Question 1

In a PRESTCOM analysis, under which heading would a change in the provisions of the Sale of Goods Act be placed?&#10;A) Political&#10;B) Regulatory&#10;C) Social&#10;D) Customer&#10;E) Marketing

Accepted Answer

Changes in the provisions of the Sale of Goods Act are related to laws and regulations, hence they fall under the Regulatory category in a PESTLE analysis.

Question 2

What is the correct term for an economy that is growing, in a country with full employment, and with high business confidence in the future despite rising prices?&#10;A) Bomb&#10;B) Bust&#10;C) Upturn&#10;D) Swing&#10;E) Mixed

Accepted Answer

An upturn in the economy refers to a period where economic activity is increasing, characterized by full employment, high business confidence, and often accompanied by rising prices. This term accurately describes a growing economy under the conditions mentioned.

Question 3

Britain has an ageing population. This trend would be identified as part of which PRESTCOM environment?&#10;A) Political&#10;B) Regulatory&#10;C) Social&#10;D) Environmental&#10;E) Market

Accepted Answer

An ageing population is a demographic trend, which falls under the Social category in the PRESTCOM analysis, as it relates to societal changes and trends.

Question 4

In a SWOT analysis, which two elements are part of the internal environment?&#10;A) Strengths and threats&#10;B) Opportunities and threats&#10;C) Strengths and opportunities&#10;D) Weaknesses and strengths&#10;E) Weaknesses and threats

Accepted Answer

In a SWOT analysis, the internal environment of an organization is represented by its Strengths and Weaknesses, which are factors that are within the organization's control.

Question 5

The first stage of a SWOT analysis is to identify relevant variables and classify them under the SWOT headings. What is the follow on stage?&#10;A) Ranking the variables in order of importance to the organisation&#10;B) Organising the variables alphabetically&#10;C) Prioritising the variables according to their associated costs&#10;D) Classifying the variables according to PRESTCOM&#10;E) Identifying the easiest variables to deal with

Accepted Answer

The follow-on stage after identifying relevant variables in a SWOT analysis involves ranking these variables in order of importance to the organization. This helps in focusing efforts on the most critical areas for improvement or leverage.

Question 6

Imagine you are conducting a SWOT analysis for a British manufacturer who exports to Thailand. If the Thai currency becomes unstable, which category would you place that in for your analysis?&#10;A) Opportunity&#10;B) Weakness&#10;C) Economic&#10;D) Strength&#10;E) Threat

Accepted Answer

The instability of the Thai currency represents a potential risk or negative impact on the British manufacturer's ability to export to Thailand, making it a Threat in the SWOT analysis.

Question 7

Identify a close competitor for Walker's crisps.&#10;A) Golden Wonder crisps&#10;B) Nobby's nuts&#10;C) Mashed potato&#10;D) Coca Cola&#10;E) Sunflower oil

Accepted Answer

The answer of Identify a close competitor for Walker's crisps.&#10;A)...

Question 8

What do the three Cs of international marketing environmental analysis stand for?&#10;A) Country currency culture&#10;B) Competition costs culture&#10;C) Culture costs climate&#10;D) Country climate competition&#10;E) Currency climate costs

Accepted Answer

Country, culture, and currency are the three Cs of international marketing environmental analysis.

Question 9

What is the general term given to any group or individual who can affect, or is affected by, an organisation's activities?&#10;A) Shareholders&#10;B) Pressure groups&#10;C) Unions&#10;D) Stakeholders&#10;E) Board members

Accepted Answer

Stakeholders are any group or individual who can affect or be affected by an organization's activities, encompassing a wide range of entities including shareholders, employees, customers, suppliers, and more.

Question 10

Often, the first significant company to move into a market becomes the market leader. What is the term for this?&#10;A) First come first served&#10;B) First mover advantage&#10;C) Market first&#10;D) Last in first out&#10;E) Organisational first

Accepted Answer

First mover advantage refers to the competitive advantage gained by the first significant company to move into a market, often allowing it to establish strong brand recognition and customer loyalty before rivals enter the scene.

Deck 2: Marketing Environment