Exam 3: Evaluating Opportunities in the Changing Marketing Environment

Laws such as the Pure Food and Drug Act were passed because pro-competition legislation did not protect consumers very well in some areas.

The largest producer of "fuzz-busters" (radar detectors) sees that many states are increasing the penalty for using them. Clearly, this firm's marketing strategy may have to adapt to these changes in the

The major shortcoming of competitor analysis is that it focuses on the weaknesses of competitors-but ignores their strengths.

When planning a marketing strategy, managers have control over:

Gross national income (GNI):

Objectives should set the firm's course.

A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.

Regarding population density in the world,

The way in which an economy's resources are converted to output is part of the _______________ environment.

Marketers should be aware of federal legislation, as well as state and local laws, when planning marketing strategy.

A first step in evaluating marketing opportunities is to:

The General Electric "strategic planning grid" forces company managers to make three-part judgments (high, medium, and low) about the business strengths and industry attractiveness of all proposed or existing product-market plans.

Because almost all of the world's population can read and write, international marketers have no problems in communicating with potential customers no matter where they live.

The Magnuson-Moss Act of 1975 focuses on which of the four Ps?

The total market value of goods and services provided in a country's economy per year by both residents and nonresidents of that country is:

AT&T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones. Availability and popularity of cellular phones is most likely due to changes in the ____________ environments.

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

The Magnuson-Moss Act regulates product warranties.

Baby boomers were born:

Over the long run, most product-markets tend toward monopolistic competition.