Exam 3: The Marketing Environment

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

Explain the difference between procompetitive legislation and consumer protection laws.

Single people have quite different spending patterns than couples and families with children. They spend more heavily on convenience foods, restaurants, travel, entertainment, and recreation.

In a period of economic recovery, the best marketing strategy for FedEx would be characterized by which of the following features?

According to the textbook, a manager's duties in an environmental analysis include

The Food and Drug Administration influences marketing activities the most.

A person's buying power is a function of

The Coca-Cola Company has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy?

Product competitors provide very different products that solve the same problem or satisfy the same basic customer need.

Texas rice farmers wish to get their product into the Japanese market but are hindered by a complex maze of regulations imposed by the Japanese government. The farmers are most likely to attempt to influence which aspect of the marketing environment?

SiriusXM Radio is concerned about how the increasing use of smart phones will affect the future sales of its satellite radio service. The company decides to gather information about the changing trends in music access and delivery to prepare for this trend. Sirius XM's process is called

The number of firms that control the supply of a product may affect the strength of competition.

Environmental analysis helps managers identify potential threats and opportunities linked to environmental changes.

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

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. In what type of competitive structure is Clayton Homes most likely operating?

State and local regulatory agencies usually do not establish and enforce regulations that conflict with the actions of national regulatory agencies.

The Council of Better Business Bureaus and the FTC make up the National Advertising Review Board (NARB).

Fraud and antitrust violations are the most frequently sentenced organizational crimes.

​Your company is planning to increase its political influencing activities in the next fiscal year in an attempt to shape upcoming, key legislation in your favor.Which of the following steps should you consider to accomplish this goal?

Wealth is an accumulation of past income, natural resources and financial resources.