What is PEST analysis?
Posted: Wed Jan 29, 2025 5:40 am
PEST analysis is a marketing framework formed from the initials of four words: Politics, Economy, Society, and Technology.
The factors that influence the growth or decline of a business can be divided into controllable internal and uncontrollable external factors.
Among these, the PEST analysis is a suitable framework for analyzing the external environment.
Politics
It changes the fundamental rules of the risk managers email database market, including laws, tax systems, and political factors.
A recent example is the increase in the consumption tax to 10 percent, which caused a rush of demand and promoted the introduction of cashless payments.
Economy
Things that affect the value chain include the domestic economy, prices, and exchange rate trends.
Companies that manufacture and sell products for export are adjusting their production volumes or establishing bases overseas to avoid the major impact of exchange rate fluctuations on their sales.
Society
These influence the structure of demand, including population structure, trends, and lifestyles.
In recent years, as Japan's population has been aging, an increasing number of companies are focusing on services and products for the elderly.
Technology
Technological innovation and infrastructure development affect the way market competition takes place and the methods of promotion.
Especially in recent years, the speed of technological innovation has been dizzying, greatly affecting companies' marketing methods and business strategies.
*Free individual web marketing consultations available to the first 5 people each month*
Inglow Inc. holds free individual consultation sessions for business people with challenges in web marketing, where they can talk to web marketing professionals.
Because we receive many enquiries every day, we have set a limit on the number of people we can accommodate in order to maintain the quality of our service for each individual customer.
â–¼Click here to make a reservation for the ``Web Marketing Consultation Session''!
The factors that influence the growth or decline of a business can be divided into controllable internal and uncontrollable external factors.
Among these, the PEST analysis is a suitable framework for analyzing the external environment.
Politics
It changes the fundamental rules of the risk managers email database market, including laws, tax systems, and political factors.
A recent example is the increase in the consumption tax to 10 percent, which caused a rush of demand and promoted the introduction of cashless payments.
Economy
Things that affect the value chain include the domestic economy, prices, and exchange rate trends.
Companies that manufacture and sell products for export are adjusting their production volumes or establishing bases overseas to avoid the major impact of exchange rate fluctuations on their sales.
Society
These influence the structure of demand, including population structure, trends, and lifestyles.
In recent years, as Japan's population has been aging, an increasing number of companies are focusing on services and products for the elderly.
Technology
Technological innovation and infrastructure development affect the way market competition takes place and the methods of promotion.
Especially in recent years, the speed of technological innovation has been dizzying, greatly affecting companies' marketing methods and business strategies.
*Free individual web marketing consultations available to the first 5 people each month*
Inglow Inc. holds free individual consultation sessions for business people with challenges in web marketing, where they can talk to web marketing professionals.
Because we receive many enquiries every day, we have set a limit on the number of people we can accommodate in order to maintain the quality of our service for each individual customer.
â–¼Click here to make a reservation for the ``Web Marketing Consultation Session''!