I need help? I need to product a pest analysis for my business project the topic is a new smoothie company.!

Question

I am new and could do with some help. i would appreciate any help thank you.

Pest=

Political factors that could affect my business for example does my business need to comply with any laws and regulations such as the health and aftey act.

econmic factors such as inflation rates rising

social factors for example some fruits maybe in fashion therefore making that smoothie would be ideal

technology- such as new better equipment maybe coming out therefore costs of changing technology to compete with competitors.

Answer 1

i loved business studies i did it for a level last year and i had to do this too.

political factors could be the government trying to encourage the nation to eat healthy therefore they may be encouraged to have a smoothie ( 5 fruits and veg a day advice)

economic- the increase in prices in general may mean that people may decide not to buy a smoothie because of the high costs of them compared to other drinks ( over 2 pound smoothies are i think and some drinks are lower)

social- people are more health conscious so may decide to drink a smoothie to get their 5 a day

technology- ( i cant think of anything right now)

good luck if i still had my coursework id get it out and give you some tips based on it.  

Answer 2

I would use the PESTLE model, which also incorporates Legal and Environmental aspects.  There is a free PEST analysis template on businessballs.com (use the left hand navigation toolbar to find anything you want) as well as some interesting information when using this tool.

It provides some examples in each category for you to consider as well as giving some alternative analysis tools, such as SWOT.

In terms of smoothie making - I would take a look at Innocent Drinks as a case study and an example of best practice.

Good luck!