Teresa is conducting market research to assess the feasibility of introducing a new product. She wants to determine the values, attitudes, lifestyles, and tastes of the target market. Which component of the external environment is Teresa assessing?

Sociocultural environment: The socio-cultural environment of a given business is the values and customs that lead the business's practices. This is developed by the demographic characteristics of employees as well as leaders. Socio-cultural environment guide the business's practices. Cultural aspects include education, language, religion, values and attitudes, aesthetics, etc.

Business decision making gets affected in two ways:

1. Businesses operated in a vacuum.

2. Advertising,

Teresa is conducting market research to assess the feasibility of introducing a new product. She wants to determine the​ values, attitudes,​ lifestyles, and tastes of the target market. Which component of the external environment is Teresa​ assessing?

Respuesta :

Otras preguntas

Teresa is conducting market research to assess the feasibility of introducing a new product. She wants to determine the values, attitudes, lifestyles, and tastes of the target market. Which component of the external environment is Teresa assessing?