Question 1

In the U.S., single-adult households account for nearly two thirds of all households.

Accepted Answer

A) True 
 B)False  False

Question 2

Identify the incorrect statement about the concentration of population in the United States.

Accepted Answer

A)  California is the most populated state. 
B)  The most populated U.S. areas developed near inexpensive water transportation. 
C)  Some national marketers pay less attention to the plains and mountain states, which have fewer people. 
D)  The heavy concentration of people in the Northeast still makes this market larger than the West Coast. 
E)  New York is the second most populated state. 
A)  California is the most populated state. 
B)  The most populated U.S. areas developed near inexpensive water transportation. 
C)  Some national marketers pay less attention to the plains and mountain states, which have fewer people. 
D)  The heavy concentration of people in the Northeast still makes this market larger than the West Coast. 
E)  New York is the second most populated state. E

Question 3

In the 10 largest cities in the U.S., no racial or ethnic group has a majority.

Accepted Answer

A) True 
 B)False  True

Question 4

The ethnic composition of a market can be important to marketing managers because

Accepted Answer

A)  treating all members of an ethnic group as one target market is often misleading. 
B)  about 1 out of 5 families speaks a language other than English at home. 
C)  the geographic distribution of ethnic groups varies across the country. 
D)  All of the above are true. 
E)  None of the above is true. 
A)  treating all members of an ethnic group as one target market is often misleading. 
B)  about 1 out of 5 families speaks a language other than English at home. 
C)  the geographic distribution of ethnic groups varies across the country. 
D)  All of the above are true. 
E)  None of the above is true.

Question 5

Teenagers:

Accepted Answer

A)  Have no influence on the buying behavior of their parents. 
B)  Are not an attractive market because they do not spend much money. 
C)  Have become a target for many firms. 
D)  Have essentially the same buying habits as they had before reaching their teen years. 
E)  None of the above. 
A)  Have no influence on the buying behavior of their parents. 
B)  Are not an attractive market because they do not spend much money. 
C)  Have become a target for many firms. 
D)  Have essentially the same buying habits as they had before reaching their teen years. 
E)  None of the above.

Question 6

Asian Americans have the highest median family income of the major ethnic groups.

Accepted Answer

A) True 
 B)False

Question 7

The lowest 20 percent income group in the U.S. receives less than 5 percent of the country's total income.

Accepted Answer

A) True 
 B)False

Question 8

HomeFront Construction Company built large, single-family homes for 25 years. Then there was a shift toward more demand for small luxury condominiums--and HomeFront changed its focus. The change in demand could be explained by:

Accepted Answer

A)  the increasing number of senior citizens who are "empty-nesters." 
B)  the fact that consumers in urban areas generally have higher incomes. 
C)  the increasing number of 45-64 year olds whose children are grown. 
D)  the increase in the number of single-adult households. 
E)  All of the above are likely causes. 
A)  the increasing number of senior citizens who are "empty-nesters." 
B)  the fact that consumers in urban areas generally have higher incomes. 
C)  the increasing number of 45-64 year olds whose children are grown. 
D)  the increase in the number of single-adult households. 
E)  All of the above are likely causes.

Question 9

If American firm Boeing sets up a factory in China, then the GDP figure for China _____ include those profits and the GNI ______.

Accepted Answer

A)  would; would as well 
B)  would; would not 
C)  would not; also would not 
D)  would not; would 
E)  would; would only measure actual sales 
A)  would; would as well 
B)  would; would not 
C)  would not; also would not 
D)  would not; would 
E)  would; would only measure actual sales

Question 10

A young working couple earned $50,000 last year. Of that, they paid $16,000 in taxes and $15,000 in rent, food, insurance and other necessities. Their discretionary income for the year was:

Accepted Answer

A)  $35,000. 
B)  $50,000. 
C)  $19,000. 
D)  $34,000. 
E)  $15,000. 
A)  $35,000. 
B)  $50,000. 
C)  $19,000. 
D)  $34,000. 
E)  $15,000.

Question 11

According to the text, which of the following states had the LARGEST projected percentage increase in population between 2000 and 2010?

Accepted Answer

A)  North Dakota 
B)  Nevada 
C)  West Virginia 
D)  Florida 
E)  Iowa 
A)  North Dakota 
B)  Nevada 
C)  West Virginia 
D)  Florida 
E)  Iowa

Question 12

A Consolidated Metropolitan Statistical Area

Accepted Answer

A)  is a group of small towns or cities that, taken together, have a total population of 100,000. 
B)  is smaller than an MSA. 
C)  is a large metropolitan statistical area--with over 1 million population. 
D)  is the central city area of a large city. 
E)  None of the above is true. 
A)  is a group of small towns or cities that, taken together, have a total population of 100,000. 
B)  is smaller than an MSA. 
C)  is a large metropolitan statistical area--with over 1 million population. 
D)  is the central city area of a large city. 
E)  None of the above is true.

Question 13

Unlike the GDP, the GNI

Accepted Answer

A)  includes foreign income. 
B)  is the total market value of all goods and services provided in a country's economy in a year by nonresidents. 
C)  includes the income earned by residents who do not own resources in that nation. 
D)  does not include income earned by foreigners who own resources in that nation. 
E)  is a measure of regional income. 
A)  includes foreign income. 
B)  is the total market value of all goods and services provided in a country's economy in a year by nonresidents. 
C)  includes the income earned by residents who do not own resources in that nation. 
D)  does not include income earned by foreigners who own resources in that nation. 
E)  is a measure of regional income.

