How to do a Demographic Analysis for Organisations and Companies ?
Tools of demographic analysis: PESTEL analysis for business
In an ever-changing environment, it is important for companies to make decisions that take into account all the factors influencing their activities. To this end, now more than ever, PESTEL analysis is an essential tool for identifying and understanding the opportunities and risks associated with external changes.
From political influence to economic developments, let’s discover together how to perform a PESTEL analysis for your company and how to make informed decisions with this important analytical tool.
What is a demographic analysis?
Demographic analysis is a process of understanding the external forces that can affect the performance of a company or project. It enables organisations to make decisions taking into account the risks and opportunities associated with the external environment.
The demographic analysis is also used to assess the market, the industry, the regulations in force and the external impact on the project.
Definition: PESTEL analysis
PESTEL (Political, Economic, Social, Technological, Environmental and Legal) analysis is an analytical tool used by companies to study their strategic activities. It provides a comprehensive list of external factors that can influence the activities and success of an organisation.
Example
For example, a company may evaluate its own operations against a revolutionary new product introduced by the competition. It is essential that the company looks at all the internal and external factors that may have an impact on its product.
Subscribe to DeepL Pro to edit this Visit www.DeepL.com/pro for more information.
This includes its policy, financial availability, public demand and new technologies implemented.
What factors should be taken into account in a demographic analysis?
In order to conduct a comprehensive and effective demographic analysis, it is important to consider several key elements:
- PESTEL analysis: PESTEL analysis identifies all the external aspects that can have a
- significant impact on your business.
- Business activity: Current and future business objectives should be considered when
- conducting a demographic analysis.
- Impact of the external environment: Any external changes that may affect your business plans should be taken into account.
PESTEL analysis
PESTEL analysis is a powerful tool to analyse the external landscape and inform business decisions. It identifies six main areas to examine: Political; Economic; Social; Technology; Environmental; Legal.
This tool will help companies understand their strategic strengths and weaknesses, as well as their external opportunities and threats.
Company activity
In order to conduct an effective demographic analysis, it is important to consider precisely what your organisation’s business objectives are. This includes the nature of your products or services, and their positioning in a particular market.
Companies also need to consider their internal resources (financial, human, material, etc.) in order to understand their business and the challenges they face.
Impact of the external environment
Organisations need to carefully assess any external changes that may affect their business. These may include market and price fluctuations for goods and services, regulatory changes, new technologies being implemented or social changes.
Tools and considerations
When an organisation carries out a full PESTEL analysis, it is able to take into account the following factors
- Economy: it examines macroeconomic stability, inflation and interest rates.
- Policy: it examines policy reforms, regulations and tax increases.
- Social: it looks at the working population, its education and culture.
- Technology: examines the availability and adoption of new technologies in relation to the competition.
Ultimately, once a company has identified its key external factors, it is then ready to proceed with its demographic analysis.
Language
Navigation
Home
Services
Bloo online
Contact
Quick Links
About us
Careers
Privacy Policy
Terms and Conditions
- hello@blooapp.live
Copyright (c) 2023 Bloo. All Rights reserved