1.Which of the following is not an element of the external market environment? a
ID: 456567 • Letter: 1
Question
1.Which of the following is not an element of the external market environment?
a.Technological environment
b.Direct environment
c.Economic environment
d.Cultural and social environment
e.Political and legal environment
2.When looking for attractive opportunities, a marketing manager for a clothing manufacturer should consider:
a.the firm’s capability to produce.
b.the firm’s financial strengths.
c.whether the firm has good relations with established clothing retailers.
d.the firm’s brand awareness.
e.all of the above.
3. _____ is a kind of competitive situation where at least some consumers see the marketing mixes being offered by firms as different.
a.Monopoly
b.Monopolistic competition
c.Pure competition
d.Oligopoly
e.Regulated competition
4.In order to identify potential competitors, it is important to take the viewpoint of _____ when conducting a competitor analysis.
a.competitive rivals
b.brand managers
c.target customers
d.supply chain partners
e.futurists
5. Which of the following is the primary function of the North American Free Trade Agreement (NAFTA)?
a.To restrict trade between the U.S. and Canada
b.To explore the concept of creating a trade-restricted zone for 34 countries across North, South, and Central America
c.To reshape the rules of trade among the United States, Canada, and Mexico
d.To eliminate the need to adjust strategies to reach submarkets of consumers
6. Which of the following federal laws passed by the Congress in the United States prohibits fake advertising allowances or discrimination in help offered?
a.Clayton Act
b.Sherman Act
c.Magnuson-Moss Act
d.Robinson-Patman Act
7.With reference to the measures of national income, gross domestic product (GDP) differs from gross national income (GNI) in that GDP:
a.only includes the market value of all the services provided in a country’s economy in a year, by residents of that country.
b.excludes the income earned by nonresidents of a nation who own resources in that nation.
c.does not consider the variables of small-scale industries and self-help groups.
d.includes the income earned by foreigners who own resources in a nation.
8. Which of the following terms best describes the idea that it’s important to meet present needs without compromising the ability of future generations to meet their own needs?
a.Viability
b.Profitability
c.Decentralization
d.Compromise
e.Sustainability
9.According to the continuum of environmental sensitivity, which of the following products would be least risky to introduce in a foreign market?
a.Clothing tied to unique cultural practices
b.Lemon scented dishwashing soap
c.Papaya juice
d.An industrial welding machine
e.Local food delicacies
Explanation / Answer
1. b.Direct environment
Direct Environment is one over which a company can be expected to have an influence and control. It is thus not a part of external market forces. Therefore it is not an element of the external market environment.
2. e.all of the above.
All the above factors play an important role in capturing the market. The firm should be financila stable so that it is able to build up processess and capacity to produce the desired product. The firm should have good relations with established retailers because they are the ones who can finally influence the consumers and publicise the product. The firm should create it brand wareness through various marketing techniques in order to promote and establish its product and create its demand.
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