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Questions and Answers
What is the primary function of intermediaries in a market?
What is the primary function of intermediaries in a market?
- To provide goods and services to final consumers
- To regulate the market and set prices
- To facilitate exchange between buyers and sellers
- To help companies promote, sell, and distribute their products (correct)
What is the main focus of socio-cultural factors in the macro environment?
What is the main focus of socio-cultural factors in the macro environment?
- Economic indicators such as purchasing power and inflation
- Customs, traditions, values, and beliefs of consumers (correct)
- Technological advancements and innovations
- Government laws and regulations
What is the primary goal of an industry analysis?
What is the primary goal of an industry analysis?
- To analyze the competition and sales trends
- To develop a marketing strategy for a company
- To identify potential markets for a specific product
- To determine the major and minor factors affecting an industry (correct)
What is the definition of a market?
What is the definition of a market?
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Which factor of the macro environment can directly or indirectly affect a company's business?
Which factor of the macro environment can directly or indirectly affect a company's business?
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What does the business environment include?
What does the business environment include?
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What is Environmental Analysis?
What is Environmental Analysis?
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What is the Micro environment of an organization composed of?
What is the Micro environment of an organization composed of?
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What is the primary effect of competitors on an organization?
What is the primary effect of competitors on an organization?
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Who provides inputs to a business?
Who provides inputs to a business?
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