Divide into short-term and long-term

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Once you have classified the opportunities or threats (risks) for your company, you need to determine the length of time that each fact will affect you as either "short-term (things that will happen in the near future)" or "long-term (things that will happen in the future) . "



When reviewing information, it is important to understand whether it is likely to happen in the short term or over the long term.



Short-term impacts typically refer to effects or changes armenia telegram data that occur within a year, while long-term impacts generally refer to longer periods, such as three, five, or ten years.



The situation is constantly changing, so it's important to understand the timeline and prioritize the issues that need to be addressed .

Step 7:　Implement the analysis results into a policy
After completing the analysis using steps 1 to 6, the final step is to incorporate the results of the analysis into the formulation of a business and marketing strategy .



There is no point in simply conducting a PEST analysis and listing the factors, so we use the results to optimize business policies and consider how to use them in marketing.



Using the analysis results as a reference, consider what specific policy your company should adopt. Prioritize your measures based on the urgency and importance of the timeline, and start with the items that need to be considered in the short term .

In addition, after clarifying the direction at each stage, in addition to PEST analysis, you should also use frameworks such as 3C analysis, 5 force analysis, 4P analysis, and SWOT analysis to help formulate basic and marketing strategies.

What is PEST analysis? How to do it, what are its purposes, and what are its four elements?

In this article, we have introduced you to the following : What is a PEST analysis? We explain how to do it, its purpose, and its four elements! What did you think?



PEST analysis is a framework suitable for broadly analyzing the external environment, making it easier to predict future business opportunities and risks based on four elements: politics, economy, society, and technology.



You can understand in advance the medium- to long-term impact that may have on your company and the market, and develop future marketing strategies to prepare for a variety of situations.



Use PEST analysis to develop your marketing strategy and lead to further business growth.