The Environment and Market Flashcards
1
Q
It is the internal and external factors that surround an organization.
A
Marketing Environment
2
Q
It consists of manpower, money, machinery, materials, and minutes (5Ms)
A
Internal Environment
3
Q
This environment includes macro environment and the micro environment.
A
External Environment
4
Q
It consists of political and legal influences; economic, social, demographic, and technological forces, environmental impact.
A
Macro Environment
5
Q
It consists of employees, competitors, consumers, stakeholders, general public, and suppliers.
They are the partners in promoting sustainability of the business.
A
Micro Environment
6
Q
Refers to a product that is consumable or has limitations.
A
Consumption
7
Q
Refers to the product that can be inventoried or counted.
A
Tangibility
