Marketing Chapter 2

Internal characteristics that place the business at a disadvantage relative to others is called a

• Opportunity

• Strength

• Weakness

• Threat

Used to describe a framework for the analysis of macro-environmental factors:

• 3 C's of Marketing

• PEST Analysis

• SWOT Analysis

• Case Analysis

Which of the following SWOT elements are internal factors for a business?

• Strengths and Opportunities

• Strengths and Weaknesses

• Opportunities and Threats

• Weaknesses and Threats

Which U.S. ethnic population is declining, relative to other ethnic populations?

• African-American

• Asian-American

• Hispanic

• Caucasian

Pest analysis

• is analyzing a large group into smaller, precise groups based on characteristics

• analysis of inside influences on an organization

• alerts business to changes in laws and regulations

• is the analysis of political, economic, socio-cultural and technological areas surrounding a business

Which of the following questions would be considered helpful when looking at the competition aspect of internal analysis?

• Are competitors taking business away? Why?

• How are adjustments made in production due to an increase or decrease in company sales?

• What is the quality of the staff? Are there training and assessment programs?

• What is the company’s sales history?

Which of the following is not an aspect on PEST analysis?

• Technology

• Potential Threats

• Economic

• Socio-cultural

In a SWOT analysis, the O stands for

• Outcomes

• Other

• Opportunities

• Options

Internal characteristics that place the business at a disadvantage relative to others is called a

• Opportunity

• Strength

• Threat

• Weakness

'People spend several hours a day on their phones' is a ________ for App makers

• Threat

• Strength

• Opportunity

• Weakness