Setting a website's application pool in IIS using Powershell
Set-ItemProperty iis:\Sites\swmarket -Name applicationpool -Value swmarket
Alternatively, with Powershell 3, you could do this:
New-WebAppPool -Name $WebSiteNameNew-Website -Name $WebSiteName -ApplicationPool $WebSiteName -HostHeader $WebSiteName -PhysicalPath $PathInfo -Port 80Set-Content $PathInfo\default.htm “PSCreated Default Page”
Check out the MS Technet description here.