From the course: Global Marketing: Expand the Reach of Your Product and Service Offerings
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How political and economic policies effect growth
From the course: Global Marketing: Expand the Reach of Your Product and Service Offerings
How political and economic policies effect growth
- [Instructor] Tackling the process of analyzing a new geographic market may sound overwhelming, but I'm going to share a tool that makes it possible. It's called a PESTEL analysis. This is a strategic tool used to understand the macroenvironmental factors that could impact a market. It stands for political, economic, social, technological, environmental, and legal factors. Let's start at the beginning. The P stands for political. These are the influences exerted by government policies and administrative practices that can affect business operations. These include things like the likelihood of changes in a government that can affect business confidence and investment. Items like the corporate tax rates, value-added taxes and other tax policies that might impact profitability are captured in this analysis. The political section is also where we look at the regulations related to import and export, trade tariffs and trade agreements, as they can influence market accessibility and costs.…
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