Exam 5: Analyzing the Marketing Environment

Nest thermostats allow consumers to control the temperature in their home by using the app on their phone. The Nest also "learns" the patterns of a household and adjusts the temperature based on this information. Like other smart-home devices, the Nest is part of a group of products that represent

Marketers will often decide which population segments to target based on income because income determines consumer

Every year Karl reassesses the economic situation in the target markets his company serves. What factors will Karl likely assess?

Baby Boomers represent a tremendous opportunity for today's marketers. Who are the Baby Boomers? Based on their age, what might be some products that they would be interested in?

When analyzing the immediate environment and the macroenvironment, marketers must be careful to keep the firm at the center of all analyses.

The Mayo Clinic in Minnesota is known for top-quality medical care. For decades, even presidents and dictators from around the world traveled to the Mayo Clinic to utilize its services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida, and elsewhere. This is an example of a firm focusing its efforts on satisfying customer needs that

In the summer of 2002 the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but in early 2016, the euro and the dollar were nearly equivalent. This change in value represents

Discuss how privacy concerns have become a current social issue. What technological invention has prompted the rise in concern over privacy?

Marketers know that, compared to high school graduates who are working full time, college students

In some lower socioeconomic U.S. communities, there are groups of people who don't have access to fresh food options. They might shop at convenience stores where only packaged foods are available and there are no fresh fruits or vegetables. The nearest grocery store is many miles away and not accessible. These communities are referred to as

The difference between a firm's immediate marketing environment and its macroenvironment is that the macroenvironment

For some products, marketers can combine education level with other data like occupation and income to obtain

An Uncle Ben's box of rice has a symbol stating that the packaging is made from 100 percent recycled material and encourages consumers to recycle. Identify the social trend being addressed by Uncle Ben's.

When Marcus went to college, tuition was $650 per semester. Now that same college charges $6,500 per semester. This number reflects a persistent increase in price known as

What would be a likely consumer response when inflation increases?

Marketers must consider the entire business process from the point of view of the

People participate in many cultures, which makes it more important for marketers to have products or services that can relate to more than one particular group.

The political\legal environment comprises political parties, governmental organizations, and

Nearly 50 percent of U.S. adults now recycle their soda bottles and newspapers, compelling marketers to practice

A listing on eBay featured a refurbished iMac desktop computer; interested buyers all ranged in age from teenagers to adults with their own families. Based on the ages of those showing interest, these buyers were likely from which generational cohort?