PEST Analysis We carry out a PEST analysis to examine political‚ economic‚ social and technological factors on our business and we can use our findings to take advantage of opportunities that may arise and also be prepared to face possible threats that may come our way. The use of PEST analysis will help our business to effectively adapt to the realities of the new environment and help us to create a marketing plan that will be effective and which will therefore enable our business to compete
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PEST Analysis A scan of the external macro-environment in which the firm operates can be expressed in terms of the following factors: * Political * Economic * Social * Technological The acronym PEST (or sometimes rearranged as "STEP") is used to describe a framework for the analysis of these macroenvironmental factors. A PEST analysis fits into an overall environmental scan as shown in the following diagram: Environmental Scan | / | \ | External Analysis | Internal
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PEST analysis A PEST analysis is used to identify the external forces affecting an organisation .This is a simple analysis of an organisation’s Political‚ Economical‚ Social and Technological environment. A PEST analysis incorporating legal and environmental factors is called a PESTLE analysis. Political The first element of a PEST analysis is a study of political factors. Political factors influence organisations in many ways. Political factors can create advantages and opportunities for
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FOOD INDUSTRY In recent years the popularity of eating out has grown enormously. As a result there are now thousands of eating places in Ahmedabad offering a wide range of different types of cuisine at prices to suit all pockets. People have become much more adventurous and cuisine from many different countries is widely available. A trend towards healthy eating has led many restaurants to add healthy options‚ such as low fat and low salt dishes‚ to their menus. The industry is very competitive
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Running Head: COMPETITIVE ANALYSIS Competitive Analysis of an Industry [Name of the Writer] [Name of the Institution] Competitive Analysis of an Industry Importance of understanding Business Strategy In the business world‚ it is essential to always plan for every action so that the company’s operation is not impaired. This procedure involves making a series of decisions and setting goals for monitoring‚ implementation and verification of the results; and we may call this whole
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Indian Auto Industry Current Scenario & Future Trends Index Evolution of Indian Auto Industry Market Segmentation PEST Analysis Porter’s 5 forces Analysis Obstacles‚ advantages and opportunities Analysis of Current trends Impact of Union Budget Impact of Tata Nano Impact of Tata Ace Future Trends in auto market Evolution of Automobile Industry Initial Years Manufacturing was licensed •High Customs duty on import •Steep excise duties & •sales tax •2 Major players: Premier Automobiles
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ID Number: 3765990 MGTS 4481: Section 002 Industry Analysis Introduction According to Market Research‚ the packaged food industry “consists of all types of foods and/or beverages found in mass‚ gourmet‚ and specialty markets internationally. These products range from raw ingredients like spices‚ to convenience products like ready-made meals. Packaged foods can be shelf-stable‚ refrigerated/frozen‚ and can be packaged in bags‚ bowls‚ bottles‚ boxes‚ brick packs‚ cans‚ cartons‚ crates‚ jugs‚ packets
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Introduction The Indian television industry Television in India has been around for just over four decades. For the first 17 years‚ transmission was restricted to black and white‚ and sale figures for television sets were minimal. The liberalization of the Indian economy‚ however‚ brought with it many changes‚ including the entry of a number of global players‚ both in manufacturing and broadcasting. In a span of just over ten years‚ the broadcasting industry grew from a single public service
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EXPLAIN THE PURPOSE AND BENEFITS OF PEST ANALYSIS. PEST analysis is used to evaluate the political‚ economic‚ social and technological influences that organizations might face when they are about to start a project. It provides external factors that organizations should take into consideration before they start the projects. In this case study‚ the UNISION used PEST analysis to investigate the external environment surrounding migrant workers; it helps UNISON to identify and understand the reasons
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applied to this industry McDONALD’S 1. Threat of substitute products Low-Moderate – Availability of the MCD products – Choose MCD for Easting and Entertainment – Narrows Threat of Substitutes due to introduction of local taste products. 2. Threat of new entrants HIGH – Regulation of Limit – Easy Access Market and Low start up cost – Example of SubWay’s market penetration 3. Intense rivalry among existing players HIGH – Very competitive Fast Food industry – Competitors
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