Home › BBA Marketing › Marketing › Creating Products and Pricing Strategies › Changing incomes, unemployment levels, inflation…
Changing incomes, unemployment levels, inflation and recession belong to which category of environmental data?
AThey are political and legal forces
BThey are economic forces at work
CThey are technological forces
DThey are competitive forces
Answer & Solution
Correct answer: B. They are economic forces at work
1. Economic forces cover changing incomes, unemployment levels, inflation and recession.
2. All four items listed in the question are measures of how the economy is performing.
3. Political and legal forces instead cover changes in laws, regulators and political movements.
4. Technological forces cover advances in telecommunications and computing.
5. Competitive forces cover new and shifting competition from domestic and foreign firms.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.2 Creating a Marketing Strategy_
Related questions
Big data and analytics are used to provide consumers with which two things?Big data refers to which of the following?Database marketing is sometimes given which other name?What does the information in a marketing database help managers do?One-to-one marketing means creating what?What are shopbots?How does online technology help sellers rather than buyers?What effect has the internet had on pricing power?