Exam 3: Analyzing the Marketing Environment
Exam 1: Marketing: Creating Customer Value and Engagement136 Questions
Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships148 Questions
Exam 3: Analyzing the Marketing Environment145 Questions
Exam 4: Managing Marketing Information to Gain Customer Insights145 Questions
Exam 5: Consumer Markets and Buyer Behavior148 Questions
Exam 6: Business Markets and Business Buyer Behavior149 Questions
Exam 7: Customer-Driven Marketing Strategy: Creating Value for Target Customers147 Questions
Exam 8: Products, Services, and Brands: Building Customer Value150 Questions
Exam 9: New Product Development and Product Life-Cycle Strategies143 Questions
Exam 10: Pricing: Understanding and Capturing Customer Value142 Questions
Exam 11: Pricing Strategies: Additional Considerations149 Questions
Exam 12: Marketing Channels: Delivering Customer Value150 Questions
Exam 13: Retailing and Wholesaling147 Questions
Exam 14: Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy146 Questions
Exam 15: Advertising and Public Relations150 Questions
Exam 16: Personal Selling and Sales Promotion149 Questions
Exam 17: Direct, Online, Social Media, and Mobile Marketing140 Questions
Exam 18: Creating Competitive Advantage147 Questions
Exam 19: The Global Marketplace150 Questions
Exam 20: Sustainable Marketing: Social Responsibility and Ethics150 Questions
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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."
-Local publics include consumer organizations, environmental groups, minority groups, and others.
(True/False)
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(41)
Millennials represent a larger demographic segment than the baby boomers or Gen Xers.
(True/False)
4.9/5
(38)
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."
-The technological environment is predominantly static.
(True/False)
4.8/5
(32)
As a consequence of the green movement, many companies are developing strategies and practices that support ________.
(Multiple Choice)
4.9/5
(29)
A country with a(n) ________ economy consumes most of its own agricultural and industrial outputs and offers few market opportunities.
(Multiple Choice)
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(31)
As baby boomers reach their peak earning and spending years, they become lucrative markets for financial services, travel, and entertainment.
(True/False)
4.7/5
(43)
Which of the following generational groups is most comfortable with digital technology and embraces that technology?
(Multiple Choice)
4.9/5
(40)
In the context of geographical shifts in population, the migration toward ________ areas has resulted in a rapid increase in the number of people who telecommute.
(Multiple Choice)
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Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. In this instance, Dan has been directed to study the ________ of the company.
(Multiple Choice)
4.8/5
(41)
Millennials comprise the most financially affluent group in America today.
(True/False)
4.8/5
(39)
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 microenvironment actors has had the most influence on The Landing?
(Multiple Choice)
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(36)
Marketers must increasingly consider the special needs of traditional households because this segment of the population is growing more rapidly than nontraditional households.
(True/False)
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What are two potential drawbacks of creating separate products and marketing programs for each generation?
(Essay)
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Which of the following terms is used to describe the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?
(Multiple Choice)
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(44)
The ________ limits the number of commercials aired during children's programs.
(Multiple Choice)
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The boom in Internet marketing has created a new set of social and ethical issues. Critics worry most about ________.
(Multiple Choice)
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