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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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CONSUMER SOVEREIGNTY The notion that consumers ultimately determine what goods and services are produced and how the economy's limited resources are used based on the purchases they make. Consumers thus reign over the economy as sovereign rulers.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either a package of 3 by 5 index cards, the ones without lines or a blue mechanical pencil. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"It is only our deeds that reveal who we are. " -- Carl Jung, psychiatrist
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SBDC
Small Business Development Center
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