Current trends Flashcards
(3 cards)
1
Q
Dynamic market
A
is a market that is subject to rapid or continuous changes
Adaptation is key
Businesses with monopoly power (e.g. Universal) might not face the same dynamic pressures as businesses in more competitive markets
2
Q
PESTLE
A
Political
Economic
Social
Technological = very important in music
Legal
Environmental
Managers can use the information to understand the potential threats to the businesses performance and identify future difficulties so that action can be taken to help avoid and eliminate their effects
3
Q
Product Life Cycle
A
Research + Development
Introduction
Growth
Maturity
Decline
How has the products in the music industry grown and developed
