Management Has No Direct Control Over the External Environment of the Firm

question 62

Multiple Choice

Management has no direct control over the external environment of the firm but can exert influence by

• A)heavy promotion of new products to change cultural attitudes.
• B)focus on the strategic plan.
• C)lobbying.
• D)factors of production.
• E)lobbying for a change in a law and heavily promoting a new product to change cultural attitude.

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Definitions:

Credibility

The quality of being trusted and believed in based on a record of integrity and reliability.

Jargon

Specialized language used by a particular group or profession that may be difficult for outsiders to understand.

Objective Evidence

Information that is factual, measurable, and observable, thus free from personal feelings or subjective interpretation.

AIDA Model

A marketing acronym that stands for Attention, Interest, Desire, and Action; a model used to describe the steps a customer goes through in the process of purchasing a product or service.