Chapter 3 Assignment - Part 2

The process of collecting information about forces in the marketing environment

• Environmental Scanning

• Environmental Analysis

• Competition

• Monopolistic competition

The process of accessing and interpreting the information gathered through environmental scanning

• Monopoly

• Environmental Analysis

• Environmental Scanning

• Buying Power

Other firms that market products that are similar to or can be substituted for a firm’s products in the same geographic area

• Monopolistic Competition

• Oligopoly

• Monopoly

• Competition

A competitive structure in which an organization offers a product that has no close substitutes, making that organization the sole source of supply

• Oligopoly

• Monopoly

• Monopolistic Competition

• Pure Competition

Resources—such as money, goods, and services—that can be traded in an exchange

• Buying Power

• Better Business Bureau (BBB)

• Federal Trade Commission (FTC)

• Willingness to Spend

A self-regulatory unit that considers challenges to issues raised by the National Advertising Division

Evaluate responses using AI:

OFF

Answer explanation

National Advertising Review Board (NARB)

What is the application of knowledge and tools to solve problems and perform tasks more efficiently

Evaluate responses using AI:

OFF

Answer explanation

Technology

Social responsibility – An organization’s obligation to maximize its positive impact and minimize its negative impact on society

• True

• False

Ethical issue-the adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders

• True

• False

An ... problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong, ethical or unethical