preview

Marketing Pestle Factor Essay

Better Essays

HNC Business
Principles of Marketing

Pest Factors Essay

Table of Contents

Title Page Number
Introduction - 2 -
The Marketing Mix - 3 -
Product - 4 -
Price - 5 -
Promotion - 5 -
Place - 6 -
Over View on the 4 P’s - 6 -
Pest Factor Analysis - 6 -
Political Factors - 8 -
Economic Factors - 9 -
Social Factors - 10 -
Technological Factors - 11 -
Conclusion - 12 -
Appendices - 14 -
Bibliography - 15 -
References - 16 -

Introduction

This article has been produced to outline the analysis’ and strategies used within marketing, which should be adopted within the organisation in order for it to have a successful Marketing strategy.

Throughout this article I am going to look at:

1. The internal …show more content…

External factors can sometimes present them selves as a threat, therefore the term ‘PEST’ would be an appropriate name in this case.
Researching and understanding the organisations external environment can give you a competitive advantage and also minimises risks. This way the organisation can be aware of market growth, or decline and can also look at the future potential and direction it success at a lower risk.
The PEST Factors Analysis is frequently worked within a strategic SWOT analysis.
The SWOT analysis is used to look at the organisations: Strengths, Weaknesses, Opportunities and Threats. See Diagram below:

Using the PEST Analysis looking at the four factors: Political, Economy, Social and Technological using the Retail Sector as an example, these are the main, topically elements that make up each of the factors:

Political Factors

Political Factors are things which include:

1. Government Legislation
The are many Legislations, Laws and Acts that all organisations must adhere to. Looking at the Retail Sector, there are trading agreements, which determines trading hours, for example trading hours on Sunday is only 6 hours, however in recent years laws have changed to allow big super stores such as Asda to be able to open 24 Hour, except of course on Sundays. There is legislation which looks after employee’s welfare for example working hours and breaks.
As most retail

Get Access