5b) Marketing & the external environment

Question 1

What are operating factors?

Answer 1

Operating factors are the
immediate external factors
impacting a business which a
business has some control over.

Question 2

What are Macro factors?

Answer 2

Macro factors are social, global,
legal, technological and economic
conditions that a business works
within and has no control over

Question 3

What is brand identity?

Answer 3

Brand identity is the unique set of
values a business seeks to portray
to its customers