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ECONOMIC FORCES: Forces in the marketing environment that include decisions made by consumers and business organizations. The economy tends to follow business cycles of prosperity, recession, depression, and recovery--all which impact decisions made by an organization. It is critical for a business to correctly assess the current and near term trends in the business cycle. Incorrect decisions of inventory buildup, expansion, contraction, etc. can seriously impact a firm's market position and subsequent survivability.
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COMPETITION In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"The truth of the matter is that you always know the right thing to do. The hard part is doing it." -- Norman Schwarzkopf, US Army general
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