ch3

match: 1. social 2. economic 3. technological 4. competitive 5. regulatory a. cultural changes b. consumer income c. electronic business technologies d. rivalries and substitutions e. laws affecting marketing mix actions

1. social=a. cultural changes 2. economic=b. consumer income 3. technological=c. electronic business technologies 4. competitive=d. rivalries and substitutions 5. regulatory=e. laws affecting marketing mix actions

consumerism can be described as ___ a. a movement to increase the power and rights of consumers in dealing with institutions b. an attitude towards products in which they are highly prized and that is associated with excessive consumption c. an attitude towards products in which all participants in an economy enjoy equal access to products d. an environmental force affecting business related to alternate firms that provide luxury products

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

what is recycling? a. an effort by manufacturers to avoid creating waste in the production process b. an effort by consumers to consciously seek out recycled products c. an effort by consumers to reuse products as many times as possible d. an effort by manufacturers to get consumers to purchase recycled products

a. an effort by manufacturers to avoid creating waste in the production process

select three components of the competitive environment a. bargaining power of buyers and suppliers b. technology advancements c. existing rivalries d. substitution possibilities

a. bargaining power of buyers and suppliers c. existing rivalries d. substitution possibilities

match: a. barriers to entry b. power of buyers c. power of suppliers d. exiting rivalries 1. there is only a single producer for a vital component in a cell phone 2. it is easy and inexpensive for customers to switch to a different grocery store 3. airlines offer discounts for making reservations early or charge penalties for canceling reservations 4. potential competitors find it difficult to recreate the wide distribution that Western Union has for its money transfer services

a. barriers to entry=4. potential competitors find it difficult to recreate the wide distribution that Western Union has for its money transfer services b. power of buyers=2. it is easy and inexpensive for customers to switch to a different grocery store c. power of suppliers=1. there is only a single producer for a vital component in a cell phone d. existing rivalries=3. airlines offer discounts for making reservations early or charge penalties for canceling reservations

the best known self regulatory group is the ___. a. better business bureau b. federal trade commission c. small business administration d. food and drug administration

a. better business bureau

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

a. environmental scanning

match a. exclusive dealing b. requirements contacts c. exclusive territorial distributorship d. tying arrangements 1. an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors 2. a buyer must purchase all or part of its needs for a product from one seller for a time period 3. a manufacturer grants a distributor the sole rights to sell a product in a specific geographical area 4. a seller requires the purchaser of one product to also buy another item in the product line

a. exclusive dealing=1. an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors b. requirements contacts=2. a buyer must purchase all or part of its needs for a product from one seller for a time period c. exclusive territorial distributorship=3. a manufacturer grants a distributor the sole rights to sell a product in a specific geographical area d. tying arrangements=4. a seller requires the purchaser of one product to also buy another item in the product line

select the four issues related to distribution that are monitored by the government a. exclusive dealings b. tying arrangements c. price discounting d. exclusive territorial distributorship e. requirement contracts f. price fixing

a. exclusive dealings b. tying arrangements d. exclusive territorial distributorship e. requirement contracts

Environmental scanning is necessary for an organization to ______. a. interpret trends that may be a source of opportunity b. identify the needs of tis green suppliers and customers c. realize its social responsibility goals d. advance its technological research and development

a. 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. a. learned b. written c. in-born d. flexible

a. learned

consumer income in a ___ factor that is important to marketers a. microeconomic b. regulatory c. competitive d. macroeconomic

a. microeconomic

universal music group, Sony music entertainment, and warren music group together control the majority of the market share in the music industry. what form of competition does this represent? a. oligopoly b. monopolistic competition c. monopoly d. pure competition

a. oligopoly

the Sherman act focuses on which component of the marketing mix? a. price b. place c. product d. promotion

a. price

Inflation may harm marketers when ______. a. prices rise faster than consumer incomes b. prices decrease to the benefit of their competitors c. the cost of producing goods plummets d. the low prices are only available to consumers for a short time

a. prices rise faster than consumer incomes

Select those items that are among the five sources of environmental trends? (Select all that apply) a. regulatory b. labor c. distribution d. social e. economic

a. regulatory d. social e. economic

More and more companies rely on consumers to act as brand advocates among their peers. This trend relates to which environmental force? a. social b. economic c. regulatory d. technological

a. social

which two laws forbid monopolies or other actions that cause restraint in trade? a. the Clayton act b. there Sherman antitrust act c. the anti monopoly law d. the copyright act

a. the Clayton act b. there Sherman antitrust act

advertising and promotion are required by which governmental body? a. the federal trade commission b. the federal advertising commission c. the department of justice d. the consumer product safety commission

a. the federal trade commission

companies that use computer chips in their products that allow the product to be connected to a network are using___. a. the internet of things b. an extranet c. a blockchain d. electronic commerce

