BUSINESS TECHNOLOGY 0.2

Marketing mix

Product, Price, Place, Promotion

Purchasing mix

Quantity, Quality, Price, Delivery

Porter's five forces

threat of new entry, threat of substitute, bargaining power of supplier , bargaining power of customer, and competitive rivalry

Competitive rivalry

intensity of competition between existing firms

Threat of new entrants

how easy it is for new firms to enter

Bargaining power of customers

Customer's ability to push prices down

Bargaining power of suppliers

supplier's ability to raise input prices

Threat of Substitutes

Availability of alternatives that meet the same need

PESTEL

political- related to gov't

economic- state of region's economy

social- society of region age etc

technological- state of technology

environmental

legal- laws and regulations

Supra-national bodies

some forms of law come from bodies outside the national jurisdiction

Delegated legislation

parliament makes the law and gov't details it

Case law

courts interpret laws & make rules/rulings where legislation is unclear

Statue law

Law made by parliament