A PEST analysis can be an effective framework to use in Corporate Strategy. PEST is an acronym for Political, Economic, Social, and Technological. In very basic terms, a PEST analysis can help you determine how these factors will affect the performance and activities of your business in the long term. It can be used either to analyze the current company situation in a given market or to explore the situation at a new market the organization is considering expanding to. Please watch the following video discussing a PEST analysis in detail: Once you are done watching the video select any product you regularly use in your daily life and provide a description of the following: Selected product Features Intended target market Select either one of the areas Political, Economic, Social, Technological and conduct and analysis considering the United States as its reference market Select the most important factors that can impact the sales of the product Explain the reasoning behind your decision. When you reply to a colleague, compare your findings with his or hers. What patterns or differences do you see that could be used to develop international marketing strategies?
A PEST analysis can be an effective framework to use in Corporate Strategy. PEST is an acronym for Political, Economic, Social, and Technological. In very basic terms, a PEST analysis can help you determine how these factors will affect the performance and activities of your business in the long term. It can be used either to analyze the current company situation in a given market or to explore the situation at a new market the organization is considering expanding to. Please watch the following video discussing a PEST analysis in detail:
Once you are done watching the video select any product you regularly use in your daily life and provide a description of the following:
- Selected product
- Features
- Intended target market
Select either one of the areas Political, Economic, Social, Technological and conduct and analysis considering the United States as its reference market
- Select the most important factors that can impact the sales of the product
- Explain the reasoning behind your decision.
When you reply to a colleague, compare your findings with his or hers. What patterns or differences do you see that could be used to develop international marketing strategies?
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