Question 1

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

The answer of Due to limited resources,a consumer decided to...

Question 2

____ 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.

Question 3

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

Accepted Answer

When a firm produces a product that has no close substitutes, it is the only supplier of that product in the market. This is known as a monopoly.

Question 4

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

The process described is environmental analysis, which involves gathering information about the marketing environment, defining current and potential changes, and identifying opportunities and threats. Environmental scanning and survey of environment are components of environmental analysis, but they do not encompass the entire process. Marketing and marketing information processing are broader terms that include many different activities beyond environmental analysis.

Question 5

The textbook suggests that the best approach a firm can take in responding to marketing environmental forces is

Accepted Answer

The answer of The textbook suggests that the best approach...

Question 6

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. This means they actively seek to shape and alter the forces impacting their business instead of simply reacting to them.

Question 7

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 100 percent recyclable and fuel-conserving aluminum car bodies is a proactive response to environmental forces. It shows that Toyota is taking proactive steps to reduce their environmental impact and stay ahead of potential regulations related to fuel efficiency and sustainability.

Question 8

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

Accepted Answer

Saturn SKY is not a sport utility vehicle and therefore not a competitor at the same product level as Ford's Expedition SUV. The other options (Enterprise car rental, Harley Davidson motorcycle, Schwinn mountain bike, and taxi cab ride) are not direct competitors to the Ford Expedition but may compete for consumer spending in other ways (such as transportation services or recreational vehicles).

Question 9

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 10

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 on...

Question 11

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 12

Although Matt's company engages in environmental scanning and analysis,he feels more comfortable changing his policies and strategies to adapt to environmental forces rather than trying to influence these forces.Matt has a(n)____ approach to marketing environmental forces.

Accepted Answer

Matt's approach is reactive since he is only changing his policies and strategies in response to environmental forces rather than taking proactive steps to influence these forces.

Question 13

Marketers primarily focus their environmental analysis on ____ competitors.

Accepted Answer

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

Question 14

____ 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 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 marketers are simply responding to political forces as they occur, rather than trying to anticipate or influence them. This suggests a more passive, defensive approach rather than an active, strategic one.

Question 16

Mixed Concrete 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 the only supplier within a specific area, indicating it has no competition in that region, which is characteristic of a monopoly.

Question 17

____ 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 18

The four major competitive structures are

Accepted Answer

The four major competitive structures are monopolies, oligopolies, monopolistic competition, and pure competition, as defined in economic theory. Choice D lists these four structures accurately.

Question 19

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

Accepted Answer

Defining the target market involves identifying the group of customers who are most likely to buy the company's product or service. In doing so, marketers also identify the competitors who are targeting the same group of customers, and therefore establish a set of competitors.

Question 20

Which of the following would represent a brand competitor for Ford's Escape Hybrid sport utility vehicle?

Accepted Answer

Toyota's Highlander Hybrid represents a direct competitor to Ford's Escape Hybrid as they are both hybrid sport utility vehicles in the same price range and market segment. Honda Pilot is also a sport utility vehicle, but it does not have a hybrid option, and Honda Civic Hybrid is a smaller car in a different market segment. Taxi ride and Chevrolet Tahoe rented from Avis are not competitors as they are not in the same market segment and are not hybrid vehicles.

Quiz 3: The Global Marketing Environment