Question

Three Trends Influencing Marketing Channels are:

a) Globalization, Social Media, and Urbanization
b) Traditional Advertising, Local Markets, and Word-of-Mouth
c) Seasonal Promotions, Print Media, and Local Events
d) Product Quality, Price Competitiveness, and Customer Loyalty

Answer 1

The three trends influencing marketing channels - globalization, technology, and social media - have expanded competition and connectedness in the goods and services market, allowing for global trade and more dynamic marketing strategies.

Step-by-step explanation:

Three trends influencing marketing channels are globalisation, technology, and social media. These trends have significant impacts on the way goods and services markets operate and how businesses reach consumers.

Globalization refers to the trend in which buying and selling in markets have increasingly crossed national borders. This has led to a more interconnected global economy, with more firms participating in international trade. With the increased competition, firms are now sellers in a bigger, more competitive goods and services market.

Meanwhile, technology has vastly improved communication, allowing consumers to order products from anywhere in the world, thereby increasing competition among businesses. Additionally, innovations such as social media have revolutionised marketing, allowing brands to directly engage with consumers on a global scale. The emergence of business-to-business websites has facilitated more efficient connections between buyers and suppliers internationally.