External Factors Effecting Marketing Practice WS

Which of the following is a tool that can be used to carry out scanning activities: Budgeting software Personnel records Manufacturing equipment Market research studies

Market research studies

Which of the following would be done first in an environmental scan: Carry out scanning activities Identify and analyze important trends and issues Select trends and issues to act on Identify participants and responsibilities

Identify participants and responsibilities

Which of the following groups is most likely to share the same demographics: International travelers Airline passengers Online shoppers Working mothers

Working mothers

Which of the following is a true statement about carrying out scanning activities: You should avoid using surveys. All information should be obtained in a formal manner. Information obtained from television is unreliable. You must focus only on relevant information.

You must focus only on relevant information.

A main reason that environmental scanning is important is so that businesses can be aware of competitors' internal environments. foreign markets. potential threats. new products.

potential threats.

A business should conduct environmental scans on a continuous basis so it can save money. control the external environment. respond to opportunities and threats quickly. change customers' attitudes.

respond to opportunities and threats quickly.

Inflation is a factor involved in which category of an environmental scan?

economy

A business cannot control its research and development. production. personnel. external environment.

external environment.

Which of the following is an example of how a business or industry has a unique relationship with its environment: Demand for skilled nursing care rises as the population ages. New technology causes new laws to be enacted. An economy in prosperity will eventually experience recession. Social and cultural attitudes change over time.

Demand for skilled nursing care rises as the population ages.

Which of the following examples illustrates how environmental factors are dynamic: Demographics influence social and cultural attitudes. High interest rates will eventually get lower. The government provides subsidies to agricultural businesses. The economy impacts government policies.

High interest rates will eventually get lower.

Which of the following is a factor that relates to the government category of an environmental scan: Stage of the business cycle Religious affiliation Import/Export regulations Advances in technology

Import/Export regulations

Which of the following is a true statement about the term "environment": It refers only to the earth and its resources. It has no affect on your performance. It applies to individuals, not businesses. It consists of your surroundings.

It consists of your surroundings.

Which of the following is a true statement about a business's environment: It may not affect the business, depending on the industry. It can be avoided. It is always changing. It consists of the economy and technology.

It is always changing.

Which of the following is the most rapidly changing category of information included in an environmental scan: Technology Demographics Competition Government

Technology

Which of the following is an example of a demographic trend: Shifting political climates The aging of the population A concern for fitness and health Rising interest rates

The aging of the population

Which of the following examples illustrates how environmental factors are interrelated: Low investor confidence heavily impacts financial planners. The economy affects banking institutions. New legislation will be written in the future. The economy affects what competitors are doing.

The economy affects what competitors are doing.

Environmental scanning is sometimes called environmental planning. analysis. management. protection.

analysis

Businesses must gather information about the competition during an environmental scan. Which of the following is an example of brand competition:

coke vs pepsi

One way to determine the importance of an issue or trend is to consider its impact on

demand for your business's products.

Changing attitudes about family roles is an example of a shift in the economy. demographics. competition. society and culture.

society and culture.