Macro environment
Inflation and Deflation includes in Economic forces?
True or False
True
Give at least 2 elements of culture
. Language
b. Manners and Customs
c. Technology and Material Culture
d. Social Institutions
e. Education
f. Aesthetics
g. Religion
The devaluation of money by reducing what it can buy
through continued price increases.
Inflation
The ______ as a booking engine has created many opportunities, but it has also made interactions with intermediaries more complex.
Internet
Core beliefs and values are passed on from generation to generation and are reinforced by schools, churches, business, and government.
cforcesultural
Aesthetics meaning
attitude toward beauty, art, music etc.
work closely with top management and the
various company departments.
a. Finance department
b.Top management
c. Marketing managers
c. Marketing Managers
The target market of the company is usually of the five types:
Customers
Factors influencing consumer buying power and strategies (stage of the business cycle, inflation, unemployment, resources, income etc.)
Economic forces
Natural Environment Trends
➢ Shortage of raw materials
-Limited quantities of non-renewable resources.
These are firms/business houses and individuals who provides resources needed by the company to produce goods and services.
a. company
b. suppliers
c. products
d. natural
b. suppliers
Type of customers like organizations buying goods and services with a view to sell them to other (retail stores)
Reseller market
the study of human populations in terms of size, location, age, gender, race, occupation, and other statistics.
demographic
reducing consumer demand for a good or service to a level that the firm can supply
a. Marketing
b. Demarketing
b. Demarketing
________sets the company mission, broad strategies, objectives, and policies.
Top management
Enumerate the types of customers
Consumer market
Individual market
Reseller market
Government and non-seller market
International market
Give the meaning of discretionary income
Discretionary Income: the amount of money people have spend after paying bills and necessities.
Enumerate the 6 forces of Macro Environment
Economic, cultural, political, natural, demographic,
technological
It helps promote, sell, and distribute its goods to the final buyers/customers.
a. Internet
b. Intermediaries
c. suppliers
b. Intermediaries
No company stands alone in serving and satisfying the needs of a customer. It will always face competition means in business an entrepreneur must considered the presence of ________.
Competitors