Home pageLawlegal administrationFederal Trade CommissionBA 370 Chapter 5 Haddock - Index Cards
Kenneth Wheeler
July 7, 2022
Ask
By paying close attention to customer needs and continually monitoring the business environment in which they operate, a good marketer can identify potential opportunities.
answer
TRUE
Ask
When analyzing the immediate environment and the macro environment, marketers must ensure that the company is at the center of all analysis.
answer
INCORRECT
Ask
The marketing firm needs to look at the entire business process from a consumer perspective.
answer
TRUE
Ask
In the immediate vicinity, competition has no impact on consumers.
answer
INCORRECT
Ask
The three elements of the consumer's immediate environment are the business, the competition, and the business partners.
answer
TRUE
Ask
Demographic data is passed from generation to generation through words, literature and institutions.
answer
INCORRECT
Ask
Customer demographic profiles provide an easy-to-understand “snapshot” of the typical consumer in a specific target market.
answer
TRUE
Ask
As the euro strengthens against the dollar, Americans are likely to buy more European wines.
answer
INCORRECT
Ask
The macro-environmental factors include the company, competition and company partners.
answer
INCORRECT
Ask
Generation Y is also known as Millennials.
answer
TRUE
Ask
The children of the baby boomers, Generation X is the largest cohort since the original post-war boom in World War II.
answer
INCORRECT
Ask
The members of Generation X are also referred to as digital natives.
answer
INCORRECT
Ask
One of the social trends discussed in the text shaping consumer values in the United States and around the world is concern about the huge income inequality.
answer
INCORRECT
Ask
Culture can be broadly defined as the shared meaning, beliefs, morals, values, and customs of a group of people.
answer
TRUE
Ask
Companies like Burger King have stopped using cartoon characters to advertise products like burgers and fries because the characters have not long been popular with young children.
answer
INCORRECT
Ask
Socially responsible marketing involves a strategic effort by companies to provide customers with environmentally friendly, sustainable goods and services.
answer
INCORRECT
Ask
Companies that dishonestly market products or services as environmentally friendly with the goal of gaining public acclaim and sales rather than actually improving the environment engage in greenwashing.
answer
TRUE
Ask
The next broad wave of mobile applications is likely to expand the use of wireless payments through applications such as Apple Pay, Google Wallet, Master Card's Easy Pay and Softcard Mobile Wallet, all of which allow customers' phones to serve as m-wallets.
answer
TRUE
Ask
Inflation refers to the cost of borrowing.
answer
INCORRECT
Ask
The Sherman Antitrust Act of 1890 prohibits monopolies and other activities that would restrict trade or competition and makes fair trade within a free market a national goal.
answer
TRUE
Ask
Consumer needs and desires, as well as their ability to buy, depend on a multitude of factors that remain constant over time.
answer
INCORRECT
Ask
Parties collaborating with the focus firm are its corporate partners.
answer
TRUE
Ask
Jeanne, who lives in Boston, calls Pepsi "tonic", while Paul, who lives in Chicago, calls it "pop". This is an example of a regional cultural difference.
answer
TRUE
Ask
Lisle Hair Company tracks the gender and age of their customers so they can target emails to them and be sure they have the right hair products in stock when they visit. This is an example of using demographics in marketing.
answer
TRUE
Ask
Using age as a basis for identifying customers is unethical as it breeds stereotypes.
answer
INCORRECT
Ask
As a clothing retail manager, Randy often asks his employees what customers are saying and what they are asking for. He also participates in the quarterly clothing fair in the regional commodity market. Randy's efforts will likely help him
answer
identify potential opportunities.
Ask
The heart of the framework for analyzing the marketing environment is
answer
Consumer.
Ask
A company's macro environment includes all of the following exceptions
answer
Competition.
Ask
Central to all marketing efforts
answer
the consumer.
Ask
The development of CVS Health's mobile apps in conjunction with the on-site MinuteClinics is a response to a __________ trend surrounding health and wellness.
answer
social
Ask
One of the goals of value-based marketing is
answer
to offer greater value than the competition.
Ask
Ryan knows that one of the goals of value-based marketing is to provide consumers with greater value than the competition is offering. To achieve this goal, Ryan's company must examine everything it does
answer
from a consumer perspective.
Ask
Yvonne knows her company needs to look at everything from a consumer perspective. A major difficulty is that consumer __________ change over time.
answer
Needs, desires and purchase options
Ask
Choose the statement that best describes the main characteristics of Generation Y.
answer
This generation varies most in age, ranging from teenagers to adults who have families of their own.
Ask
Which of the following statements accurately describes the current distribution of income in the United States?
answer
Wealthy households outperform both poor and middle-class households.
Ask
When you register your phone number with the National Do Not Call Registry, you are responding to a need for
answer
Privacy.
Ask
In the immediate marketing environment, the first factor influencing the consumer is the
answer
the company itself.
Ask
Successful companies focus their efforts on meeting customer needs
answer
match their core competencies.
Ask
The Mayo Clinic in Minnesota is known for world-class medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic for their services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida and elsewhere. This is an example of a company that focuses its efforts on satisfying customer needs
answer
match its core competencies.
Ask
Yuri is considering a new advertising campaign in which he will compare his products to those of his competitors. Before starting the advertising campaign, Yuri will evaluate the strengths, weaknesses and strengths of his competitors
answer
likely response to its promotional activities.
Ask
The companies that work with the focus company to provide goods and services to consumers are considered
answer
corporate partner.
