What are the five external factors explain and identify?
What are the five external factors explain and identify? External environmental factors are the factors outside the organization that influence the business. These often include the social and cultural, natural environment, political, legal, technological, and economic factors.
What are the five factors of external environment?
To get a better idea of how they affect a firm's marketing activities, let's look at each of the five areas of the external environment.
- The Political and Regulatory Environment. ...
- The Economic Environment. ...
- The Competitive Environment. ...
- The Technological Environment. ...
- The Social and Cultural Environment. ...
- Consumer Behavior.