Marketing Environment: External Influences on Marketing Strategy


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question 1 of 3

Evaluate the six external influences on a company's marketing strategy.

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1. What should a company consider when finding a location for their business?

2. A plan developed by an organization that consists of the company's product/service mix and how that product/service will be offered to consumers is referred to as a _____.

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About This Quiz & Worksheet

Both the quiz and worksheet will explore your knowledge of the external influences on marketing strategy. You will need to define various terms related to marketing strategy. You will also need to analyze certain scenarios for their marketing implications.

Quiz & Worksheet Goals

You will review:

  • The six external influences on a company's strategy
  • Key factors when finding a business location
  • The definition of a marketing strategy
  • Where a business selling toys should open
  • Influences on a company's marketing strategy

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Interpreting information - verify you can read information regarding the key factors when finding a business location and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about demographics and lifestyles
  • Reading comprehension - ensure that you draw the most important information from the related lesson about the different external influences on marketing strategy

Additional Learning

Make sure to also read the related lesson. The lesson is called Marketing Environment: External Influences on Marketing Strategy. This lesson will help you:

  • Understand what a marketing strategy is
  • Explain why a business must adapt to its environment
  • Identify the six external influences on any company
  • Describe what each of the influences entail
  • Appreciate how compensating for each area can benefit the company