Chapter 3: The Marketing Environment
Which of the following companies would probably be most interested in tracking discretionary income levels?
BMW automobiles
Heidi decided to spend some of her saved money on tickets to a Cold Play concert coming to town, and nowshe is planning on buying a new outfit for the concert. What type of resources is Heidi making decisions about?
Discretionary Income
__________ competitors provide very different products that satisfy the same basic customer need.
Generic
Which of the following provides protection for and regulates brand names, brand marks, trade names, and trademarks?
Lanham Act
___________ competitors are those that compete in the same product class, but their products have differentfeatures, benefits, and prices.
Product
International Office Supplies Wholesaler charges different prices to its various customers without any legal justification. This company is in violation of the
Robinson-Patman Act
Price discrimination is prohibited by the ___________ Act
Robinson-patman act
Which of the following acts was enacted to prevent businesses from restraining trade and monopolizing markets?
Sherman Anti Trust Act
If all the gas stations in a city collaborated to determine what gas prices should be charged, they would be violating the
Sherman AntiTrust Act
Which of the following would represent a brand competitor for Ford's Escape Hybrid sport utility vehicle
Toyota Highlander Hybrid
When PepsiCo takes the information collected through research and attempts to assess and interpret what it means for its soft-drink marketing efforts, PepsiCo is engaged in environmental
analysis
Companies that market products with similar features, benefits, and prices to the same customer group are known as _________ competitors.
brand
According to the textbook, a manager's duties in an environmental analysis include
checking information for accuracy, resolving inconsistencies, and assigning significance to the findings
What is the most important factor in distinguishing disposable income from income?
consumer spending
The best approach for a company to take when monitoring its competitors is
developing a system for gathering ongoing information about competitors.
Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in
environmental scanning
Dell Computer collects information about a wide variety of competitive, economic, political, legal and regulatory, technological, and sociocultural forces that affect its marketing activities. This process is called
environmental scanning
To monitor changes in the marketing environment effectively, marketers must engage in
environmental scanning and analysis
By offering credit and financing through its GMAC division, General Motors is trying to help consumers
expand current buying power at the expense of future buying power.
When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) _______ structure exists in the competitive environment
monopolistic competition
Three primary methods of collecting information for environmental scanning are
observation, secondary sources, and marketing research
Textile companies historically face issues concerning the use of child labor in foreign countries and the various regulations created concerning this labor. The type of marketing environment forces executives for these companies are most likely to try to influence are ______ forces.
political
Procompetitive laws are those designed to
preserve competition
Marketers who attempt to influence and change the various environmental forces have a(n) _____ response to these forces
proactive
Toyota has developed aluminum car bodies that are 100 percent recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?
proactive
Assuming that inflation is low, high buying power characterizes the _____ stage of the business cycle
prosperity
Although Matt's company engages in environmental scanning and analysis, he feels more comfortable changing his policies and strategies to adapt to environmental forces rather than trying to influence these forces. Matt has a(n) _____ approach to marketing environmental forces.
reactive
Marketers who view political forces as being beyond their control are taking a ___________ response toward these forces
reactive
If M&M Mars Candies found a magazine article that provided key information on the television viewing habits of major candy consumer groups, this would be an example of information obtained through environmental
scanning
The strength of a person's "buying power" depends on economic conditions and
size of resources that can be traded in an exchange.
In today's marketing environment, competitors can take on many forms. For example, Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum. In this circumstance, these two products are described as ___________ competitors.
total budget
The textbook suggests that the best approach a firm can take in responding to marketing environmental forces is
variable