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  2. Market environment - Wikipedia

    en.wikipedia.org/wiki/Market_environment

    The scanning process makes the organization aware of what the business environment is about. It allows the organization to adapt and learn from that environment. [19] When the company responds to an environmental scanning process it allows them to easily respond and react to any changes to both the internal and external business environment.

  3. PEST analysis - Wikipedia

    en.wikipedia.org/wiki/PEST_analysis

    In business analysis, PEST analysis (political, economic, social and technological) is a framework of external macro-environmental factors used in strategic management and market research. PEST analysis was developed in 1967 by Francis Aguilar as an environmental scanning framework for businesses to understand the external conditions and ...

  4. Glossary of economics - Wikipedia

    en.wikipedia.org/wiki/Glossary_of_economics

    Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...

  5. Market analysis - Wikipedia

    en.wikipedia.org/wiki/Market_analysis

    Market research about market structures and processes must be done to define the “relevant market”. The relevant market is an integral part of the whole market, on which the company focuses its activities. To identify and classify the relevant market, a market classification or segmentation has to be done. [3]

  6. Free market - Wikipedia

    en.wikipedia.org/wiki/Free_market

    In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any other external authority.

  7. Market research - Wikipedia

    en.wikipedia.org/wiki/Market_research

    Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. [1] It is an important component of business strategy [2] and a major factor in maintaining competitiveness.

  8. Context analysis - Wikipedia

    en.wikipedia.org/wiki/Context_analysis

    Context analysis is a method to analyze the environment in which a business operates.Environmental scanning mainly focuses on the macro environment of a business. But context analysis considers the entire environment of a business, its internal and external environment.

  9. Market (economics) - Wikipedia

    en.wikipedia.org/wiki/Market_(economics)

    Market participants or economic agents consist of all the buyers and sellers of a good who influence its price, which is a major topic of study of economics and has given rise to several theories and models concerning the basic market forces of supply and demand.