Using a PESTLE Analysis (500 Words)
No product or brand exists in a vacuum. An organisation must have a full understanding of not only its internal environment, but also of the external environment surrounding its products and brands. For the purposes of this unit, the external environment will be divided into the distant and near environments (also known as macro- and microenvironment or distal and proximal). The distant and near environments are associated with two analysis models respectively: the PESTL (political, economic, social, technological and legal) or one of its many variations and the Porter's 5 Forces model. It is essential to analyse both the distant and near environments in order to make informed decisions about the market for products and brands. An external analysis may also be used for control and evaluation purposes throughout a product's life cycle.
In the field of marketing, the distant environment is perceived as being composed of broad forces. These forces are often grouped together for analysis under some variation of PESTL. Some models also include an additional E for environmental which, in this case, refers to environmental issues such as pollution or 'green' strategies rather than an organisation's internal and external environments. Growing environmental concerns across the globe are such that it is highly recommended that this factor is included. In addition to providing context for a marketing campaign, considering environmental factors may provide a competitive advantage by appealing to customers' growing desire to associate themselves with environmentally-aware organisations and products. Other versions with similar areas of analysis include SLEPT, STEEPLE, EPISTEL and so forth. Each of the PESTLE forces is briefly described in this unit's Unit Introduction, accompanied by some questions that organisations should attempt to answer through analysis. These forces are also addressed in more depth in the Readings.
For this Shared Activity, you will conduct a PESTLE analysis on your featured organisation and brand, which will become the focus of your Final Project.
Imagine that the organisation you chose is in the decision phase of determining where to market new products and has selected one international market to research.
To prepare
- Review Evans and Richardson (2007). Consider how the featured business used a PESTLE tool to analyse its environment.
- Review Chapter 3 from the module text. Consider the environmental responses listed such as ignorance, delay and retrenchment for your discussion on amelioration strategies for environmental issues.
- Research similar PESTLE tools in the Readings and online. Select a template you think is a good fit with your Final Project organisation and proposed fictional product or create a PESTLE tool of your own.
Please write 100 words
Will the class please identify what are the global values that go into making of a global brand and how a brand can espouse such values?
Please write 100 words
How specifically does economic of scale serves as a value for global branding? since higher volume doesn't necessarily translate into value for global acceptance of a brand, even though it may lead to cost reduction and affordable pricing and increase purchasing power for the consumer- Cost Leadership strategy(Jobber et al, 2013).