Write a note on the economic factors that influence the external business environment
What will be an ideal response?
ANSWER: One of the major factors in the external environment facing the global marketer is the level of economic development in the countries where it operates. In general, complex and sophisticated industries are found in developed countries, and more basic industries are found in less developed countries. Larger incomes mean greater purchasing power and demand, not only for consumer goods and services, but also for the machinery and workers required to produce consumer goods.
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In acceptance sampling, the proportion defective that the buyer will allow in an incoming shipment is:
A) the acceptable random sample (ARS). B) the upper control limit (UCL). C) the lower control limit (LCL). D) the acceptable quality level (AQL).
The three C's refer to
A) conditions under which credit will be extended B) customer service policies C) general business policies D) return and rework policies