Question 1

Environmental analysis helps managers identify potential threats and opportunities linked to environmental changes.

Accepted Answer

Environmental analysis is a process that helps managers to identify potential threats and opportunities linked to environmental changes, including social, economic, technological, and regulatory changes. This analysis is particularly important for companies that are trying to develop or implement sustainable strategies that will help them to respond effectively to changing market conditions and emerging competitive threats. By examining the various factors that influence the company's operations and competitive environment, managers can develop a more accurate understanding of the risks and opportunities facing the organization and make informed decisions about the best course of action.

Question 2

To monitor changes in the marketing environment effectively, marketers must engage in

Accepted Answer

Environmental scanning and analysis involve tracking and analyzing trends, competitors, and other factors that can impact a company's marketing strategy. This is a necessary step to stay ahead of the curve and identify new opportunities or potential threats. Economic scanning, self-regulatory analysis, marketing research analysis, and information collecting can all be part of environmental scanning and analysis, but they are not sufficient on their own to monitor changes in the marketing environment effectively.

Question 3

SiriusXM Radio is concerned about how the increasing use of smartphones will affect the future sales of its satellite radio service. The company decides to gather information about the changing trends in music access and delivery to prepare for this trend. SiriusXM's process is called

Accepted Answer

SiriusXM is conducting an environmental scanning process which involves gathering information about the external environment and analyzing it to identify potential opportunities and threats. The company is specifically interested in the changing trends in music access and delivery, which is an important aspect of the external environment. Environmental scanning allows companies to stay up-to-date with the latest trends and adapt to changes in the market.

Question 4

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

The company is reacting to environmental forces rather than trying to influence them, indicating a reactive approach.

Question 5

Three primary methods of collecting information for environmental scanning are

Accepted Answer

Observation, secondary sources, and marketing research are the three primary methods of collecting information for environmental scanning. Observation involves directly observing and gathering information about the environment, while secondary sources refer to existing publications and data from other sources. Marketing research involves collecting and analyzing data on consumer behavior, market trends, and other factors that may impact the environment. Together, these three methods provide a comprehensive view of the environment and can help organizations stay informed and adapt to changing circumstances.

Question 6

According to the textbook, a manager's duties in an environmental analysis include

Accepted Answer

The textbook states that a manager's duties in an environmental analysis include checking information for accuracy, resolving inconsistencies, and assigning significance to the findings. This suggests that choice A is the best answer as it includes all three of these duties. Choices B, C, D, and E do not accurately reflect all of the duties mentioned in the textbook.

Question 7

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in

Accepted Answer

Environmental scanning involves collecting information from various sources to understand external factors that could impact an organization.

Question 8

Given a new brand of barbecue sauce for which to develop a marketing strategy, describe how you would conduct environmental scanning and analysis.

Accepted Answer

The answer of Given a new brand of barbecue sauce...

Question 9

When PepsiCo takes the information collected through research and attempts to assess and interpret what it means for its soft-drink marketing efforts, PepsiCo is engaged in environmental

Accepted Answer

Environmental analysis involves the process of collecting and interpreting data about the external environment, including market trends, competition, consumer behavior, and other factors that may affect a company's marketing efforts. PepsiCo is engaged in analyzing the information it has gathered through research, in order to better understand its market and develop more effective marketing strategies.

Question 10

Scenario 3.2 Use the following to answer the question.
Clayton Homes, a mobile home manufacturer since 1934, introduced its new i-House in 2007. The i-House is one of the first of its kind, designed as an updated, modern version of the modular home, offered as a base home plus add-ons known as "pods." The base home is a one-bedroom, one-bath, 734-square-foot version at a price of around $80,000. There is also a 1,000-square-foot version for around $100,000. All versions may add on the additional one-room pods, which are shipped to your location and constructed on site. The homes offer galvanized metal roofing, corrugated steel siding, VOC-free paints, and a "butterfly" roof that collects rainwater. The i-House uses 30% less energy than a similar square-foot home and offers "green" characteristics of solar panels, tankless water heaters, and low-flow faucets. In addition, it comes with bamboo flooring, a renewable resource. The modular, prefabricated design offers endless options for creating the customer's home, and its engineered building system cuts down on construction waste. Due to the "green effects" of the i-House, the state governments have given it a tax abatement for any sales taxes.
Refer to Scenario 3.2. The i-House's reduction of energy use, renewable resources as materials, "pod" customization, reduction of construction waste, and tax abatement status is/are examples of reaction to which environmental forces?

Accepted Answer

The i-House's features and characteristics are examples of reaction to multiple environmental forces, including political (tax abatement status), economic (reduction of energy use, reduction of construction waste), sociocultural (use of renewable resources, customization options), and technological (use of solar panels, tankless water heaters, low-flow faucets). Therefore, the best choice is E, as it includes all of these environmental forces.

Question 11

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

Accepted Answer

Toyota's development of 100% recyclable and fuel-efficient aluminum car bodies indicates a proactive response to environmental forces. They are actively taking steps to address environmental concerns before government regulations or customer demands force them to do so.

