ENTREPRENEURIAL PLANNING
MARKETING PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an example of an economic factor in international marketing?
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The political climate
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The level of competition
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The level of technological development
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The level of inflation
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Explanation:
Detailed explanation-1: -Economic Factors Factors include – economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses and so on. These factors can be further broken down into macro-economical and micro-economical factors.
Detailed explanation-2: -Economic factors include economic growth, percentage of unemployment, inflation, interest and exchange rates, and commodity (oil, steel, gold, etc) prices.
Detailed explanation-3: -Example: if petrol prices increase much more than the prices of other goods and services, people who use a car frequently may “feel” a rate of inflation that exceeds the HICP because their personal expenditure on petrol is higher than average.
There is 1 question to complete.