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MKT 304: STARTEGIC MARKETING
STRATEGIC
EXTERNAL
ANALYSIS
Khyati Shetty Datta [MU Dubai]
PESTEL ANALYSIS (with relevant examples)
Political Factors
These are all about how and to what degree a government intervenes in the economy. This can include
– government policy, political stability or instability in overseas markets, foreign trade policy, tax policy, labour law, environmental law, trade restrictions and so on.
Political factors often have an impact on organizations and how they do business. Organizations need to be able to respond to the current and anticipated future legislation, and adjust their marketing policy accordingly.eg: Nano Project
Economic Factors
Economic factors have a significant impact on how an does business and also how profitable they are.
Factors include – economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses and so on.
These factors can further be broken down into macro-economic and micro-economic factors. Macroeconomic factors deal with the management of demand in any given economy. Governments use interest rate control, taxation policy and government expenditure as their main mechanisms they use for this.
Micro-economic factors are all about the way people spend their incomes. This has a large impact on
B2C organizations in particular.
Eg: Mc Donalds, American Express.
Social Factors
Also known as socio-cultural factors are the areas that involve the shared belief and attitudes of the population. These factors include – population growth, age distribution, health consciousness, career attitudes and so on. These factors are of particular interest as they have a direct effect on how marketers understand customers and what drives them.
Eg: Mc Donald Products, Maybelline
Technological Factors
We all know how fast the technological landscape changes and how this impacts the way we market our products. Technological factors affect marketing and the
STRATEGIC
EXTERNAL
ANALYSIS
Khyati Shetty Datta [MU Dubai]
PESTEL ANALYSIS (with relevant examples)
Political Factors
These are all about how and to what degree a government intervenes in the economy. This can include
– government policy, political stability or instability in overseas markets, foreign trade policy, tax policy, labour law, environmental law, trade restrictions and so on.
Political factors often have an impact on organizations and how they do business. Organizations need to be able to respond to the current and anticipated future legislation, and adjust their marketing policy accordingly.eg: Nano Project
Economic Factors
Economic factors have a significant impact on how an does business and also how profitable they are.
Factors include – economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses and so on.
These factors can further be broken down into macro-economic and micro-economic factors. Macroeconomic factors deal with the management of demand in any given economy. Governments use interest rate control, taxation policy and government expenditure as their main mechanisms they use for this.
Micro-economic factors are all about the way people spend their incomes. This has a large impact on
B2C organizations in particular.
Eg: Mc Donalds, American Express.
Social Factors
Also known as socio-cultural factors are the areas that involve the shared belief and attitudes of the population. These factors include – population growth, age distribution, health consciousness, career attitudes and so on. These factors are of particular interest as they have a direct effect on how marketers understand customers and what drives them.
Eg: Mc Donald Products, Maybelline
Technological Factors
We all know how fast the technological landscape changes and how this impacts the way we market our products. Technological factors affect marketing and the