PESTLE meaning
-political
-economic
-social
-technological
-legal
-enviromental
political
-goverment social+economic factors
-extent of goverment intervención
economic
-business cycle
-income levels
-exchange rates
-levels of inflación and unemployment
-european union
social
-demographic factors
-ethical issues
-influence of shareholders
-pressure groups
-changing lifestyles
technological
new products +processes
-impact and costs of change
legal
legalisation
enviromental
enviromental issues and fairtrade
factors affecting demand
-price of product
-price of other products
-tastes and fashion
-technology
-marketing +advertising
-seasonal factors
-goverment factors
what is market conditions
how well the economy is doing measured by GDP
what is GDP
total market value of all finished goods and services produced within national borders
what are 3 positives of competition
-firms try and improve
-efficiency in operation
-cost effective operation
3 negatives of competition
-can mean quality is sacrificed
-can face businesses out the market
-larger businesses can push smaller ones out the market
what are demographic factors
statistical data relating to particular groups in a population such as age, gender and religion
incomes: what are disposable incomes
amount of money a person has left to spend or save after paying taxes and other essential deductions
what 2 things affect income
-type of job
-minimum wage
what is fair trade
a trading partnership that aims to give producers in developing countries better prices and working conditions
what are interest rates
cost of borrowing and reward for saving
what is the current interest rate in England
4%
interest rates influence demand for goods by influencing
-savers
-borrowers
-investors
-businesses
-
key terms unit 122
-
external environment19
-
leadership styles18
-
stakeholders and decisions30
-
stakeholder mapping and Conflict15
-
Ped and Yed19
-
extrapolation and correlation8
-
marketing objectives15
-
sampling +research17
-
Boston matrix14
-
product lifecycle13
-
seven Ps- PROMOTION12
-
seven Ps- pricing9
-
rest of the seven PS4
-
PLCs and SHARES10
-
operations intro- unit 412
-
unit 4 QC + QA8
-
unit 4: measuring performance11
-
unit 4: decision making to improve operational performance11
-
unit 4: lean production13
-
unit 4: tech in business17
-
unit 4: quality5
-
unit 4: managing supply to match demand8
-
break even5
