Environmental scanning is the process of collecting external data, analyzing it, and determining whether the trends identified are opportunities or threats to the company.
True
Environmental management rarely works because marketers cannot hope to influence the external environment, they can only respond to changes in it.
False
A pharmaceutical company that owns a patent for a new drug obtains exclusive rights to produce and market that drug for an entire lifetime.
False
Marketing theory would define Starbucks, Tim Hortons, and Dunkin’ Donuts as indirect competitors because some coffee drinkers are particular about the brands they purchase.
False
Public and private consumer interest groups and self-regulatory organizations are part of the legal environment.
True
Consumer spending sinks to its lowest level during an economic depression.
True
Discretionary income is the amount of money people have to spend on buying necessities such as food, clothing, and housing.
False
Colleges and universities, and other not-for-profit institutions play major roles in the development of new technology.
True
Marketing strategies that work for a particular cultural group in Canada will always work when applied to the same cultural group abroad.
False
People develop standards of ethical behavior based on their own systems of values.
True
The demand for green products is increasing as consumers have responded by purchasing more and more green goods, providing profits and opportunities for growth to the companies that make and sell them.
True
Ensuring ethical practices means promising customers and business partners to sacrifice quality and fairness for profit.
False
The cultural diversity of Canada in various submarkets, each with unique values, cultural characteristics, purchasing behaviors, and consumer preferences.
True
