Final answer:
The scope of external marketing relationships has broadened to include not only customers but also suppliers and referral sources, driven by technological advances and globalization. These changes foster competition and necessitate comprehensive marketing strategies, while also considering the concept of externalities or spillovers in market exchanges.
Step-by-step explanation:
The question discusses how marketing relationships have expanded their scope to include not just customers, but also suppliers and referral sources, highlighting how technology and globalization have reshaped markets. In essence, the rise of communication technologies like the internet has enabled consumers and businesses to engage in commerce on a global scale, making business-to-business (B2B) websites critical platforms for international trade. With the ability to order products or services from anywhere around the globe, competition has heightened for local retailers and suppliers alike, emphasizing the importance of having wide-reaching marketing strategies.
A related concept is that of externality, which refers to the impact that a market exchange can have on a third party that is not directly involved in the transaction, also referred to as a spillover. This explains the incidental effects that a business's operations may have on individuals or entities that are external to the business dealings themselves.