Question

Anders is researching sociocultural factors related to his employer, a sporting goods manufacturer.Which of the following would be part of the sociocultural forces in a firm's external environment?1. the interest rates prevalent in an economy2. the laws protecting small enterprises in a nation3. the family size of the firm's target market4. the rate of employee attrition within the firm

Answer 1

Option C

the family size of the firm's target market would be part of the sociocultural forces in a firm's external environment

Explanation:

To achieve and grow, organizations must modify, utilize, and agree with the authorities in their external environments. Sociocultural environmental forces cover opinions, views, customs and traditions, practices, and lifestyles. Social factors involve reference groups, family, position, and status in the community.

Family is a particular reference group and can execute the most crucial role in shaping the purchasing decisions of themselves. Staying aware of and obtaining the major reference groups, persons or family formations in a community and construction marketing on them can improve small businesses achieve victory.