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MKTG 300: Principles of Marketing: Environment/Situation Analysis

This guide provides resources for the course, MKTG 300: Principles of Marketing. It also has resources for MKTG 200, Introduction to Marketing, and MKTG 201, Application in Marketing.

Environmental Scan

Environmental scanning is a process of analyzing internal and external factor of the environment.

What is a PEST Analysis?

PEST is a framework that you can use to analyze the context in which a company or industry operates. PEST is an acronym.

Political factors can include tax policies, changes in trade restrictions and tariffs, and government leadership.

Economic factors can include interest rates, inflation rates, gross domestic product, unemployment rates, levels of disposable income, and the general growth or decline of the economy.

Social factors can include trends in demographics (population size, age, and ethnic mix) as well as cultural trends and attitudes.

Technological factors can include changes in new product development and technological developments in an industry.

Resources for a Situation or PEST Analysis

Most resources featuring company overviews or industry overviews will have some information on environmental factors and their impact on a company or industry. Trade association websites often have some free information about industry trends and developments. You can also follow current events in the news and search for current articles related to a company or industry. Be sure to think critically about the information and write your analysis using your own words.

For public companies, be sure to check the company's 10-K report, especially the Risk Factor section.

While library resources do not include separate PEST/PESTEL reports, here are some things to check.