MARK 201- Chapter 2 and 3 Exam Questions with Correct Answers Latest Update 2025/2026
What is a situation analysis? - Answers Taking stock of a firm's or product's past performance,
where it is now, and where it is headed.
What is an environmental scan? - Answers The process of continually acquiring information on
events occurring outside an organization and identifying external trends that are opportunities
or threats.
What is a demographic? - Answers The statistical study of today's demographics.
What is showrooming? - Answers Using mobile devices in-store to check online competitive
product reviews and prices, resulting in an online purchase of the cheapest product.
Who are cord cutters? - Answers People who cancel cable or satellite TV to focus on online
viewing.
What is social TV? - Answers Watching TV programming while adding comments on social
networks.
What is the economy? - Answers The collective income, expenditures, and resources that affect
the cost of running a business or household.
What are regulations? - Answers Restrictions placed on marketing practice by government and
industry associations.
What is online behavioural advertising? - Answers Using web-based programs to track
consumers' online activity to deliver ads based on browsing interests.
What does SWOT stand for? - Answers Strengths, Weaknesses, Opportunities, Threats.
What four areas does SWOT analysis focus on? - Answers Changes and trends in the
organization, competitors, the organization itself and resources, and current and prospective
customers.
What areas does marketing scan in the marketing environment? - Answers Social forces,
economic forces, technological forces, and regulatory forces.
Why do marketers scan the marketing environment? - Answers To ensure goods, services, and
ideas are relevant and meaningful within the external environment.
What is the first step in an environmental scan? - Answers Collect facts and identify trends.
What activities occur when collecting facts and trends? - Answers Gather data, conduct
competitive reviews, and cluster information into facts and trends.
What is the second step in an environmental scan? - Answers Determine the impact of facts and
, trends on the business.
What happens when determining impact in an environmental scan? - Answers Set business
objectives and analyze external trends.
What is the third step in an environmental scan? - Answers Brainstorm, evaluate, and implement
ideas to meet business objectives.
What social forces are examined in an environmental scan? - Answers Demographic shifts and
cultural changes.
What demographic shifts affect marketing? - Answers Aging population, diverse generations,
and changing household composition.
What cultural changes affect marketing? - Answers Core beliefs passed between generations
and valuing healthier food options.
What economic forces affect marketing? - Answers Macroeconomic conditions and consumer
income.
What macroeconomic conditions influence purchase behaviour? - Answers Tariffs, inflation,
affordability, interest rates, and consumer confidence.
What technological forces affect marketing? - Answers Unlimited opportunities for innovation,
increased regulation, crossover into other categories, changing technology, and impact on
consumer value.
What are competitive forces? - Answers Each company must consider its present competitors
and future competition.
What are regulatory forces? - Answers Business regulations that protect consumers, protect
businesses, and set acceptable standards of practice.
What regulatory issues affect marketing? - Answers Data privacy, security, and advertising
standards.
What generations do marketers note? - Answers Baby Boomers, Generation X, Generation Y
(Millennials), and Generation Z.
Who are Baby Boomers? - Answers Born 1946-1965, representing 21.9% of the population.
Who is Generation X? - Answers Born 1966-1980, representing 21% of the population.
Who are Millennials (Generation Y)? - Answers Born 1981-1996, children of Baby Boomers,
highly influenced by the internet.
Who is Generation Z? - Answers Born 1997-2012, frugal, less likely to buy premium brands, less
What is a situation analysis? - Answers Taking stock of a firm's or product's past performance,
where it is now, and where it is headed.
What is an environmental scan? - Answers The process of continually acquiring information on
events occurring outside an organization and identifying external trends that are opportunities
or threats.
What is a demographic? - Answers The statistical study of today's demographics.
What is showrooming? - Answers Using mobile devices in-store to check online competitive
product reviews and prices, resulting in an online purchase of the cheapest product.
Who are cord cutters? - Answers People who cancel cable or satellite TV to focus on online
viewing.
What is social TV? - Answers Watching TV programming while adding comments on social
networks.
What is the economy? - Answers The collective income, expenditures, and resources that affect
the cost of running a business or household.
What are regulations? - Answers Restrictions placed on marketing practice by government and
industry associations.
What is online behavioural advertising? - Answers Using web-based programs to track
consumers' online activity to deliver ads based on browsing interests.
What does SWOT stand for? - Answers Strengths, Weaknesses, Opportunities, Threats.
What four areas does SWOT analysis focus on? - Answers Changes and trends in the
organization, competitors, the organization itself and resources, and current and prospective
customers.
What areas does marketing scan in the marketing environment? - Answers Social forces,
economic forces, technological forces, and regulatory forces.
Why do marketers scan the marketing environment? - Answers To ensure goods, services, and
ideas are relevant and meaningful within the external environment.
What is the first step in an environmental scan? - Answers Collect facts and identify trends.
What activities occur when collecting facts and trends? - Answers Gather data, conduct
competitive reviews, and cluster information into facts and trends.
What is the second step in an environmental scan? - Answers Determine the impact of facts and
, trends on the business.
What happens when determining impact in an environmental scan? - Answers Set business
objectives and analyze external trends.
What is the third step in an environmental scan? - Answers Brainstorm, evaluate, and implement
ideas to meet business objectives.
What social forces are examined in an environmental scan? - Answers Demographic shifts and
cultural changes.
What demographic shifts affect marketing? - Answers Aging population, diverse generations,
and changing household composition.
What cultural changes affect marketing? - Answers Core beliefs passed between generations
and valuing healthier food options.
What economic forces affect marketing? - Answers Macroeconomic conditions and consumer
income.
What macroeconomic conditions influence purchase behaviour? - Answers Tariffs, inflation,
affordability, interest rates, and consumer confidence.
What technological forces affect marketing? - Answers Unlimited opportunities for innovation,
increased regulation, crossover into other categories, changing technology, and impact on
consumer value.
What are competitive forces? - Answers Each company must consider its present competitors
and future competition.
What are regulatory forces? - Answers Business regulations that protect consumers, protect
businesses, and set acceptable standards of practice.
What regulatory issues affect marketing? - Answers Data privacy, security, and advertising
standards.
What generations do marketers note? - Answers Baby Boomers, Generation X, Generation Y
(Millennials), and Generation Z.
Who are Baby Boomers? - Answers Born 1946-1965, representing 21.9% of the population.
Who is Generation X? - Answers Born 1966-1980, representing 21% of the population.
Who are Millennials (Generation Y)? - Answers Born 1981-1996, children of Baby Boomers,
highly influenced by the internet.
Who is Generation Z? - Answers Born 1997-2012, frugal, less likely to buy premium brands, less
