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Changes in Customer Tastes and Preferences Is a Force in the Specific

question 46

True/False

Changes in customer tastes and preferences is a force in the specific environment that impacts an organization.


Definitions:

Competition

The rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.

Discretionary Income

The amount of an individual's income that is left for spending, investing, or saving after taxes and personal necessities are accounted for.

Alternative Firms

Companies that offer non-traditional or unconventional products, services, or methodologies as compared to mainstream options.

Riparian Owner

An individual or entity that owns land adjoining a river or stream, with certain rights and responsibilities regarding water usage and protection.

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