Social factors

Question 1

What are social factors ?

Answer 1

Demographic changes

Question 2

What 2 demographic changes affect business activity ?

Answer 2

1. Changing consumer tastes and fashions
2. Changing lifestyles and cultural values

Question 3

What 4 factors impact demographic change and social factors ?

Answer 3

1. Income
2. Age
3. Geographic region
4. Social factors

Question 4

What are 5 disadvantages of demographic and social factors ?

Answer 4

1. Focusing marketing solely may lose customers who don’t fit average trend
2. Costly
3. Carries risks and uncertainties
4. Needs to be specific
5. Trends change constantly