BUISENESS MANAGEMENT
MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a legal external factor which could affect product development?
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Copyright Challenge
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Economic Recession
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Interest rate rise
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Launch of a new mobile operating system.
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Explanation:
Detailed explanation-1: -These are: political-For example, new legislation. economic-For example, inflation and unemployment. social-Changes in taste and fashion or the increase in spending power of one group, for example, older people. technological-For example, being able to sell goods online or using automation in factories.
Detailed explanation-2: -External factors are elements from outside the company that affect business performance, such as competition, economic climate, political and legal environment, technological advances, or major global events.
Detailed explanation-3: -PESTEL stands for Political, Economic, Social, Technological, Environmental and Legal.
There is 1 question to complete.