Question

MySpace is a social network that is targeted primarily to people under the age of 25 years old. In 2005, when MySpace was the leading social network, News Corp, owner of The Wall Street Journal and Fox News, bought the firm for $580 million. Since then, its membership has declined precipitously due to changing consumer preferences. As a result, News Corp. sold MySpace to a group of investors for a paltry $38 million in mid-2011. This is an example of how __________ forces impact the marketing environment. a. economic. b. competitive. c. social. d. technological. e. regulatory.

Answer 1

Answer:

Option C Social Factor.

Explanation:

Social factors includes the people's changing perceptions and preferences. In this case the customers of social networking was highly oriented towards using MySpace and started using Face-book, thereafter Whats-app was also among their priorities, Insta-gram stepped in and we saw a great market share capture by it. So the people preferences changes with time and this is Social factor (PESTLE Analysis).