One Component of the External Environment That Marketing Managers Must

question 72

Essay

One component of the external environment that marketing managers must understand and react to is the economic environment.Briefly describe the four economic areas of greatest concern to Canadian marketers and the marketing implications of trends in these four areas.

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Definitions:

Last Mile

The final stage of the delivery process where a product moves from a transportation hub or warehouse to its final delivery destination, often considered the most expensive and time-consuming part of the shipping process.

Transportation Management

The planning, execution, and control of the movement of goods in order to efficiently meet customer requirements and company objectives.

Place Utilities

The value added to products by having them available at a location where customers want to purchase them.

Time Utilities

The value added to products or services by making them available at the most beneficial time.