Economic,legal,societal,and technological factors have created a highly competitive business environment in which customers are becoming less powerful.

Question

Quizplus · Accepted Answer

Economic, legal, societal, and technological factors have actually made customers more powerful in the business environment. Customers have access to more information and can easily compare prices and reviews, making it easier for them to switch brands or products. Companies therefore need to focus on meeting customer demands and providing excellent customer service to stay competitive.

Economic,legal,societal,and Technological Factors Have Created a Highly Competitive Business Environment