Car manufacturers have a large lead time on new products. If an idea for a feature on a vehicle is developed, it will likely be two years before consumers know about it and can decide if they want to buy it. Consumer trends are sometimes short lived as they are always evolving. Which external analysis element is a primary focus of car manufacturers?

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01-02-2020
Business

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Car manufacturers have a large lead time on new products. If an idea for a feature on a vehicle is developed, it will likely be two years before consumers know about it and can decide if they want to buy it. Consumer trends are sometimes short lived as they are always evolving. Which external analysis element is a primary focus of car manufacturers?

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osondumartins osondumartins · Answer 1 · 2020-02-01T13:22:16+01:00

Answer: ASSESSING

Explanation: EXTERNAL ANALYSIS this is the study that deals with factors outside an organization or Business entities that affects the overall execution of tasks and performance of a business entity or an organization. They are mainly Macroeconomic factors like inflation, Demand, supply competition,consumer desires etc.

The external analysis which is been analysed is the Assessing,the car manufacturing firm is trying to assess(study) the needs of consumers and trying to prepare accordingly.