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G1L2-Environment and Market
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It refers to the external factors that affect the business like the needs and wants of the people.
Environment
A place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. - A particular audience.
Market
These are desires, luxury and extravagance that signify wealth and an expensive way of living.
Wants
These are the things that every individual needs in order to live with dignity.
Needs
These are things that are perceptible by touch.
Tangible
Intangible item which arises from the output of one or more individuals. It is usually a result of the interaction between the customer and the business owner or staff.
Services
A tangible item that is put on the market for acquisition, attention or consuption. Examples are cars, jewelries, and computers.
Products
Businesses are not only affected by the personal entrepreneurial competencies of the owner but it is also affected by ____________ and _______________.
Market and Environment


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