Question 1

How do socially responsible firms positively impact consumers and the environment?

Accepted Answer

The answer of How do socially responsible firms positively impact...

Question 2

Which of the following is a potential downside to using patriotic themes in marketing programs?

Accepted Answer

A)  Consumers rarely respond to patriotic marketing messages in a favorable manner. 
B)  A consumer's societal orientation has no visible impact on product consumption. 
C)  Patriotism could be viewed as an attempt to cash in on the nation's emotions. 
D)  Patriotic Americans may have less disposable income than reformers. 
E)  Mass marketing has limited appeal among patriotic Millennials.

Question 3

LandPort Transportation and Omega Warehousing help companies move and stock goods from their manufacturing plants to their destinations. These two businesses are examples of ________.

Accepted Answer

A)  resellers 
B)  marketing services agencies 
C)  financial intermediaries 
D)  physical distribution firms 
E)  wholesalers

Question 4

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."
-The macroenvironment consists of the factors close to the company that affect its ability to serve its customers, such as suppliers, customer markets, competitors, and publics.

Accepted Answer

A) True 
 B)False

Question 5

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."
-The aim of the entire value delivery network is to serve target customers and create strong relationships with them.

Accepted Answer

A) True 
 B)False

Question 6

How have large retailers such as Walmart changed the dynamics of partnering with resellers?

Accepted Answer

The answer of How have large retailers such as Walmart...

Question 7

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

Accepted Answer

A)  changing age structure of the population 
B)  mobility of families 
C)  changing family structure of the population 
D)  increasing number of professional jobs 
E)  increasing birth rate

Question 8

Among the generational groups in U.S population, the ________ are still the wealthiest generation in U.S. history.

Accepted Answer

A)  baby boomers 
B)  Generation Xers 
C)  Millennials 
D)  echo boomers 
E)  Silent Generation

Question 9

Companies that take a proactive stance toward the marketing environment are most likely to ________.

Accepted Answer

A)  develop strategies to change the environment in their favor 
B)  passively accept the marketing environment 
C)  resist organizational change 
D)  discourage innovation 
E)  consider technological advances more disruptive than beneficial

Question 10

Laws are passed to define and prevent unfair competition primarily because ________.

Accepted Answer

A)  business executives tend to favor pure monopolies 
B)  businesses sometimes try to neutralize threatening firms 
C)  governments in free market economies tend to nationalize ailing firms 
D)  private lobbying hurts the interests of national and state governments 
E)  most multinational entities in advanced economies are averse to invest in emerging markets

Question 11

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

Accepted Answer

A)  customer demographics 
B)  economic recessions 
C)  population shifts 
D)  marketing intermediaries 
E)  technological changes

Question 12

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

Accepted Answer

A)  demographic environment 
B)  political environment 
C)  economic environment 
D)  technological environment 
E)  cultural environment

Question 13

What are marketing intermediaries and what are the various types?

Accepted Answer

The answer of What are marketing intermediaries and what are...

Question 14

What is demography? Why is the demographic environment of major interest to marketers? Discuss the changing age structure of the U.S. population.

Accepted Answer

The answer of What is demography? Why is the demographic...

Question 15

Prior to the Great Recession of 2008/2009, American consumer spending was careful and restrained.

Accepted Answer

A) True 
 B)False

Question 16

________ provide the resources needed by a company to produce its goods and services.

Accepted Answer

A)  Retailers 
B)  Marketing services agencies 
C)  Resellers 
D)  Suppliers 
E)  Financial intermediaries

Question 17

Mary Adams is helping her company develop a marketing program for a new product line. The program is designed to appeal most to less materialistic consumer groups who are likely to prize experience, not acquisition. The marketing program is most likely designed to appeal to which of the following demographic groups?

Accepted Answer

A)  Generation X 
B)  Millennials 
C)  Echo Boomers 
D)  Silent Generation 
E)  Lost Generation

Question 18

A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of its sales is donated to local after-school programs for underprivileged youth. This is an example of ________.

Accepted Answer

A)  cause-related marketing 
B)  generational marketing 
C)  sustainable marketing 
D)  market segmentation 
E)  product differentiation

Question 19

The demographic environment is of major interest to marketers because it involves people, and people make up markets.

Accepted Answer

A) True 
 B)False

Question 20

Jonathan works for a firm that assists companies in promoting, distributing, and selling their products to end consumers. The firm Jonathan works for is a ________.

Accepted Answer

A)  licensor 
B)  supplier 
C)  marketing intermediary 
D)  local public 
E)  general public

Exam 3: Analyzing the Marketing Environment

How do socially responsible firms positively impact consumers and the environment?

Which of the following is a potential downside to using patriotic themes in marketing programs?

LandPort Transportation and Omega Warehousing help companies move and stock goods from their manufacturing plants to their destinations. These two businesses are examples of ________.

How have large retailers such as Walmart changed the dynamics of partnering with resellers?

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

Among the generational groups in U.S population, the ________ are still the wealthiest generation in U.S. history.

Companies that take a proactive stance toward the marketing environment are most likely to ________.

Laws are passed to define and prevent unfair competition primarily because ________.

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

The marketing team of 7 Star Inc., a company manufacturing smartphones, is currently studying the size, density, location, age, and occupation of its target market. Which of the following environments is being studied in this scenario?

What are marketing intermediaries and what are the various types?

What is demography? Why is the demographic environment of major interest to marketers? Discuss the changing age structure of the U.S. population.

Prior to the Great Recession of 2008/2009, American consumer spending was careful and restrained.

________ provide the resources needed by a company to produce its goods and services.

A regional supermarket chain runs print, radio, and television advertisements announcing that 1 percent of its sales is donated to local after-school programs for underprivileged youth. This is an example of ________.

The demographic environment is of major interest to marketers because it involves people, and people make up markets.

Jonathan works for a firm that assists companies in promoting, distributing, and selling their products to end consumers. The firm Jonathan works for is a ________.