Unit 1 KA6- External Factors Flashcards
1
Q
What acronym is used to remember external factors
A
P- Political
E- Economic
S- Social
T- Technology
E- Environmental
C- Competitive
2
Q
Explain the political factor
A
Political
new legislation
taxes
political stability
3
Q
Explain the economic factor
A
Economic
economic growth
unemployment rate
interest rates
inflation
exchange rates
4
Q
Explain the social factor
A
Social
changes in taste and fashion
demographics
lifestyles
tastes and trends
ethical
5
Q
Explain the technological factor
A
Technological
ICT
research and development
automation
e-commerce
6
Q
Explain the environmental factor
A
Environmental
climate change
weather
7
Q
Explain the competitive factor
A
Competitive
imitators
price wars
product differentiation