a. the internet of things

culture is defined as a learned and shared set of which of these? a. values b. technology c. ideas d. attitudes

a. values c. ideas d. attitudes

what are the newest forms of technological changes that are occurring now? a. wearable technology b. biotechnology c. RFID tagging d. blockchain

a. wearable technology b. biotechnology

critics of this form of competition suggest that because there are few sellers, price competition among firms is not desirable because it leads to reduce profits for all producers a. a monopoly b. an oligopoly c. pure competition d. monopolistic competition

b. an oligopoly

the Sherman antitrust act and the Clayton act were passed to encourage__. a. economic stability b. competition c. consumer safety d. intellectual property

b. competition

which environmental force refers to the alternative firms that could provide a product to satisfy a specific market's needs? a. rivalry b. competition c. consumerism d. regulatory

b. competition

Which two of the following are the broad categories that should be considered when analyzing the economic component in an environmental scan? a. political environment b. consumer income c. exchange rates d. macroeconomic conditions

b. consumer income d. macroeconomic conditions

social forces include __ characteristics of the population and its culture a. regulatory b. demographic c. technology d. competitive

b. demographic

which component of an environmental scan pertains to the income, expenditures, and resources affecting the cost of running a business or household? a. competitive b. economy c. industry d. finance

b. economy

environmental scanning is necessary for an organization to __ a. advance its technological research and development b. interpret trends that may be a source of opportunity c. realize its social responsibility goals d. identify the needs of its "green" suppliers and customers

b. interpret trends that may be a source of opportunity

what two actions can the FTC take regarding deceptive or misleading advertising and unfair business practices? a. order jail time for repeat offenders b. order corrective advertising c. issue a cease and desist order d. order that all future advertising be reviewed by the FTC before being used

b. order corrective advertising c. issue a cease and desist order

one way that technology improves production is by helping manufacturers avoid creating waste by reducing the amount of packaging they use. this is referred to as __. a. recycling b. precycling c. upcycling d. tech-cycling

b. precycling

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

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

the network of products embedded with connectivity-enabled electronics is known as ___. a. electronic commerce b. the internet of things c. an extranet d. a blockchain

b. the internet of things

select four issues related to distribution that are monitored by the government a. price discounting b. tying arrangements c. exclusive territorial distributorships d. exclusive dealings e. requirement contracts f. price fixing

b. tying arrangements c. exclusive territorial distributorships d. exclusive dealings e. requirement contracts

When marketers shift their focus from single transactions to creating ongoing relationships through high-engagement, experiential, customer journeys it is an example of a ______. a. outsourcing force b. technological force c. competitive force d. business force

c. competitive force

___ is a movement to increase the influence, power, and rights of consumers in dealing with institutions a. the consumer protocol b. consumer behavior c. consumerism d. the consumer product safety commission

c. consumerism

in the United States, the majority of new jobs are generated by ___ businesses a. foreign b. large c. small d. nonprofit

c. small

though the __ did not explicitly make the practice of price fixing illegal, courts have subsequently relied on it to find it to be so a. Madrid protocol b. free trade act c. patriot act d. Sherman act

d. Sherman act

self regulation can be described as ___ a. an action of companies to limit their production to stop declines in prices b. an attempt by government to limit the number of legislative barriers it places on new and existing businesses c. an effort of consumers to limit their purchase of goods and services in recessionary periods d. an alternative to government control in which industry attempts to police itself

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

an example of ___ is the elimination of passwords based on facial or fingerprint recognition a. wearable technology b. blockchain c. automation d. authentication technology

d. authentication technology

which environmental factor refers to the alternative firms that could provide a product to satisfy a specific market's needs? a. regulatory b. consumerism c. rivalry d. competition

d. competition

gross, disposable, and discretionary are three components related to ___ a. inflation b. gross domestic product c. consumer spending d. consumer income

d. consumer income

in a(n) ___economy, the cost to produce and buy products escalates as prices increase a. booming b. stagner c. reactionary d. inflationary

d. inflationary

which statement about regulation as an environmental force is true? a. regulation has failed to protect consumers safety b. regulation exists to protect. consumers, but not companies c. it typically results in eliminating competition d. regulation often places restrictions on the activities of businesses

d. regulation often places restrictions on the activities of businesses

the majority of the competitive landscape in this country is made up of __. a. nonprofit organizations b. US multinational corporations c. foreign owned firms d. small businesses

d. small businesses

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

d. social

what environmental force involves developing applications from science or engineering research? a. macroeconomic forces b. changing values c. competitive forces d. technological forces

d. technological forces

which environmental force refers to inventions or innovations from applied science or engineering research? a. competitive b. regulatory c. economic d. technology

d. technology

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

regulatory or regulation