Topic 3 SMM

Two sociocultural trends of particular relevance today are greater interest in ethical behavior by businesses and a greater consciousness regarding fitness and nutrition.

• True

• False

An industry’s long term attractiveness can best be judged by analyzing the five major competitive forces identified by Porter

• True

• False

 In retailing, location is a crucial success factor.

• True

• False

A(n) _____ consists of a group of firms that offer a product or class of products that are similar and are close substitutes for one another.

• industry

• marketing channel

• market

• distribution chain

The micro-level analyses of markets and industries mainly focus upon:

• A. economic factors affecting the market

• B. demographic factors affecting the market.

• C. sociocultural factors affecting the market.

• D. individuals in a market or industry.

The rise of Internet retailing and Internet telephony has policy makers arguing over the degree to which these Internet activities should be subject to state and federal tax in the country. Such a trend is related to the:

• A. sociocultural environment.

• B. regulatory environment.

• C. transitory environment.

• D. demographic environment.