Exam 3: Evaluating Opportunities in the Changing Marketing Environment

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

The Consumer Product Safety Act provides for the creation of safety standards but has no power to set penalties for failure to meet these standards.

The elimination of separate barriers to inter-European trade is making Europe a large unified market.

A mission statement substitutes for more specific objectives.

Setting objectives and strategies for the whole company is a job performed by:

In a _____________ situation, competitors offer very similar products which customers see as close substitutes, and managers just compete with lower and lower prices as profit margins shrink.

The marketing manager can control the variables in the market environment.

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "medium" in terms of business strengths would be evaluated as:

Generation X refers to:

Which of the following U.S. antimonopoly laws deals with conspiracy to fix prices?

A mission statement sets out the organization's basic purpose for being.

The direct market environment

Marketers no longer encounter differences among European countries.

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.

Nike claims in its Annual Report that "the reasons every NIKE employee comes to work every day is to create great product, to lead the athletic industry in innovation, and to serve the athlete." This is Nike's:

Low consumer spending and a lack of adequate financing are conditions that arise mostly due to factors in:

Gen X is less educated than previous generations.

Gen Y is the result of the echo boom and its members are more techno-savvy than any other group.

Screening criteria should be in quantitative form-based on factors such as profit and expected sales-so that they are objective and not subject to qualitative judgments and interpretations by different managers.

Women's changing role has created opportunities for marketing but also complications.