Ways Socio–Cultural Factors Can Affect Your Business — Leadership Newspaper
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Ways Socio–Cultural Factors Can Affect Your Business

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Leadership Nigeria News Today

Being in business is not only about knowing how to make sales and generate great profits, but it also involves understanding the environment you intend establishing your business. A complete business person ensures that he or she studies the social – cultural attributes of the people that live in the environment they intend starting their business during the feasibility studies. As culled from mytopbusinessideas.com, the following ways can affect business;

•MEANS OF COMMUNICATION: Every community has a means of communication and the ability for you to key into their style of communication will go a long way to positively impact your business. Much more than the language that is being spoken by a group of people, there are other salient and unspoken words that carry great importance. For instance some culture frowns at a younger person that present his hand first for a handshake with an elderly person.

•PURCHASING POWER: It is very important that you know the purchasing power of the people that live in the area where you intend establishing your business. There are some kind of businesses that can thrive in places where the people that live there are poor and there are some other businesses that cannot survive such environment.

•ADVERTISING PREFERENCE: Advertising preference is another socio – cultural factors that affects businesses globally. The truth is that the advertising model that may sell in Nigeria, might likely not sell somewhere in the Middle East.

Hence, the wise thing for any business owner to do before putting up advert for his or her business is to understand what appeals to the people that dwell in the community where the business is to be sites and then design their advert to conform to the language of the people.



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