The Interrelationship Between Micro and Market Environments (Grade 10 NSC Matric Business Studies): Flashcards
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Micro environment
Micro environment
Internal business environment
Market environment components
Market environment components
Consumers, suppliers, intermediaries, competitors
Customer base
Customer base
Group of customers that a business serves
Market research
Market research
Gathering info about customers' needs and preferences
Raw materials
Raw materials
Materials that have not been processed
Supply shortage
Supply shortage
Struggle to find suppliers with right quality, quantity, price
Intermediaries
Intermediaries
Businesses that distribute & sell goods from other businesses
Competitors
Competitors
Businesses that sell similar or identical goods & services
Alliances
Alliances
Joint ventures between two or more businesses
Resources businesses compete for
Resources businesses compete for
Customers, labour, suppliers, locations, capital, talent