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Economics in Marketing & SWOT
Economics in Marketing & SWOT
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Economics in Marketing and SWOT Analysis
Flashcards
24 cards
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Questions
24
Answers
1
Coca-Cola has many opportunities. Which one is
NOT
an opportunity?
Produce drinking water
Customer Loyalty
Market the lesser selling products
Expand to developing nations
2
SWOT stands for
Situations, Weaknesses, Opportunities, & Threats
Strengths, Weaknesses, Objectives, & Threats
Strengths, Weaknesses, Opportunities, Tasks
Strengths, Weaknesses, Opportunities & Threats
3
Demand for diapers, there is an an increase in babies born. This affects
Population
Substitutes
Income
Complementary goods
4
Apple's newest iPhones are the XR, XS, & XS Max, this affects which determinant?
Taxes
Inputs
Technology
# of Firms
5
The amount above equilibrium is called
Surplus
Shortage
6
Why do companies complete a SWOT?
To find out where they should sell their products
Because their boss tells to them to do one
To add value to a company's products & services
To add more responsibility to a company's agenda
7
If there are more bike shops in Rochester, this affects which determinant?
Technology
Taxes
Inputs
# of Firms
8
When graphing supply & demand, what is the bottom axis labeled?
Surplus
Price
Shortage
Qty.
9
The supply of Ray-Ban sunglasses. Lens costs decrease. Supply will
Increase
Decrease
Is not affected
Stays the same
10
The amount below equilibrium is called
Shortage
Surplus
11
Super-size items are gone, healthier eating is where it's at! What determinant is affected?
Substitutes
Tastes/Preferences
Complementary Goods
Income
12
The Coca Cola Company has many strengths. Which one is
NOT
a strength?
Brand Awareness
Customer Loyalty
Largest Market Share
Competing with Pepsi
13
Price and quantity for
supply
move in which direction?
the opposite
the same
14
A complementary good of sneakers is
socks
Adidias
Nike
shorts
15
500 more people in Greece and an increase phones. Which determinant is affected?
Complementary Goods
Income
Substitutes
Population
16
If cream cheese is on sale, the demand for bagels will increase. What determinant is affected?
Population
Substitutes
Tastes/Preferences
Complementary goods
17
Demand for 55" Smart LED TV's, the minimum wage has increased. Demand will
Increase
not be affected
Decrease
Stays the same
18
You heard many presentations on entrepreneurs, which one isn't a true entrepreneur?
Bill Gates
Michael Jordan
Walt Disney
Steve Jobs
19
The point at which qty. supplied = qty. demanded is called
Balance
Shortage
Surplus
Equilibrium
20
The computers at H&R Block are an example of
Human
Nautural
Capital
Entrepreneurship
21
External factors in a SWOT are all but
Technology
Resources
Political & Economic
Socio-Cultural
22
The Law of Demand states: As the price of an item goes up, quantity demanded goes ?
Stays the same
Down
Up
23
Pizza ovens at Carbone's Pizza would be an example of which economic resource?
Human
Natural
Entrepreneurship
Capital
24
The three (3) C's involved in the internal factors of a SWOT Analysis are
Company, Customers, Collections
Company, Customers, Competition
Character, Customers, Competition
Company, Credit, Competition