Question 14

The move of the "Baby Boomers" into the 45-64 age group:

Accepted Answer

A)  increased the average age of the population. 
B)  left many colleges and universities with excess capacity. 
C)  contributed to increased interest in health and fitness products. 
D)  All of the above are true. 
E)  None of the above is true. 
A)  increased the average age of the population. 
B)  left many colleges and universities with excess capacity. 
C)  contributed to increased interest in health and fitness products. 
D)  All of the above are true. 
E)  None of the above is true.

Question 15

When considering international markets, income is often one of the most important demographic dimensions.

Accepted Answer

A) True 
 B)False

Question 16

The total market value of goods and services provided in a country's economy per year by both residents and nonresidents of that country is:

Accepted Answer

A)  Gross domestic product. 
B)  Gross national product. 
C)  Gross national income. 
D)  Gross domestic income. 
E)  Gross disposable income 
A)  Gross domestic product. 
B)  Gross national product. 
C)  Gross national income. 
D)  Gross domestic income. 
E)  Gross disposable income

Question 17

Consolidated Metropolitan Statistical Areas (CMSA):

Accepted Answer

A)  are the "central city" areas of the largest urban areas--such as New York City and Los Angeles. 
B)  are the largest MSAs--those with a population of more than 1,000,000. 
C)  are of little interest to marketers because they are defined by political boundaries rather than on some other, more useful, segmenting dimensions. 
D)  have large populations, but usually are only of interest to marketers who are targeting low income consumers. 
E)  Both C and D are true. 
A)  are the "central city" areas of the largest urban areas--such as New York City and Los Angeles. 
B)  are the largest MSAs--those with a population of more than 1,000,000. 
C)  are of little interest to marketers because they are defined by political boundaries rather than on some other, more useful, segmenting dimensions. 
D)  have large populations, but usually are only of interest to marketers who are targeting low income consumers. 
E)  Both C and D are true.

Question 18

"Empty nesters" are people whose children are grown and who are now able to spend their money in other ways.

Accepted Answer

A) True 
 B)False

Question 19

Regarding the age trends in the U. S. population for 2010-2020:

Accepted Answer

A)  The average age of the U. S. population is increasing. 
B)  The number of people in the 45-64 age group is still increasing--although at a slower rate than between 2000-2010. 
C)  The number of senior citizens in the over-65 age group is increasing at a greater rate than between 2000-2010. 
D)  The oldest "baby boomers" are now reaching retirement age. 
E)  All of the above. 
A)  The average age of the U. S. population is increasing. 
B)  The number of people in the 45-64 age group is still increasing--although at a slower rate than between 2000-2010. 
C)  The number of senior citizens in the over-65 age group is increasing at a greater rate than between 2000-2010. 
D)  The oldest "baby boomers" are now reaching retirement age. 
E)  All of the above.

Question 20

All of the following statements about the income distribution in the United States are correct except

Accepted Answer

A)  sixty years ago, most families were just over a subsistence level. 
B)  by the 1970s, real income in the U.S. had risen. 
C)  during the 1960s the growth in income slowed due to inflation. 
D)  since 2000, median income has declined. 
E)  real income growth has slowed. 
A)  sixty years ago, most families were just over a subsistence level. 
B)  by the 1970s, real income in the U.S. had risen. 
C)  during the 1960s the growth in income slowed due to inflation. 
D)  since 2000, median income has declined. 
E)  real income growth has slowed.

Exam 5: Demographic Dimensions of Global Consumer Markets

In the U.S., single-adult households account for nearly two thirds of all households.

Identify the incorrect statement about the concentration of population in the United States.

In the 10 largest cities in the U.S., no racial or ethnic group has a majority.

The ethnic composition of a market can be important to marketing managers because

Teenagers:

Asian Americans have the highest median family income of the major ethnic groups.

The lowest 20 percent income group in the U.S. receives less than 5 percent of the country's total income.

HomeFront Construction Company built large, single-family homes for 25 years. Then there was a shift toward more demand for small luxury condominiums--and HomeFront changed its focus. The change in demand could be explained by:

If American firm Boeing sets up a factory in China, then the GDP figure for China _____ include those profits and the GNI ______.

A young working couple earned $50,000 last year. Of that, they paid $16,000 in taxes and $15,000 in rent, food, insurance and other necessities. Their discretionary income for the year was:

According to the text, which of the following states had the LARGEST projected percentage increase in population between 2000 and 2010?

A Consolidated Metropolitan Statistical Area

Unlike the GDP, the GNI

The move of the "Baby Boomers" into the 45-64 age group:

When considering international markets, income is often one of the most important demographic dimensions.

The total market value of goods and services provided in a country's economy per year by both residents and nonresidents of that country is:

Consolidated Metropolitan Statistical Areas (CMSA):

"Empty nesters" are people whose children are grown and who are now able to spend their money in other ways.

Regarding the age trends in the U. S. population for 2010-2020:

All of the following statements about the income distribution in the United States are correct except

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers,wholesalers,and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters

If American firm Boeing sets up a factory in China, then the GDP figure for China _ include those profits and the GNI __.