MKT MCQ MKT Chapter 3 The ________ environment consists of factors that affect consumer purchasing power and spending patterns. Show
A) cultural Answer: D Marketing MCQ Marketing Chapter 3 The ________ environment consists of factors that affect consumer purchasing power and spending patterns. A) cultural Answer: D Learn More :
The economic environment consists of economic factors that affect consumer purchasing power and spending patterns. Marketers must pay close attention to major trends and consumer spending patterns both across and within their world markets. More from this Section
What are the environmental factors that affect marketing?To get a better idea of how they affect a firm's marketing activities, let's look at each of the five areas of the external environment.. The Political and Regulatory Environment. ... . The Economic Environment. ... . The Competitive Environment. ... . The Technological Environment. ... . The Social and Cultural Environment. ... . Consumer Behavior.. What is the micro environment?the factors or elements in a firm's immediate environment which affect its performance and decision-making; these elements include the firm's suppliers, competitors, marketing intermediaries, customers and publics.
What are the micro and macro environment factors?The micro environment is specific to a business or the immediate location or sector in which it operates. In contrast, the macro environment refers to broader factors that can affect a business. Examples of these factors include demographic, ecological, political, economic, socio-cultural, and technological factors.
What factor is likely to have the most impact on purchasing power?Prices. The price of goods and services is one of the most important factors influencing the consumer's purchasing power. When the price falls, purchasing power increases, and when prices go up, purchasing power goes down; provided that other factors stay the same.
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Which environment consists of factors that affect consumer purchasing power and spending patterns?
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