Give an example of how each of the five environmental forces can impact an organization's marketing environment.
What will be an ideal response?
This question can be made a little more challenging by asking students to provide an example of each of the environmental forces. Student answers will vary, but may include: (1) Social - to adapt to the new marketplace in which Hispanics, African Americans, and Asians will spend $1.30 trillion, $1.1 trillion, and $880 billion each year respectively; (2) Economic - as consumer discretionary income increases, so does spending on pleasure and travel; (3) Technological - 3D printing is creating a resurgence in domestic manufacturing; (4) Competitive - partnerships, collaboration, and co-creation of value are becoming important dimensions of competition; and (5) Regulatory - online privacy protection advocacy and regulation is increasing.
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Leroy writes a letter that says, "I agree to sell to Jay five modern art paintings," and he signs the letter. Jay is an art dealer and he receives this writing from Leroy and does not object in writing within 10 days of receiving it. Which of the following is true according to the Uniform Commercial Code?
A. The contract will be considered void because of the lack of written evidence from Jay. B. Leroy would have a good statute of frauds defense because Jay has not signed the contract. C. Leroy will be prevented by the statute of frauds to take the case to the court. D. Jay has lost his statute of frauds defense because he did not object to the contract.
Petty crimes are considered a subcategory of ________
A) treasons B) misdemeanors C) felonies D) strict liability crimes
Global distribution networks that involve middlemen, exporters, importers, and different transportation systems generally lower costs and prices for products.
Answer the following statement true (T) or false (F)
A potential benefit given up when one activity is selected over another best defines
A) sunk costs. B) variable costs. C) opportunity costs. D) reflective costs.