The first tool we will look at is commonly known as a P-E-S-T analysis. Whether you’re familiar with this tool or not my hope is that this post will provide some useful ideas and perspectives.
This is the second post in a series entitled: “5 Analysis Tools: A Conceptual Look at PPC.” This series will focus on utilizing these five tools to help you develop and manage a strong paid search advertising strategy.
Porter’s Five Forces is the next analysis tool to add to your PPC toolbox.
Porter’s Five Forces Method is used to determine the competitive forces at work in a given business situation. It goes beyond just looking at your direct competitors but at other forces at work in your industry (“The Five Competitive Forces that Shape Strategy”).
These forces are supplier power, buyer power, competitive rivalry, threat of substitution, and threat of new entry (“Porter Five Forces Analysis”).