Market Factor
A factor relating to customers, competitors, or industry conditions that affects a business's performance.
Market factors are the external factors closest to the business: potential market size, customer preferences, competitor behavior, and the Five Forces reading of the competitive environment.
Often confused with
- External Factor
- Market factors are one kind of external factor, the ones about customers, competitors, and industry conditions; external factors also include regulation, weather, and technology.
Taught in
See also
4.4.D.2