_____ Is the Process in Which a Firm Continuously Collects

question 115

Multiple Choice

_____ is the process in which a firm continuously collects and evaluates information about its external environment.

• A)Marketing research
• B)Secondary data collection
• C)Environmental scanning
• D)External monitoring
• E)Relationship marketing

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Definitions:

Medium Of Exchange

An instrument or system that facilitates the sale, purchase, or trade of goods between parties.

Universally Acceptable

Qualities or standards that are widely recognized and endorsed across different cultures, societies, or groups.

Absolute Advantage

A condition in which a country, individual, or company can produce a specific good at a lower cost in resources than another.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.