Join Testzone, Smartkeeda’s Test Series Platform for:

Important for :
1
Compaq Computers collects information about political, legal, regulatory, societal, economic, competitive and technological forces that may affect its marketing activities. This process is called:
» Explain it
A
Environmental scanning can be defined as ‘the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market’.

Option 'A' hence is the most appropriate choice here.
2
After Compaq Computers gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes, allowing it to determine possible opportunities and threats facing the company this process is called:
» Explain it
D
Environmental analysis is a strategic tool. It is a process to identify all the external and internal elements, which can affect the organization's performance. The analysis entails assessing the level of threat or opportunity the factors might present.

Option 'D' hence is the most appropriate choice here.
3
There are two major categories of laws that directly affect marketing practices - procompetitive legislation and:
» Explain it
A
Procompetitive laws are designed to preserve competition. Most of these laws were enacted to end various practices deemed unacceptable by society. 

Examples of illegal anticompetitive practices include stealing trade secrets or obtaining other confidential information from a competitor's employees, trademark and copyright infringement, price fixing, etc.

Consumer Protection legislation deals with consumer safety, such as the food and drug acts. It was designed to protect people from actual and potential physical harm caused by adulteration or mislabeling. 

Ex: Tobacco labeling and packaging have been impacted by consumer protection legislation through disclosures and warnings.
4
If the National Association of Hosiery Manufacturers sets guidelines for its member firms to follow regarding the use of unethical practices, it is engaging in:
» Explain it
C
Marketing self-regulation is a system by which the advertising, marketing, agency and media industry set voluntary rules and standards of practice that go beyond their legal obligations.

In the given context, National Association of Hoisery is quite clearly engaged in self-regulation.
» Explain it
D
The consumer movement is an effort to promote consumer protection through an organized social movement which is in many places led by consumer organizations. It advocates for the rights of consumers, especially when those rights are infringed by the actions of corporations, governments, and other organizations which provide products and services to consumers.

Ref: https://en.wikipedia.org/wiki/Consumer_movement