Exam 3: The Marketing Environment

Refer to Scenario 3.4 Bank of America offered new products designed to protect individuals from identity theft. Consumer concerns about identity theft represent

The dynamics of technology involve the constant change that often challenges the structures of social institutions, including social relationships, the legal system, religion, education, business, and leisure.

What are the major forces that are referred to as sociocultural forces and how do they present marketers with both challenges and opportunities?

Scenario 3.2 Use the following to answer the question. 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, 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, prefabricated 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.

Which of the following actions is illegal?

Which of the following firms would be most likely to have a monopoly for its competitive environment?

At the beginning of each of your marketing strategy team meetings, each team member gives a presentation on the current status of a key force in your company's marketing environment. The following brief presentations were given by your team members: John's presentation focused on the competitive forces in your industry. Karen's presentation focused on the internal dynamics in your company. Brandon's presentation focused on the political events emanating from Washington D.C. Susan's presentation focused on what is driving the technology changes happening in the country. Beverly's presentation focused on the most recent economic projections issued by the Federal Reserve Bank of New York. After reviewing the presentations, you can conclude that

Companies delivering mixed concrete know that it cannot be shipped farther than 25 miles because the concrete might harden in the truck. Citrus County Concrete Company is the only supplier of mixed concrete to customers within a 30-mile radius. Citrus County Concrete is an example of which one of the following competitive structures?

The fact that technology acts as a catalyst to spur even faster development is referred to as

Although numerous regulatory forces arise from governmental sources, nongovernmental regulatory forces may also affect marketing decisions.

Numerous self-regulatory programs have been created to stop or stall the development of laws and government regulatory groups that would regulate marketing practices.

When a firm continues to violate what the Better Business Bureau believes to be good business practices, what is one of the main actions the bureau will take?

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. If the Federal Trade Commission believes that Soljur Sports is acting in violation of the law, the first move for the FTC is to

Total buying power declines during periods of economic

Scenario 3.4 Bank of America is interested in helping people understand their money and how to build Better Money Habits™. They are working to connect customers, clients, employees, and communities to the tools, products, and education they need to help make their financial lives better. The Bank of America has partnered with Khan Academy to launch BetterMoneyHabits.com where free content is available to anyone via a self-paced learning experience to explain the complex concepts of financial matters. Refer to Scenario 3.4. The partnership between Bank of America and Khan Academy to provide financial literacy through the website BetterMoneyHabits.com reflects the importance of ______ as an environmental factor.

Publix Supermarket is revising its marketing plan for the upcoming quarter. Publix typically focuses on its wide variety of products and its high-quality customer service, having very few weekly "sales." However, during the upcoming quarter, Publix plans to focus on price and value, and promote weekly "values" instead. Publix is most likely in a(n)

The Children's Online Privacy Protection Act prohibits websites and Internet providers from

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

After several children became ill while playing with toys imported from outside the United States, medical researchers found several illegal chemicals, including lead in the paint. These toys were sold primarily through websites on the Internet. Which of the following agencies would most likely have jurisdiction over the problem with lead in the paint of children's toys?

A person's buying power is a function of