BUISENESS MANAGEMENT
MARKETING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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External
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Internal
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Either A or B
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None of the above
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Detailed explanation-1: -The external factors include government, technological, economical, social, and competitive forces; whereas, organization’s strengths, weaknesses, and competencies form the part of internal factors. Marketers try to predict the changes, which might take place in future, by monitoring the marketing environment.
Detailed explanation-2: -As we mentioned above, a marketing environment is typically broken into internal and external factors. Internal factors are in-house aspects under an organization’s control. External environmental factors are outside of a business’s control but can and do affect how a business functions.
Detailed explanation-3: -Definition. The internal factors refer to anything within the company and under the control of the company no matter whether they are tangible or intangible. These factors after being figured out are grouped into the strengths and weaknesses of the company.
Detailed explanation-4: -Internal influences include: desires, likes, dislikes, personal values, and perceptions of social norms. External influences include: community members, family, culture and traditions, friends, technology, and the media.