Scanning The Marketing Environment

The process of continually acquiring information on events occurring outside the organization to identify and insterpret potential trends is called: 

• Environmental Changes

• Environmental Scanning

• Marketing Opps

• Environmental Trends

Environmental trends typically arise from five sources: social, economic, technological, competitive, and regulatory forces. 

• TRUE

• FALSE

Which of these forces of the environment include the demographic characteristics of the population and its culture? Changes in these forces can have a dramatic impact on marketing strategy.

• Economic Forces

• Technological Forces

• Competitive Forces

• Social Forces

Combinations of the marketing mix that reflect the unique attitudes, ancestry, communication preferences, and lifestyles of different races.

• Evolving Marketing

• Global Marketing

• Marketing Diversity

• Multicultural Marketing

Culture doesn’t incorporate the set of values, ideas, and attitudes that are learned and shared among the members of a group. Because many of the elements of culture influence consumer buying patterns, monitoring national and global cultural trends is important for marketing.

• TRUE

• FALSE

The ____________ pertains to the income, expenditures, and resources that affect the cost of running a business and household. We’ll consider two aspects of these economic forces: a macroeconomic view of the marketplace and a microeconomic perspective of consumer income.

• Economy

• Macroeconomic Conditions

• Microeconomic Conditions

• Inflationary Economy

The total amount of money made in one year by a person, household, or family unit is referred to as __________

• Discretionary Income

• Consumer Income

• Gross Income

• Disposable Income

Disposable income is the money that remains after paying for taxes and necessities

• TRUE

• FALSE

In developing a marketing program, companies must consider the factors that drive competition: entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities.

• TRUE

• FALSE

Consists of restrictions state and federal laws place on business with regard to the conduct of its activities.

• Economic Forces

• Competitive Forces

• Technological Forces

• Regulatory Forces