Exam 3: Analyzing the Marketing Environment

Which of the following is true of the Millennials?

An increasing number of American workers currently work from their homes or remote offices and conduct their business by phone or the Internet. These trend has created a ________.

Funco Inc., a toy manufacturer, sold plastic racing cars that were manufactured with toxic materials, which threatened the health of several children. Under which of the following acts is Funco most likely to be prosecuted?

Rather than assuming that strategic options are bounded by the current environment, firms adopting a(n) ________ to the marketing environment develop strategies to change the environment.

Which group includes neighborhood residents and community organizations?

The technological environment is predominantly static.

Price & Malone Corp., a company based in Houston, caters to a market of individuals and households that buy goods and services for personal consumption. Price & Malone caters to a ________ market.

Government markets consist of government agencies that buy goods and services ________.

Which among the following generational groups is most fluent and comfortable with digital technology?

Consumers in the "lifestyles of health and sustainability" (LOHAS) market are more likely to seek ________.

Marketers should understand that people's core beliefs and values tend to be ________.

Which of the following is a trend that depicts the increasingly nontraditional nature of today's American families?

What is cause-related marketing? Illustrate with examples.

________ markets buy goods and services for further processing.

Ursula Jenkins, a fifty-one-year-old school teacher from Nebraska, believes that people should choose a profession they like, which is an example of Ursula's ________.

When a company hires lobbyists to influence legislation affecting its industry, it is taking a defensive stance toward the marketing environment.

Refer to the scenario below to answer the following questions. Casey Brickly opened The Landing, a convenience store on the north shore of Witmer Lake, in 1962. With a sandwich counter on one side and a bait shop and grocery on the other, The Landing was an immediate hit with weekend lake visitors and local residents alike. In the summer, boaters parked at the piers and bought all their fishing needs, such as rods and reels, bait, snacks, and soft drinks at The Landing. Even during the winter months, snowmobilers and ice fishermen were lured to The Landing for snacks and hot coffee or hot chocolate. As time passed, the business changed and grew tremendously. What was formerly a weekend tourist area gradually became a full-fledged residential area. Many of the houses, which were built as cottages in the 1950s and 1960s, were remodeled into residential homes. By the end of the 1970s, the days of small motor boats and 10 mile-per-hour speed limits were gone; skiing and fast speed boats became the rage. Through it all, The Landing continued to attract flocks of patrons. In the 1980s, however, Casey started to realize that the grocery area in The Landing could not compete with larger local retailers. He eventually enlarged the sandwich counter, transforming the bait shop and grocery into a restaurant with a full menu typical of any diner. "Getting rid of the bait shop was hard to do," Casey admitted. "I still had a summer crowd that relied on us for their fishing needs, but we couldn't survive a whole year on four months of profit." In the early 2000s, the atmosphere of Witmer Lake and the neighboring lakes became upscale. "I could see that people were spending more on their speed boats than what they had originally paid for their cottages!" Casey exclaimed. Many of the cottages were inherited by children and grandchildren of the original owners. Once again, the scene started to change as many of the lake houses were used only as weekend lake homes. Unlike the previous generation, a vast number of the current owners could afford to live closer to their jobs while maintaining lake homes. "At this point, business wasn't growing," Casey said. As local competition continued to increase, Casey converted the diner of The Landing into a bar with a lounge area. "The change might have been too drastic," Casey said, "but it was the only way we could maintain a strong, year-round business in spite of the population shifts and competitive forces." -Which of the following is the macroenvironmental force that benefitted The Landing the most?

A company's marketing environment excludes the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers.

Which of the following is true of the baby boomers?

Which of the following is true of Gen Xers?