MNM1503 ASSIGNMENT 02

MNM1503 ASSIGNMENT 02 QUESTION 1 The market environment refers to those elements that are influenced by the organisation b*ut which cannot be controlled by the organisation. Which of the following forces outside the business refers to the market environment? 1. Consumers, suppliers and competitors. 2. Consumers, economic environment and international environment. 3. Suppliers, socio-cultural environment and consumers. 4. Physical environment, suppliers and consumers. QUESTION 2 Which of the following will be the best fit for i and ii? A SWOT analysis is a useful instrument for managers to identify internal (i) ... and weaknesses of a business and external (ii) ... and threat facing it. 1. Opportunities and strengths 2. Strengths and opportunities 3. Services and opportunities 4. Strengths and obstructions QUESTION 3 Which ONE of the following BEST indicates the importance of environmental scanning? 1. It helps to understand the business’ image and branding purpose. 2. It helps the business to identify its profitability and the inventory systems used by its competitors. 3. It provides an early signal of weaknesses and problems which can be sorted out before it is too late. 4. Employees should use the data received from the analysis to identify products that needs to be eliminated. QUESTION 4 A customer’s buying decision is influenced by individual and group factors. The study of these factors and the process of satisfying needs are called? 1. Buying decision pro