BUSMl 3150 Ch.3 HMWK

Which of the following are the broad categories that should be considered when analyzing the components of an environmental scan?

-Consumer income -Macroeconomic conditions

Which of the following are among the goals of environmental scanning?

-Interpreting and identifying trends -Continually acquiring information on external events

1. Pure competition 2. Monopolistic competition 3. Oligopoly 4. Monopoly

-Many sellers offering similar products in a marketplace in which they have little control of marketing. -Many sellers offering substitutable products within a price range. -A few companies control the majority of industry sales. -a single seller of a product exists.

Which 2 of the following are personal moral philosophies that have the most direct bearing on marketing practice?

-Utilitarianism -Moral idealism

1. Pure competition 2. Monopolistic competition 3. Oligopoly 4. Monopoly

-Wheat, grains, and rice -Coffee, tea, soft drinks -Cell phone carriers -Water, electricity, natural gas

What are the newest forms of technological changes that are occurring now?

-blockchain -biotechnology -wearable technology

2 personal moral philosophies are _____, which considers certain rights and duties as universal, and _____, which focuses on the greatest good for the greatest number.

-moral idealism -utilitarianism

Which environmental forces refers to the alternative firms that could provide a product to satisfy a specific market's needs?

Competition

______ incorporates the set of values, ideas, and attitudes that are learned and shared among the members of a group.

Culture

Which statement about regulation as an environmental force is true?

Regulation often places restrictions on the activities of businesses.

Which of the following environmental forces is most likely to result replacement of existing products or companies?

Technology

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

Technology

The marketspace is defined as ______.

an electronic exchange environment with computer technologies and digitized offerings.

An example of ______, is the elimination of passwords based on facial or fingerprint recognition.

authentication technology

If the contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products, it is practicing ______.

cause marketing

Gross, disposable, and discretionary are 3 components related to ______.

consumer income

Even when a product is well-suited for its intended targets, it won't be sold if ______.

consumers don't have the necessary income

Technology is causing a change in the computer assessment of value because its cost is plummeting, resulting in ______.

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

The demographic characteristics of a population and its ______ comprise the social forces in the environment.

culture

The term _____ indicates the characteristics of human populations and segments, especially those used to identify consumer markets.

demographics

The ______ is one of 5 components of an environmental scan because businesses are impacted by forces such as inflation, productivity, and consumer income.

economy

The moral values that govern the actions and decisions of an individual or group and serve as guidelines on how to act rightly and justly when forced with a moral dilemma are referred to as _____.

ethics

A good marketer can identify potential opportunities by paying close attention to environmental ______; it is important to continuously monitor the business environment in which a company operates.

forces

Environmental scanning is necessary for an organization to ______.

interpret trends that may be a source of opportunity

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

learned

Social responsibility means that organizations are _______.

part of a society and accountable to it for their actions

A ______ is described with demographics.

population

Social responsibility includes the concepts of _______ responsibility, stakeholder responsibility, and societal responsibility.

profit

To get a comprehensive look at your competition, you should consider firms that

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

An environmental scan will include ______ forces impacting a business by way of state and federal laws that may restrict its activities.

regulatory

In the United States, the majority of new jobs are generated by _____ businesses.

small

The majority of the competitive landscape in this country is made up of ______.

small business

The demographic of a population and its culture are the basis of the _____ forces of the environment.

social

Profit responsibility, stakeholder responsibility, and societal responsibility are the 3 concepts of ______.

social responsibility

The fact that organizations are part of a larger society and are accountable to that society for their actions is the essence of ______.

social responsibility

An information- and communication-based electronic exchange environment occupied by computer technologies and digitized offerings is called ______.

the marketspace

Ethics refers to _____.

the moral principles and values that govern the actions and decisions of an individual or group

In cause marketing, charitable contributions are not outright contributions but rather are ______.

tied to customer revenue products through the promotion of one of its products

Using technology for the development of new products creates ______ for customers.

value