Page 92 - engage workbook

Social Technological

• Demographics • Competing technology development
• Lifestyle trends and leisure interests • Research funding
• Consumer attitudes and opinions • Associated / dependent technologies
• Media views • Replacement technology / solutions
• Law changes affecting social factors • Maturity of technology and capacity
• Brand, company, technology image • Impact of technology change on:
• Consumer buying patterns - Value chain
• Fashion and role models - Cost structure

• Major events and influences - Consumer buying mechanisms
• Buying access and trends • Technology legislation
• Ethnic / religious factors • Innovation potential
• Advertising and publicity • Technology access, licensing, patents
• Ethical issues • Intellectual property issues
• Globalization

Many variations of PEST are in use. Typically these add to the categories and focus on
areas of particular current interest. Variants include:
- SLEPT – adding Legal and re-arranging the letters
- PESTEL – the separating out of Environmental and Legal elements
- DESTEP – Demographic, Economic, Social, Technological, Ecological and Political

The usefulness of PEST and related approaches derives from broader thinking about the
general environment and the implications on the organization of any likely future changes
– either known or imagined. From such thoughts come new insights about how the
organization needs to change in order to survive and develop.

A consultant / salesperson who skillfully uses PEST in a buyer conversation is likely to be
viewed as thoughtful, strategic and commercial. You might also find it useful to use the
PEST approach to analyze the strategic environment for your own business!

Using PEST in a group setting involves a broader diversity of views and generates a
broader range of insights.

When brainstorming insights and ideas using PEST or other approaches,
refrain from qualifying individual contributions until you have exhausted ideas.
Early discussion of the pros and cons of each idea stops the flow of ideas.

87 engage-universe.com