Question

Importance of social and cultural environment

Answer 1

Social environment includes culturalaspects as well. How do we behave as consumers depend upon values, beliefs, attitudes, customs and norms, and lifestyles. These forces do impact what, why, where, how and when people buy products and services.

Answer 2

Answer:

One of the significant components of the business environment is a socio-cultural environment. The socio-cultural factors are one of the main environmental factors that significantly affect the economic activity of multinational companies and their performance as well.