Explain How Firms Can Use Pestel Analysis As Part Of A Business Strategy
Learning Outcome 1
The learner will: Understand the objectives of a business, what resources they need and to whom they are accountable. …show more content…
3.1.2 Describe other non-economic influences on business activity: environmental, cultural, moral and ethical.
3.2 Explain how firms can use PESTEL analysis as part of a business strategy.
3.2.1 Explain how firms can use PESTEL (political, economic, social, technological, environmental, legislative influences) analysis as part of a business strategy.
Learning Outcome 4
The learner will: Understand the factors that influence the scale of production, the location of production and the choice between different types of production process.
Assessment Criteria The learner can: 4.1 Explain economies and diseconomies of scale.
4.1.1 Explain, and give examples of, economies and diseconomies of scale.
4.2 Describe the factors that influence the location of a business.
4.2.1 Describe the factors that influence the location of a business: availability of land, labour, closeness to market, transport routes, government grants, planning permission and environmental …show more content…
Assessment Criteria The learner can: 5.1 Explain the importance of the marketing process and define key marketing terms, including market segmentation, Product Life Cycle, marketing mix, niche market, mass market, Unique Selling Point.
5.1.1 Define and explain the importance of the marketing process. 5.1.2 Explain how a market for a product can be segmented e.g. clothes, vehicles, holidays etc. 5.1.3 Illustrate with a diagram and describe the Product Life Cycle. 5.1.4 Discuss the role of the marketing mix (4 Ps) as part of a marketing plan. 5.1.5 Describe and explain how the marketing mix might change at different points of the product life cycle. 5.1.6 Define other principal marketing terms: niche market, mass market, USP (Unique Selling Point).
5.2 Explain marketing strategy in terms of company objectives, available resources and market possibilities.
5.2.1 Explain marketing strategy in terms of company objectives, available resources and market possibilities.
5.3 Describe alternative methods of market