Exam 2: The Environment in Which Marketing Operates

A firm can determine its relative degree of success or failure by comparing its overall objectives with its marketing objectives.

A firm can effectively implement its marketing plan through high feedback but little or no adaptation.

A travel magazine has five regional sales offices for advertising throughout the United States. Its sales organization is organized in a product-oriented format.

Consumer complaint letters are a good source of feedback for a marketing-oriented firm.

A tire manufacturer needs a contingency plan to reflect a possible product recall.

The most common competitive structure in the United States is

In which competitive structure does a firm have the most control over its marketing plan?

Which of the following is an example of a marketing objective?

When a manufacturer of high-speed modems monitors customer satisfaction through a mail survey of recent buyers, it deals with which part of the marketing environment?

The objectives of marketing, such as reducing lost sales, may conflict with a finance department objective of minimizing the investment in inventory.

A person's annual income rises by 10 percent, while the rate of inflation is 2 percent. Which of the following statements most accurately portrays this information?

A firm's corporate culture provides management and employees with acceptable standards of performance and behavior.

A firm's set of unique marketing-related features that cause its customers to patronize it and not its competitors makes up its differential advantage.

Technology refers to the development and use of

Which of the following are parts of a marketer's macroenvironment?

Managers are assigned on the basis of customer type and/or geographic market in which marketing organization format?

Define the term "differential advantage." What differential advantages could a local mechanic have in contrast to a quick-change oil and lube franchise?

An off-price retailer charges low prices for name-brand merchandise, does not advertise, uses low-rent locations, and relies on self-service. Together, these factors comprise the firm's

A company has these marketing executives: two brand managers, one market research director, and three regional advertising managers. What marketing organization format is it using?

Real income is the