The social environment includes all factors and trends related to groups of people, including their number, characteristics, behavior, and growth projections. Since consumer markets have specific needs and problems, changes in the social environment can affect markets differently. Trends in the social environment might increase the size of some markets, decrease the size of others, or even help to create new markets. We discuss here two important components of the social environment: the demographic environment and the cultural environment.
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Home » Core Concepts of Marketing » EXTERNAL CONSIDERATIONS IN MARKETING » EXTERNAL FACTORS THAT AFFECT PLANNING
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