Marketing Planning
What is a PESTLE analysis?
A framework or tool used by marketers to monitor outside influences that can
impact an organisation. ‘’A PESTEL analysis is a framework or tool used by
marketers to analyse and monitor the macro-environmental (external
marketing environment) factors that have an impact on an organisation.’’
Political
Political factors can have an impact on Barclays in many ways and the way that
they run. For example, the government in all countries set rules and
regulations that all businesses have to follow including Barclays. The
government can change these laws anytime which can have an impact on
Barclays and the way they run. For example, the government can increase or
decrease the number of interest rates that business has to pay which affects
them borrowing loans from the bank, which most all businesses do. Interest
rates are the percentage of money that is charged from the total amount when
borrowing a loan from the bank. The current interest
rates in the UK stand at 0.75%, however, due to Brexit;
the interest rates might increase in 2019 if UK leaves EU
smoothly. A rise in interest rates will have a major impact
on Barclays, as it will be more expensive for them to
borrow loans from the bank which will affect their profit.
‘’Even a small change in interest rates can have a big
impact. It’s important to keep an eye on whether they
rise, fall or stay the same.’’ Barclays operates in different countries, not just
the UK, which means the need to follow the different sets of laws in the
country that they are operating in and respond to the changes in the rules in
order to avoid breaking the law.
Economic
There are economic factors that can have an impact on businesses such as
Barclays. Most businesses get their supplies from other countries, for example,
businesses in the UK will get their products from outside the UK because it is
much cheaper to import than to purchase from the same country. One of the
economic factors that can impact Barclays is the exchange rates, for example,
an increase or decrees in the value of the currency can make it cheaper or
more expensive to import good from other countries. The value of the pound
sterling in the UK has recently increased, which is a good thing for Barclays.
What is a PESTLE analysis?
A framework or tool used by marketers to monitor outside influences that can
impact an organisation. ‘’A PESTEL analysis is a framework or tool used by
marketers to analyse and monitor the macro-environmental (external
marketing environment) factors that have an impact on an organisation.’’
Political
Political factors can have an impact on Barclays in many ways and the way that
they run. For example, the government in all countries set rules and
regulations that all businesses have to follow including Barclays. The
government can change these laws anytime which can have an impact on
Barclays and the way they run. For example, the government can increase or
decrease the number of interest rates that business has to pay which affects
them borrowing loans from the bank, which most all businesses do. Interest
rates are the percentage of money that is charged from the total amount when
borrowing a loan from the bank. The current interest
rates in the UK stand at 0.75%, however, due to Brexit;
the interest rates might increase in 2019 if UK leaves EU
smoothly. A rise in interest rates will have a major impact
on Barclays, as it will be more expensive for them to
borrow loans from the bank which will affect their profit.
‘’Even a small change in interest rates can have a big
impact. It’s important to keep an eye on whether they
rise, fall or stay the same.’’ Barclays operates in different countries, not just
the UK, which means the need to follow the different sets of laws in the
country that they are operating in and respond to the changes in the rules in
order to avoid breaking the law.
Economic
There are economic factors that can have an impact on businesses such as
Barclays. Most businesses get their supplies from other countries, for example,
businesses in the UK will get their products from outside the UK because it is
much cheaper to import than to purchase from the same country. One of the
economic factors that can impact Barclays is the exchange rates, for example,
an increase or decrees in the value of the currency can make it cheaper or
more expensive to import good from other countries. The value of the pound
sterling in the UK has recently increased, which is a good thing for Barclays.
