ENTREPRENEURIAL PLANNING
MARKETING PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Laws and regulations
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Consumer attitudes
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Economic conditions
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Technological advancements
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Detailed explanation-1: -The political-legal environment is a combination of a lot of factors such as the current political party in power, the degree of politicization of trade and industry, the efficiency of the current government, government policies, current legal framework, the public attitude towards the economy, etc.
Detailed explanation-2: -Political environment comprises those elements that are related to government affairs in the type of government in power.
Detailed explanation-3: -The politics and regulations of the company’s home country can determine its opportunities outside national borders. One of the main types of regulation that international marketers need to be aware of are embargoes and sanctions which are used to distort the free flow of trade.