Exam 3: Scanning the Marketing Environment

A local pet supplies boutique had a good year with rising revenues and reduced operating costs resulting in personal income for the owner of nearly $100,000. One-third of that went to local, state, and federal income taxes and another third went to pay for a home mortgage, car payments, food, clothing, and other necessities. What is the remaining third called?

What is the difference between a patent and a copyright? Digital technology has required what additional recent legislation?

The form of competition in which many sellers compete with substitutable products within a price range is called

Agribusinesses that sell commodity products such as wheat, rice, and corn are often in __________ position with their competitors.

Generally, the U.S. population is becoming

Consumerism refers to

Recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of radio frequency (RFID) tags that are currently used in industry. This is an example of how __________ forces are applied to industry.

The Lanham Act cannot protect the rights to a trademark if

A high-fashion boutique sells top-of-the-line women's clothing and accessories. The keys to its success include knowing customers' changing tastes and providing something different than other retailers. In addition, because of the high value of the merchandise, the boutique's management is investing in the use of computerized inventory controls and sales order processing. The least important environmental force to the boutique at this time is likely to be

How do the macroeconomic conditions as well as consumer income affect marketing?

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks __________, it was prepared for this shift in its marketing environment.

Components of a consumer's income consist of

Last year, the Parker family dined at nice restaurants almost four times a week. Even though Mr. Parker received a 2 percent pay raise, the cost of living rose by 4 percent and property taxes went up 5 percent in their community. As a result, the family now eats most of their meals at home, dining out only a few times a month. This reflects

Which of the following laws has the purpose of protecting competition?

By 2050, the world's population is expected to be

Give an example of how each of the five environmental forces can impact an organization's marketing environment.

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

In an inflationary economy, the cost to produce and buy products and services __________ as prices __________.

The purpose of the Clayton Act is to

Combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races are referred to as __________ marketing programs.