The Factors of an External Marketing Environment Include the Following

question 47

Multiple Choice

The factors of an external marketing environment include the following except

• A)competition
• B)technology
• C)economy
• D)nonprofit agencies

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Definitions:

Absorption Approach

A framework in economics or international finance often referring to the way a country's economy can "absorb" changes in exchange rates or balance of payments without impacting the real economy.

Anticipated Markup

The expected percentage added to the cost of goods to calculate the selling price, aiming for profit.

Elastic Demand

A situation where demand for a product or service significantly changes in response to changes in price.

Inelastic Demand

A situation where the demand for a product or service does not significantly change in response to price changes, indicating consumers' strong need or preference for the product.