Consider the following statement: “The lost jobs and foreclosed homes

QUESTION

Consider the following statement: “The lost jobs and foreclosed homes of the recent recession had a great negative effect on retail sales.” There are seven outside forces that can influence the success of marketing programs.

Which one does the above statement describe?
A) political forces
B) global forces
C) sociocultural forces
D) economic forces
E) competitive forces

ANSWER

Answer: D
Explanation: D) Economic forces—recessions, inflation, and the like—certainly affect consumers’ buying power and willingness to buy. Example: The recent Great Recession, with its vanished jobs, foreclosed homes, and destroyed savings, had a tremendous impact on retail sales.