Law (labour law, consumer law, health and safety, international and trade regulations and restrictions).technology (digital or mobile technology changes, automation, research and development).Social (family demographics, education level, changing cultural trends, changing attitudes, changing lifestyle).Economics (interest rates, employment or unemployment rates, commodity costs, exchange rates).Politics (political policy and stability, trade, finance, tax system).
To better understand the market situation, a five-force analysis is conducted, including buyer bargaining power, supplier bargaining power, threat of new entrants, threat of substitutes, and threat of competition.
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