Question 1

Ernst Engel's laws generally have been supported by recent studies.He discovered that as family income rises,the percentage spent on ________ declines and the percentage spent on ________ remains about constant.

Accepted Answer

A) food;clothing 
B) clothing;recreation / entertainment 
C) savings;transportation 
D) food;housing 
E) recreation / entertainment;savings

Question 2

Which of the following descriptions most accurately characterises Gen Xers?

Accepted Answer

A) There are more Gen Xers than Millennials. 
B) They are they first to grow up in the internet era 
C) They tend to put career before family. 
D) They are more interested in acquiring goods than having experiences. 
E) They rarely research a product before purchasing it.

Question 3

Although they might now be feeling the pinch of the weakened economy,baby boomers are still the ________ cohort.

Accepted Answer

The answer of Although they might now be feeling the...

Question 4

Marketing management cannot always control __________ forces.

Accepted Answer

The answer of Marketing management cannot always control __________ forces....

Question 5

Trends in people's views of organisations indicate that which of the following has occurred in the past two decades?

Accepted Answer

A) increase in employees' loyalty to their employers 
B) increase in confidence in business and political organisations 
C) decline in loyalty in business and political organisations and institutions. 
D) increased trust in local government but increased distrust in commonwealth government 
E) increase in employees' view of work as a source of personal satisfaction and fulfilment

Question 6

It would be a mistake to think of the older boomers as phasing out or slowing down.Today's boomers think ________,no matter what their chronological age.

Accepted Answer

The answer of It would be a mistake to think...

Question 7

In the natural environment,a renewed love of things natural has created a market Of consumers who seek out natural,organic good.

Accepted Answer

A) True 
 B)False

Question 8

The aim of business legislation is to protect ________.

Accepted Answer

A) consumers 
B) companies 
C) society 
D) All of the above. 
E) A and B only.

Question 9

________ intermediaries include banks,credit organisations,insurance organisations and other businesses whose role includes helping to insure against the risks associated with the buying and selling of goods.

Accepted Answer

The answer of ________ intermediaries include banks,credit organisations,insurance organisations and...

Question 10

Overseas buyers,including consumers,producers,resellers and governments,are part of the ________ market.

Accepted Answer

The answer of Overseas buyers,including consumers,producers,resellers and governments,are part of...

Question 11

Members of which type of market buy goods and services for further processing or for use in their production process?

Accepted Answer

A) business 
B) reseller 
C) wholesale 
D) consumer 
E) retail

Question 12

Some experts warn against extensive use of ________ marketing since each generation spans decades of time and many socioeconomic levels.

Accepted Answer

The answer of Some experts warn against extensive use of...

Question 13

Marketers often split Generation Z into three smaller groups: ________,________ and ________.

Accepted Answer

The answer of Marketers often split Generation Z into three...

Question 14

Consumer groups,environmental groups,minority groups and other public interest groups that question an organisation's marketing decisions are part of the ________ public.

Accepted Answer

The answer of Consumer groups,environmental groups,minority groups and other public...

Question 15

Your marketing department is currently researching the size,density,location,age and occupations of your target market.Which environment is being researched?

Accepted Answer

A) demographic 
B) psychographic 
C) economic 
D) geographic 
E) cultural

Question 16

Trudie works for a distribution channel firm that helps several electronics companies find customers or make sales to them.Trudie works for a reseller.

Accepted Answer

A) True 
 B)False

Question 17

The boom of internet marketing has led to consumer concerns about ________.

Accepted Answer

A) pornography 
B) false advertising 
C) online privacy issues 
D) sustainability 
E) social responsibility

Question 18

Marketers supplying just the right combination of product quality and good service at a fair price is known as ________ marketing.

Accepted Answer

The answer of Marketers supplying just the right combination of...

Question 19

The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.

Accepted Answer

A) raw material market 
B) natural environment 
C) endangered environment 
D) green movement 
E) factors of production

Question 20

Forces that affect new technologies and create new product and market opportunities form part of the ________ environment.

Accepted Answer

The answer of Forces that affect new technologies and create...

Exam 3: The Marketplace and Customers: Analysing the Environment

Ernst Engel's laws generally have been supported by recent studies.He discovered that as family income rises,the percentage spent on declines and the percentage spent on remains about constant.