Is the process of collecting information about forces in the marketing environment.

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05-09-2022
Business

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Is the process of collecting information about forces in the marketing environment.

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Tutorconsortium340 Tutorconsortium340 · Answer 1 · 2022-09-09T18:26:04-04:00

Environmental Scanning is the process of collecting information about forces in the marketing environment.

What are market forces?

Market forces are the elements that affect an industry, market, or the overall economy. Supply and demand are the two fundamental factors that influence markets. Prices rise when supply is low and demand is high, whereas prices fall when supply is low and demand is high.

Free markets are guided by market forces, which also set prices for goods and services. As a shareholder, it's possible that you've seen references to market forces and how they impact the stock of a certain firm or the general financial markets.

The "invisible hand" theory, made famous by economist Adam Smith, is a definition of market forces that holds that without government interference, effective markets will naturally strike a balance between supply and demand.

Thus, market forces are to be controlled properly in order to keep the markets running properly.

For more information on market forces, refer to the given link:

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_____________is the process of collecting information about forces in the marketing environment

Sagot :

What are market forces?

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