The Sociocultural Sector of an Organization Is Concerned with Issues

question 14

Multiple Choice

The sociocultural sector of an organization is concerned with issues such as:

• A)the impact of the company's products and policies on the environment.
• B)strategies to be undertaken in times of adverse economic conditions.
• C)the working conditions of workers hired by contractors.
• D)trending issues on social media sites.

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Definitions:

Psychological Pricing Tactics

Pricing strategies that aim to influence a customer's perception of the price to make a product more attractive, such as pricing items just below a round number.

Prestige Pricing

Prestige pricing is a pricing strategy where prices are set higher than average to create a perception of exclusivity and high quality, appealing to status-concerned buyers.

Split Advertising

A marketing strategy that involves dividing advertising efforts among different media channels or geographic locations to target specific audiences more effectively.

Effectiveness Of Advertising

The measure of how well advertising campaigns achieve their intended objectives, such as increasing brand awareness or boosting sales.