The acronym, PEST allows one to consider the affects of Political, Environmental, Sociocultural, and Technological factors. The PEST analysis is the macro|-environmental section of an organization's marketing environment. This environmental analysis should be continuous and feed all aspects of planning. ... When weighing political factors, a company should consider the stability of the political environment, regulatory laws influenced by government policy, the governments position on marketing ethics, the government's policy on the economy, and the government's view on cul...

• Word Count: 729
• Approx Pages: 3
• Grade Level: Undergraduate

The external environmental factors are: 1. ... Competition Understanding the external environment: A critical task for the firm is the process of environmental scanning, the collection and interpretation of information about forces, events, and relationships that may effect the future of an organization. An organization's environmental scanning is performed by a group of specialists who collect and evaluate environmental data on a continuing basis. Environmental management: Although marketing managers consider the external environment to be uncontrollable, they may be able to infl...

• Word Count: 2146
• Approx Pages: 9
• Grade Level: Undergraduate

From the external environmental dealings, Walmart developed more than a business relationship with their suppliers; they obtained bargain power with them, allowing Walmart to have the best prices in the market. ...

• Word Count: 5563
• Approx Pages: 22