305 - PEST - Social Flashcards
1
Q
Social factors
A
Refer to changes in society that can have consequences for businesses, could include demographic changes, changing lifestyles, changes in consumer tastes and fashions
2
Q
A
3
Q
Demographic change
A
Can include: the size in the population, the median age of the population, migration
4
Q
Lifestyle factors
A
An increase in the number of economically active women, health consciousness, consumer behaviour, fashion changes, environmental consciousness, social impact
5
Q
It depends on factors:
A
How the business responds to change, the size of the demographic change, whether change means increase or decrease in sales/demand, the pace of the change
