Exam 3: Analyzing the Marketing Environment

Which of the following is a component of a firm's microenvironment?

The fact that people are dropping out of organized religion doesn't mean that they are abandoning their faith. Some futurists have noted a renewed interest in ________, perhaps as a part of a broader search for a new inner purpose.

Which of the following is an accurate statement about the income distribution of the American population?

Which of the following has lost population in the past two decades?

Marketers must increasingly consider the special needs of traditional households because this segment of the population is growing more rapidly than nontraditional households.

As a consequence of the concern for the natural environment, many companies are developing strategies and practices that support ________.

Discuss why business legislation is enacted. Provide examples.

Which of the following is a true statement about the benefits of RFID technology?

Marketers can group people in a number of ways, including by birth date. However, the following combination of groups has proven to be more effective: ________.

Government agencies such as the Food and Drug Administration and the Consumer Product Safety Commission investigate and ban potentially unsafe products. Regulations created by these and other agencies result in higher research costs and longer times between new product ideas and their introduction.

Many companies use RFID product labels on their goods, which exemplifies the ________ environment in business.

Which of the following terms is used to describe the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?

A business's suppliers are the most important actors in the company's microenvironment.

Maria works for Sigma Inc., a firm that helps companies target and promote their products to the right markets. Sigma is most likely a ________.

Refer to the scenario below to answer the following question(s). Casey Brickly opened The Landing, a convenience store on the north shore of Witmer Lake, in 1962. With a sandwich counter on one side and a bait shop and grocery on the other, The Landing was an immediate hit with weekend lake visitors and local residents alike. In the summer, boaters parked at the piers and bought all their fishing needs, such as rods and reels, bait, snacks, and soft drinks at The Landing. Even during the winter months, snowmobilers and ice fishermen were lured to The Landing for snacks and hot coffee or hot chocolate. As time passed, the business changed and grew tremendously. What was formerly a weekend tourist area gradually became a full-fledged residential area. Many of the houses, which were built as cottages in the 1950s and 1960s, were remodeled into residential homes. By the end of the 1970s, the days of small motorboats and 10 mile-per-hour speed limits were gone; skiing and fast speedboats became the rage. Through it all, The Landing continued to attract flocks of patrons. In the 1980s, however, Casey started to realize that the grocery area in The Landing could not compete with larger local retailers. He eventually enlarged the sandwich counter, transforming the bait shop and grocery into a restaurant with a full menu typical of any diner. "Getting rid of the bait shop was hard to do," Casey admitted. "I still had a summer crowd that relied on us for their fishing needs, but we couldn't survive a whole year on four months of profit." In the early 2000s, the atmosphere of Witmer Lake and the neighboring lakes became upscale. "I could see that people were spending more on their speed boats than what they had originally paid for their cottages!" Casey exclaimed. Many of the cottages were inherited by children and grandchildren of the original owners. Once again, the scene started to change as many of the lake houses were used only as weekend lake homes. Unlike the previous generation, a vast number of the current owners could afford to live closer to their jobs while maintaining lake homes. "At this point, business wasn't growing," Casey said. As local competition continued to increase, Casey converted the diner of The Landing into a bar with a lounge area. "The change might have been too drastic," Casey said, "but it was the only way we could maintain a strong, year-round business in spite of the population shifts and competitive forces." -Which of the following is the macroenvironmental force that has had the greatest effect on The Landing?

An increasing number of American workers currently work from their homes or remote offices and conduct their business by phone or the Internet. This trend has created a ________.

Which of the following situations is expected to enhance the use of targeted advertising messages by marketers?

The single most important demographic trend in the United States is the ________.

Over the past two decades, the U.S. population has shifted toward the ________ states.

In the 1950s, Americans made a massive exit ________.