When we engage with a new client – potentially, you – it is very important for us to understand exactly what it is that you want to accomplish and marry that with your mission, vision and values. This helps us produce a truly tailored marketing strategy that tells your unique brand story. As part of the process, we conduct a personalised workshop where we measure your expectations and conduct P.E.S.T and S.W.O.T analyses. But what exactly do P.E.S.T. and S.W.O.T. stand for? And what can they tell us about your business?
What does P.E.S.T. stand for?
Structure, leadership, and other internal factors play an important role within a business strategy. But the importance of external factors shouldn’t be underestimated. While none of us can predict the future, it is easier to embrace challenges that could come your way if you already have an idea about what these challenges may be. P.E.S.T. analysis enables you to systematically discover and quantify such external factors. The idea was conceived by Harvard professor Francis J. Aguilar in 1967 and stands for political, economic, social, and technological factors that can affect your business performance. It works best in combination with other tools, such as S.W.O.T. analysis which we will discuss in our later post.
What are the benefits of P.E.S.T.?
By understanding the potential political, economic, social, and technological factors that can affect your business performance, P.E.S.T. can help you identify the best timing to launch a product, for example, or make wiser, more informed decisions about the next steps that your company should take. The founder of the Pestle Analysis website Jim Makos told in an interview with Business News Daily that P.E.S.T. analysis not only enables a company to prepare for future challenges but “also helps you highlight the opportunities you can cash in on and threats which could harm your business.”
360° view of your company – sign up for our winning workshop today!
For us at Cre8ion, it is important to gain a 360° view of your company before creating your new brand identity and marketing strategy. Contact us today to sign up for our winning workshops and discover the ‘Why’ of your business for only £500 – or we can come to you for a small additional cost!