MKTG 345 Chapter 3 concepts

Which of these would be uncovered during an environmental scan? a.) The popularity of brand advocates b.) Ideas for revising a code of ethics c.) Evidence of economic espionage d.) A sales forecast for a new product

A

Which of the following are among the goals of environmental scanning? a.) Interpreting and identifying trends b.) Implementing "green" activities internally c.) Focus solely on sales and promotion d.) Continually acquiring information on external events

A & D

Oligopoly

A few companies control the majority of industry sales

Monopoly

A single seller of a product exist

Which two of the following are macroeconomic factors? gross domestic product inflation gross income discretionary income

GDP & inflation

Which of the following are the concepts of social responsibility? Societal responsibility Profit responsibility Altruistic responsibility Stakeholder responsibility

Stakeholder Responsibility Societal Responsibility Profit Responsibility

________ technology is likely to become prevalents in cars and delivery drones, as well as in robots for the home and office. Social Green Automation Personal

automation

To do a thorough environmental scan, a marketer must consider both current and potential ________ in designing a marketing strategy. promotions competitors products tactics

competitors

The right to safe products and to be informed by businesses that sell them are part of the ____________ Bill of Rights enacted in 1962 by President John F. Kennedy. (one word)

consumer

________ is a movement to increase the influence, power, and rights of consumers in dealing with institutions. Consumerism The Consumer Product Safety Commission Consumer behavior The Consumer Protocol

consumerism

Which of the following environmental forces most directly impacts the marketspace? Competitive Economic Regulatory Technological

technological

Which of the following environmental forces is most likely to result in replacement of existing products or companies? Regulatory Economic Technology Competitive

technology

Which of the following environmental forces refers to inventions or innovations from applied science or engineering research? Regulatory Technology Economic Competitive

technology

A(n) ___________________ of ethics is a formal statement of ethical principles and rules of conduct. (one word)

code

______________________ development involves conducting business in a way that protects the natural environment while making economic

sustainable

Social forces include _________ characteristics of the population and its culture. a.) technology b.) demographic c.) competitive d.) regulatory

B.) demographic

Which of the following are true of a code of ethics? It is typically sufficient to ensure ethical behavior, since it is in writing. It often covers problems like contributions to government officials and conflicts of interest. It can be improved by providing greater specificity, taking the burden of judgment off employees. It is a formal statement of ethical principles and rules of conduct.

It often covers problems like contributions to government officials and conflicts of interest. It can be improved by providing greater specificity, taking the burden of judgment off employees. It is a formal statement of ethical principles and rules of conduct.

Which of the following statements about regulation as an environmental force is true? It often places restrictions on the activities of businesses. There is no alternative to it, if the consumer is to be protected. It typically results in lowering competition. It has had little to no impact on businesses' intellectual property.

It often places restrictions on the activities of businesses.

Which two of the following are the broad categories that should be considered when analyzing the economic component in an environmental scan? Exchange rates Political environment Macroeconomic conditions Consumer income

MACROeconomic conditions consumer income

Consumer income is a ________ trend that is important to marketers. non-economic dual-economic microeconomic macroeconomic

MICROeconomics

pure competition

Many sellers offering similar products in a marketplace in which they have little control of marketing elements

monopolistic competition

Many sellers offering substitutable products within a price range

Which two of the following laws forbid monopolies or other actions that cause restraint in trade? The Copyright Act The Anti-Monopoly Law The Sherman Antitrust Act The Clayton Act

The Sherman Antitrust Act The Clayton Act

consumerism

a movement to increase the power and rights of consumers in dealing with institutions

Culture is defined as a learned and shared set of which of these? a.) Values b.) Attitudes c.) Ideas d.) Technology

a.) Values b.) Attitudes c.) Ideas

self-regulation

an alternative to government control in which industry attempts to police itself

________ development involves conducting business in a way that protects the natural environment while making economic progress. Sustainable social green environmental

sustainable

Technology is causing a change in the customer assessment of value because its cost is plummeting, resulting in -consumers focusing instead on quality, service, and relationships with the retailer. -consumers feeling cheated when new versions of technology products are available too soon. -less free hardware or software offered to consumers, despite contracts. -recessionary cycles becoming more frequent and dramatic.

consumers focusing instead on quality, service, and relationships with the retailer

Demographics is a description of selected _________ of a population. a.) needs b.) people c.) business structures d.) characteristics

d.) characteristics

Describing a population with characteristics like age, gender, ethnicity, and income is referred to as environmental classification. cohorts. social force analysis. demographics.

