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

According to the Rostow model of economic development, the ______________________________ stage of economic development is where sectors shift toward durable goods and an increased allocation of resources to social welfare programs.

The categories of countries based on the World Bank's classification system include developed countries, emerging markets, and industrialized countries.

Firms that rate highly on interdepartmental connectedness through sharing information with all other departments in the company are more successful in reaching overall organizational sales and profit objectives.

What are emerging markets?

The demographic group that accounts for the lowest percentage of total U.S. spending, at 5%, is

The highest annual average spending per household is by

A continuously evolving totality of learned and shared meanings, rituals, norms, and traditions among the members of an organization or society is the definition of

The primary driver of change in today's society is

A poor economic performance and forecast are likely to lead to greater levels of risk for companies because of higher inflation and higher unemployment.

Older boomers, born between 1942 and 1953, spend more on insurance and investments as they think about retirement. With fewer responsibilities at home, they also spend considerably more on vacations and recreation than the other demographic groups.

Economic development can be explained in terms of productivity, economic exchange, technological improvements, and income.

Statistics that describe a population such as age, gender, education, occupation, and income are called ____________________.

_____ can be described as having financial smarts since they have already started saving for retirement. They want jobs with flexibility that allows them to accommodate family and personal lives. As consumers they are multitaskers juggling e-mail while talking on cellphones and working online.

Examples of middle income countries with emerging markets include Brazil, Argentina, Chile, Peru, and the transitional economies of Central and Eastern Europe.

The primary driver of change in today's society is advances in technology.

The _____ industry had the highest share of research and development expenditures in 2007.

A country's population is an important economic factor because a high population can tax a country's infrastructure and impede the optimal functioning of business.

According to the Rostow model of economic development, the ____________________ is the third stage of economic development, where growth becomes the norm, incomes rise, and leading service sectors emerge.

Individualism and materialism were dominant values in the United States until the terrorist attacks of September 11, 2001, when many turned their attention more to family and nurturing relationships. This is an example of

_____ spend considerable amount of their income on mortgages, home furnishings, and renovations. The remaining disposable income is spent on family purchases such as toys, pets, playground equipment, and large recreational items such as boats and four-wheelers.