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Researching a Market

Recommended resources for market research

What is PEST or PESTLE Analysis?

PEST or PESTLE analysis is used to identify important external (macro-environment level) forces that could affect a company, creating opportunities or threats for the organization. This analysis is also performed to assess the potential of a new market. PEST is an acronym that stands for Political, Economic, Socio-cultural and Technological. PESTLE adds Legal and Environmental factors.

Conducting a PEST or PESTLE analysis helps business decision-makers understand the current and potential factors surrounding and influencing an organization. With this understanding, the company is better positioned to exploit opportunities, defend against threats, or identify a more suitable market. 

Recommended Resources for PEST/PESTLE Analysis

Watch this video to learn how to create a PEST analysis using the Passport database:

Passport Demonstration: Creating a PEST Analysis