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Market environment (Labour markets and labour unions (Businesses also need…
Market environment
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Suppliers
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Provide inputs (raw materials, equipment, energy , capital and labour) into an organisation
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Consists of the market (customers, the labour market and labour unions), suppliers, intermediaries and competitors, which are sources of both opportunities and threats
Conditions in the customer marketplace are influenced by variables in the macro-environment: demographic trends, economic factors, cultural influence
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South African businesses operate in a complex market environment, characterised by a heterogeneous population
Management needs to be fully informed about all aspects of consumer needs, purchasing power and buying behaviour
Enables management to analyse specific segments of the market according to which products or services were purchased.
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