Analysis Of The PEST Framework On Business

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The PEST framework is a valuable analysis of the political, economic, social and technological factors that may affect a modern business in the external environment and the impact each factor can have on a business’s relationship with stakeholders such as suppliers and consumers (Wetherley and Otter, 2014). This assignment will focus on how modern businesses and the UK are impacted by various political, economic, social and technological factors that make up the PEST framework and how certain factors will impact the UK and the Business world in the future suggesting the need to adapt in order to reach their target demographics and how certain factors can create a ripple effect for a business.
Political
When looking at political factors there …show more content…

Celebrity endorsements help to create more brand awareness for a business and the higher profile and well known the celebrity is then the brand will be seen as a high quality product. Coca Cola use high profile celebrities such as Taylor Swift to endorse their products. This helps boost sales as people believe that the product is good enough for them at a low price if a celebrity is seen endorsing it. Although if the celebrity is being presented in the media in a negative way then it can affect a customer’s opinion of the product and influence people not to buy the …show more content…

Social media can be used to target specific demographics through posts but it can also be used to communicate with customers as many businesses have began using Twitter and Facebook to interact with customer’s queries, complaints and feedback creating a close relationship with customers. Social Networking use has rapidly increase in recent years and has becoming a successful marketing tool for many businesses due to social media being incorporated into the daily life of millions. Social media can be used to target specific demographics through posts but it can also be used to communicate with customers as many businesses have began using Twitter and Facebook to interact with customer’s queries, complaints and feedback creating a close relationship with

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