Your Product or Service
Conducting Marketplace Research
PEST Analysis Examples
|Political||Diesel vehicles -
The government’s announcement that the sale of new diesel vehicles will be banned by 2030 might prevent someone from starting a business selling related components.
|Economic||A raise in the living wage -
If you plan on using low wage employees, a decision like this will likely impact your profits. Or a rise in the base interest rate if you are planning on borrowing money could make repayments unaffordable.
|Social||Palm oil-driven deforestation -
There are growing movements away from the use of palm oil that causes mass deforestation. If you were thinking of using palm oil as an ingredient, you might face marketing hurdles and negative PR if you are not using sustainable palm oil or environmentally friendly alternatives.
|Technological||Emerging technologies -
Make sure you keep an eye on technologies that are emerging in your marketplace.
Who can forget Blockbuster and their unwillingness to engage with Video On Demand, to their demise.