There are many factors that can influence the progress of a business, both internal and external elements. However, external environment variables are often overlooked.
This is why today we have decided to better explain the PEST analysis, which is so important and useful for the creation of any strategic marketing plan .
Stay with me and discover what a PEST analysis is, its real japan email list 2 million contact leads importance and learn how to perform it.
What is a PEST analysis?
A PEST analysis, also known as PESTEL, is used to identify the external factors of the business that may influence its development.
By external factors we mean political, economic, social and technological conditions that can affect a company. This is precisely where the name comes from, from the acronyms of these variables.
How about we better understand each of these factors?
Political
The political factors that must be considered are the position of government leaders regarding certain attitudes.
A clear example of this is the taxes that may exist for certain products. Each government can make some changes according to its position on certain products .
In the political aspect we can also include legal factors, which for some products may be more rigid than others, such as medicines, cigarettes and drinks.
As political-legal factors we can also consider subsidies, labor laws, environmental and safety regulations, etc.
Economic
From an economic perspective, we must consider the current economic situation.
Important factors to consider may be the unemployment rate, economic stability or growth, interest rate, inflation, etc.
These and other factors are important for the business we are working in. In addition, we must consider that some may have more influence than others depending on the sector we are working in.
