Social Change Is Perhaps the Most Difficult External Variable for Marketing

question 26

True/False

Social change is perhaps the most difficult external variable for marketing managers to forecast,influence,or integrate into marketing plans.

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Definitions:

Additional Unit

The next unit of product or service that could be produced or acquired.

Decreasing-Cost Industry

An industry in which costs per unit of output decrease as the scale of production increases, often due to factors like improved technologies or economies of scale.

Economic Adjustments

Shifts in economic policies or market conditions that lead to changes in allocation of resources, production, and pricing.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and firms make no economic profit or loss over time.