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Political, Economic, Social and Technological (PEST) - Global Marketing

            The concept of global marketing begins with the belief that the world has no "center." The 'borderless' global marketplace includes the contribution of all countries - not only the industrialised and the newly industrialised nations, but also the developing economies in international competition. (Baker p. 144). .
             A marketer has to consider that the market is all about the people not about the products. The marketing environment around the world has been changing over time. Government, legislation, trade policy, foreign direct investment, labour policy, taxation policy, bilateral relation between countries, business cycles, stock exchange, new technology, consumer taste and trend – all of which are continuously changing from time to time in different countries. Marketers have to adapt to these changes. No marketers can rely on one fixed policy to survive in this competitive global market. A global company should consider the Political, Economical, Social and Technological (PEST) environment of each and every market before making a global marketing strategy. This analysis helps the marketer to find out the threats and risks associated with doing business in any particular market. The PEST analysis sets the foundation of SWOT analysis for a company which means finding out the Strengths, Opportunities, Weaknesses and Threats of a market (Lee & Carter, p. 6). .
             In order to be able to develop successful customer-driven global marketing strategies, organisations need to take shifting consumer demographics and outlooks into account. Changes in global consumer demographics, technological expansion in different countries, government legislation and other elements of PEST analysis help the company to get information which is important in setting the marketing strategy appropriately.
             Political instability and civil unrest of a country can affect businesses to a large extent. A good example is 'concerns that the instability in Egypt could affect shipping in the Suez Canal and disrupt oil supplies from the Middle East caused oil prices to rise further' (The Economist, vol.

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