Exam 2: The Environment in Which Marketing Operates

In developing a marketing plan, a marketing manager must take into account marketing factors that are uncontrollable by marketing personnel. These variables include

The organization of the marketing department is a component of the marketing mix.

When business managers outline a firm's functions, geographic coverage, and the specific business of the firm, they are detailing the firm's

When a firm views competition in generic terms, it

The most common form of competitive structure in the United States is oligopoly.

Federal legislation affecting marketers can be divided into three major categories: antitrust, discriminatory pricing, and unfair trade practices; industry deregulation; and

A maker of inexpensive computer software provides low-cost documentation (that is available on the Web through a frequently asked questions and search format), offers limited telephone support, and does not advertise. This strategy enables the software provider to undercut competitors, while offering a high-quality product. This marketing mix is

In an oligopoly situation, a firm should seek to

The annual value of goods and services produced in a country less net foreign investment is a country's

The unique features in a firm's marketing program that cause consumers to patronize the firm, and not competitors, is its

A firm in a pure competition competitive structure can reposition itself as being in a monopolistic competition competitive structure through a differential advantage.

A marketing organization

In inflationary times, real income provides a better measure of a consumer's spending ability than actual income.

While a real-estate firm specializing in housing for senior citizens can define its target market as retired adults over 75 years old that live within a 25-mile radius of its facilities, it cannot control the number of retired adults or their purchase behavior.

Through its marketing mix, a company seeks to appeal to its target market(s).

A firm calls its employees "associates," prefers to promote from within, uses participative management, and focuses on long-term (not short-term) performance. These values reflect the firm's

A functional marketing organization is the best form of organization for a firm seeking to develop staff specialists.

In an oligopoly,

When an industry has several firms, each of which is striving to offer a unique marketing mix, which competitive structure exists?

A firm is a low-cost provider in an industry on the basis of cost economies due to its high market share and key patents. This illustrates its