Explain the elements that comprise the marketing environment
What will be an ideal response?
Answer: The marketing environment is comprised of everything outside of an organization's boundaries that might affect it including the political-legal, sociocultural, technological, economic, and competitive environments. Rules, regulations, and legislation make up the political-legal environment. Most industries are affected in some way by political-legal elements. The sociocultural environment includes changes in social values, consumer preferences, language, demographics, etc. The technological environment has had a profound impact on the marketing environment with the invention of new technologies that completely change our lifestyles. The economic environment includes such factors as inflation, interest rates, and recession; because they determine spending patterns by consumers, businesses, and governments, economic factors influence marketing plans for product offerings, pricing, and promotional strategies. The competitive environment encompasses all organizations that supply or provide similar products. All players in the competitive environment compete for consumers' purchasing power.
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Voluntary protection programs (VPPs)
A. try to establish a cooperative relationship between employers and OSHA. B. allow employers to sidestep Occupational Safety and Health Administration (OSHA) legislation. C. are contained within state-based, right-to-know legislations. D. cover only transportation-related industries.
The steeper an OC curve, the better it discriminates between good and bad lots
Indicate whether the statement is true or false
All of the following statements about the methods of regulating insurance are true EXCEPT
A) All states have insurance laws that regulate the operations of insurers. B) Insurers are totally exempt from regulation by federal agencies and laws. C) The courts regulate insurance in many ways, including the interpretation of policy clauses and provisions. D) State insurance commissioners, through administrative rulings, have considerable power over insurers doing business in their states.
If a defendant makes a claim against a plaintiff, in response to the plaintiffs complaint against the defendant, the plaintiff responds by providing:
a. an answer b. an interrogatory c. a counterclaim d. a demurrer e. none of the other choices