Question

Topic: Student Questions

The Economic Aspect Of Pestel Model

Posted by Anonymous on 9/27/2008 at 12:07 AM ET 250 Points
we have been given a marketing project where we need to carry out a marketing research of the product women horlicks. one of the requirements is to focus on the pestel model of macro environment.
i'm working on the sociocultural effects and economic effects.
i live in pakistan, and in context of this information i'd like to know how can i apply the economic factor on the product. do i need to talk about the economic condition of the target market or the country as whole?
also what type of questions i need to answer under the heading of sociocultural aspect of macro environment?
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RESPONSES

  • Posted by Peter (henna gaijin) on 9/30/2008 at 12:00 PM Accepted
    For basics on PESTEL, you may want to look at: https://www.oup.com/uk/orc/bin/9780199296378/01student/additional/page_12.h...

    On the economic factors, you need to look at:
    Economic -
    - Interest Rates
    - Inflation
    - Economic growth of country
    - Exchange rates
    - stage of business cycle

    You would apply each of these areas to Horlicks doing business in Pakistan. For example: Horlicks, to my knowledge, is not manufactured in Pakistan, so exchange rates matter as it will affect the cost of the product.

    You would talk about the economic conditions of the country as a whole, and then talk about how that would impact the product in question (so also talk about its impact on the target market).

    The sociocultural would talk about demographics and lifestyle changes in the country, and how that would impact the product.
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