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Exam 3: The Marketing Environment

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Question 21

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In general, which of the following competitive structures is an organization least likely to operate?

A) Monopoly
B) Monopolistic competition
C) Oligopoly
D) Elastic competition
E) Pure competition

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Question 22

Multiple Choice

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Lindsay was reviewing her bank statement for last month. She had paid her rent, her car payment, electric and phone bills, and made three trips to the grocery. Lindsay had also bought tickets to a Katy Perry concert and new clothes to wear to the concert. The money spent on Lindsay's rent, car, electric and phone bills was likely from her ____ , while the money spent on the concert tickets and new clothes was from her _____.

A) Disposable income; savings
B) Gross income; disposable income
C) Disposable income; net income
D) Disposable income; discretionary income
E) Gross income; Savings income

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Question 23

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Describe several ways in which federal agencies influence marketing activities.

The four major competitive structures are

An increasingly diverse cultural base in the United States means that marketers face increasingly diverse consumer markets.

Personal computers and cellular phones are technology.

Total buying power declines during periods of economic

​The Federal Reserve Bank just issued its economic report on the U.S. economy for the quarter just ended. The following are some of the key points mentioned in the report: 1. "Economic activity has continued to grow at a moderate pace since the last report." 2) "Manufacturers report that business activity has picked up considerably in recent weeks." 3) "Tourism activity has strengthened, no longer held back by harsh weather." 4) "General merchandise retailers report that sales rebounded strongly in April and early May." "5) "Retail contacts generally say that inventories are at satisfactory levels, that prices are mostly steady, and that the degree of discounting is little changed from a year ago." Based on these economic forces, you can conclude"

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) ____ approach to marketing environmental forces.

Scenario 3.2 Use the following to answer the questions.Clayton Homes, a mobile home manufacturer since 1934, introduced its new i-House in 2007. The i-House is one of the first of its kind, designed as an updated, modern version of the modular home, offered as a base home plus add-ons known as "pods." The base home is a one-bedroom, one-bath 734-square foot version at a price of around $80,000. There is also a 1,000 square-foot version for around $100,000. All versions may add on the additional one-room pods as desired which are shipped to your location and constructed on-site. The homes offer galvanized metal roofing, corrugated steel siding, VOC-free paints, and a "butterfly" roof that collects rainwater. The i-House uses 30% less energy than a similar square-foot home and offers "green" characteristics of solar panels, tankless water heaters, and low-flow faucets. In addition, it comes with bamboo flooring, a renewable resource. The modular, pre-fabricated design offers endless options for creating the customer's home and its engineered building system cuts down on construction waste. Due to the "green effects" of the i-House, the state governments have given it a tax abatement for any sales taxes. -Refer to Scenario 3.2.The new Clayton Homes i-House product is a reflection of the company's attention to ____ in developing its strategy.

Through technology assessment, managers try to foresee the effects of new products and processes on the firm's operations and on society.

Political and legal forces in the marketing environment are highly interrelated.

____ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.

Price discrimination is prohibited by the ____ Act.

​The U.S. government has implemented a number of laws over the years to ensure the U.S. economy remains fair, competitive and free of monopolies.One such law has the following characteristics: $\bullet$ It is also a criminal law, and individuals and businesses that violate it may be prosecuted by the Department of Justice. $\bullet$ It imposes criminal penalties of up to $100 million for a corporation and $1 million for an individual. $\bullet$ It doesn't clearly prohibit mergers or interlocking directorates. $\bullet$ It outlaws "every contract, combination, or conspiracy in restraint of trade." Which of the following laws is described by the characteristics described above?

Marketers primarily focus their environmental analysis on ____ competitors.

Which of the following are the most frequently sentenced organizational crimes?

Most marketers operate in a competitive environment of either

In addition to the proliferation of new organic brands many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in​

​Changes in cultural values have little effect on people's needs for products.