The Marketing Environment
The marketing environment is composed of these two types of factors.
What is internal and external?
Age, gender, education are some examples of this.
What are demographics?
The Sherman Anti-Trust Law of 1890 protects consumers from this.
What are monopolies?
If consumers from global markets want a product, a business might enter that market because an increase in this.
What is demand?
The act of monitoring developments outside the firm's control with the goal of detecting and responding to threats and opportunities is known as this.
What is environmental scanning?
Hugging is viewed as acceptable greeting in some countries but not others. This is a difference in what?
What is culture?
FTC, or __________________ is the main federal agency that affects marketing.
What is the Federal Trade Commission?
Companies might expand into global markets in order to increase this for themselves.
What is profit?
SWOT stands for this.
How optimistic consumers are about the overall state of the economy is referred to as this.
What is consumer confidence?
The _________ _________ Accountability, Responsibility, and Disclosure Act banned unfair rate hikes to protect consumers.
What is credit card?
The price of one country's currency in terms of another country's currency is known as this.
What is the exchange rate?
Employees, products, and manufacturing process fall under this type of factor.
What is internal?
A rise in overall prices over time is known as this.
What is inflation?
The Fair Packaging and Labeling Act states that companies must include name and location of who ________________ the product on the label.
What is manufactured?
The least risky option for entering global markets.
What is exporting?
Marketers must develop a deep understanding of customers _________ and _______ to compensate for external factors.
What is needs and wants?
When GDP declines for two or more quarters, this occurs.
What is a recession?
The Telephone Consumer Protection Act of 1991 states that commerical soliciation cannot occur between these times.
What is 9pm and 8am?
McDonalds, Burger King, and Pizza Hut use this method to enter global markets.
What is franchising?