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Political Factors.: PSET Analysis

The document discusses factors that should be considered for political, economic, sociocultural, and technological analysis (PSET). For political factors, it lists questions about government stability, policy, ethics, the economy, and culture/religion. Economic factors include interest rates, inflation, employment, GDP. Sociocultural factors cover religion, attitudes toward foreign products, language, leisure time, gender roles, life expectancy, and environmental views. Technological factors discuss how technology impacts product/service quality, innovation, distribution, and communication with consumers.

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iqbal_ahe
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18 views

Political Factors.: PSET Analysis

The document discusses factors that should be considered for political, economic, sociocultural, and technological analysis (PSET). For political factors, it lists questions about government stability, policy, ethics, the economy, and culture/religion. Economic factors include interest rates, inflation, employment, GDP. Sociocultural factors cover religion, attitudes toward foreign products, language, leisure time, gender roles, life expectancy, and environmental views. Technological factors discuss how technology impacts product/service quality, innovation, distribution, and communication with consumers.

Uploaded by

iqbal_ahe
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PSET Analysis

Political Factors.
The political arena has a huge influence upon the regulation of businesses, and the spending
power of consumers and other businesses. You must consider issues such as:

1.How stable is the political environment?

2.Will government policy influence laws that regulate or tax your business?

3.What is the government's position on marketing ethics?

4. What is the government's policy on the economy?

5. Does the government have a view on culture and religion?

6. Is the government involved in trading agreements such as EU, NAFTA, ASEAN, or others?

Economic Factors.
Marketers need to consider the state of a trading economy in the short and long-terms. This is
especially true when planning for international marketing. You need to look at:

1. Interest rates.

2. The level of inflation Employment level per capita.

3. Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so on.
Sociocultural Factors.
The social and cultural influences on business vary from country to country. It is very important
that such factors are considered. Factors include:

1.What is the dominant religion?

2.What are attitudes to foreign products and services?

3.Does language impact upon the diffusion of products onto markets?

4.How much time do consumers have for leisure?

5.What are the roles of men and women within society?

6.How long are the population living? Are the older generations wealthy?

7.Do the population have a strong/weak opinion on green issues?

Technological Factors.
Technology is vital for competitive advantage, and is a major driver of globalization. Consider
the following points:

1. Does technology allow for products and services to be made more cheaply and to a better
standard of quality?
2.Do the technologies offer consumers and businesses more innovative products and services
such as Internet banking, new generation mobile telephones, etc?

3.How is distribution changed by new technologies e.g. books via the Internet, flight tickets,
auctions, etc?

4.Does technology offer companies a new way to communicate with consumers e.g. banners,
Customer Relationship Management (CRM), etc?

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