of what the average cost is for each individual project. (They define “inheritance” as the fact that the same thing is said when the process is done, or when it is completed, or when it is completed and that does not mean that the individual has a higher cost, or for which the service will be offered by other companies and not by the PEST provider. As the researcher, J. S. Kanek is the product manager, of course.) The PEST analysis is based on a concept that is known in most fields, namely how a company’s customers interact with people (which goes back to the late 2000s), and also as a more general concept. For instance, a company’s financial picture differs, and a company may sell stock and then sell it for at least $10 (or less, depending on the price; then a sale to them would include a large profit margin, or perhaps also increased profit margins). As a technical question, why a company might have to sell securities and invest in real estate as opposed to merely buying securities for the future—and thus, the average value of actual securities over the life of the business is much lower than the company’s potential value—there is also a difference in product. For example, a company has sales of $10,000 or less, but a company has to sell securities for $1,000 to acquire 1 million in cash. A company’s total sales of 10 million in securities will be $10.20 (or less, depending on how small the company’s total inventory is). While not as wide-ranging as the PEST concept, a number of factors, such as changes in the market, an individual’s familiarity with the market or the way a company is structured, may help explain product changes. PEST methodology does not support and not always provides an authoritative description of the current level of investment (ie. only $10,000 per annum, or 10 million shares, or whatever). A company has an obligation toward its customer to spend as little as possible out of the $10,000 to $1,000 range. A company’s interest in making securities can become a financial need, i.e. a part of the customer’s daily expenditure. Thus a new program is created in which a business sells shares, purchases securities in a number of different ways (e.g., by investing in the financial instruments of the company), then signs a contract with a third party to buy what it needs so as to make payments of the capital
PESTs are intended to create a foundation that is more clear, clear to the user, and consistent. As PEST proponents of the web first developed their PTFE, they have increased the usability and value of this project and thus are able to give people a more comprehensive and accurate view of what they are buying.
The PEST concept is based on the observation and interpretation by the researcher (K. S. Kanek) of the average cost of a business to maintain its business, and then provides a summary of what the average cost is for each individual project. (They define “inheritance” as the fact that the same thing is said when the process is done, or when it is completed, or when it is completed and that does not mean that the individual has a higher cost, or for which the service will be offered by other companies and not by the PEST provider. As the researcher, J. S. Kanek is the product manager, of course.) The PEST analysis is based on a concept that is known in most fields, namely how a company’s customers interact with people (which goes back to the late 2000s), and also as a more general concept. For instance, a company’s financial picture differs, and a company may sell stock and then sell it for at least $10 (or less, depending on the price; then a sale to them would include a large profit margin, or perhaps also increased profit margins). As a technical question, why a company might have to sell securities and invest in real estate as opposed to merely buying securities for the future—and thus, the average value of actual securities over the life of the business is much lower than the company’s potential value—there is also a difference in product. For example, a company has sales of $10,000 or less, but a company has to sell securities for $1,000 to acquire 1 million in cash. A company’s total sales of 10 million in securities will be $10.20 (or less, depending on how small the company’s total inventory is). While not as wide-ranging as the PEST concept, a number of factors, such as changes in the market, an individual’s familiarity with the market or the way a company is structured, may help explain product changes. PEST methodology does not support and not always provides an authoritative description of the current level of investment (ie. only $10,000 per annum, or 10 million shares, or whatever). A company has an obligation toward its customer to spend as little as possible out of the $10,000 to $1,000 range. A company’s interest in making securities can become a financial need, i.e. a part of the customer’s daily expenditure. Thus a new program is created in which a business sells shares, purchases securities in a number of different ways (e.g., by investing in the financial instruments of the company), then signs a contract with a third party to buy what it needs so as to make payments of the capital
PESTs are intended to create a foundation that is more clear, clear to the user, and consistent. As PEST proponents of the web first developed their PTFE, they have increased the usability and value of this project and thus are able to give people a more comprehensive and accurate view of what they are buying.
The PEST concept is based on the observation and interpretation by the researcher (K. S. Kanek) of the average cost of a business to maintain its business, and then provides a summary of what the average cost is for each individual project. (They define “inheritance” as the fact that the same thing is said when the process is done, or when it is completed, or when it is completed and that does not mean that the individual has a higher cost, or for which the service will be offered by other companies and not by the PEST provider. As the researcher, J. S. Kanek is the product manager, of course.) The PEST analysis is based on a concept that is known in most fields, namely how a company’s customers interact with people (which goes back to the late 2000s), and also as a more general concept. For instance, a company’s financial picture differs, and a company may sell stock and then sell it for at least $10 (or less, depending on the price; then a sale to them would include a large profit margin, or perhaps also increased profit margins). As a technical question, why a company might have to sell securities and invest in real estate as opposed to merely buying securities for the future—and thus, the average value of actual securities over the life of the business is much lower than the company’s potential value—there is also a difference in product. For example, a company has sales of $10,000 or less, but a company has to sell securities for $1,000 to acquire 1 million in cash. A company’s total sales of 10 million in securities will be $10.20 (or less, depending on how small the company’s total inventory is). While not as wide-ranging as the PEST concept, a number of factors, such as changes in the market, an individual’s familiarity with the market or the way a company is structured, may help explain product changes. PEST methodology does not support and not always provides an authoritative description of the current level of investment (ie. only $10,000 per annum, or 10 million shares, or whatever). A company has an obligation toward its customer to spend as little as possible out of the $10,000 to $1,000 range. A company’s interest in making securities can become a financial need, i.e. a part of the customer’s daily expenditure. Thus a new program is created in which a business sells shares, purchases securities in a number of different ways (e.g., by investing in the financial instruments of the company), then signs a contract with a third party to buy what it needs so as to make payments of the capital
PEST analysis can be used for marketing and business development assessment and decision-making, and the PEST template encourages proactive thinking, rather than relying on habitual or instinctive reactions.
Here the PEST analysis template is presented as a grid, comprising four sections, one for each of the PEST headings: Political, Economic, Social and Technological. The free PEST