What Environmental Factors Are Concerned with the Changes in People's

question 139

Multiple Choice

What environmental factors are concerned with the changes in people's values, lifestyles, and family roles?

• A)social factors
• B)economic factors
• C)political factors
• D)demographic factors

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Definitions:

Symbolic Value

Refers to the significance that a product or service holds beyond its functional utility, often derived from its meaning within a culture or context.

Exchange Value

The worth of a good or service determined by what it can be traded or exchanged for in the marketplace.

B2B Markets

Markets where transactions are conducted between businesses rather than between businesses and consumers, involving products or services used in operations.

Buyers Choose

The decision-making process by which consumers select which products or services to purchase, influenced by factors like price, quality, and brand reputation.