Asked by Inusah Seidu on Jun 18, 2024
Verified
The ________ environment consists of factors that affect consumer purchase ability and buying behavior.
A) social
B) political
C) economic
D) technological
Economic Environment
The economic factors that impact the operation and performance of businesses, including inflation, interest rates, economic growth, and unemployment rates.
- Know the key environmental factors that influence consumer purchase ability and behavior.
Verified Answer
AH
Abbas HaidarJun 21, 2024
Final Answer :
C
Explanation :
The economic environment includes factors such as inflation, employment rates, income, and overall financial stability, which impact consumers' ability to purchase goods and services and influence their buying behavior. The social environment includes factors such as culture, demographics, and social values, while the political environment includes government regulations and policies that affect businesses and consumers. The technological environment refers to innovations and advancements that impact marketing and advertising strategies, distribution channels, and consumer behavior.
Learning Objectives
- Know the key environmental factors that influence consumer purchase ability and behavior.
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