| A | B |
|---|
| external | Elements of the THIS market environment are cultural/social, technological, economic, political/legal |
| mission statement | An example of one of these might be "Our goal is to provide superior products and service in our area |
| manufacturing | firms can increase production flexibility by not doing their own |
| opportunities | When looking for THESE, firms should determine capability to produce, financial strengths, relationships with retailers, & brand awareness. |
| pure competition | What type of competition is it likely to be when customers see the firm’s product as having close substitutes. |
| monopolistic competition | What type of competition is it when some consumers see the marketing mixes being offered by various firms as being different, but other consumers consider these alternatives to be close substitutes for each other |
| target customers | it is important to take the viewpoint of _____ when conducting a competitor analysis. |
| market share | portion of a firm's total sales compared to the whole market |
| rapidly | the economic environment can change ______________ |
| economic environment | examples of this would include:recession, exchange rates, national income |
| inflation | Consumer spending and ____________ (a general rise in orices) are part of the ECONOMIC environmnet |
| Technology | THIS foreshadows breakthrough opportunities. |
| artificial intelligence. | When machines operate like humans with respect to learning and decision making |
| nationalism | Sales and marketing activity in international markets can be blocked by strong feelings of THIS or when a country’s interests are put above all else. |
| free trade agreements | the purpose of THESE is to eliminate import and export barriers between countries |
| CPSC | has broad power to set safety standards and can impose penalties for violation of these standards. |
| Sherman Act | the federal law of 1890 outlawed anticompetitive activities and actions that create or attempt to monopolize a market |
| cultural/social | language, religious belief, the role of women in society & education level are all associated with THIS environment |
| place & promotion | THESE decisions are simplified When a large percentage of people are concentrated in urban areas |
| foreigners | GDP differs from gross national income (GNI) in that GDP includes the income earned by___________ who own resources in a nation, |
