BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Components of Market Environment
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Customers
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Regulators
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Employees
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Government
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Competitors
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Explanation:
Detailed explanation-1: -Competition: The rivalry between companies selling similar products and services. Direct competitors: Companies who offer the same products and services aimed at the same target market and customer base. Indirect competitors: A company that offers the same products and services, but the end goals are different.
Detailed explanation-2: -It is made up of six components: demographic, economic, physical, technological, political-legal, and social-cultural environment.
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