Exam 3: Evaluating Opportunities in the Changing Marketing Environment

In monopolistic competition, managers sometimes try to differentiate very similar products by relying on promotion or other elements of the marketing mix.

Which of the following is an example of the cultural and social environment?

Portfolio management:

Many people think that it is unethical to spy on competitors to obtain their trade secrets, but it is perfectly legal.

Which of the following is a QUALITATIVE screening criterion for evaluating opportunities?

General Electric's "strategic planning grid":

The first and most important question to ask when evaluating product-market opportunities is:

In which of the external environments do changes usually occur most slowly?

The marketing manager for Lucky Grains cereals is forecasting potential lifetime sales, costs, and profitability for a potential new product -- Lucky Rice Squares. The marketing manager is using ____ to evaluate this opportunity.

Portfolio management tends to emphasize current profitability and return on investment, often neglecting the long run.

The _____ _____ prohibits monopoly or conspiracy in restraint of trade.

When the competitive environment moves toward pure competition, producers offer very different products that consumers do not perceive as substitutes for each other.

Increased demand for new homes due to low interest rates is an example of the impact of the ___________ environment.

According to the "continuum of environmental sensitivity," which of the following types of products are less sensitive to environmental changes?

The Federal Trade Commission Act of 1914 focuses on:

When Minwax informs consumers that its brand will save time when finishing wood, the company is stressing:

A patent owner has a 20-year monopoly to develop and use its new product, process, or material.

Sustainability, as a screening criteria, supports the idea of focusing completely on the company's present needs.

The Consumer Product Safety Commission

When using screening criteria to evaluate opportunities: