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

In developing a marketing plan, a business such as Taco Bell would have to consider all of the layers of competition, not just the primary competitors at the first level.

According to the Rostow model of economic development, during the drive-to-maturity stage, leading sectors shift toward durable goods aimed at a high level of mass consumption.

Because baby boomers represent 42% of the population, they have been divided into two groups: younger boomers, born between 1954 and 1964, and older boomers, born between 1942 and 1953.

According to the World Bank classification system, big emerging markets (BEMs)

All of the following would be examples of a firm's political macroenvironment except

The primary customer groups are consumers, manufacturers, governments, institutions, other businesses, and retailers.

The microenvironment of a firm includes the company, its consumers, suppliers, distributors, other facilitators of the marketing function, and competition.

Because the Netherlands have a flat terrain, efficient transportation of goods is possible. This illustrates the impact of _____ on economic development.

According to the Rostow model of economic development, the _____ stage is characterized by the application of modern technology to all areas of the economy.

Compared to the various demographic groups, empty nesters have the highest average household income, at $58,889.

For Generation Y, time is at a premium as they strive to balance work and family so they outsource daily tasks such as house cleaning, lawn mowing, babysitting, and other domestic chores.

The Senior market, individuals over 65, are expected to grow to above _____ in the next five years.

_____ represent 42% of the population in the United States, but account for 50% of the total spending.

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

The macroenvironment encompasses the elements of the broader environment that are within the control of the firm.

Because _____ tend to stay at home more, they spend 50% more than the average consumer on fruit, vegetables, and other food items.

Research and development expenditures are the highest for the _________________________ industry.

Food, housing, transportation, and personal services are the important categories for the Generation X consumers.

What are the elements of the microenvironment?

Of the various demographic groups, the Younger Boomers are the largest, with 23.9 million households, and have the highest number of people per household, at 3.3.