Learn how to do External Analysis of a company (with examples)

Marketing Management Course
AllAssignmentHelp Academy
  • 33 lessons
  • 10 quizzes
  • 10 week duration

9.2 How to combine everything together?

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Combining all the factors together is easier said than done. Prior to combining all the factors together, you have to know the level of importance of each of the PESTEL factors. You can use percentage to give weightage to each of the variables in each of the factors.

Rank all the external aspects in their order of importance to your business. After that grade each of them as per their current scenario. Suppose you took 1 to 5 grading, then you can give 5 for best state, and 1 for poor state. In the end you can total to see whether the situation is conducive.

This is just one blunt method that you can use.

One of the best methods that you can use is the expert’s help. Experts, with their extensive market experience, can help you know whether the market is favorable for you.