Question

According to the video, China had little internet access prior to 1999 and most Chinese consumers purchased products face to face from small local vendors. Alibaba had to overcome centuries of tradition of face-to-face transactions in order to get Chinese consumers to learn to trust the idea of buying online. To which of the following environmental factors does this best relate? a.Ethical and social responsibility b.Economic c.Political, legal, and regulatory d.Competitive e.Sociocultural

Answer 1

E.

Step-by-step explanation:

Environmental Factors:

-Socio-cultural Factor

-Economical Factor

-Demographical Factor

-Technological Factor

The term "socio-cultural environment" describe the beliefs, values, attitudes, opinions, and lifestyles of persons in the firm’s external environment as developed from cultural, demographic, religious, educational and ethnic conditioning.

Examples: Lifestyle changes, career expectations, age distribution, regional shifts in population, birth rates, life expectancies, growth rate in population, consumer activism, rate of family formation.

Is used in business or marketing to describe an environment composed of values and behaviours. These elements decide, to a large extent, “what the people will consume and how they will buy”. A socio-cultural environment is a population, and it is described with special attention paid to social and cultural factors.