20 Questions
Why does marketing matter in society?
All of the above
What is one of the components of marketing mentioned in the text?
Creating value
What is the difference between needs and wants?
Needs are black and white, wants are gray
Which company partners with Upcycle It Now to deconstruct old raincoats and fleece jackets?
Patagonia
What is Patagonia's mission statement?
To build the best products and implement environmentally friendly solutions
Which company's mission statement includes the goal of creating economic opportunity for every member of the global workforce?
What is the purpose of the marketing mix?
To fulfill customer needs and wants
What is the easiest marketing-mix element to change?
Price
What is the purpose of a mission statement?
To capture a shared purpose
Which of the following is an indirect competitor of Company 5?
Harley Davidson
Which company had success marketing to a U.S. population characterized by shifting income distribution?
Dollar General
What external factor affects consumer spending by influencing how optimistic consumers are about the overall state of the economy and their own personal finances?
Consumer confidence
Which of the following is an example of an external consideration in a SWOT analysis?
Increasing production costs
What is the purpose of conducting a SWOT analysis?
To identify and evaluate internal and external factors
Which of the following is an example of indirect competition in the marketing environment?
SiriusXM and Pandora
Which economic factor poses a threat to Amazon's business?
Inflation in groceries and gas
What demographic factor presents an opportunity for Amazon's business?
What sociocultural factor impacts Amazon's business positively?
Dual income homes
What political factor affects how marketers position products?
Governmental policy
What customer convenience factor is mentioned in the text?
Oscar Mayer's Lunchables
Test your knowledge on situation analysis and SWOT analysis with this quiz. Learn about the tools and techniques used to analyze internal and external factors, identify strengths and weaknesses, and uncover opportunities and threats. Put your skills to the test and see how well you understand the importance of situation analysis in achieving a shared purpose.
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