Question 1

According to the Rostow model of economic development, the second step in modernization is

Accepted Answer

A)  traditional society 
B)  transitional society 
C)  take-off 
D)  the drive to maturity

Question 2

The macroenvironment of a firm includes

Accepted Answer

A)  the company, its consumers, suppliers, distributors, and other facilitators of the marketing function, and competition 
B)  the socio-demographic and cultural environment, the economic and natural environment, the political environment, and the technological environment 
C)  all of a company's stakeholders, such as employees, customers, society, government officials, stockholders, and special interest groups 
D)  all of a company's external stakeholders such as suppliers, government agencies, special interest groups, and the local community

Question 3

Empty nesters, a market identified as individuals between 55 and 64, are subsegment of the

Accepted Answer

A)  Seniors 
B)  Generation X 
C)  Baby Boom generation 
D)  Millennials

Question 4

Manufacturers rely on distributors to deliver their products, to advertise and promote the products, and, often, to offer financing to other distributors down the channel, or to the consumer, and thus facilitate purchase.

Accepted Answer

A) True 
 B)False

Question 5

Lower-class consumers are the most likely to be affected by economic slowdowns since part-time and lower-level jobs are the most likely to be cut.

Accepted Answer

A) True 
 B)False

Question 6

The greatest expense for all income households, except high-income households, is transportation.

Accepted Answer

A) True 
 B)False

Question 7

Most of the countries in Africa would be classified as middle-income countries since they have emerging markets.

Accepted Answer

A) True 
 B)False

Question 8

Discuss the various elements of the socio-demographic and cultural environment as it relates to the marketing function.

Accepted Answer

The answer of Discuss the various elements of the socio-demographic...

Question 9

Hydrology is important in terms of international trade and commerce because it impacts a country's level of economic development.

Accepted Answer

A) True 
 B)False

Question 10

Younger boomers spend a substantial amount of their income on television sets and stereo systems, rather than on major appliances, such as refrigerators and stoves.

Accepted Answer

A) True 
 B)False

Question 11

Big emerging markets (BEMs) are a subcategory of middle-income countries with emerging markets and represent countries with the greatest potential for international trade and expansion.

Accepted Answer

A) True 
 B)False

Question 12

The macroenvironment consists of all of the following except

Accepted Answer

A)  socio-demographic environment 
B)  cultural environment 
C)  technical environment 
D)  competitive environment

Question 13

The _____ are a special category of boomers who perform daily exercise, calculate daily nutritional and caloric needs, orchestrate a social support system, and have a positive self-concept and a passion for living life to the fullest.

Accepted Answer

A)  Millennials 
B)  Second Baby Boomers 
C)  Echo-Boomers 
D)  Zoomers

Question 14

Demographics are statistics that describe a population, such as attitude, interests, and opinions.

Accepted Answer

A) True 
 B)False

Question 15

Norms are derived from a culture's values and are rules that dictate what is right or wrong, acceptable and unacceptable.

Accepted Answer

A) True 
 B)False

Question 16

According to the Rostow model of economic development, the _____ stage is characterized by the dominance of agriculture, minimal productivity, and low growth in per capita output.

Accepted Answer

A)  drive to maturity 
B)  take-off 
C)  transitional society 
D)  traditional society

Question 17

According to the Rostow model of economic development, the most advanced stage of development is the

Accepted Answer

A)  transitional society 
B)  take-off 
C)  drive to maturity 
D)  high mass consumption

Question 18

The cultural landscape in the United States has changed radically with the increase in multiculturalism.

Accepted Answer

A) True 
 B)False

Question 19

Nearly 90% of _____ is either living in a rental or living with parents; therefore, for this segment, spending on homes and home furnishings is a low priority.

Accepted Answer

A)  Generation Y 
B)  Generation X 
C)  Younger Boomers 
D)  Seniors

Question 20

Terrorist attacks against a company's offices in Saudi Arabia would signal risk in a firm's _____.

Accepted Answer

A)  technology environment 
B)  political environment 
C)  socio-demographic environment 
D)  economic and natural environment

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

According to the Rostow model of economic development, the second step in modernization is

The macroenvironment of a firm includes

Empty nesters, a market identified as individuals between 55 and 64, are subsegment of the

Manufacturers rely on distributors to deliver their products, to advertise and promote the products, and, often, to offer financing to other distributors down the channel, or to the consumer, and thus facilitate purchase.

Lower-class consumers are the most likely to be affected by economic slowdowns since part-time and lower-level jobs are the most likely to be cut.

The greatest expense for all income households, except high-income households, is transportation.

Most of the countries in Africa would be classified as middle-income countries since they have emerging markets.

Discuss the various elements of the socio-demographic and cultural environment as it relates to the marketing function.

Hydrology is important in terms of international trade and commerce because it impacts a country's level of economic development.

Younger boomers spend a substantial amount of their income on television sets and stereo systems, rather than on major appliances, such as refrigerators and stoves.

Big emerging markets (BEMs) are a subcategory of middle-income countries with emerging markets and represent countries with the greatest potential for international trade and expansion.

The macroenvironment consists of all of the following except

The _____ are a special category of boomers who perform daily exercise, calculate daily nutritional and caloric needs, orchestrate a social support system, and have a positive self-concept and a passion for living life to the fullest.

Demographics are statistics that describe a population, such as attitude, interests, and opinions.

Norms are derived from a culture's values and are rules that dictate what is right or wrong, acceptable and unacceptable.

According to the Rostow model of economic development, the _____ stage is characterized by the dominance of agriculture, minimal productivity, and low growth in per capita output.

According to the Rostow model of economic development, the most advanced stage of development is the

The cultural landscape in the United States has changed radically with the increase in multiculturalism.

Nearly 90% of _____ is either living in a rental or living with parents; therefore, for this segment, spending on homes and home furnishings is a low priority.

Terrorist attacks against a company's offices in Saudi Arabia would signal risk in a firm's _____.