In Terms of Marketing Strategy,an Innovation Is Defined by ________

question 14

Multiple Choice

In terms of marketing strategy,an innovation is defined by ________.

• A) disruptions in consumer price points
• B) changes in consumption patterns
• C) technological advancements
• D) shifts in market segments

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Definitions:

External Environment

The outside forces and factors that affect an organization's performance and strategies, including economic, technological, sociocultural, and political/legal elements.

Scanning

The act of systematically exploring various environments and sources for information, often to identify trends, opportunities, and threats.

Competitive Intelligence

A formal approach to obtain information about competitors.

North American Free Trade Agreement (NAFTA)

A treaty entered into by the United States, Canada, and Mexico; it was designed to remove tariff barriers between the three countries.