An international apparel manufacturer changed its pricing strategy as it entered a new market where recessionary trends are being observed. What factor of the marketing environment led the firm to change its pricing decisions?

Question

Quizplus · Accepted Answer

The economic environment influences consumer purchasing power and spending patterns, especially in a recession where consumers are more price-sensitive. This would lead a company to adjust its pricing strategy to better fit the economic conditions of the new market.

An International Apparel Manufacturer Changed Its Pricing Strategy as It