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How can a firm differentiate between its direct and its indirect competitors? What are the advantages of identifying competition in situation analysis?
Fads
Short-lived trends or craze that gain rapid popularity and fade away just as quickly, often without leaving a lasting impact on society.
Social Change
The alteration in societal structures and norms over time, which may result from cultural, economic, or political influences.
Cultural Leveling
The process by which different cultures become similar to one another, especially as a result of travel, communication, and trade, leading to a reduction in cultural diversity.
Cultural Imperialism
The practice of promoting, distinguishing, separating, or artificially injecting the culture or language of one nation into another, usually because of unequal relations of power.
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