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Government, consumer groups, business press and financial analysts are part of:
1. influence markets
2. supplier markets
3. referral markets
4. customer markets

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Correct Answer - Option 1 : influence markets

Government, consumer groups, business press, and financial analysts are part of influence markets.

Influence Markets:

The major players of a market are referred to as the influence market. Those factors that pose an important part in every market are known as the influence market. Major participants of the market are:

  1. Government- 
    • Governments have the capacity to make broad changes to monetary and fiscal policy, including raising or lowering interest rates, which has a huge impact on business.
    • They can boost the currency, which temporarily lifts corporate profits and share prices, but ultimately lowers values and spikes interest rates.
    • Governments can intervene when companies or entire segments of the economy are failing, or threatening to undermine the whole economic system, by providing bailouts.
    • Governments can create subsidies, taxing the public and giving the money to an industry, or tariffs, adding taxes to foreign products to lift prices and make domestic products more appealing.
    • Higher taxes, fees, and greater regulations can stymie businesses or entire industries.
  2. Consumer Groups-
    • Each consumer in society is a member of different groups depending on their culture, various subcultures, or even social class can influence their consumer purchase.
    • A group can be formed when two or more individuals share a set of norms and beliefs. A group becomes a reference group when an individual recognizes with the group and takes on many of the values, attitudes, or personal standards of group members and use them as the basis of his/her day-to-day behavior.
    • A consumer group is defined as having significant relevance upon an ‘individual’s evaluations, aspirations, or behavior influencing the consumer. The nature of reference group influence can take three forms, this is because some groups and individuals are able to influence greater than others and affect a range of consumption 
  3. Business Press- 
    • The business press refers to social media's impact on the business. The fact that the press has both positive and negative impacts on consumers has to be dealt with very specific. If the media gives any negative impact, the business can face significantly. It helps in attracting customers to the business as customers continuously view the business activities. The business press can thus prove to be a major force on the organization.
  4. Financial Analyst-
    • A financial analyst helps in the development of ideas and policies by screening the environment. The main purpose of an analyst is to gather and collect relevant information for analyzing them and taking accurate decisions. The financial analyst is one of the key players in the firm. Essential job duties include creating surveys, determining consumer preferences, evaluating feedback, generating reports, detecting profitable markets, and proposing solutions to increase profit.

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