Marketing Management: "PEST" Analysis And Five Forces Analysis
- Topics:
- Strategic Analysis
- Tags:
- Analysis,
- ClusterStar,
- Environment,
- Marketing,
- PEST
- Source:
- ClusterStar
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Overview: Political, Economic, Social, and Technological (PEST) analysis is concerned with the environmental influences on a business. The acronym stands for the Political, Economic, Social, and Technological issues that could affect the strategic development of a business. According to the Internet Centre for Management and Business Administration, Anon (2003), identifying PEST influences is a useful way of summarizing the external environment in which a business operates. The Five Forces analysis of a business helps the marketer to contrast a competitive environment. Five Forces analysis looks at five key areas; the threat of entry; the power of buyers; the power of suppliers; the threat of substitutes; and competitive rivalry. Five Forces analysis focuses on the micro environment of a business.
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Format: PDF | Size: 140KB | Date: Jul 2009 | Pages: 7
