Learn how to create a PESTLE analysis to identify threats and opportunities in the macro environment to guide your marketing planning
You may have heard PESTLE mentioned when studying marketing theory or in your workplace. It is a powerful, yet simple, analysis tool for overall business and marketing planning. In this blog we explain what it is, why it is useful, and how you can create your own PESTLE analysis for marketing planning today.
What is a PESTLE analysis?
PESTLE is an acronym that covers 6 key areas in your macro (external) environment. Each letter stands for a different factor, as shown in the graphic below:
Did you know? Sometimes it is referred to as a PEST analysis, or spelt ‘PESTEL’, but the most common acronym is PESTLE.
A PESTLE analysis is a framework to help you identify external factors - happening outside…
Strategic analysis of an organization is an essential factor when it comes to formulating a plan for the smoother working of your company
Strategic analysis refers to the process of researching an organization and its working environment to formulate a strategy. There are many other definitions of strategic analysis with a different perspective. But they all involve a lot of common factors.
What is strategic analysis?
Strategic analysis of an organization is an essential factor for planning and optimizing your marketing strategy. With the help of strategic planning, you can align and achieve your marketing objectives with your business' overall vision.
Improvement is the one constant in any company. You need to keep improving your organization. So, to educate yourself, you must periodically conduct strategic analysis. This will then help your organization to plan ahead and determine which areas need improvement.
We've got marketing solutions to support you and your team to conduct and implement…
Learn how the PESTLE analysis model can help you assess your business’ place in a variety of environments
PESTLE is one of a well-known series of acronyms used in business and marketing planning which summarizes how to review the broader forces, sometimes known as the 'macro-environment', that can shape a business.
This is an introductory article, for more details see our post: How to create a PESTLE analysis for marketing planning?
What does PESTLE stand for?
PESTLE stands for:
Political
Economic
Sociological
Technological
Legal
Environmental
These are the contexts that a business should assess itself against to review competitors, markets, and the situation in which an organization finds itself.
Environment Factors affecting a business - Source: Chaffey and Ellis-Chadwick - Digital Marketing, Strategy, Implementation, and Practice
How to use PESTLE
The key technique with PESTLE is to dig deep. Many managers simply work through or tick…
