After Lowe's Gathers Information Related to Its Marketing Environment, It

question 192

Multiple Choice

After Lowe's gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes. This determines possible opportunities and threats facing the company. It illustrates the process that is called

• A)environmental scanning
• B)survey of environment.
• C)marketing.
• D)environmental analysis.
• E)marketing information processing.

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Definitions:

Calculated

Pertains to something determined through the use of mathematical methods or a process of careful thought and consideration.

Generic Brands

Products that are sold under a retailer’s brand name rather than a manufacturer’s brand name, usually at a lower price and with simpler packaging.

National Brands

Brands that are marketed and recognized across an entire country, offering a consistent product or service experience nationwide.

Exclusive Distribution

A strategy where a product is distributed through a single wholesaler or retailer in a specific geographic area, limiting the number of outlets to maintain exclusivity.