Chapter 2 - Market Environment And Analysis

20 Questions

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Chapter 2 - Market Environment And Analysis

Based on Marketing, 2nd Edition By John Wiley Publishers


Questions and Answers
  • 1. 
    • A. 

      The organisation's micro-environment

    • B. 

      The organisation's macro-environment

    • C. 

      Any internal or external force that affects the organisation's ability to create, communicate, deliver and exchange offerings of value

    • D. 

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

  • 2. 
    The process of breaking the marketing environment into smaller parts in order to gain a better understanding of it is known as (select ONE)
    • A. 

      The internal environment

    • B. 

      Environmental analysis

    • C. 

      The micro-environment

    • D. 

      The macro-environment

  • 3. 
    When using the PESTL framework, marketers are investingating: (Select ONE)
    • A. 

      Internal forces

    • B. 

      Macro-environmental forces

    • C. 

      Micro-environmental forces

    • D. 

      Competitive forces

  • 4. 
    • A. 

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

    • B. 

      Weakenesses are internal factors that marketers seek to minimise

    • C. 

      The internal environment includes factors that are controllable by the organisation

    • D. 

      Both b and c

  • 5. 
    Choose the best answer from the options below to complete the following sentence. An organisation chart can be a useful tool to help analyse an organisation's (Select ONE)
    • A. 

      Market perception

    • B. 

      Marketing mix

    • C. 

      External environment

    • D. 

      Internal environment

  • 6. 
    An organisation that cuts its marketing budget during an economic downturn could be more likely to view marketing as (Select ONE)
    • A. 

      A cost

    • B. 

      An investment

    • C. 

      Essential

    • D. 

      Both a and c

  • 7. 
    Which of the following is not a part of an organisation's external environment? (Select ONE)
    • A. 

      Customers

    • B. 

      Competitors

    • C. 

      The micro-environment

    • D. 

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

  • 8. 
    Primary produces such as wheat farmers, construct dams in an attempt to influence their businesses: (Select ONE)
    • A. 

      Internal environment

    • B. 

      External environment

    • C. 

      Micro-envionment

    • D. 

      Macro-environment

  • 9. 
    A level of competition characterised by consumers often having limited financial resources (Select ONE)
    • 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 organisation's micro-environment? (Select ONE)
    • A. 

      Competitors

    • B. 

      Partners such as suppliers and retailers

    • C. 

      Customers

    • D. 

      The economy

  • 11. 
    A market structure in which there is only one supplier and there are substantial, potentially insurmountable, barriers to new entrants is known as: (Select ONE)
    • A. 

      Oligopoly

    • B. 

      Monopoly

    • C. 

      Monopolistic competition

    • D. 

      Pure competition

  • 12. 
    • A. 

      Internal environment

    • B. 

      Micro-environment

    • C. 

      The competitive-environment

    • D. 

      The macro-environment

  • 13. 
    In an attempt to overcome legal regulations, an industry body may attempt to influence which aspect of its marketing environment? (Select ONE)
    • 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, behaviours, preferences, customers and lifestyles are known as (Select ONE)
    • A. 

      Demographic forcces

    • B. 

      Technological forces

    • C. 

      Sociocultural forces

    • D. 

      Legal forces

  • 15. 
    The global financial crisis was an example of what type of macro-environmental force? (Select ONE)
    • 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): (Select ONE)
    • A. 

      Political forces

    • B. 

      Economic force

    • C. 

      Sociocultural force

    • D. 

      Technological force

  • 17. 
    Marketing metics are measures that are used to (Select ONE)
    • A. 

      Assess the micro-environment

    • B. 

      Assess the macro-environment

    • C. 

      Assess marketing performance

    • D. 

      Assess marketing planning

  • 18. 
    The level of consumer awareness of a company's product would be an example of which marketing metric? (Select ONE)
    • A. 

      Brand equity

    • B. 

      Return on investment

    • C. 

      Customer satisfaction

    • D. 

      Market share

  • 19. 
    A new housing estate with landscaping convenants opens in the vicinity of a garden nursery business. In term of a SWOT analysis, this would represent (Select ONE)
    • A. 

      A strength

    • B. 

      An opportunity

    • C. 

      A threat

    • D. 

      A weakness

  • 20. 
    • A. 

      Marketing planning

    • B. 

      Situational analysis

    • C. 

      The competitive analysis

    • D. 

      Company analysis