Marketing Assignment help on : Competitive strategy

Pestle analysis

Political factors: This factor refers to the government policy that deals with the intervention of the economy. It impacts the areas of businesses such as workforce education, the quality and the infrastructure of the economy, other system etc. Political policies such as education, business, science & environment and employment create the impact on the design & delivery of the research activities. The initiatives by the government deal with the employability and there exist issues such as health and education. It also impacts the infrastructure of the economy with respect to the road as well as rail system. (Oup.com, 2011)

Economic factors: The stability of the economy meets with the trends and other preferences such as the behavior of the consumer and other tax related issues. The rate of interest and exchange rate also impacts the society and its preferences as well as behavior. The effects of current global recession affect the important part of institutions and the economic factors are the major influence for the bigger institutions. Thus the recession either positively or negatively affects the relationships that lead to increased unemployment. For example: Inflation decreases the high level of demand and increases the cost. (Strath.ac.uk, 2010)

Social factors: The changes in terms of the demand of the products and the willingness of the individual affect the social factors. The demographics and the expectations are the major impacts in the approaches of the learning and teaching of an individual. Thus the increased trend towards the use of social networks for business and other activities affects the practices of employees and other experiences. In case of medicines and accommodation, the demand has increased day by day. (Fogel, 2010)

Technological factors: There exist new technologies that develops the products as well processes with respect to the MP3 players, computer games, and other high definition of products with the technological advances. Thus it deals with the improvements to meet with the better technology. It also decreases the cost and improves the quality and deals with strong innovation.

Legal factors: It consists of the legal environment for better operations. The introduction of age discrimination and other legal changes affects the behavior of the industry. It also creates an increase in the minimum wage rates and also it develops the high level of requirements for important goals and actions. For example: The legal changes directly affect the cost of the industry and demand through which the customers purchases the goods or services. Consumer laws are developed for the protection of customers against unfair practices.

Environmental factors: This factor includes the changes with respect to the climate and the weather. It occurs with the global warming and other environmental issues. Thus the demand is affected and the power of spending as well as consumption also decreases. Through this way, the external factor creates issues with the industry and also it requires more taxes to be paid for the success of the hybrid cars and also for the air travel industries. This way, it affects the business and other opportunities. (Balaban, 2003)

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