Exam 2: The Environment of Marketing in the Twenty-First Century

Discuss the technological component of the macroenvironment and how it relates to marketing.

____________________ is the demographic segment of the population born between 1965 and 1977 whose focus is on family and children, striving to balance family with work responsibilities.

In the United States the highest level of spending on research and development, over $200 billion, is attributed to:

Empty nesters, ages 55-64, focus on home mortgages, new furniture, new automobiles, and personal indulgence items since their children have left home and they have already paid for their college.

Distributors are middlemen whose task is to ensure the convenient, timely, and safe distribution of products to consumers.

According to the World Bank classification of countries, China would be classified as a

Topography is important because it determines

Insurance and investments are high-ticket items for _____ as they think about their later years and retirement. With fewer responsibilities at home, this demographic group spends considerably more on vacations and recreation than the other demographic groups.

Upgrading their homes, ensuring education and independence of their children, luxury items likes boats, and going on vacations are the spending priorities for the

Topography, hydrology, climate, population, and environmental quality contribute to the status of a particular country as a viable trade partner.

Keeping current customers is important, because it costs approximately three times more to gain a new customer than it does to retain a current customer.

Oceans, lakes, and rivers are important because they determine access to local markets. This illustrates the impact of _____ on economic development.

It is important for marketing to have a voice in company strategies for all of the following reasons except

_________________________ is the demographic segment of the population between the ages of 55-64 with a large disposable income and who spends heavily on fancy automobiles, new furniture and new appliances.

Expenses for necessities, such as food and personal care products and services, remains constant as a proportion of income as household income increases.

_____ contributes only 5% of the total spending power and is the smallest of the six demographic groups, but is growing in both size and wealth.

According to the World Bank classification system, middle-income countries

For a dine-in restaurant such as Applebee's, a primary competitor that would be placed in the inner circle of a layered diagram would be

Food, housing, transportation, and personal services are big spending items for this demographic group. Their focus is on the family and children.

Baby boomers represent 42 percent of the population in the United States, but account for _____ percent of the total spending.