More informed component of the external environment

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Reference no: EM132204664

Context for question is Porter's 5 forces framework.

Today’s consumers are a better educated and more informed component of the external environment than ever. Consequently, they are more discriminating and increasingly demanding. How should business organizations plan to deal with these changes in their customers’ characteristics? What companies do you think have been successful at identifying and keeping up with customer demand and how have they accomplished this?

Reference no: EM132204664

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