BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Legal Environment
|
|
|
Social Environment
|
|
|
Technological Environment
|
|
|
Economical Environment
|
Detailed explanation-1: -How Health Consciousness affects this industry: Physical inactivity is often highly correlated with adverse health effects such as heart disease or depression. As health consciousness rises, consumers typically become more motivated to engage in physical activity, increasing demand for industry products.
Detailed explanation-2: -Individuals who lead a “wellness-oriented” lifestyle are concerned with nutrition, fitness, stress, and their environment. They accept responsibility for their health and are excellent customers for health-related products and services.
Detailed explanation-3: -Here is the good news: At least 93% of people in all age groups want to eat healthy at least some of the time. But according to the International Food Information Council, the age group between 25 and 34 were the most health conscious.
Detailed explanation-4: -As consumers are increasingly better educated and generally possess higher disposable income, there is a growing number of people who do not take a reactive stance to address their health needs and in turn, are more willing to pay premium prices for healthier food choices.