Market Environment And Analysis Quiz!

20 Questions | Total Attempts: 39434

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Market Environment And Analysis Quiz! - Quiz

Do you think you know everything about the market environment and analysis? Play this quiz and test your understanding of strategic marketing analysis. Marketing environmental analysis refers to a marketing analysis tool that helps to identify environmental factors, including both internal and external, that affect businesses? If you wish to check your knowledge on the same, you can take up this quiz, and your result will reveal how updated you are with the market trends. Best of luck!


Questions and Answers
  • 1. 
    Which of the following is part of an organization's marketing environment?
    • A. 

      The organization's micro-environment.

    • B. 

      The organization's macro-environment.

    • C. 

      Any internal or external force affects the organization's ability to create, communicate, deliver, and exchange value offerings.

    • D. 

      All of the options listed are part of an organization's marketing environment.

  • 2. 
    What is the process of breaking the marketing environment into smaller parts to gain a better understanding of it known as?
    • A. 

      The internal environment

    • B. 

      Environmental analysis

    • C. 

      The micro-environment

    • D. 

      The macro-environment

  • 3. 
    When using the PESTEL framework, marketers are investigating
    • A. 

      Internal forces

    • B. 

      Macro-environmental forces

    • C. 

      Micro-environmental forces

    • D. 

      Competitive forces

  • 4. 
    Which of the following statement is correct?
    • A. 

      The internal environment includes those factors that are not controllable by the organization

    • B. 

      Weaknesses are internal factors that marketers seek to minimize

    • C. 

      The internal environment includes factors that are controllable by the organization

    • D. 

      Both b and c

  • 5. 
    An organization chart can be a useful tool to help analyze an organization's ________________.
    • A. 

      Market perception

    • B. 

      Marketing mix

    • C. 

      External environment

    • D. 

      Internal environment

  • 6. 
    An organization that cuts its marketing budget during an economic downturn could be more likely to view marketing as ____________.
    • A. 

      A cost

    • B. 

      An investment

    • C. 

      Essential

    • D. 

      Both a and c

  • 7. 
    Which of the following is not a part of an organization's external environment?
    • A. 

      Customers

    • B. 

      Competitors

    • C. 

      The micro-environment

    • D. 

      All of the options listed are a part of an organization's external environment.

  • 8. 
    Primary produces such as wheat farmers construct dams in an attempt to influence their businesses are what type of environment?
    • A. 

      Internal environment

    • B. 

      External environment

    • C. 

      Micro-environment

    • D. 

      Macro-environment

  • 9. 
    A level of competition characterized by consumers often having limited financial resources is known as
    • A. 

      Generic competition

    • B. 

      Total budget competition

    • C. 

      Monopolistic competition

    • D. 

      Brand competition

  • 10. 
    Which of the following would not be a part of an organization's micro-environment?
    • A. 

      Competitors

    • B. 

      Partners such as suppliers and retailers

    • C. 

      Customers

    • D. 

      The economy

  • 11. 
    Which market structure has only one supplier, many substantial, potentially insurmountable, barriers to new entrants?
    • A. 

      Oligopoly

    • B. 

      Monopoly

    • C. 

      Monopolistic competition

    • D. 

      Pure competition

  • 12. 
    Working for the Aldi supermarket chain, you are very aware of the activities of your company's competitiors, Coles and Woolworths, and find that you frequently make changes to your businesses in response to actions they have taken. You also notice that they react when you make changes to your business offering. This competition is occurring within the:
    • A. 

      Internal environment

    • B. 

      Micro-environment

    • C. 

      The competitive-environment

    • D. 

      The macro-environment

  • 13. 
    An industry may attempt to influence which aspect of its marketing environment to overcome legal regulations?
    • A. 

      Sociocultural

    • B. 

      Political

    • C. 

      Competitive

    • D. 

      Economic

  • 14. 
    The influences in a society and/or its culture/s that affect people's attitudes, beliefs, behaviors, preferences, customers; and lifestyles are known as 
    • A. 

      Demographic forces

    • B. 

      Technological forces

    • C. 

      Sociocultural forces

    • D. 

      Legal forces

  • 15. 
    The global financial crisis was an example of what type of macro-environmental force?
    • A. 

      Political

    • B. 

      Sociocultural

    • C. 

      Competitive

    • D. 

      Economic

  • 16. 
    A devaluation of the Australian dollar makes exports cheaper and imports more expensive. Within the macro-environment, this is known as a(n):
    • A. 

      Political forces

    • B. 

      Economic force

    • C. 

      Sociocultural force

    • D. 

      Technological force

  • 17. 
    Marketing metrics are measures that are used to ________________
    • A. 

      Assess the micro-environment

    • B. 

      Assess the macro-environment

    • C. 

      Assess marketing performance

    • D. 

      Assess marketing planning

  • 18. 
    Which marketing metric is it? The level of consumer awareness of an organization's product.
    • A. 

      Brand equity

    • B. 

      Return on investment

    • C. 

      Customer satisfaction

    • D. 

      Market share

  • 19. 
    A new housing estate with landscaping covenants opens in the vicinity of a garden nursery business. In term of a SWOT analysis, this would represent ___________.
    • A. 

      A strength

    • B. 

      An opportunity

    • C. 

      A threat

    • D. 

      A weakness

  • 20. 
    As the recently appointed marketing manager for a growing fashion brand, you spend your first few months in the job understanding the business, your competitor's businesses, and the marketing environment. The comprehensive understanding you are engaged in is known as:
    • A. 

      Marketing planning

    • B. 

      Situational analysis

    • C. 

      The competitive analysis

    • D. 

      Company analysis