Asked by Keyla Ortiz on Jun 07, 2024
Verified
Companies that engage in global marketing must continually monitor economic and social trends to protect their position within the market and adjust products and marketing strategies to meet the changing needs of global markets.
Economic Trends
The general direction in which an economy is moving, based on statistical measures such as growth rates, inflation, and unemployment.
Social Trends
Patterns of change or stability in societal behaviors, attitudes, and cultural norms over time, which influence various aspects of society such as consumer behavior.
- Assess the influence of global trends on marketing strategies.
Verified Answer
FA
Faizan AslamJun 11, 2024
Final Answer :
True
Explanation :
This statement is true. Global companies must keep up with economic and social trends, and adapt their products and marketing strategies accordingly to remain competitive in global markets.
Learning Objectives
- Assess the influence of global trends on marketing strategies.
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