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

Analyze the impact of trade balances on national economies.

Discuss the role and criticisms of major international trade organizations.

Understand the dynamics and challenges of globalization.

Know the composition and changes within the European Union.

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Definitions:

Need-satisfaction Presentation

A sales technique where the salesperson focuses on identifying and meeting the needs of the customer as a way to persuade them to purchase a product or service.

Objections

Concerns or questions raised by a potential customer that a salesperson must address to complete a sale.

Customer Solutions

Tailored combinations of products and services offered by companies to meet the specific needs of their customers, often used to differentiate offerings in competitive markets.

Business Needs

Requirements that are essential for a company to stay competitive, efficient, and profitable.