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

When the United States experiences a downturn in the economy, reverberations are felt among developed nations, but not in emerging markets.

Baby boomers represent 42% of the population in the United States, but account for only 35% of the total spending.

The population growth rate is the highest for

In the United States and most other industrialized, high-income countries, the focus of the economy is shifting toward

According to the Rostow model, transitional society is characterized by increased productivity in agriculture and an emergence of modern manufacturing.

Identify the six age categories of consumers and the primary purchases of each category.

In the layered approach to understanding a firm's competitors, the inner circle would be the firm's customers.

____________________ is the demographic segment of the population born between 1978 and 2002 and spends substantially on clothing, automobiles, and college education.

Middle-class consumers are less likely to be affected by economic cycles than either lower- or upper-class consumers. Their purchase patterns tend to remain constant as they continue to purchase goods and services.

Age is an important marketing variable because spending habits, media preferences, and interests vary among the different age categories.

Within the company itself, the marketing manager or marketing department will be involved in all of the following arenas except

For seniors, individuals 65 and over, the top three spending categories are drugs, health insurance, and health care.

The largest industry in terms of spending for research and development in 2007 was computer programming and computer equipment.

According to the Rostow model of economic development, the _________________________ is the fourth stage of development characterized by modern technology that is applied to all areas of the economy.

While the purchasing department deals primarily with suppliers, the outcome of the relationship is important to the marketing department for all of the following reasons except

It is the responsibility of the marketing department to manage the various components of the microenvironment, addressing their weaknesses and focusing on their strengths in a manner that is congruent with the company's marketing and organizational goals.

Home mortgages, new furniture, new automobiles, personal indulgence items, investments, and insurance represent priorities for the

The key to understanding the impact of competition on marketing is to examine it from the firm's point of view.

Demographic trends in the United States that will impact marketing in the future include all of the following except

According to the Rostow model of economic development, the _____ stage is characterized by increased productivity in agriculture and the emergence of manufacturing.