•Demographic population/population changes – Declining population leads to reduced demand for a product
•Economic factors (money) – if the people’s purchasing power declines, demand for the products may decline.
•Social cultural factors – if the customers/ values/beliefs shared by a society protest a given product less of it will be ought.
•Political factors – Political instability may lead to destruction of business property
•Legal factors such/changes in laws and regulations – Legislation against a business may lead to its closure
•Physical factors – Adverse climate may lead to reduced supply of raw material
•Competitors – increased competition may take away business customers leading to reduced sales
•Intermediaries should be carefully chosen and monitored otherwise the goods and services produced by the business may fail to reach the intended users leading to loss of market
•Technological changes – Outdated technology leads to production of relatively low quality products hence reduced demand.
johnson mwenjera answered the question on January 6, 2018 at 19:44
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