Exam 3: The Marketing Environment

Consumer confidence and willingness to spend begins to increase during periods of ____, and marketers must remain very flexible to make the necessary adjustments.

For a given level of buying power, the larger the family, the greater the willingness to spend.

Marketers can influence the political process through political action committees that solicit donations from individuals and then contributes those funds to candidates running for political office.

Fred has to decide whether to travel to Chicago by train or airplane. Traveling by train would take longer, giving him potentially less time to spend in Chicago. However, traveling by air would be much more expensive. The train as a form of transportation is what type of competitor to air travel?

Scenario 3.1 Use the following to answer the question. Meyers Sporting Goods, a national chain, has been doing business with Soljur Sports, a manufacturer of skateboards, for several years. Recently, it came to the attention of Meyers' financial director that the average cost per Soljur Sports skateboard had substantially increased over that of the previous year. The financial director asked the marketing department if they knew what the Soljur skateboards cost at competing sporting goods stores, to see if they too were likely hit with a higher cost. The marketing department found that the Soljur skateboards were priced at $15 less in the competing store than at Meyers. The financial director found that Soljur Sports was selling a similar number of skateboards to one of Meyers' competitors for $10 less per skateboard. The attorney for Meyers Sporting Goods immediately filed a complaint with the Federal Trade Commission. Refer to Scenario 3.1. A regular customer of Meyers Sporting Goods feels that some of its advertisements are deceptive. He responded to an ad for skateboards on sale one hour after the store opened and found that none were left. Where should he file a complaint?

Discretionary income is associated with all of the following except

San Francisco has banned toys in Happy Meals because of the demand these toys might create among children for unhealthy fast food. What type of regulatory force is this?

Despite the fact that the FDA has mandated that they are safe, many people still distrust genetically-modified foods. Some are choosing to express their dissatisfaction by protesting and writing letters to their state governments. These letters demand that genetically-modified food be labeled so shoppers can make informed choices. These activities are an example of ___________.

Explain the difference between procompetitive legislation and consumer protection laws.