Factiva Factiva provides access to an extensive archive of news articles, broadcasts, industry publications and news sites. Check Factiva for news and publications relating to your industry. Statista Access statistics and reports on consumer markets, countries, industries, companies, brands, and trends worldwide. Consumer Information Guide The Library's Consumer Information Subject Guide carries a huge variety of sources to help identify consumers, consumer preferences, and research into particular demographics.
Broad-ranging coverage also includes Australian humanities and social sciences, current affairs, and law. Carries industry reports and academic research in technology-related fields such as ICT and communications.
Scopus Scopus is a large multidisciplinary database covering published material in the humanities and sciences. Use keyword searches for academic research looking at specific technologies, or particular industries.
AustLII Free access to Australasian legal materials, including legislation, decisions of courts and tribunals, and treaties.
Articles from law journals and law reform commission reports are among its secondary materials. WorldLII Provides free access to primary and some secondary legal materials from overseas jurisdictions. Includes International law databases. Environment Complete via Ebsco Covers all areas of environmental research and technology, environmental law, public policy, social impacts, urban planning, and more.
Coverage starts in the s. Technological factors consider the rate of technological innovation and development that could affect a market or industry. Factors could include changes in digital or mobile technology, automation, research and development. There is often a tendency to focus on developments only in digital technology, but consideration must also be given to new methods of distribution, manufacturing and logistics.
Environmental factors are those that are influenced of the surrounding environment and the impact of ecological aspects. With the rise in importance of CSR Corporate Sustainability Responsibility and sustainability, this element is becoming more central to how organisations need to conduct their business. Factors include climate, recycling procedures, carbon footprint, waste disposal and sustainability.
An organisation must understand what is legal and allowed within the territories they operate in. They also must be aware of any change in legislation and the impact this may have on business operations. Factors include employment legislation, consumer law, healthy and safety, international as well as trade regulation and restrictions. Political factors do cross over with legal factors; however, the key difference is that political factors are led by government policy, whereas legal factors must be complied with.
At first, it is important to get a group of people together from different areas of the business and brainstorm ideas. Next, you will want to consult and seek the opinions of experts from outside your business. These could be your customers, distributors, suppliers or consultants who know your business well. The third stage will involve you researching and gathering evidence for each insight in your Analysis. The final stage involves refining your ideas and repeating the proves until you have a manageable number of points in each of the six categories.
A PESTEL analysis helps an organisation identify the external forces that could impact their market and analyse how they could directly impact their business. The outcomes can then be used to populate the opportunities and threats in a SWOT analysis. If you are interested in how to successfully undertake a PESTEL analysis and how it can be used to undertake a strategic marketing audit, why not develop your marketing knowledge and skills further with the CIM Diploma in Professional Marketing.
Political Factors These determine the extent to which government and government policy may impact on an organisation or a specific industry. Economic Factors An economic factor has a direct impact on the economy and its performance, which in turn directly impacts on the organisation and its profitability.
Social Factors The focus here is on the social environment and identifying emerging trends. Technological Factors Technological factors consider the rate of technological innovation and development that could affect a market or industry.
Environmental Factors Environmental factors are those that are influenced of the surrounding environment and the impact of ecological aspects. The market concentration ratio is measured by the concentration ratio. Description: The market concentration ratio measures the combined market share of all the top firms in the industry.
Cash Cow is one of the four categories under the Boston Consulting Group's growth matrix that represents a division which has a big market share in a low-growth industry or a sector. It is referred to an asset or a business, which once paid off, will continue giving consistent cash flows throughout its life.
Description: A Cash Cow is a metaphor used for a business or a product, which exhibits. A strategic business unit, popularly known as SBU, is a fully-functional unit of a business that has its own vision and direction. Typically, a strategic business unit operates as a separate unit, but it is also an important part of the company. It reports to the headquarters about its operational status. Description: A strategic business unit or SBU operates as an independent entity, but it ha.
Rebranding is the process of changing the corporate image of an organisation. It is a market strategy of giving a new name, symbol, or change in design for an already-established brand. The idea behind rebranding is to create a different identity for a brand, from its competitors, in the market. Description: There are several reasons for a company to go for rebranding.
One prominent factor is t. Choose your reason below and click on the Report button. This will alert our moderators to take action. Nifty 18, Zomato Ltd. Market Watch. ET NOW. Brand Solutions. Video series featuring innovators. Specifically, how their sales have risen or fallen over the last couple of years. And I want to know why.
This section is a bit trickier. Political and economic sectors rely heavily on data and evidence. You can find this information on government websites. News sites too, even. In the social section, I often examine how consumers are impacted by political and economic factors. Such as, if there is political instability, and the economy is on the fritz, then consumers may feel uneasy.
They may have fewer job options. If your topic is a luxury product, it may mean the company that makes it may have lower sales this year. But you also want to learn about how consumers feel about your topic. Or is public opinion souring? There should be a reason for why. Consider Facebook. If not for data breaches affecting millions of users, but for their shady involvement with fake news and political tampering.
This has led many consumers to shy away from using Facebook. And this affects businesses who use Facebook to reach new customers. When I do this right now, the top results are from respectable websites:. Each of these sites is known for being reliable. Although the information may overlap, take keynotes here. See how the problem is affecting consumer opinion. You may even want to take a look at the comments if there are any and see what people are saying.
I think many PEST analysis favor numbers too much. We live in a world where anyone with an opinion can be heard, thanks to the internet. And enough of those voices can cause a business to change their policies and products. It can even cause the company to collapse. This section of the PEST analysis is a bit abstract as well.
You should also look into what technology your topic uses currently. And what technology they may want to incorporate.
You may want to look at competitors if your topic is a product or business. See what others are using. And think about why they are. It may be beneficial to search for press releases involving your topic, if possible. If your company is using new technology, they may have announced it through a press release. You may also find other information here for the other sections of the PEST analysis. Which is just an overall bonus. If anything overlaps with other sections, include that too.
I write each section of a PEST analysis at a time. I take my notes and create coherent sentences.
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