Pest analysis is another marketing tool. Pest analysis examines the changes in the marketplace caused by political, economic, social and technological factors. Political factors changes involve one party to another who are in control. For example rises in private healthcare and privatisations, which is under the conservative government. Economic factors changes include changes such as a recession creating activity at the lower ends of the product price ranges. Also for instance the rate of interest rates rising depressing businesses, causing redundancies and lower spending levels Social factors changes include changing lifestyles and attitudes. The increase in women leaving work. , Also leading to the need for-time saving produces for home Technological factors involves changes as the public see it, this creates opportunities for the new products and product improvements and marketing techniques such as the Internet, e-commerce.
Political factors within Sony
Political factors can have a direct impact on the way Sony operates. Decisions made by government affect every day businesses and can come in the form of policy or legislation.
The political factors have a huge influence upon the regulation of businesses. Political factors effecting Sony can include the government laws such as the introduction to the minimum wage affects the employees of Sony as the hourly rate increases each year, every time the minimum wage increase Sony will have to pay taxes. This means less profit for Sony, unless they increase prices of items.
Introduction on euro makes trading easier, the exchange may drop in the UK, making Sony easier to expand. The policy Protectionism puts barriers on imports into a country to protect domestic producers which can affect the imports of Sony product in a positive light.
Economic factors within Sony
The economic factors effecting Sony can include the fall of Interest rates are low. Interests each year...