EXTERNAL ANALYSIS1An external analysis is a process which is vital for a company to determine the area inwhich they can compete in a certain market. The key elements of an external analysis includeidentifying political, economic, technological, environmental and legal factors. These factorsenable a company to identify potential threats in the market (Hair et al., 2008). With these factorsin mind, it is easy to strategically plan for an effective marketing strategy in which it gives thecompany a clear understanding of the type of market which is the best to compete in. thesefactors en ...
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