Chapter 3 Study Questions.docx Chapter 3 Study Questions: 1.       Why is environment

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Chapter 3 Study Questions.docx Chapter 3 Study Questions: 1.       Why is environmental scanning an important activity for marketers? Environmental scanning is collecting external marketing... environment information to identify and interpret potential threats. Example: Consumer Product Safety Commission issued a recall of childrens books due to choking and laceration hazards.  2.       Describe an industry or firm that you think might be able to weather an economic downturn and explain why. Any well known beer or wine producer. People always want to drink. 3.       Why do marketers monitor the technological environment? Because it can lead to new products, improvements in existing products, better customer service, and/or reduced prices. Marketers also monitor new technology to gain competitive edge to enhance customer service. 4.       How might marketers make the most of shifts in the social-cultural environment? Follow or get ahead of the trends. 5.       What is the function of the Federal Trade Commission? The Food and Drug Administration? They are responsible for protecting the public health by ensuring the safety, efficacy, and security of human and veterinary drugs, biological products, medical devices, and by ensuring the safety of our nations food supply, cosmetics, and products that emit radiation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

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