Frederick Community College Facilities Master Plan Chapter 2 Environmental Scan 2-32 May, 2023 DATA GATHERING The data gathered is in consideration of the following factors that will be analyzed later:89 A PESTEL analysis is a framework or tool used by marketers to analyze and monitor the macro-environmental (external marketing environment) factors that have an impact on an organization, company, or industry. It examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. A PESTEL analysis is used to identify threats and weaknesses which are used in a SWOT analysis. Political factors include government policies, leadership, and change; foreign trade policies; internal political issues and trends; tax policy; regulation and de-regulation trends. Economic factors include current and projected economic growth; inflation and interest rates; job growth and unemployment; labor costs; impact of globalization; disposable income of consumers and businesses; likely changes in the economic environment. Social factors include demographics (age, gender, race, family size); consumer attitudes, opinions, and buying patterns; population growth rate and employment patterns; sociocultural changes; ethnic and religious trends; living standards. Technological factors affect marketing in (1) new ways of producing goods and services; (2) new ways of distributing goods and services; (3) new ways of communicating with target markets. Environmental factors are important due to the increasing scarcity of raw materials; pollution targets; doing business as an ethical and sustainable company; carbon footprint targets. Legal factors include health and safety; equal opportunities; advertising standards; consumer rights and laws; product labeling and product safety. The acquisition of the data/information has been by various means. There have been more than forty formal and informal interviews conducted. The individuals interviewed have been at Frederick Community College, the City of Frederick, Frederick County, and State of Maryland agencies. Extensive research has been done in trade journals, newspapers, newsletters, case studies, government publications, and magazines. There has been online research of websites at the global, national, regional, state, and local levels. It has been data and information provided by governments, non-governments, and privatefor-profit and private not-for profit organizations. Lastly, on-site observations were conducted at the main campus and the Monroe Center. Every accessible instructional space in the Frederick Community College inventory was observed and some photographed and noted. Staff provided documents online for review. 89https://blog.oxfordcollegeofmarketing.com/2016/06/30/ pestel-analysis/
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