'Trasso Ltd.' is a famous automobile company in small car segment in India. Recently, the company had to suffer a fall in demand due to a drop in the overall market growth. The various reasons for the downward trend included a rise in the fuel prices and interest rates, floods in Kerala and drought in some parts of Maharashtra which impacted sales during Onam and Ganesh Chaturthi, respectively. The launch of the new car in previous month by its rival, also affected its sales adversely. Moreover, the consumers wish to upgrade to more expensive hatchbacks, compact sedans and compact SUVs from smaller cars.
Identify and explain the related dimensions of business environment being discussed above.
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0
Answer:
A positive change in tastes or preferences increases demand (shifts it right/up). A negative change in tastes and preferences will decrease demand (shift it left/down). ... If tastes and preferences sour (make demand decrease) then we would expect market price and market quantity to decrease.
Explanation:
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Answer:
economic environment
social environment
technological environment
Explanation:
economic--any change due to money
social--any change due to society
technological--any change due to technology advancement
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