Save
Busy. Please wait.
Log in with Clever
or

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever
or

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Chp 3: Environment

Chapter 3 - Marketing Environment

TermDefinition
Environmental Scanning Process of collecting and analyzing external information to identify and interpret potential trends.
What is the purpose of environmental scanning? To identify and interpret potential trends that may be opportunities or threats to a company.
Competitive Environment An interactive exchange that occurs in the marketplace where marketers compete for consumer's purchasing power.
Monopoly Single seller dominates and no close substitutes (e.g., gas, electricity, cable TV companies)
Oligopoly Few sellers compete and where high start-up costs keep competitors out of the market (e.g., commercial airline manufacturers.
Three types of competition direct, indirect, budget competitors (all firms compete for finite $$ of consumers' purchases).
Direct competition similar products (e.g., Coke vs. Pepsi)
Indirect competition substitute products that meet same need (e.g., Coke vs. Water)
Budget competitor All firms compete for a limited number of dollars that consumers can or will spend (e.g., Honda Accord vs. Norwegian Cruise Line vacation)
Political-legal environment laws and their interpretations that require firms to operate under competitive conditions and to protect consumer rights
Created by: WGU Marketing
Popular Marketing sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards