Question 1

Jonathan works for a firm that assists companies in promoting, distributing, and selling their products to end consumers. The firm Jonathan works for is a ________.

Accepted Answer

The given description of Jonathan's firm matches the definition of a marketing intermediary, which is a business that helps to move goods or services from the manufacturer to the end consumer.

Question 2

LandPort Transportation and Omega Warehousing help companies move and stock goods from their manufacturing plants to their destinations. These two businesses are examples of ________.

Accepted Answer

LandPort Transportation and Omega Warehousing are examples of physical distribution firms, which are responsible for moving and storing goods from the manufacturer to the final consumer.

Question 3

Which of the following is a component of a firm's microenvironment?

Accepted Answer

Marketing intermediaries, such as retailers and wholesalers, are part of a company's microenvironment because they directly impact the firm's ability to reach and sell to customers. Customer demographics, population shifts, and technological changes are part of the firm's macroenvironment, while economic recessions can be considered both part of the macro and microenvironments depending on their direct impact on the specific company.

Question 4

Boxes, Inc. sells products to end users or to other companies that will sell to end users. Boxes, Inc. is a ________.

Accepted Answer

Boxes, Inc. is a reseller because it sells products to end-users or to other companies that will sell to end-users.

Question 5

________ help companies stock and move goods from their points of origin to their destinations.

Accepted Answer

Physical distribution firms specialize in the movement and storage of goods from their point of origin to their final destination. They include companies that provide transportation, warehousing, and logistical services to other businesses. Retailers, resellers, suppliers, and marketing services agencies do not necessarily focus on this aspect of business operations.

Question 6

Sparex Inc. is a manufacturer of metal bolts that are used by Boilex Inc. to manufacture heavy machineries. In this instance, Sparex acts as a ________.

Accepted Answer

Sparex Inc. is the manufacturer of the metal bolts supplied to Boilex Inc. Therefore, they are acting as a supplier.

Question 7

Which of the following terms is used to describe the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?

Accepted Answer

The marketing environment refers to the external factors such as social, economic, technological, political, and legal forces that affect marketing management's ability to build and maintain successful relationships with target customers.

Question 8

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.

Accepted Answer

The demographic, economic, political, and cultural forces are external factors that affect an organization and make up the macroenvironment. Therefore, Sam has been directed to study the macroenvironment of the organization.

Question 9

Which of the following groups influences the company's ability to obtain funds?

Accepted Answer

Financial publics, such as investors, banks, and financial institutions, directly impact a company's ability to obtain funds. They provide the necessary capital for companies to operate and grow. The other publics listed do not have as direct of an impact on a company's ability to obtain funds.

Question 10

A company's marketing decisions may be questioned by consumer organizations, environmental groups, minority groups, and others. These organizations and groups are also known as ________.

Accepted Answer

Citizen-action publics are external groups that may question a company's marketing decisions, such as consumer organizations, environmental groups, minority groups, and others. The other options, media publics, marketing intermediaries, customers, and internal publics, do not necessarily question a company's marketing decisions in the same way as citizen-action publics.

Question 11

A consumer organization in Ohio has challenged the marketing decision of a local firm alleging it to be against the larger social interest. In this instance, the firm is challenged by a(n) ________ public.

Accepted Answer

The description of the situation -where a consumer organization is challenging a local firm's marketing decision- indicates that this is an example of citizen-action publics. Citizen-action publics are groups of individuals who band together to protest against a company, its products, or its actions, either in-person or online. In this case, the consumer organization is taking action to challenge the firm's decision, which is consistent with the definition of citizen-action publics.

Question 12

Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company.

Accepted Answer

The forces close to the company that affect its ability to serve its customers, such as suppliers, marketing intermediaries, customer markets, competitors, and publics, are all part of the microenvironment. The macroenvironment includes larger societal forces such as demographic, economic, political, legal, technological, and cultural forces.

Question 13

Which of the following is true with regard to media publics?

Accepted Answer

Media publics refer to individuals and organizations that receive and interpret messages from the media. Hence, they carry news, features, and editorial opinions to the wider public.

Question 14

The interrelated departments within a company that influence marketing decisions form the ________ environment.

Accepted Answer

The interrelated departments within a company that influence marketing decisions are part of the company's internal environment. This includes departments such as sales, finance, operations, and human resources, which all have an impact on marketing decisions. The other options (cultural, economic, political, and technological) refer to external environmental factors that also impact marketing decisions, but they are not specifically related to a company's internal departments.

Question 15

Which is NOT part of the company environment that influences marketing decisions?

Accepted Answer

The answer of Which is NOT part of the company...

Question 16

________ provide the resources needed by a company to produce its goods and services.

Accepted Answer

Suppliers provide raw materials, equipment, and other resources needed by a company to produce its goods and services. Retailers sell the finished products to consumers, marketing services agencies help companies promote their products, resellers buy products in bulk and sell them to other businesses, and financial intermediaries provide financial services such as loans and investment opportunities.

Question 17

Companies can succeed against their competitors by all of the following except ________.

Accepted Answer

Providing the same product as the competition does not allow the company to differentiate itself and create a competitive advantage. The other options (providing greater customer value and satisfaction, better meeting the needs of target customers, positioning their offerings strongly against competitors' offerings in the minds of consumers, considering their own size and position compared to the competition) are all important strategies for a company to succeed and gain an advantage over its competitors.

Question 18

________ include banks, credit companies, insurance companies, and other businesses that help insure against the risks associated with the buying and selling of goods.

Accepted Answer

Financial intermediaries such as banks, credit companies, and insurance companies help manage risks associated with buying and selling goods by providing financial services that mitigate the impact of these risks.

Question 19

Which group includes neighborhood residents and community organizations?

Accepted Answer

Neighborhood residents and community organizations are considered local publics because they are directly impacted by the organization's actions and are located in close proximity to the organization.

Question 20

Maria works for Sigma Inc., a firm that helps companies target and promote their products to the right markets. Sigma is most likely a ________.

Accepted Answer

Sigma Inc. specializes in marketing services, which involves helping companies promote their products in the right markets. This makes them a marketing services agency.

Quiz 3: Analyzing the Marketing Environment