Since the Increase in the Unemployment Level in a Small

question 194

Multiple Choice

Since the increase in the unemployment level in a small Atlantic Canadian town, retailers have noticed that sales have decreased. The retailers are being affected by which element of the external environment?

• A) Socio-cultural
• B) Economic
• C) Environmental
• D) Global
• E) Political-legal

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Definitions:

Consumer Views

Opinions or attitudes held by consumers regarding products, services, or brands, often influencing their purchasing decisions.

Retailer's Image

The public perception of a retail store, shaped by its branding, customer service, product selection, and overall shopping experience.

Opportunistic Buying

Acquiring products or services under favorable circumstances, often at reduced prices, due to special situations rather than planned purchasing.

Retailer

A business or person that sells goods to the consumer, as opposed to a wholesaler or supplier, who normally sell their goods to another business.