PESTLE is one of a well known series of acronyms used in business and marketing planning which summarises how to review the broader forces sometimes known as 'macro-environment' which shape a business: We rate PEST or PESTLE analysis as one of the top 20 marketing models which we feature in our digital marketing models guide.
In this article we will explain how to complete a PESTLE analysis covering each of the parts using an example of applying the analysis.
– Larry Ellison Personally, I disagree with Larry, and I think that the focus should be on the customer winning.
Hopefully that’s often through your product or service offering, but sometimes your competitors can serve customers looking for a solution better than you can.
When developing or updating plans, knowing where to start is often a challenge.
To better develop effective strategies to use in your marketing plan, begin by gathering information about both your company and the larger environment (competition, trends, statistics, etc.).
Learning from the competition But, whether you agree with Larry or me (or even Genghis), I’m sure that we can all see the value in better understanding what competitors are doing.
Your own approach will depend largely on your individual situation and which method you are most comfortable with.
The outline details six sections you may want to include in your plan, as well as links to relevant articles and software.
This affects your marketing plan decisions throughout the process.
The article includes 11 different information categories marketers can to turn to when creating plans.