Question

1.How many factors make up the marketing environment?

a.2

b.4

c.3

d.1

2.The micro-environment is sometimes referred to as the internal environment.

a.True

b.False

3.Which element would be categorized in the micro-environment for managers at Ben & Jerry’s?

a.Population trends

b.Cultural beliefs

c.Ingredients

d.Legal regulations

4.Which term best describes a collection of buyers and sellers interested in making similar or related exchanges?

a.Mature Economy

b.Market

c.Developing Economy

d.Publics

5.Which term best describes a market having relatively stable competitors and customers?

a.Evolving Markets

b.Macro-environment

c.Established Markets

d.Federal Trade Commission (FTC)

6.Which term best describes a market that is changing rapidly and does not have stable competitors or customers?

a.Established Markets

b.Federal Trade Commission (FTC)

c.Evolving Markets

d.Macro-environment

7.Which term is most applicable to couples living in households as unmarried partners?

a.Resellers

b.Cohabitation

c.End consumers

d.Publics

8.Which of the following will increase sustainability?

a.Using all plastic products

b.NOT having recycling bins

c.Burning coal for power

d.Using solar power

9.Many employers are trying to market the work/life balance of their work environment to potential employees; what component of the macro-environment are these employers focusing on?

a.Economic/Financial

b.Social/Cultural

c.Political/regulatory/legal

d.Technological

10.Which term best describes the combinations of controllable and uncontrollable forces that affect a marketing decision?

a.Micro-Environment

b.Market Share

c.Marketing intermediaries

d.Marketing Environment

10.Which term best describes the most important micro-environment element, the opposite partner in an exchange?

a.Customer

b.Suppliers

c.Competitor

d.Company

12.Which term best describes anything in the environment that directly affects or is directly affected by the marketing manager’s decisions?

a.Micro-environment

b.Market

c.Macro-environment

d.Mature Economy

Answer 1

1. How many factors make up the marketing environment?

a.2

b.4

c.3

d.1

Answer - a.2

There are two factors that make up the marketing environment. Those factors are –

1. Micro Environmental factors
2. Macro Environmental factors

Micro Environmental factors include all those factors that are closely related to the company like customers, employees, suppliers, investors, etc.

Macro Environment factors are completely outside the business like political, legal, economic, demographic, social, technological factors, etc.

2. The micro-environment is sometimes referred to as the internal environment.

a.True

b.False

Answer – a. True

Micro environment is sometimes referred as the internal environment. Internal environment is the environment within the organisation and Micro environment is the environment closely related to organisation. So, some factors of the internal and micro environment are same.

3. Which element would be categorized in the micro-environment for managers at Ben & Jerry’s?

a.Population trends

b.Cultural beliefs

c.Ingredients

d.Legal regulations

Answer – b. Cultural Beliefs

Cultural belief of the employees or managers in an organisation is the important factor that affects their working in an organisation. As it is related to the employees of the company Ben & Jerry’s, it is included in their micro environment.

4. Which term best describes a collection of buyers and sellers interested in making similar or related exchanges?

a.Mature Economy

b.Market

c.Developing Economy

d.Public

Answer – b. Market

Market is defined as the collection of buyers and sellers interested in making similar or related exchanges. When buyers and sellers come together at a place to exchange their items in return of some compensation it is called a Market.

Note – As per our guidelines, I have answered 4 MCQ at one time. Please post rest of the questions again.