Multiple Select QuestionSelect all that applyWhat are four external influences in the marketing environment?Multiple select question.CompetitiveEconomicDemographicGeographicLegalSocial
Question
Multiple Select QuestionSelect all that applyWhat are four external influences in the marketing environment?Multiple select question.CompetitiveEconomicDemographicGeographicLegalSocial
Solution
The four external influences in the marketing environment can be:
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Competitive: This refers to the number and types of competitors in the market, their strategies, and their strengths and weaknesses. A company needs to know its competitors to understand its position in the market.
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Economic: This includes factors such as inflation, unemployment, disposable income, and general economic growth. These factors can affect consumer buying power and market demand.
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Demographic: This refers to the characteristics of the population, such as age, gender, occupation, and income. These factors can affect the demand for a company's products or services.
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Geographic: This refers to the physical location of the target market. Factors such as climate, region, and city size can affect consumer needs and wants.
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Legal: This includes laws and regulations that a company must follow. These can affect a company's operations and the products or services it can offer.
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Social: This includes societal trends, values, and norms. These can affect consumer attitudes and behaviors, and therefore the demand for a company's products or services.
So, all the options provided are external influences in the marketing environment.
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