Grading Criteria: AAA Explain what is meant by a PEST analysis. Describe the political factors which could affect your product Describe the economic factors which could affect your product Describe the social factors which could affect your product Describe the technological factors which could affect your product Use textbooks and the internet to help with the theory. Summary market research reports and news sites are especially good for PEST factors.
You must give very precise points and try wherever possible to support your points with examples and statistics. Make each point, in each section, separate. You can bullet point each factor, but you need some explanation of the point. It should not be simply be a list. A PEST Analysis looks at what is happening n the external environment of the restaurant industry. These factors are usually beyond the control Of a business.
A PEST looks at the following factors which could affect your restaurant: Political Economic Social Technological A Quick Quiz In which category would you put each Of the following: Inflation Changing eating habits Introduction of new touch screen ordering systems Unemployment Food Hygiene Laws Increase in the number of older people in the population Advertising on mobile phones Ban on smoking in public places A PEST analysis helps businesses:understand whether a market is likely to row or decline keep up with and take advantage of change Avoid taking decisions which are doomed to fail Explain briefly what is a PEST Analysis.