Question 1

The economic environment consists of economic factors that affect ________.

Accepted Answer

A)  cultural patterns of communities 
B)  entrepreneurial orientation of a population 
C)  the quality of technological innovation 
D)  consumer purchasing power 
E)  the natural environment 
A)  cultural patterns of communities 
B)  entrepreneurial orientation of a population 
C)  the quality of technological innovation 
D)  consumer purchasing power 
E)  the natural environment

Question 2

Which of the following statements about income distribution in the United States is NOT true?

Accepted Answer

A)  Over the past several decades, the rich have grown richer. 
B)  Over the past several decades, the middle class has grown faster than other classes. 
C)  Over the past several decades, the poor have remained poor. 
D)  The top 20 percent of earners capture over 50 percent of all income. 
E)  The top five percent of American earners get nearly 22 percent of the country's adjusted gross income. 
A)  Over the past several decades, the rich have grown richer. 
B)  Over the past several decades, the middle class has grown faster than other classes. 
C)  Over the past several decades, the poor have remained poor. 
D)  The top 20 percent of earners capture over 50 percent of all income. 
E)  The top five percent of American earners get nearly 22 percent of the country's adjusted gross income.

Question 3

Which of the following is true with regard to the diversity segment of U.S. adults with disabilities?

Accepted Answer

A)  Most individuals with disabilities are active consumers. 
B)  The market represented by U.S. adults with disabilities is smaller than that represented by African Americans or Hispanics. 
C)  The diversity segment, U.S. adults with disabilities, is a rather unattractive segment for the tourism industry. 
D)  The annual spending power of U.S. adults with disabilities is less than $100 billion. 
E)  Most companies are reluctant to reach out to consumers with disabilities. 
A)  Most individuals with disabilities are active consumers. 
B)  The market represented by U.S. adults with disabilities is smaller than that represented by African Americans or Hispanics. 
C)  The diversity segment, U.S. adults with disabilities, is a rather unattractive segment for the tourism industry. 
D)  The annual spending power of U.S. adults with disabilities is less than $100 billion. 
E)  Most companies are reluctant to reach out to consumers with disabilities.

Question 4

Katrina Mendoza is a senior manager in a manufacturing firm that hires lobbyists to influence legislation that affects the manufacturing industry. Katrina's firm takes a(n) ________ stance toward the marketing environment.

Accepted Answer

A)  reactive 
B)  proactive 
C)  adversarial 
D)  passive 
E)  altruistic 
A)  reactive 
B)  proactive 
C)  adversarial 
D)  passive 
E)  altruistic

Question 5

In the 1950s, Americans made a massive exit ________.

Accepted Answer

A)  from the South to the Northeast 
B)  from the West to the Midwest 
C)  to foreign countries 
D)  from the cities to the suburbs 
E)  from the coastal towns to the cities 
A)  from the South to the Northeast 
B)  from the West to the Midwest 
C)  to foreign countries 
D)  from the cities to the suburbs 
E)  from the coastal towns to the cities

Question 6

Currently, in the United States, job growth is the strongest for ________.

Accepted Answer

A)  blue collar workers 
B)  manufacturing workers 
C)  professional workers 
D)  construction workers 
E)  sanitation workers 
A)  blue collar workers 
B)  manufacturing workers 
C)  professional workers 
D)  construction workers 
E)  sanitation workers

Question 7

Which of the following is most likely a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?

Accepted Answer

A)  The time between new product ideas and their introduction to the market has decreased. 
B)  Annual spending on research and development has decreased. 
C)  Research costs for companies have risen. 
D)  Product innovation has significantly declined. 
E)  Marketers have grown increasingly apathetic toward meeting safety standards. 
A)  The time between new product ideas and their introduction to the market has decreased. 
B)  Annual spending on research and development has decreased. 
C)  Research costs for companies have risen. 
D)  Product innovation has significantly declined. 
E)  Marketers have grown increasingly apathetic toward meeting safety standards.

Question 8

A company or association's ________ is designed to help guide responses to complex social responsibility issues.

Accepted Answer

A)  code of ethics 
B)  marketing plan 
C)  non-disclosure policy 
D)  privacy policy 
E)  non-compete clause 
A)  code of ethics 
B)  marketing plan 
C)  non-disclosure policy 
D)  privacy policy 
E)  non-compete clause

Question 9

The fact that people are dropping out of organized religion doesn't mean that they are abandoning their faith. Some futurists have noted a renewed interest in ________, perhaps as a part of a broader search for a new inner purpose.

Accepted Answer

A)  interacting with nature 
B)  the fine arts 
C)  charitable giving 
D)  spirituality 
E)  materialism 
A)  interacting with nature 
B)  the fine arts 
C)  charitable giving 
D)  spirituality 
E)  materialism

Question 10

Maria works for Sigma Inc., a firm that helps companies target and promote their products to the right markets. Sigma is most likely a ________.

Accepted Answer

A)  financial intermediary 
B)  physical distribution firm 
C)  marketing services agency 
D)  reseller 
E)  wholesaler 
A)  financial intermediary 
B)  physical distribution firm 
C)  marketing services agency 
D)  reseller 
E)  wholesaler

Question 11

What are the different ways in which the major cultural values of a society are expressed?

Accepted Answer

The major cultural values of a

Question 12

The popularity of cause-related marketing as a form of corporate giving is rapidly declining.

Accepted Answer

A) True 
 B)False

Question 13

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.

