Exam 2: The Environment in Which Marketing Operates

A disadvantage of all marketing organizations except functional is the need for separate marketing staffs for each decentralized organizational unit.

In which competitive structure does no single firm have any control over price?

The Following Questions are linked to this scenario: As vice-president of marketing of a major appliance manufacturer (that specializes in refrigerators and ranges), you are considering various alternative organizational forms for the marketing function. -Another alternative organization design would be based upon best meeting the needs of different market segments. For example, organizational consumers (such as builders and property owners) often purchase major appliances on the basis of cost, the availability and cost of replacement parts, and ease of repair. Final consumers, on the other hand, typically purchase major appliances largely on the basis of style and color preferences. The most appropriate organization form for the firm is

The specific combination of marketing elements used to achieve objectives and satisfy the target market is the

The change in a person's standard of living between two time periods can be best studied through evaluating his/her real income in each period.

A company's overall objective of increasing sales by 9 percent can be translated into marketing objectives such as increasing the average purchase by customers by 5 percent and increasing the number of loyal customers (who purchase goods 12 times a year or more) by 10 percent.

A firm's differential advantage of being a low-cost provider may be appealing to one target market (economical consumers who are concerned primarily with price) but undesirable to another target market (status-conscious consumers who are concerned with customer service and store atmosphere).

In which marketing organization format does a firm use a single individual to make packaging, advertising, distribution, and pricing decisions for each individual brand?

A conglomerate has a very clear definition of its line of business.

Are marketers more interested in aggregate money income data or in real income data by market segment (such as geographic area)? Explain the value of each type of data.

a. Describe the concept of marketing myopia. b. How can a major manufacturer of commercial grade central air-conditioning equipment avoid marketing myopia?

From the perspective of an individual firm, distinguish between pure competition and monopolistic competition on the basis of the number of firms, the control over the marketing plan, the ease of entry, differential advantages, and the key marketing task.

Which of the following is NOT a controllable factor that is directed by top management?

A target market cannot consist of the mass market.

Without a differential advantage, a company would have a

A personal computer manufacturer generates consumer loyalty through the use of direct marketing, Web-based ordering, high levels of customer service, and low prices due to its assuming wholesale and retail functions. These strategic elements constitute its

In general, a firm's overall objectives are more customer-oriented than those set by top management.

Different firms in the same industry usually have the same corporate culture.

An appliance retailer has decided to limit its business to marketing major appliances in a size suitable for smaller apartments. This represents its

The part of the marketing environment in which an organization plans changes in its marketing plan to reflect a new consumer trend is