Question 1

Coupons and sales are frequently used marketing tactics in which form of competition?

Accepted Answer

Coupons and sales are commonly used marketing strategies in monopolistic competition, where firms try to differentiate their products from competitors through advertising and promotions. In an oligopoly, a small number of firms dominate the market and may collude to maintain high prices, making coupons and sales less likely. Cross-market competition involves firms competing in unrelated markets, while pure competition involves many small firms offering identical products, which may not lend itself well to coupons and sales.

Question 2

The competition between McDonald's, Wendy's, and Burger King is known as which form of competition?

Accepted Answer

The answer of The competition between McDonald's, Wendy's, and Burger...

Question 3

Distribution (in the sense of shipping products)is particularly important to which form of competition?

Accepted Answer

The answer of Distribution (in the sense of shipping products)is...

Question 4

Office Depot has developed wireless, handheld computers for its staff. When customers inquire about a product, a computer-equipped sales associate can pull Detailed information on products right out of the corporate database. Employees at one store can contact employees at another store for advice or information. This is an Example of how________ can be used to enhance marketing.

Accepted Answer

This scenario describes the use of an intranet, which is a private network accessible only by an organization's staff. It allows employees to access and share corporate information securely within the company, enhancing internal communication and efficiency in responding to customer inquiries.

Question 5

A broad concept that includes all electronic-based company activities, both within and outside the company is known as a

Accepted Answer

E-business is a broad concept that includes all electronic-based company activities, both within and outside the company.

Question 6

The competitive situation where the LCBO operates in is known as a(n):

Accepted Answer

The LCBO operates in a monopoly, as it is the only legally authorized retailer of alcoholic beverages in the province of Ontario.

Question 7

P&G uses an online collaborative tool to discuss confidential feedback on new product ideas for their employees spread across the country. P&G is using:

Accepted Answer

P&G is using intranets, which are private networks accessible only to an organization's staff, to securely share confidential information internally.

Question 8

When assessing which fast-food restaurant to eat a hamburger at, you are essentially assessing the _________ in the fast-food market.

Accepted Answer

Assessing which fast-food restaurant to eat a hamburger at involves considering the competition within the fast-food market. This includes factors such as the quality and price of the hamburgers, the branding and reputation of the restaurant, and the variety and availability of menu options. It is important to consider the competition in order to make an informed decision and select the best option.

Question 9

The competitive industry where Ford, GM, and Toyota operate in can best be described as:

Accepted Answer

The industry where Ford, GM, and Toyota operate in is an oligopoly, as there are only a few dominant players controlling the majority of the market share. This is characterized by intense competition, with price wars and marketing battles being common.

Question 10

Kodak, Fuji, and Agfa control the majority of sales for amateur photographic film. This exemplifies the competitive situation called:

Accepted Answer

An oligopoly is a market situation where a small number of companies control the majority of sales for a particular product or service. In this case, Kodak, Fuji, and Agfa have a dominant market share in the amateur photographic film industry, which makes it an example of an oligopoly.

Question 11

Ralph Moore enjoys soft drinks. He prefers the Seven-Up lemon and lime beverage. He has heard rumours that the Seven-Up Company will be bought out by one of the
Industries two leading and market dominant competitors. Further, he has heard that if that happens, the Seven-Up brand soft drink will be eliminated since it competes with the competitor's main lemon and lime offering. What Ralph is experiencing are
Developments that are most likely to take place within which type of competitive environment?

Accepted Answer

Ralph is experiencing developments that are most likely to take place within an oligopoly competitive environment. In an oligopoly, there are only a few dominant firms that control the market and can easily influence prices and market trends. This makes it easier for a dominant firm to eliminate a competing brand, especially if it overlaps with their own product offerings.

Question 12

Before UPS and FedEx became prominent, Canada Post operated in what type of competition environment?

Accepted Answer

Canada Post had a monopoly on postal services in Canada before UPS and FedEx entered the market.

Question 13

Which of the following products would most likely be sold through pure competition?

Accepted Answer

Wheat is a commodity that is traded on commodity exchanges and involves a large number of buyers and sellers, making it a classic example of a product that is sold through pure competition.

Question 14

CanWest MediaWorks and Rogers Wireless have even launched a new TV-type service for users of Blackberry devices, called BbTV. Consumers received 30- to 90-second clips from Global TV and Rogers Sportsnet sandwiched between five-second ads. This is one way that ________forces have jointly influenced
Marketers.

Accepted Answer

The launch of BbTV by CanWest MediaWorks and Rogers Wireless, providing TV-type services on Blackberry devices, illustrates how technological advancements (in mobile and broadcasting technologies) and competitive forces (companies seeking to differentiate and capture market share) have jointly influenced marketers to innovate and adapt their strategies.

Question 15

At Procter & Gamble, a Web-based information-sharing network facilitates the collection and evaluation of new product ideas from the company's 110,000 employees. This is an example of how________ can be used to enhance marketing.

Accepted Answer

The Web-based information-sharing network used by Procter & Gamble is an example of an intranet, which is a private network accessible only to internal employees of an organization. In this case, the intranet is used to enhance marketing by allowing employees to share and evaluate new product ideas, which can then be developed into successful marketing campaigns.

Question 16

The marketing component of e-commerce is also known as online marketing and:

Accepted Answer

The marketing component of e-commerce is commonly referred to as online marketing or e-marketing. This includes the use of various digital channels such as websites, social media, email, mobile apps and search engines to promote, advertise and sell products or services online. A, C, and D are not accurate descriptions of the marketing component of e-commerce.

Question 17

Most of the catalogue retailers during the 2007 Christmas season offered buyers price reductions, coupons, two-for-one buying opportunities and/or free delivery. This is because these catalogue retailers operate in:

Accepted Answer

Catalogue retailers operate in monopolistic competition because they offer similar products but differentiate themselves through advertising, product variety, and promotions such as price reductions, coupons, and free delivery. This allows them to set their prices and have some control over their market share in the industry.

Question 18

Marketing generally plays a small role in which competitive situation?

Accepted Answer

The answer of Marketing generally plays a small role in...

Question 19

The competitive situation where Bell Canada, Rogers Wireless, and Telus Mobility control over 90 percent of the mobile phone market is called a(n):

Accepted Answer

An oligopoly is a market structure in which a few large firms dominate the industry. In this case, Bell Canada, Rogers Wireless, and Telus Mobility control over 90 percent of the mobile phone market, indicating an oligopoly market structure.

Question 20

Paul Avery is a salesperson at the only Ford automobile dealership in Winnipeg, Manitoba. However, there are several other auto dealerships in town, offering both
Domestic and foreign cars and trucks. Paul works hard to keep his customers satisfied because he knows that if his customers are unhappy, they can simply buy a car from one of the many other comparable dealers in Winnipeg. This is an example of:

Accepted Answer

Monopolistic competition is a market structure where there are many firms offering similar products or services, but each firm has some degree of control over its price and quality. In this scenario, Paul Avery is a salesperson at the only Ford automobile dealership in Winnipeg, meaning that there are other dealerships offering both Domestic and foreign cars and trucks, which makes it a monopolistic competition. Paul works hard to retain his customers as if they are unhappy with his services or prices, they can simply switch to the services of another dealership.

Quiz 3: Scanning the Marketing Environment