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Solved in 3 steps
- Take into consideration the macroenvironment factors that drive the way you do business today. How will these factors change in the future? What other major trends could affect marketing?How might you apply consumer market to business-to-business settings?How do changing consumer preferences and societal trends impact businesses, and how can companies effectively respond to these shifts to remain competitive and relevant in the market?
- How do social and cultural factors impact the business environment, and what strategies can businesses adopt to cater to diverse customer preferences and values?What is meant by the economic environment?Define and discuss the different processes that occur in consumer markets and business markets. Explicate how long-term relationships can be created in the different markets.