![]() Legal factors include health and safety equal opportunities advertising standards consumer rights and laws product labeling and product safety. Macro Environment Example 1: United States Macro Environment Example 2: China The Scale of the Macro Environment Final Thoughts 9 Crucial Macro Environmental Factors to Include in Your Analysis The macro environment refers to the broader business environment as a whole. A PESTEL analysis or PESTLE analysis (formerly known as PEST analysis) is a framework or tool used to analyse and monitor the macro-environmental factors that may have a profound impact on an organisation’s performance. PESTEL analysis is used for strategic planning, which allows managers to take into consideration macro-economic variables in the conceptualizing of the strategy regarding the business development. ![]() Technological factors affect marketing in (1) new ways of producing goods and services (2) new ways of distributing goods and services (3) new ways of communicating with target markets.Įnvironmentalfactors are important due to the increasing scarcity of raw materials pollution targets doing business as an ethical and sustainable company carbon footprint targets. Scanning the Environment: PESTEL Analysis. Socialfactors include demographics (age, gender, race, family size) consumer attitudes, opinions, and buying patterns population growth rate and employment patterns socio-cultural changes ethnic and religious trends living standards. The Economic powers identify with factors that influence customer buying power and spending designs. Politicalfactors include government policies, leadership, and change foreign trade policies internal political issues and trends tax policy regulation and de-regulation trends.Įconomicfactors include current and projected economic growth inflation and interest rates job growth and unemployment labor costs impact of globalization disposable income of consumers and businesses likely changes in the economic environment. A PESTEL analysis is used to identify threats and weaknesses which are used in a SWOT analysis. It examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. A PESTEL analysis is a framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organization, company, or industry.
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