The Uncontrollable Forces in a Marketing Decision Involving Social, Economic

question 132

Multiple Choice

The uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces are referred to as

• A) the Five Fs of marketing.
• B) environmental forces.
• C) business conditions.
• D) a marketing ecosystem.
• E) the business sphere.

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Definitions:

National Strategy

A comprehensive plan designed to achieve specific goals on a country-wide scale.

Dominant Strategy

In game theory, a strategy that is best for a player, irrespective of what strategies other players choose.

Payoff Matrices

A table that shows the potential outcomes of different strategies in a game, used in decision theory and economics.

Repeated Game

A strategic game played multiple times by the same participants, where the outcome of one play can affect the strategies in subsequent plays.