What is an example of an external environment?
What is an example of an external environment? Elements of the external environment include the economy, changes in technology, regulation, competition, socio-economic factors, and others.
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.