Exam 1 Prep

How many factors make up the marketing environment? 3 1 2 4

2

Having a competitive advantage is not enough. A company also has to be able to do what? Sustain it beyond the near term. All of these Appeal to enough customers to be profitable. Effectively communicate it to the target market.

All of these

Which term best describes the most important micro-environment element, the opposite partner in an exchange? Suppliers Company Competitor Customer

Customer

Which term best describes a market having relatively stable competitors and customers? Federal Trade Commission (FTC) Established Markets Evolving Markets Macro-environment

Established Markets

Which term best describes a market that is changing rapidly and does not have stable competitors or customers? Established Markets Evolving Markets Federal Trade Commission (FTC) Macro-environment

Evolving Markets

Given the nature of technology today, technology markets are considered to be revolving markets. evolving markets. volatile markets. disrupted markets

Evolving markets

The micro-environment is also referred to as the external environment. True False

False

Which element would be categorized in the micro-environment for managers at Ben & Jerry's? Cultural beliefs Legal regulations Population trends Ingredients

Ingredients

Which term best describes a collection of buyers and sellers interested in making similar or related exchanges? Publics Mature Economy Market Developing Economy

Market

Controllable and uncontrollable forces that affect marketing decision make up the marketing environment. macro-environment. market. micro-environment.

Marketing Environment

What provides a snapshot of key marketing and performance measures? Marketing audit Marketing safeguard SWOT analysis Marketing dashboard

Marketing dashboard

Evaluation provides feedback for which purpose? Modifying both plans AND implementation Modifying implementation Modifying neither plans NOR implementation Modifying plans

Modifying both plans AND implementation

A customer who purchases a product to exchange with others, such as a school purchasing Ben & Jerry's to serve as part of its lunch program is a(n) competitor. supplier. end Consumer. reseller.

Reseller

In a SWOT analysis, which two considerations are internal to the organization? Weaknesses and threats Strengths and opportunities Strengths and weaknesses Opportunities and threats

Strengths and weaknesses

A company has an immediate environment. True False

True

The micro-environment is sometimes referred to as the internal environment. True False

True