Defines as five forces affecting competitive strategy

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1. External factors that Michael Porter defines as five forces affecting competitive strategy, which also impact marketing decisions, include ________.

A) industry competition, industry collaborators, industry partners, customers, and suppliers

B) competition, threat of new entrants, suppliers, customers, buyers, and threat of substitute products and services

C) Legislation, rules, competition, buyers, suppliers, and customers

2. ________ are the most important actors in the company’s micro-environment because they hold the most influence over the entire marketing mix.

A) Customers

B) Suppliers

C) The public

D) Lawmakers

3. The single-most important demographic characteristic of the U.S population, at about 321 million, affecting the marketing mix is ________.

A) the collapse of Generation Z

B) rising birthrates

C) the changing age structure of the population

D) shorter life expectancies

Reference no: EM132166618

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