If you're more of a visual learner, you can also find a short animated video on YouTube outlining how to use the PESTELE analysis.Since 2011, Pester has been in charge of Project Verde, the cluster of 631 branches Lloyds is compelled to sell off under conditions set by the EU when it bailed out the lender in 2008. Check out the recording and get a valuable insight into the model in more detail.
Pester marketing company pro#
Marketing pro and CIM tutor Peter Sumpton.
This stands for ethical, and includes ethical principles and moral or ethical problems that can arise in a business. The most recent addition to PESTEL is the extra E - making it PESTELE or STEEPLE. If an organisation trades globally this becomes a very tricky area to get right as each country has its own set of rules and regulations. It is clear that companies need to know what is and what is not legal in order to trade successfully.
Legal factors include - health and safety, equal opportunities, advertising standards, consumer rights and laws, product labelling and product safety. That the products they buy are sourced ethically, and if possible from a sustainable source. These are just some of the issues marketers are facing within this factor. Targets set by governments (this is a good example where one factor could be classed as political and environmental at the same time). They have become important due to the increasing scarcity of raw materials, pollution targets, doing business as an ethical and sustainable company, carbon footprint These factors have only really come to the forefront in the last fifteen years or so. New ways of communicating with target markets.New ways of distributing goods and services.New ways of producing goods and services.Technological factors affect marketing and the management thereof in three distinct ways: We all know how fast the technological landscape changes and how this impacts the way we market our products. Interest as they have a direct effect on how marketers understand customers and what drives them.ĬIM Level 3 CIM Level 4 Technological Factors These factors include – population growth, age distribution, health consciousness, career attitudes and so on. Social FactorsĪlso known as socio-cultural factors, are the areas that involve the shared belief and attitudes of the population. This has a large impact on B2C organisations in particular. Micro-economic factors are all about the way people spend their incomes. Governments use interest rate control, taxation policy and governmentĮxpenditure as their main mechanisms they use for this. Macro-economical factors deal with the management of demand in any given economy. These factors can be further broken down into macro-economical and micro-economical factors. Factors include – economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses and so on. Economic FactorsĮconomic factors have a significant impact on how an organisation does business and also how profitable they are. Organisations need to be able to respond to the current and anticipated future legislation, and adjust their marketing policy accordingly. It is clear from the list above that political factors often have an impact on organisations and how they do business. This can include – government policy, political stability or instability in overseas markets, foreign trade policy, tax policy, labour law, environmental law, trade restrictions These are all about how and to what degree a government intervenes in the economy. Lets look at each of these macro-environmental factors in turn.Īll the external environmental factors (PESTEL factors) Political Factors To identify threats and weaknesses which are used in a SWOT analysis. In this post we will be looking at the PESTEL Analysis in a bit more detail.Ī PESTEL analysis or more recently named PESTELE is a framework or tool used by marketers to analyse and monitor the macro-environmental (external marketing environment) factors that have an impact on an organisation. Welcome to our Marketing Theories series. Visit our Marketing Theories Page to see more of our marketing buzzword busting blogs.
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