BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Full control over
|
|
|
No control over
|
|
|
No control but can influence
|
|
|
Little control
|
Detailed explanation-1: -The marketing environment is made up of the internal and external environment of the business. While the internal environment can be controlled, the business has less or no control over the external environment.
Detailed explanation-2: -The macro environment consists of general factors that a business typically has no control over.
Detailed explanation-3: -Affects Demand-The marketing environment of a business affects its demand. Based on external factors such as a market’s social and economic factors, the demand for certain items can be high or low. Therefore, understanding these factors will help the business make decisions on its production.
Detailed explanation-4: -There are six critical environmental marketing factors. These comprise the socio-cultural, legal, economic, political, and technological factors.