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

Discuss the marketing microenvironment and all of its components.

In terms of the marketing budget as a percentage of a company's revenues, the highest percentage of companies, 43%, have a marketing budget that is between _____ of their company's revenue.

According to the Rostow model of economic development, the first stage of modernization is the transitional society.

_____ were born between 1942 and 1953, and account for 24% of the total spending, an estimated $1 trillion.

Zoomers, a subcategory of seniors, refuse to retire, and want to continue to look good physically; consequently, they are spending large amounts of money on cosmetic surgery, clothing, and sports cars.

While not all customers are alike, a company can use the same marketing plan with only minor variations.

_________________________ is the demographic segment of the population born between 1954 and 1964 whose focus is on the family and home and who pays a large proportion of their income on mortgages, furnishings, pets, and children's toys.

The environment of the firm, which includes the company, its consumers, suppliers, distributors, and other facilitators of the marketing function and competition is the

According to the World Bank classification system, most countries in Africa would be classified as

The macroenvironment of a firm includes the socio-demographic and cultural environment, the economic and natural environment, the political environment, and the technological environment.

For a fast food restaurant such as Subway, the second level of competition would be other fast food restaurants that serve other types of food such as hamburgers, chicken, and tacos.

Distributors are middlemen whose task is to

For many marketers, age is an important characteristic in examining the United States' population because spending habits, media preferences, and interests vary among the different age categories.

The _____ is a society's personality.

Refusing to retire, _____ want to continue to look good, therefore, they spend heavily on cosmetic surgery, clothes, and sports cars.

On the average, most firms spend around _____ of their sales revenue on the marketing function.

Higher inflation and higher unemployment, which can be caused by an economic downturn, is likely to lead to all of the following except

The country that spends the most on research and development is

Because their children have left the home, _____ focus their attention on fancy, new automobiles they could not afford earlier. They also purchase new furniture, appliances, and china to enhance the appearance of their homes.

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