PEST Model

PEST Model: Political, Economic, Social and Technology Analysis

The PEST model is decision making model used to measure a market, including competitors from the standpoint of a particular proposition or a business. When used as a tool, is works well to understand market growth or decline, such as potential and direction for a business. It is a model used to measure business, in terms of (P)olitical, (E)conomic, (S)ocial, and (T)echnological factors. Like SWOT, it can be used in matrix format, and are can be used to review direction of a company, it’s strategy or position within it’s market, or a specific proposition or idea. Factors such as Ecological, Legislative, and Industry should be included within the four quadrants, where applicable.