The environmental factors or forces include competitive, economic, political, le

Question

The environmental factors or forces include competitive, economic, political, legal, regulatory, technological, and socio-cultural forces. Identify the factor most associated with each of the following statements below. There is only one correct answer for each statement; some factors may be used more than once and some factors may not be used at all.

________________________________________ 1.   Prosperity

________________________________________ 2.   Federal Trade Commission

________________________________________ 3.   Personal computers that understand

                                                                                      human speech

________________________________________ 4.   Development and widespread use

                                                                                      of cellular phones

________________________________________ 5.   People’s willingness to spend

________________________________________ 6.   Contributions to campaign funds

________________________________________ 7.   A society’s high material standard

                                                                                      of living

________________________________________ 8.   Sherman Antitrust Act

________________________________________ 9.   Better Business Bureau

________________________________________ 10. Consumerism

Explanation / Answer

1. Prosperity - Economic Factor - If the country is economically strong, then the citizens of the country will prosper and there is no question of unemployment or poverty.

2. Federal Trade Commission - Competitive - The mission of Federal Trade commission is to eliminate unhealthy competition and provide the protection to the consumers.

3. Personal computers that understand human speech - Technological - This can be driven through technology where computers act according to the human speech.

4. Development and widespread use of cellular phones - Technological - This also is driven throught he technological factor

5. People’s willingness to spend - Economic - The economic factor defines the people's willingness to spend

6. Contribution to campaign funds - Political - The political factor drives the contribution toward the campaign funds.

7. A society's high material standard of living - Economic - A society's high material standard of living is defined by the economic factor of the nation.

8. Sherman Antitrust Act - Legal - The legal framework or factor defines this Act.

9. Better Business Bureau - Competitive - The competitive factor defines the better business bureau. This is because the business communities are governed by the competitive forces.

10. Consumerism - Socio -cultural forces - The socio cultural forces play a major role in defining the consumer buying behavior.

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