Factors in the General Environment Can Have Different Effects Depending

question 21

Essay

Factors in the general environment can have different effects depending on the industry type. Give two examples.

Understand the importance and application of focusing on existing customers in growth strategies.

Differentiate between growth strategies based on target markets and product offerings.

Understand the core concept of marketing as a process of creating value and establishing relationships.

Recognize the importance of consumer needs and wants in the marketing process.

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Definitions:

Cultural Backgrounds

Encompasses the beliefs, norms, values, and practices shared by a group of people, influenced by their ethnicity, religion, and societal values.

Self-Disclosure

the act of sharing personal or private information about oneself with others.

Optimum Size

The most efficient, effective, or desirable size for a particular purpose or situation.

Close Relationships

Deeply connected personal associations with significant others, characterized by affection, trust, and mutual support.