Which of the Following Is Part of the Microenvironment of a Firm's

question 21

Multiple Choice

Which of the following is part of the microenvironment of a firm's marketing environment?

• A) the political state of the country in which the firm exists
• B) the cultural forces that exist in a society
• C) the suppliers who work with the company
• D) the technological resources available to the company
• E) the different demographic trends in the market

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Definitions:

Global Segmentation

The practice of dividing a worldwide market into smaller segments of consumers who share similar needs, characteristics, or behaviors.

Financial Savings

Refers to the portion of disposable income not spent on current expenditures or consumed, often set aside for emergencies, future purchases, or investments.

Local Customs

The traditional practices and norms specific to a particular community, region, or culture, often influencing consumer behavior and expectations.

Psychographic Segmentation

The process of dividing a market into segments based on consumers' personality traits, values, attitudes, interests, or lifestyles.