Marketing Principles - The External Environment

What did we cover last week? One more time...

• Finding Resources

• Company Mission

• Company Vision

• Introduction to Branding

Draw your favourite brands logo...

Which of these is a consequence of a strong brand identity?

• A) Higher customer loyalty

• B) Increased production speed

• C) Lower advertising costs

• D) Lower product quality

What is the primary purpose of branding for a business?

• A) To reduce production costs

• B) To differentiate from competitors

• C) To decrease customer loyalty

• D) To increase employee satisfaction

In PEST analysis, what does the P stand for?

• • A) Product

• • B) Political

• • C) Pricing

• • D) People

Which of the following would be included in the economic factor of PEST analysis?

• • A) Interest rates

• B) Legal regulations

• C) Cultural trends

• D) Environmental laws

What kind of changes would be analysed in the technological part of a PEST analysis?

• A) Changes in government policies

• B) Advancements in automation and AI

• • C) Environmental conservation efforts

• D) Population growth

How can political factors in a PEST analysis affect a business?

• A) By influencing the culture of the workplace

• B) Through changes in labour regulations

• C) By impacting consumer tastes and preferences
  

• D) By modifying the product quality

What does conducting a PEST analysis help businesses understand?

• A) Internal operations

• B) Market segmentation

• C) External macro-environmental factors

• D) Employee satisfaction levels

A rise in interest rates would most likely fall under which part of PEST analysis?

• A) Political

• B) Economic

• C) Social

• D) Technological