Exam 3: Evaluating Opportunities in the Changing Marketing Environment

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

A strategic business unit (SBU) within a larger firm is usually treated as a separate profit center.

When a local bank in Kansas City makes loans to its small business customers, it charges them an interest rate for borrowing money. Interest rates are part of the ____________ environment.

A large producer with economies of scale always has a competitive advantage over smaller firms.

If Climbing High Ladder Company produced ladders that were unstable and caused many injuries, the ___ has the power to force the company to recall its product.

Portfolio management:

Product warranties are regulated by the Magnuson-Moss Act.

In multiproduct firms, the emphasis in portfolio management is usually on the long run rather than the short run.

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Consumer emphasis on fitness has created opportunities for firms like Nike, Nautilus and Schwinn, and illustrates the impact of the changing:

The cultural and social environment affects how and why people live and behave as they do.

Most industrial products tend to be near the "insensitive" end of the continuum of environmental sensitivity.

A marketing manager in a large corporation wrote the company's president a memo in which she said: "The performance of our SBU has improved." An "SBU" is a:

Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?

Technology provides new opportunities and new challenges for marketers.

Competitive barriers in the Japanese market for disposable diapers impacting P&G included all of the following except:

The recent interest in physical fitness has forced producers of food, clothing, and other products to reconsider their marketing strategies. Which of the following does this trend illustrate?

A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef. Clearly, this firm's opportunities may improve with this change in the

Which of the following observations is NOT TRUE of monopolistic competition?

Most changes in the cultural and social environment come slowly.