The determination of a market for a given product or service require an intense understanding of the market trends and margin. These aspects can be well outlined prior undertaking research that describes the market target which can be achieved by conducting an extensive PESTEL analysis. The paper is based on the PESTEL Analysis which in particular defines the political, economic, social, technology and legal description of the targeted region of South Africa. The South African restaurant industry is doing well such that its establishment is within its standards and above it, all the industry records a standard annual growth rate of approximately 7%.
PESTEL Analysis is of great benefit to marketing personnel because it provides direction on how to enter the given market. The analysis provides an easy understanding of the targeted market. Above it all, the business is in a good position of learning the underlying unseen business trends. As a result, an organization develops a competitive advantage by being better informed. However, this analysis is limited to the extent that it requires intense research for the information to be acquired.
The political aspect provides a preview of the political stability which determines the environmental sustainability of the business by guaranteeing peace and safety. Inflation has hit the world and the economic attribute outline th…
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