Question 12

In 2009 the Coca-Cola Company introduced the "Freestyler," a new freestanding soda dispenser where consumers can chose from over 120 different types of soda and customize their drinks. Freestylers would take the place of typical dispensers where there are only a few different types of soda brands available. In order to develop the new dispenser, Coca-Cola collected information on the soda-drinking habits of individuals in several different age groups, as well as information about new technologies for dispensing liquids from vending machines and the sales of its "fountain" syrup for national restaurant chains to use in their soda machines. Coca-Cola's collection of this information is an example of _____ while the assessment of its impact on the potential for the new "Freestyler" is an example of _________

Accepted Answer

Coca-Cola's collection of information on soda-drinking habits and new technologies for dispensing liquids from vending machines and sales of its "fountain" syrup is an example of environmental scanning, as it is the process of collecting information about the external environment. The assessment of the impact on the potential for the new "Freestyler" is an example of environmental analysis, which involves analyzing the gathered information to determine the implications for the organization's strategy. Therefore, option A is the correct answer.

Question 13

Sociocultural values include cultural values, demographics, and the impact of technology on society.

Accepted Answer

Sociocultural values typically include cultural values and demographics, but the impact of technology on society is generally considered a separate factor, often categorized under technological factors in analyses like PESTLE.

Question 14

The La-Z-Boy furniture company collects information about a wide variety of competitive, economic, political, legal and regulatory, technological, and sociocultural forces that affect its marketing activities. This process is called

Accepted Answer

Environmental scanning is the process of collecting information about the external environment that affects a company's marketing activities. This includes analyzing competitive, economic, political, legal and regulatory, technological, and sociocultural forces.

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 implies that the marketer is responding to external forces, in this case, political forces, instead of taking proactive measures to either mitigate or take advantage of these forces.

Question 16

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 the various environmental forces have a proactive response to these forces. They anticipate and take action to shape the environment rather than simply reacting to it. This approach allows companies to stay ahead of the competition and adapt to changes in the environment before they become threats.

Question 17

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

This process is called environmental analysis, which involves collecting information about the marketing environment, analyzing it, and predicting future changes to identify possible opportunities and threats facing the company. Environmental scanning is a part of this process, but it only refers to the initial gathering of information. A survey of the environment is not a recognized term, and marketing and marketing information processing are broader terms that encompass this process but do not specifically refer to environmental analysis.

Question 18

At the beginning of each of your marketing strategy team meetings, each team member gives a presentation on the current status of a key force in your company's marketing environment. The following brief presentations were given by your team members: John's presentation focused on the competitive forces in your industry.
Karen's presentation focused on the internal dynamics in your company.
Brandon's presentation focused on the political events emanating from Washington D.C.
Susan's presentation focused on what is driving the technology changes happening in the country.
Beverly's presentation focused on the most recent economic projections issued by the Federal Reserve Bank of New York.
After reviewing the presentations, you can conclude that

Accepted Answer

John spoke about the competitive forces, Karen spoke about the internal dynamics of the company, Brandon spoke about the political events from Washington D.C., Susan spoke about the driving technology changes happening in the country, and Beverly spoke about the most recent economic projections issued by the Federal Reserve Bank of New York. Therefore, Beverly focused on economic forces, and Susan focused on technological forces in the marketing environment.

Question 19

Scenario 3.2 Use the following to answer the question.
Clayton Homes, a mobile home manufacturer since 1934, introduced its new i-House in 2007. The i-House is one of the first of its kind, designed as an updated, modern version of the modular home, offered as a base home plus add-ons known as "pods." The base home is a one-bedroom, one-bath, 734-square-foot version at a price of around $80,000. There is also a 1,000-square-foot version for around $100,000. All versions may add on the additional one-room pods, which are shipped to your location and constructed on site. The homes offer galvanized metal roofing, corrugated steel siding, VOC-free paints, and a "butterfly" roof that collects rainwater. The i-House uses 30% less energy than a similar square-foot home and offers "green" characteristics of solar panels, tankless water heaters, and low-flow faucets. In addition, it comes with bamboo flooring, a renewable resource. The modular, prefabricated design offers endless options for creating the customer's home, and its engineered building system cuts down on construction waste. Due to the "green effects" of the i-House, the state governments have given it a tax abatement for any sales taxes.
Refer to Scenario 3.2.
The new Clayton Homes i-House product is a reflection of the company's attention to ____ in developing its strategy.

Accepted Answer

The i-House by Clayton Homes incorporates "green" characteristics and utilizes renewable resources, indicating the company's attention to environmental scanning and analysis in developing its strategy.

Question 20

The marketing environment consists of external forces that directly or indirectly influence an organization's acquisition of inputs and generation of outputs.

Accepted Answer

This statement defines the marketing environment accurately. It refers to the external factors outside of an organization's control that can impact its operations and performance. These factors can include economic, political, social, technological, and competitive forces.

Quiz 3: The Marketing Environment