How important is it to consider all external factors when planning marketing?

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You might think that a PESTLE analysis for marketing planning is overkill. You already have a good marketing plan for your business that is under your control. What’s the point of worrying about external factors if you can’t change them?

Marketers often have to focus on the internal environment, which is understandable. However, the reality is that by not assessing the external environment, you are missing out on identifying opportunities and threats to your business, whether you admit it or not.

Consider the popular myth about ostriches. They are said to bury their heads in the sand to hide from predators. They think they are safe in their dark burrow, when in fact the rest of their bodies are exposed and vulnerable to danger. Not assessing vietnam mobile database the macro environment is like a business burying its head in the sand and hoping for the best. It is also a very good way to fall behind competitors (fellow sufferers) who are always on the lookout for potential threats. Not an ideal situation.
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Why Use PESTLE Analysis for Marketing Planning
When creating a marketing strategy, it is important to assess both internal (micro) and external (macro) factors to identify opportunities and threats to your plan. A PESTLE analysis for marketing planning is a great, quick way to get an overview of your macro environment. What is happening outside your internal environment that you have little or no control over, but that will impact your business? This is a chance to respond to external influences and create tactics to overcome any challenges or take advantage of opportunities.

Tip: PESTLE is part of the situational analysis, which is part of the opportunity search part of OSA’s RACE planning framework.

It is common for businesses to focus on more immediate microenvironmental factors such as customers, competitors and intermediaries to attract and engage with. While this is important, PESTLE analysis is useful for identifying wider changes in the marketplace that may present opportunities that impact microenvironmental factors and help to consider legal factors.