The Forces That Make Up the External Marketing Environment of a Firm

question 123

Multiple Choice

The forces that make up the external marketing environment of a firm

• A) have little effect on internal operations.
• B) can be controlled to the firm's advantage.
• C) result from the operations of the firm.
• D) are generally beyond the firm's control.
• E) include price, promotion, distribution, and product.

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Definitions:

Law Of Demand

The negative relationship between price and quantity demanded: Ceteris paribus, as price rises, quantity demanded decreases; as price falls, quantity demanded increases.

Prices Fall

A scenario in which the market prices of goods or services decrease, often due to increased supply or reduced demand.

Law Of Demand

The economic principle stating that, all else being equal, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a specific price level.