List and Explain the Factors That Drive Competition

question 69

Essay

List and explain the factors that drive competition.

Differentiate between primary and secondary data and their relevance to specific marketing issues.

Comprehend the legal and regulatory environment affecting marketing, specifically regarding corporate disclosures and protections.

Recognize the significance of cultural values and societal trends in marketing strategies.

Understand the principles of SWOT analysis in the context of environmental data and decision-making.

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Definitions:

Supervening Event

An event that occurs after the parties have entered into a contract and significantly changes the circumstances, possibly excusing performance.

Additional Labor

Extra workforce employed to meet increased demand or to complete a specific project or task.

Material Breach

A significant failure to perform under a contract which permits the other party to either demand performance or terminate the agreement.

Frustration of Purpose

A doctrine in contract law that can discharge the parties' obligations when a change in circumstances makes the contract impossible to perform as originally intended.