7. The interdependent nature of business

• Customer networks depend on each other for customers or referrals.


  True
• Match the type of interdependence with its description:

  Raw Materials Suppliers ↔️ Provide essential materials for production

  Resource Providers ↔️ Supply labor, finance, or technology

  Customer Networks ↔️ Depend on each other for customers
• What is the marketing ecosystem?

  Interconnected marketing network
• Intermediaries facilitate the distribution and sale of products to customers.
• Changes in the marketing ecosystem can significantly impact all its components.


  True
• What is the purpose of the supply chain?

  Production and distribution
• What role do suppliers play in the marketing ecosystem?

  Provide raw materials
• Why is understanding the marketing ecosystem crucial for businesses?

  To reach target markets
• What is the definition of business interdependence?

  Reliance on each other
• Raw materials suppliers provide essential materials for production
• Arrange the main stages of the supply chain in the correct order:

  1️⃣ Raw Materials

  2️⃣ Manufacturing

  3️⃣ Distribution

  4️⃣ Retail
• What is the purpose of the supply chain?

  Production and distribution
• Manufacturing involves transforming raw materials into finished products.
• Competitors in the marketing ecosystem offer similar products or services.


  True
• Arrange the key types of business interdependence in the correct order:

  1️⃣ Raw Materials Suppliers

  2️⃣ Resource Providers

  3️⃣ Customer Networks
• Effective supply chain management ensures cost-effectiveness throughout the production process.


  True
• The marketing ecosystem is an interconnected network of businesses, customers, and other stakeholders involved in the marketing and distribution of products and services
• Changes in one part of the marketing ecosystem can significantly impact other components.


  True
• Match the stakeholder group with their primary interest:

  Shareholders ↔️ Profitability

  Employees ↔️ Job security

  Customers ↔️ Product quality

  Government ↔️ Tax revenue
• What are the interests of shareholders in a business?

  Profitability and dividends
• Globalization refers to the increasing interconnectedness and interdependence of businesses and economies
• What is one challenge businesses face due to globalization?

  Increased competition
• Business interdependence improves supply chain efficiency.


  True
• The supply chain includes all organizations involved in the production and distribution of a product, from raw materials to the final consumer
• Order the stages of the supply chain:

  1️⃣ Raw Materials

  2️⃣ Manufacturing

  3️⃣ Distribution

  4️⃣ Retail
• Effective supply chain management ensures efficiency, responsiveness, and cost-effectiveness
• What are stakeholders in a business?

  Groups with an interest
• What are stakeholders in the context of a business?

  Groups with business interests
• In the automotive marketing ecosystem, suppliers provide raw materials and components
• Effective supply chain management ensures responsiveness and cost-effectiveness.


  True
• Match the supply chain stage with its example:

  Raw Materials ↔️ Mining companies providing iron ore

  Manufacturing ↔️ Steel manufacturers producing steel sheets

  Distribution ↔️ Logistics companies delivering cars

  Retail ↔️ Car dealerships selling vehicles
• Match the component of the marketing ecosystem with its example:

  Suppliers ↔️ Steel suppliers to car manufacturers

  Competitors ↔️ Other car companies

  Customers ↔️ Consumers buying cars

  Intermediaries ↔️ Car dealerships selling vehicles

  Regulators ↔️ Transportation authorities
• Raw materials suppliers provide essential materials for production.
• Match the key component of the marketing ecosystem with its description:

  Suppliers ↔️ Provide raw materials or services

  Competitors ↔️ Offer similar products/services

  Customers ↔️ Purchase products/services

  Intermediaries ↔️ Facilitate distribution and sales

  Regulators ↔️ Set rules and standards
• Successful businesses must continuously monitor and adapt to the dynamics within their marketing ecosystem
• Satisfied customers may lead to increased profits for shareholders.


  True
• Match the impact of globalization with its description:

  Expanded Markets ↔️ Wider customer base

  Increased Competition ↔️ Pressure on prices

  Cultural Differences ↔️ Adaptation to norms
• Globalization has created both opportunities and challenges
• What happens during the manufacturing stage of the supply chain?

  Raw materials transformed
• What is the purpose of the supply chain in a business?

  Deliver final products