The Market Environment

The business has some control (depending on the attitude of the stakeholder) as it can negotiate with these stakeholders.

• True

• False

Challenges that may arise in the market environment relate to...

• customers

• suppliers

• competitors

• strategic alliances

Customer behaviour is influenced by the following factors:

• cultural

• social

• personal

• psychological

Many people are focused on their health nowadays and this is an example of a cultural factor.

• True

• False

The "middlemen" who form a link between the business and its consumers in the distribution channel are called... (one word)

Any business that targets the same market or a part of the market is a competitor.

• True

• False

The watchdogs of industry such as the SABS are called industry __________ .