Exam 2: The Environment in Which Marketing Operates

Contingency plans help a firm plan for controllable factors.

Because of a firm's corporate culture, product managers may have to avoid risky ventures and concentrate on products that have higher potential in the short term.

In contrast to its overall objectives, a firm's marketing objectives are more frequently stated in terms of

The elements that are internally directed by a firm and its marketers are known as

In the most common competitive structure in the United States, each firm seeks a

A dry cleaner charges a 10 percent premium over traditional market rates on the basis of its high traffic and convenient location near a major train station, its same-day service, and its providing simple tailoring services for free (such as replacing missing or cracked buttons on shirts) on all cleaning services. The firm's total marketing program is well integrated.

During feedback, a firm changes its marketing plan so as to comply with the uncontrollable environment.

A firm with patent protection can utilize which competitive structure?

The marketing environment consists of these five parts: controllable factors, uncontrollable factors, feedback, control, and adaptation.

A restaurant appeals to consumers who desire family-oriented meals. It offers an informal dining atmosphere, family-size portions, and special menus for children accompanied by family members. Most of its patrons live within 5 miles of the restaurant, have annual family incomes in excess of $50,000, and dine with their children. These consumers comprise the restaurant's

Which competitive structure is most applicable to food products and commodities?

Describe the marketing environment for a supermarket chain located in a major city that seeks to appeal to consumers seeking appealing ready-to-heat meal solutions, as well as those consumers wanting organic fruits and vegetables. Be complete in your answer.

Which statement concerning uncontrollable factors is correct?

Oligopolies are characterized by ease of competitive entry.

An appliance manufacturer that imports significant quantities of merchandise from a foreign country needs a contingency plan in the event the value of the U.S. dollar drops relative to the country where the appliances are imported from.

The major role of the Federal Trade Commission is to

A firm's marketing organization can be comprised of a combination of functional, product-oriented, and market-oriented forms.

While selection of a target market is a controllable factor to marketers, the overall characteristics of the population represent an uncontrollable factor.

Contingency plans are most often used with what type of factor?

A firm realizes that both domestic and international consumers are important segments, with each requiring a separate marketing plan. The most appropriate marketing organization for this firm is functional.