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Marketing Environment Factors Quiz

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Questions and Answers

What does the microenvironment refer to?

Factors that influence a company's relationships with the environment

Elements close to a company that affect the company itself, suppliers, marketing intermediaries, competitors, publics, and customers (correct)

Groups or organizations with an interest in the company's affairs

Societal forces that indirectly affect the company

Which of the following is considered part of a company's microenvironment?

Global economic trends

Technological advancements

Marketing intermediaries (correct)

Government regulations

Why is it important to share marketing research with marketing intermediaries?

To minimize profits

To reduce competition

To increase costs

To maximize profits (correct)

What is the purpose of understanding who the main purchasers of a company's products are?

To identify key markets Signup and view all the answers

Which of the following is NOT part of a company's microenvironment?

Economic trends Signup and view all the answers

Who are the competitors in a company's microenvironment?

Companies offering similar market offerings Signup and view all the answers

What does the demographic aspect refer to?

Characteristics like age, race, gender, and family structure Signup and view all the answers

Which aspect mainly focuses on consumer purchasing power and spending habits?

Economic Signup and view all the answers

What major issue is associated with the natural aspect?

Increased pollution Signup and view all the answers

Which factor can threaten to leave a company behind or provide an opportunity for it?

Advancements in technology Signup and view all the answers

What does the political aspect mainly include?

Business regulations and societal ethics Signup and view all the answers

Which approach is advised for firms to take regarding micro and macroenvironmental changes?

Proactive approach Signup and view all the answers