Macroenvironment Study guides, Revision notes & Summaries

MKTG396 Marketing Assign 1 Intro to Marketing (Athabasca University) 2022-2023 latest working update McDonald’s vs KFC What are the value propositions (see p. 11 of the textbook) of each of the two brands? How do these value propositions compare? Explain your answer by relating the value propositions to the consumer needs that these two brands want to satisfy. Describe how each of these two brands engages customers online. In your opinion, how successful are these two brands’ customer...

MKTG 3340 - Ch. 3 Question and answers 2024 verified to pass marketing environment - correct answer includes the actors and forces outside marketing that affect management's ability to build and maintain successful relationships with target customers macroenvironment - correct answer the larger societal forces that affect the microenvironment - demographic, economic, natural, technological, political, and cultural forces microenvironment - correct answer consists of the actors close to ...

Strategy is management's plan for operating the organization over the long term. Beckham (2016) describes strategy as a plan for getting from the present to a point in the future with uncertainty and resistance to change. With the dynamic changes that occur in the healthcare industry, this definition is appropriate. The goal of a strategy is to achieve a competitive advantage. The process of crafting a strategy consists of these elements: 1. Mission and vision statements 2. Performance obje...

Chapter 02 The External and Internal Environments True / False Questions 1. Organizations are open systems that affect and are affected by their external environments. True False 2. The external environment includes all relevant forces outside the organization's boundaries. True False 3. Strategy is an example of an input to an organization. True False 4. A firm's competitive environment includes new entrants, as well as substitutes and complements. True False 5. An org...

Hershey and Mars (the maker of M&Ms) offer tasty chocolate at affordable prices. However, they also contribute to a national obesity epidemic that harms consumer health. This statement is indicative of an ABSENCE of a _____ philosophy in their operations. correct answers Societal Marketing Concept The marketing concept: correct answers includes generating profits through customer satisfaction Customers can be classified into four relationship groups, according to their profitability and pr...

Marketing - Answer-managing profitable customer relationships Goals of Marketing - Answer-1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Need - Answer-state of felt deprivation (physical, social, individual) Want - Answer-a form that a human need takes as shaped by culture, individual personality, and marketers Demand - Answer-wants + buying power Market - Answer-the set of all actual and potential buyers of a pr...

Why is it important for managers to understand the environmental forces that act upon their organizations? - -Without this understanding, organizations tend to miss opportunities or make poor decisions. Which of the following refers to the immediate environment surrounding a firm, including suppliers, customers, rivals, and new entrants? - -competitve environment Michael Porter, a noted authority on strategic management, said that successful managers - -act in ways that shape or change the...

MKTG 3340 - Ch. 3 Prep Exam 2024. marketing environment - correct answer includes the actors and forces outside marketing that affect management's ability to build and maintain successful relationships with target customers macroenvironment - correct answer the larger societal forces that affect the microenvironment - demographic, economic, natural, technological, political, and cultural forces microenvironment - correct answer consists of the actors close to the company that affect its...

Ben & Jerry's mission to make the world a better place is linked to various organizational and marketing strategies, one of which is A. supporting farmers who agree to use sustainable farming practices, implementing fair working standards, and investing in local communities. B. the intent of making modest profits without sacrificing high product quality standards. C. ingredients that are all completely organic and are available only in Vermont to ensure freshness and contribute to the local ...

Open Systems - ANSWER-Organizations that are affected by, and that affect, their environment. Inputs - ANSWER-Goods and services organizations take in and use to create products or services. Outputs - ANSWER-The products and services organizations create. External Environment - ANSWER-All relevant forces outside a firm's boundaries, such as competitors, customers, the government, and the economy. Competitive Environment - ANSWER-The immediate environment surrounding a firm; includes...