Exam 3: The Global Marketing Environment

Firms always adopt and use new technology.

Which of the following industries is most commonly regulated by state regulatory agencies?

The American automobile industry used to be dominated by "The Big Three," including General Motors,Ford,and Chrysler.However,as many more foreign competitors began influencing this market,the American companies had to modify and differentiate their products.The automobile industry moved from a(n)____ structure to a(n)____ structure.

An increasingly diverse cultural base in the United States means that marketers face increasingly diverse consumer markets.

To achieve their objectives,consumer advocates write letters to companies,lobby government agencies,broadcast public service announcements,and boycott companies whose actions they deem irresponsible.

Although marketing theory supports the contrary,it is more probable that marketing budgets will be cut during periods of economic

Use the following to answer the questions. A new U.S.automobile company,Specialty Motors,was established in 2004.In 2008,a recession caused disposable income to decline,and the annual amount of dollars spent by consumers for automobiles dropped drastically.Specialty Motors faced the problem of trying to determine whether the economy would turn toward prosperity or toward depression.No matter what happened,Specialty Motors was also worried about an impending global steel shortage,which would make a big difference in its future marketing plans.The economy might recover from the recession,but the automobile makers might be forced to ask consumers to curtail consumption just when the hope of a better year was finally in sight.All in all,the future looked dismal for Specialty Motors. -Refer to Scenario 3.2.If the economy recovers in the future and enters the prosperity phase of the economic cycle,what actions should Specialty Motors take?

Many health care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases.This change in marketing strategy is best explained by a change in

Explain the differences between the competitive structures of a monopoly and an oligopoly.

The 1990 Nutritional Labeling and Education Act directly prohibits

Consumers begin to become more price and value conscious during periods of

Credit increases future buying power.

The amount of future income already committed to past credit agreements influences one's ability to use more credit.

An oligopoly exists when a firm offers a product that has no close substitutes,making the firm the sole source of supply.

More than half of the research of technology created is paid for by

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

The D-Lite Corporation produces a unique type of light bulb that is used in refrigerator manufacturing.D-Lite is the only maker of this light bulb,and there are no close substitutes for it.In this case,the D-Lite Corporation would be

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

Environmental analysis is the process of collecting information about forces in the marketing environment.

Technological developments have a direct impact on creating and maintaining a marketing mix.