Market environment Flashcards
*memorise concepts * understand concepts * asses activities through study (16 cards)
* it is not in the business
what is the market environment
it refers to the immediate external components that directly affect the ability of the business to operate
* there are onlyfive
what are the components of the market environment
1.intermediaries
2.customers
3.suppliers
4.competitors
5.other organisations/ civil society
what is the market( customers)
it refers to all the people who have money to buy goods and services
name the kinds of other organisations/civil society
- community based organisations
- non governmental organisations
- regulators
- strategic allies
- unions
think the word supply
what are suppliers
they are individuals/agents who provide the raw materials , transport and other services to the businesses.
what are intermediaries
the intermediaries of abusiness are all those businesses that play arole in distributing/ promoting the goods and services to consumers
what are competitors
are all businesses that provide similar products or services for more or less the same target market
what are civil society/ other organisations
are those organisations that deal with social problems
community…
what are (CBOs)
community based organisations are established to assit the community with job creation, (SED) and becoming selfsufficiemt
what are NGOs
non governmental organisations are non profit organisations that operate separately from the government.
what are regulators
are government bodies thta make rule and regulations to control the activities of the business
what are unions
unions are established bodies that protect the interest of workers
what are strategic alliances
are businesses that combine their resources to undertake a project that will benefit all of them
what is the SWOT analysis
- Strengths
- weaknesses
- opportunities
- threats
what are threats
threats are any factors in the external environment that will stand in the way or is already standing in the way of businesses achieving their goals .
what are opportunities
opportunity takes place when consumers are made aware of the product if it is marketed by different businesses.
