PESTEL and PEST analysis PowerPoint and Keynote pack

PEST analysis (sometimes referred to as STEP) is a widely-used useful marketing tool that is designed to find out the political, economic, social and technological aspects of the external environment that affect the company’s business. The policy is studied because it regulates the power that in its turn determines the company’s environment and obtaining key resources for its activities. The main reason for economy studying is the creation of a picture of resources distribution at the state level, which is the most important condition for the operation of the enterprise. Using the social component of PEST analysis, the consumer preferences are determined. The last factor is the technological component. The purpose of its research is considered to be the identification of trends in technological development, which often cause the changes and losses of the market, as well as the emergence of new products. The analysis is carried out according to the “factor-enterprise” scheme. The results of the analysis are formulated in the form of a matrix. The results of the PEST analysis allow us to assess the external economic situation in the sphere of production and commercial activity. PESTLE analysis is an expanded version of the PEST analysis. Two factors (Legal and Environmental) are added. Sometimes other formats are used, for example, SLEPT analysis (plus Legal factor) or STEEPLE analysis: Socio-demographic, technological, economic, environmental (natural), political, legal and ethnic factors. Also, the geographical factor can be taken into account.