Accepted Answer

A)  macroenvironment 
B)  microenvironment 
C)  internal environment 
D)  marketing mix 
E)  marketing intermediaries 
A)  macroenvironment 
B)  microenvironment 
C)  internal environment 
D)  marketing mix 
E)  marketing intermediaries

Question 14

Refer to the scenario below to answer the following question(s).
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 motorboats and 10 mile-per-hour speed limits were gone; skiing and fast speedboats 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 generational groups is most likely to represent the present owners of cottages surrounding Witmer Lake?

Accepted Answer

A)  Baby Boomers 
B)  Echo Boomers 
C)  Gen Xers 
D)  Lost Generation 
E)  Millennials 
A)  Baby Boomers 
B)  Echo Boomers 
C)  Gen Xers 
D)  Lost Generation 
E)  Millennials

Question 15

A firm dumping chemical wastes in the local lake is ________.

Accepted Answer

A)  actively resisting social change 
B)  contributing to organizational anarchy 
C)  engaging in a "do well by doing good" mission 
D)  adopting a proactive stance toward the marketing environment 
E)  contributing to increased pollution 
A)  actively resisting social change 
B)  contributing to organizational anarchy 
C)  engaging in a "do well by doing good" mission 
D)  adopting a proactive stance toward the marketing environment 
E)  contributing to increased pollution

Question 16

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

Accepted Answer

A)  to produce public services 
B)  to resell at a profit 
C)  for further processing 
D)  for personal consumption 
E)  that are generally of poor quality 
A)  to produce public services 
B)  to resell at a profit 
C)  for further processing 
D)  for personal consumption 
E)  that are generally of poor quality

Question 17

________ markets buy goods and services for further processing.

Accepted Answer

A)  Business 
B)  Reseller 
C)  Wholesale 
D)  Consumer 
E)  Retail 
A)  Business 
B)  Reseller 
C)  Wholesale 
D)  Consumer 
E)  Retail

Question 18

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.

Accepted Answer

A)  environmental stance 
B)  proactive stance 
C)  reactive stance 
D)  relativist approach 
E)  no-compromise approach 
A)  environmental stance 
B)  proactive stance 
C)  reactive stance 
D)  relativist approach 
E)  no-compromise approach

Question 19

A consumer organization in Ohio has challenged the marketing decision of a local firm alleging it to be against the larger social interest. In this instance, the firm is challenged by a(n) ________ public.

Accepted Answer

A)  internal 
B)  general 
C)  government 
D)  citizen-action 
E)  media 
A)  internal 
B)  general 
C)  government 
D)  citizen-action 
E)  media

Question 20

Why is it important for marketers to understand cultural swings?

Accepted Answer

Marketers want to predict cultural shift

The economic environment consists of economic factors that affect ________.

Which of the following statements about income distribution in the United States is NOT true?

Which of the following is true with regard to the diversity segment of U.S. adults with disabilities?

Katrina Mendoza is a senior manager in a manufacturing firm that hires lobbyists to influence legislation that affects the manufacturing industry. Katrina's firm takes a(n) ________ stance toward the marketing environment.

In the 1950s, Americans made a massive exit ________.

Currently, in the United States, job growth is the strongest for ________.

Which of the following is most likely a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?

A company or association's ________ is designed to help guide responses to complex social responsibility issues.

The fact that people are dropping out of organized religion doesn't mean that they are abandoning their faith. Some futurists have noted a renewed interest in ________, perhaps as a part of a broader search for a new inner purpose.

Maria works for Sigma Inc., a firm that helps companies target and promote their products to the right markets. Sigma is most likely a ________.

What are the different ways in which the major cultural values of a society are expressed?

The popularity of cause-related marketing as a form of corporate giving is rapidly declining.

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.

A firm dumping chemical wastes in the local lake is ________.

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

________ markets buy goods and services for further processing.

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.

A consumer organization in Ohio has challenged the marketing decision of a local firm alleging it to be against the larger social interest. In this instance, the firm is challenged by a(n) ________ public.

Why is it important for marketers to understand cultural swings?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Relationships

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 3: Analyzing the Marketing Environment

The economic environment consists of economic factors that affect ________.

Which of the following statements about income distribution in the United States is NOT true?

Which of the following is true with regard to the diversity segment of U.S. adults with disabilities?

Katrina Mendoza is a senior manager in a manufacturing firm that hires lobbyists to influence legislation that affects the manufacturing industry. Katrina's firm takes a(n) ________ stance toward the marketing environment.

In the 1950s, Americans made a massive exit ________.

Currently, in the United States, job growth is the strongest for ________.

Which of the following is most likely a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?

A company or association's ________ is designed to help guide responses to complex social responsibility issues.

The fact that people are dropping out of organized religion doesn't mean that they are abandoning their faith. Some futurists have noted a renewed interest in ________, perhaps as a part of a broader search for a new inner purpose.

Maria works for Sigma Inc., a firm that helps companies target and promote their products to the right markets. Sigma is most likely a ________.

What are the different ways in which the major cultural values of a society are expressed?

The popularity of cause-related marketing as a form of corporate giving is rapidly declining.

Sam has been directed to study the demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the ________ of the organization.

A firm dumping chemical wastes in the local lake is ________.

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

________ markets buy goods and services for further processing.

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.

A consumer organization in Ohio has challenged the marketing decision of a local firm alleging it to be against the larger social interest. In this instance, the firm is challenged by a(n) ________ public.

Why is it important for marketers to understand cultural swings?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Relationships

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New Product Development and Product Life-Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters