The external market environment is shaped by these four areas: economics, technology, politics/law, and culture/society.
Answer the following statement true (T) or false (F)
True
The external market environment includes four major areas: economic environment, technological environment, political/legal environment, and cultural/social environment.
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Zach is part of a team that does not have a designated manager; the team plans, organizes, leads, and controls to achieve its goal. Zach’s team members commonly elect their own members and evaluate each other. On what type of team is Zach most likely working?
a. independent b. self-managed c. integrated d. workgroup
A characteristic of direct mail is _____
a. a long lead time b. a targeted audience c. low flexibility d. good editorial content
Which stage of the new-product development process is usually the most expensive for new products?
A. idea screening B. product development C. product launch D. test marketing E. business analysis
The traditional marketing strategy of selling umbrellas when it is raining is an example of how ________ factors influence consumers' decisions.
A. situational B. shopping C. economic D. interpersonal E. psychological