Pest Analysis Essay

704 Words Aug 29th, 2010 3 Pages
A LEVEL OF ACHIEVEMENT BUSINESS STUDIES A LEVEL RESOURCES.

Issue 3 Sept 2004

Page 1

PEST Analysis
A PEST analysis examines the Political, Economic, Social and Technological environments that affect industries and companies. (PEST analysis is also known STEP analysis). It is now recognised by marketing professionals that in the longer term survival and success of a business is dependant upon the external environment a business operates within. It is not enough to say we have the right marketing mix, or the best product portfolio without being aware of the external environment. And to make things a little more complicated the external environment i.e. the PEST factors, is not stable but forever changing. ness, however large. Firms
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to the consumer. It is worth noting that PEST factors must not normally Social— We have recently been seeing how increase be considered as either threats or opportunities, so PEST analysis is not to be confused with SWOT in health consciousness has forced McDonalds to analysis. change it’s menus. Technological— The massive falls in

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