demographics

The performance of the __________ can be measured using the GDP, the rate of unemployment, or price changes. government agency marketing manager economy business firm

economy

Which component of an environmental scan pertains to the income, expenditures, and resources affecting the cost of running a business or household? Economy Competitive Finance Industry

economy

The popularity of brand advocates, the increasing use of virtual and augmented reality, and the growing scrutiny over use of consumer data are examples of _______ forces. (One word) persuasive corporate ethical environmental

environmental

The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called multicultural marketing. movement analysis. environmental scanning. demographic shifts.

environmental scanning

___________________ are the moral principles and values that govern the actions and decisions of an individual or group.(one word)

ethics

______________________ serve as guidelines on how to act rightly and justly when faced with moral dilemmas. (One word)

ethics

Culture incorporates the set of values, ideas, and attitudes that are ________ and shared among the members of a group. written unidentifiable learned flexible

learned

An example of social responsibility is a firm that lessens the negative impact it has on the environment. has a negative impact on its suppliers. increases its business operations. decreases its customer benefits.

lessens the negative impact it has on the environment

______________________is an information- and communication-based electronic exchange environment occupied by sophisticated computer and telecommunication technologies and digital offerings.

marketspace

The form of competition in which many companies compete with substitutable products within a price range and marketing tactics like coupons are effective is known as monopolistic competition. pure competition. a pure monopoly. an oligopoly.

monopolistic competition

Which two of the following are personal moral philosophies that have the most direct bearing on marketing practice? Moral idealism Hedonism Normative ethics Utilitarianism

moral idealism utilitarianism

Moral idealism and utilitarianism are two prominent personal ________ that are important in marketing. relationship-building techniques moral philosophies promotion strategies responsibility goals

moral philosophies

What is considered a human rights abuse by an American company may be viewed as an acceptable business practice in China, which illustrates that the United States is often overly critical of foreign business practices. the United States has more highly evolved ethical practice. better ethics comes with increased standard of living. moral standards are relative to particular societies.

moral standards are relative to particular societies

Social responsibility means that organizations are required to put customers and their needs ahead of profitability concerns. capable of developing and implementing social interaction strategies and should make this a priority. responsible for affecting positive and permanent cultural change. part of a society and accountable to it for their actions.

part of a society and accountable to it for their actions

Sustainable development involves conducting business in a way that ties a firm's profits to its charitable contributions. protects the natural environment while making economic progress. allows employees to continue to grow and learn over the course of their careers. allows businesses to meet their growth targets in a regular and predictable fashion.

protects the natural environment while making economic progress.

To get a comprehensive look at your competition, you should consider firms that provide a product indistinguishable from yours. provide a product that satisfies the same specific need as yours does. are known by the consumer to provide desirable products. are known by the consumer to offer low prices.

provide a product that satisfies the same specific need as yours does.

The Better Business Bureau is an example of self-_________. reliance regulation administration introspection

regulation

An environmental scan will include ______________ forces impacting a business by way of state and federal laws that may restrict its activities. (one word)

regulatory

Because culture is a socializing force that dictates what is morally right, moral standards are uniform across both time and place. relative to particular societies. completely fluid over time. nearly uniform among all societies.

relative to particular societies.

In the United States, the majority of new jobs are generated by _______ businesses. foreign large nonprofit small

small

The majority of the competitive landscape in this country is made up of foreign-owned firms. small businesses. nonprofit organizations. U.S. multinational corporations.

small businesses

Demographic characteristics and the culture of a population are the basis for ________ forces. competitive regulatory social economic

social

Profit responsibility, stakeholder responsibility, and societal responsibility are the three concepts of social responsibility. a social audit. business ethics. personal moral philosophy.

social responsibility

The right to be informed and the right to choose, as both pertain to the exchange process in marketing, are part of the Consumer Bill of Rights. the Telephone Consumer Protection Act. the AMA Code of Ethics. the Foreign Corrupt Practices Act.

the Consumer Bill of Rights.

The act that makes it unlawful to discriminate in prices charged to different purchasers of the same product is called the Fair Price Act. the Equal Pricing and Labeling Act. the Clayton Act. the Robinson-Patman Act.

the Robinson-Patman Act.

Even when a product is well-suited for its intended targets, it won't be sold if they don't have the necessary income. inflation has dropped. the economy is ignored. discretionary income has increased.

they don't have the necessary income

Using technology for the development of new products creates ________ for customers. inflation competition superior service value

value

Biometric monitors and exoskeletons are examples of what type of technology? Biotechnology Natural user interfaces Social media networks Wearable technology

wearable technology