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Components of external environment (Demographic (gender, education level,…
Components of external environment
Economic
interest rates
inflation
changes in disposable income
stock market fluctuations
business cycle stages
Demographic
gender
education level
race
age
geographic location
income
family composition
Technological
scientific innovations
industrial innovations
Sociocultural
values
attitudes
trends & tastes
traditions
lifestyles
beliefs
patterns of behaviour
Political / Legal
local laws & regulations
laws of other countries
global laws