Module 2: The Marketing Environment

Question 1

includes all the external forces that could affect the success of future marketing programs

Answer 1

marketing environment

Question 2

the 6 marketing enviro forces

Answer 2

demographic
socio-cultural
economic
technological
competitive
regulatory

Question 3

environmental scan is continually acquiring info on events that happen outside the org to identify… (3)

Answer 3

trends
opportunities
threats to a business

Question 4

marketers use the info from an environmental scan to make sure their product is (2)

Answer 4

relevant and competitive

Question 5

looking at countable characteristics of ppl like age, gender, ethnicity, income, job, etc.

Answer 5

demographic force

Question 6

what is the largest generational cohort in Canada

Answer 6

Baby boomers and millennials

Question 7

socio-cultural forces include (3)

Answer 7

cultural values, ideas and attitudes

Question 8

using mobile devices in store to check competitive online product reviews and prices then purchasing cheaper product online

Answer 8

showrooming

Question 9

why do marketers scan the marketing envrio

Answer 9

it is always changing and changing fast

Question 10

related to the state of the economy as a whole

Answer 10

macroeconomics

Question 11

related to supply and demand and individual buying power

Answer 11

microeconomics

Question 12

involved with inflation, unemployment, economic growth, consumer confidence and interest rates

Answer 12

macroeconomics

Question 13

if interest rates are high ppl tend to

Answer 13

try sand save money

Question 14

if interest rates are low ppl tend to

Answer 14

spend/borrow more money

Question 15

money left after paying taxes for food, clothing, shelter

Answer 15

disposable income

Question 16

money left after paying for taxes and necessities

Answer 16

discretionary income

Question 17

consumers spend more on affordable luxuries than big ticket items when economy is weak

Answer 17

lipstick effect

Question 18

innovations that stem from scientific and engineering research

Answer 18

technological forces

Question 19

4 types of technologies that have changed the marketing enviro

Answer 19

e-commerce
cloud-based services
trackers
mobile payment

Question 20

marketers must understand who _____ are and how ______ when developing marketing strategies

Answer 20

• competitors

- competitive the industry is

Question 21

pepsi and coke are examples of

Answer 21

direct competitors

Question 22

pepsi and San pellegrino water are

Answer 22

indirect competitors

Question 23

competition is non-existent

Answer 23

monopoly

Question 24

small number of competitors

Answer 24

oligopoly

Question 25

larger # of competitors selling similar products

Answer 25

monopolistic competition

Question 26

market with many sellers selling identical products

Answer 26

perfect competition

Question 27

marketers must be aware of _____ placed on marketing practices by the government and industry associations

Answer 27

restrictions

Question 28

helps set standards of acceptable broadcast standards and regulates the telecommunication industry

Answer 28

CRTX

Question 29

the CASL is an

Answer 29

anti-spam legislation

Question 30

tracking consumers online browser activity to deliver ads that correspond to their browsing interests

Answer 30

OBA

Question 31

independent law-enforcement agency that ensures that the market in Canada is competitive and innovative

Answer 31

The Competition Bureau

Question 32

failure to abide by the _____ rules can result in fines or jail time

Answer 32

Competition Bureau

Question 33

guides its practices through its code of ethics and standards of practice

Answer 33

Canadian Marketing Association (CMA)

Question 34

federal legislation for the private sector falls under _____ and is reviewed by the gov

Answer 34

PIPEDA

Question 35

PIPEDA stands for

Answer 35

personal information protection and electronic documents act

Question 36

PIPEDA is reviewed by the gov every ____ years to ensure it remains current and actionable with tech

Answer 36

5

Question 37

requires consent and disclosure info from individuals

Answer 37

PIPEDA

Question 38

are conducted routinely to ensure products and marketing approaches stay relevant and resonate with consumers

Answer 38

environmental scans

Question 39

environmental scans are usually conducted...

Answer 39

annually

Question 40

3 steps to an environmental scan

Answer 40

1. collect facts and identify trends 2. determine the impact of these facts and trends on the business 3. brainstorm, evaluate, and implement ideas to meet business objectives

Question 41

SWOT stands for

Answer 41

strengths, weaknesses, opportunities, threats

Question 42

used to set future direction for a business to lay groundwork for competitive market programs

Answer 42

SWOT analysis

Question 43

SWOT is used to help marketers better understand their _____ and align their ________

Answer 43

enviro | marketing strategy

Question 44

how does enviro scan differ from swot analysis

Answer 44

enviro scan focuses on external enviro and swot focuses on external and internal enviro