Chapter 3 Marketing Review

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

• True

• False

Brand competitors market products with similar features, benefits, and prices to the same customers.

• True

• False

A monopoly exists when a firm with many potential competitors attempts to develop a marketing strategy to differentiate its products.

• True

• False

Through technology assessment, managers try to foresee the effects of new products and processes on the firm's operations and on society.

• True

• False

Social responsibility is an organization's obligation to maximize its positive impact and minimize its negative impact on society.

• True

• False

Four dimensions of social responsibility are economic, legal, ethical, and philanthropic.

• True

• False

The Federal Trade Commission would be the most likely regulatory agency to curb false advertising.

• True

• False

Zappos 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

• marketing

• survey of environment

• environmental scanning

• environmental analysis

Ennis Communications is concerned about how the increasing use of smartphones will affect the future ad sales of its radio stations. The company decides to gather information about the changing trends in music access and delivery to prepare for this trend. Ennis Communications’ process is called

• environmental forces evaluation

• environmental assessment

• environmental scanning

• environmental analysis

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

• scanning

• monitoring

• assessment

• analysis