Question 1

Marketers who attempt to influence and change the various environmental forces have a(n) ____ response to these forces.

Accepted Answer

Marketers who attempt to influence and change environmental forces have a proactive response to these forces, meaning they take action and try to affect change rather than simply reacting to the situation.

Question 2

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) ____ approach to marketing environmental forces.

Accepted Answer

Silk Soymilk's approach is reactive because they are responding to environmental forces instead of trying to influence them in a proactive manner.

Question 3

When marketers define their target market, they simultaneously establish a set of

Accepted Answer

When marketers define their target market, they need to consider their competitors in order to position their product or service effectively in the marketplace.

Question 4

Toyota has developed aluminum car bodies that are 100 percent recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?

Accepted Answer

Toyota's development of aluminum car bodies that are recyclable and fuel-efficient demonstrates a proactive response to environmental forces. They are taking action to address environmental concerns before they become regulatory requirements or consumer demands.

Question 5

Companies delivering mixed concrete know that it cannot be shipped farther than twenty-five miles because the concrete might harden in the truck. Citrus County Concrete Company is the only supplier of mixed concrete to customers within a thirty-mile radius. Citrus County Concrete is an example of which one of the following competitive structures?

Accepted Answer

Citrus County Concrete Company is a monopoly because it is the only supplier of mixed concrete within a specific geographic area, giving it exclusive control over the market in that region.

Question 6

____ competitors provide very different products that satisfy the same basic customer need.

Accepted Answer

Generic competitors provide different products but serve the same basic need. For example, aspirin and ibuprofen are generic competitors as they both serve the basic need of pain relief, but are different products.

Question 7

Companies that market products with similar features, benefits, and prices to the same customer group are known as ____ competitors.

Accepted Answer

Brand competitors are those that offer similar products or services with comparable features and prices within the same market segment or industry, targeting the same customer group.

Question 8

After Home Depot gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes. This determines possible opportunities and threats facing the company. It illustrates the process that is called

Accepted Answer

Environmental scanning is the process of gathering information related to the marketing environment. Survey of environment and marketing information processing are not recognized terms in the field of marketing. Environmental analysis is the process of defining current environmental changes and predicting future changes to identify opportunities and threats.

Question 9

Companies that compete for the same limited financial resources of the same customers are known as ____ competitors.

Accepted Answer

The answer of Companies that compete for the same limited...

Question 10

The type of competitive structure that exists in the case where there are almost no substitutes for a product is a(n)

Accepted Answer

A monopoly exists when there are no close substitutes for a product or service. This means that the company has complete control over the market and can set prices as they see fit.

Question 11

____ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.

Accepted Answer

Brand competitors are considered the most significant to marketers because their products are seen as direct substitutes for each other by buyers, indicating a direct competition in the same product category or brand space.

Question 12

Which of the following is not at the generic competitor level for Ford's Expedition sport utility vehicle?

Accepted Answer

The answer of Which of the following is not at...

Question 13

Marketers primarily focus their environmental analysis on ____ competitors.

Accepted Answer

The answer of Marketers primarily focus their environmental analysis on...

Question 14

The American automobile industry was historically dominated by "The Big Three," referring to General Motors, Ford, and Chrysler. However, as many more foreign competitors began influencing this market, the American companies had to modify and differentiate their products. The automobile industry moved from a(n) ____ structure to a(n) ____ structure.

Accepted Answer

The automobile industry was dominated by a few large firms (GM, Ford, Chrysler) which is characteristic of oligopoly. However, with the entry of more foreign competitors, the American companies had to modify and differentiate their products to compete, which is characteristic of monopolistic competition. Therefore, the industry moved from an oligopolistic structure to a monopolistic competition structure.

Question 15

Marketers who view political forces as being beyond their control are taking a(n) ____ response toward these forces.

Accepted Answer

A reactive response means that the marketer is responding to the political forces after they have already occurred. In this case, the marketer views the political forces as beyond their control and is simply reacting to them as they arise. This approach is not proactive and may result in missed opportunities or a negative impact on the marketing efforts.

Question 16

The four major competitive structures are

Accepted Answer

The four major competitive structures are oligopolies, monopolies, monopolistic competition, and pure competition. This is the commonly accepted and taught classification in economics and business courses.

Question 17

What type of competitive structure exists when a firm produces a product that has no close substitutes?

Accepted Answer

A firm that produces a product with no close substitutes has complete control over the market and is the sole provider of the product. This is known as a monopoly.

Question 18

In today's marketing environment, competitors can take on many forms. For example, Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum. In this circumstance, these two products are described as ____ competitors.

Accepted Answer

The answer of In today's marketing environment, competitors can take...

Question 19

Due to limited resources, a consumer decided to serve Hawaiian Punch to a New Year's Eve party crowd instead of Korbel champagne. As a result of this action, Korbel and Hawaiian Punch can be viewed as ____ competitors.

Accepted Answer

Generic competitors are those that satisfy the same basic need or want, even if they are not the same type of product. In this case, both Hawaiian Punch and Korbel champagne serve the purpose of providing a beverage for a party, making them generic competitors.

Question 20

____ competitors are those that compete in the same product class, but their products have different features, benefits, and prices.

Accepted Answer

Competitors with different features, benefits, and prices refer to products competing within the same product class. Therefore, the best choice would be product. Total budget refers to competitors for a limited budget, generic competitors do not have unique features, brand competitors are based on consumer perception, and price competitors have similar products with similar features and benefits.

Quiz 3: The Marketing Environment