Exam 3: The Marketing Environment, Ethics, and Social Responsibility

What is the competitive environment and what factors need to be considered in monitoring this environment?

What is the birthrate trend in Canada at the present time?

What are air bags and the development of the Internet examples of?

What are some of the consumer benefits of technology? Are there any drawbacks to the consumer with the applications of new technology?

What is inflation and deflation? In which of the four business cycles might inflation or deflation occur? Discuss how each affects the economy.

Unemployment is defined as the proportion of people in the economy who currently don't have jobs and are not actively looking for work.

The strength of consumer spending is related to the rate of unemployment-when jobs are created, consumer confidence and consumer spending rises.

During recessionary periods, how is it still possible for a business to compete?

A change in price, a product improvement, or a technological advancement can affect the demand for substitute products.

Time-based competition is based on a strategy of developing and distributing goods and services more slowly and cautiously than competitors.

Which of the following best describes the Canadian Marketing Association (CMA)?

Coffee shops and restaurants adding Wi-Fi access are examples of marketers scanning the technological environment for innovative products that can enhance their businesses.

As a nation, Canada is becoming older, more affluent, and more culturally diverse.

The type of competitive strategy a firm uses is based on the answers to three questions. Discuss these questions and their possible answers.

Kelly has the option of going to Cancun, Mexico or Quebec City during spring break. In this context, what type of competition are Cancun and Quebec City in?

Ensuring ethical practices means promising customers and business partners to sacrifice quality and fairness for profit.

Which of the following helps time-based competitors to improve product quality, reduce costs, and expand product offerings to satisfy new market segments and enhance customer satisfaction?

Which component of the marketing environment consists of factors that influence consumer buying power and marketing strategies?

Which of the following is NOT a characteristic of a recovery period?

News reports from Zimbabwe indicate that a small pack of locally produced coffee beans costs approximately 1 billion Zimbabwean dollars, an amount that would have bought 60 new cars less than 10 years ago in the same country. What is Zimbabwe experiencing extremely high levels of?