Porter’s 5 Forces and PESTEL in market analysis

Porter’s 5 Forces and PESTEL are two frameworks commonly used in market analysis. Porter’s 5 Forces is a framework that evaluates the competitive environment of a market, including the bargaining power of suppliers, the bargaining power of buyers, the threat of new entrants, the threat of substitutes, and the level of rivalry among existing competitors. PESTEL, on the other hand, is a framework that evaluates the political, economic, social, technological, environmental, and legal factors that may impact a market. Both Porter’s 5 Forces and PESTEL provide valuable insights into the market and help businesses to make informed decisions about product development, pricing, promotion, and distribution.