Ask
Yellow Trucking offers hauling services for Dan's Delicious Donuts so Dan's Stores always have fresh stock. Yellow trucking is an example of a
answer
corporate partner
Ask
The difference between a company's immediate marketing environment and its macro environment is the macro environment
answer
is external
Ask
The shared meanings, beliefs, morals, values, and customs of a group of people make up theirs
answer
cultural
Ask
Political candidates are known for appealing to the diverse beliefs and values of groups of potential voters in different regions of the country. These politicians appeal to differences in
answer
regional culture
Ask
Insight Guides, a series of travel books, provide travelers with background information on the beliefs, values and customs of people in different parts of the world. Insight's books inform travelers about the countries of a country
answer
cultural
Ask
When studying culture, the challenge for marketers is to determine if culture
answer
can help identify a specific group that might be interested in the marketer's products.
Ask
Late on the day of September 11, 2001, the day of the World Trade Center attacks, Americans bought every American flag available to Walmart stores nationwide. These purchases were indicative of
answer
country culture.
Ask
The United States has often been described as a "melting pot" society, integrating people from many different cultures into the country's social fabric. The challenge for marketers is determining whether a group's culture
answer
can be used as a relevant identifier for a specific audience.
Ask
If an advertiser is considering using a radio commercial in England designed for the US markets, will they likely need to consider which of the following cultural aspects might be different between the two countries?
answer
Language
Ask
In New England, foot-length sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the effects of
answer
regional culture.
Ask
Shifting of population from the Rust Belt in the north to the Sun Belt in the south and southwest will be likely
answer
reduce regional cultural differences.
Ask
Typical demographics include all of the following exceptions
answer
language differences.
Ask
When marketers look at advertising media, they often start with viewer or listener profiles such as age, income, gender, and race. They then match the media profile to their target audience. These marketers use __________ to see if the media "fits" with their advertising agenda.
answer
demographics
Ask
Generational cohorts are groups of people of the same generation who have similar _________ because they have shared experiences and are at the same stage in life.
answer
buying behavior
Ask
World Series viewers are likely to see ads for beer and cars, and Oscar viewers are likely to see ads for clothing and hair care products
answer
different demographics for potential and former viewers.
Ask
________ differs from the other generational cohorts in that the oldest members of the group now receive Social Security.
answer
baby boomers
Ask
Marketers looking to use social media to reach consumers should understand that people in the _______ group were born into a world that was already full of electronic devices and digital technologies such as the internet and social networking.
answer
Generation Z
Ask
To which generation cohort do the first latchkey children belong?
answer
Generation X
Ask
According to your text, the richest 1 percent of the population controls approximately what percent of Americans' total net worth?
answer
34.6 percent
Ask
The ABC Company knew their customers were interested in green business practices, so they began labeling all of their products as eco-friendly because they were made from all-natural ingredients, even though ABC's factory was one of the city's worst polluters. The term for this practice is
answer
Green washing.
Ask
When considering income as a demographic variable affecting marketing efforts, marketers need to realize that A. Everyone is equal.
answer
Incomes in the United States are more unequally distributed.
Ask
Smart marketers recognize the growing income inequality between upper and lower income brackets
answer
creates opportunities to add value to each group.
Ask
Population estimates show that by 2050, nearly 30 percent of the population in the United States will come from which group?
answer
Hispanics
Ask
For some products, advertisers may combine educational level with other data, such as occupation and income, to obtain them
answer
accurate predictions of purchasing behavior.
Ask
Marketers know that college students work full-time compared to high school seniors
answer
spend their available dollars differently.
Ask
Which of the following statements is true about modern gender roles?
answer
Gender roles have been blurred in recent years.
Ask
The 2010 census results suggest what about the 42 million African American US households?
answer
They are wealthier and more suburban.
Ask
Marketers in the United States are increasingly paying attention to ethnic groups because
answer
About 80 percent of all population growth over the next 20 years is expected to come from minority groups.
Ask
Marketers tend to find higher concentrations of foreign-born Americans and recent immigrants
answer
New York, Los Angeles, San Francisco and Chicago.
Ask
Although Asian Americans make up only about 5.6 percent of the US population, they do represent
answer
the fastest growing minority.
Ask
Strategic efforts are required to provide consumers with environmentally friendly goods
answer
ecological marketing.
Ask
By offering eco-friendly products, green marketers
answer
Added value that other products do not have.
Ask
Many American consumers buy hybrid cars even though they are more expensive than traditional small cars. These consumers
answer
worth contributing to a greener environment.
Ask
Every time a consumer surfs the web and clicks through to a website, online marketers can place _____ on that user's computer and show them where the user begins, continues, and ends the online encounter—as well as what the user is buying and what not .
answer
Cookies
Ask
Which retailer suffered a massive security breach in 2013 that allowed hackers to steal credit and debit card information from millions of customers?
answer
Goal
Ask
What technological advance allows a company to track an item from its manufacture, through the distribution system, to the retail store, and into the hands of the end consumer?
answer
RFID-Tags
Ask
A technological advance called RFID makes it easier for manufacturers, distributors, and retailers to track items in production, distribution, and sale. This lead helps the company
answer
meet inventory needs.
Ask
When marketers monitor the economic situation affecting their target markets, they are likely to see changes in all of the following areas except:
answer
Alter.
Ask
If the rate of inflation in Mexico was twice that in the United States, but the Mexican monetary authorities kept the peso-dollar exchange rate nearly constant, which of the following statements would be true?
answer
Mexican products would become more expensive, while products made in the US would become comparatively cheaper.
Ask
Consumers benefit from laws that prohibit the formation of monopolies or alliances that would harm a competitive market
answer
increased choice.
Ask
Which of the following groups has never lived without easy access to the internet and other digital technologies?
answer
Generation Z
Ask
Which of these is a macroenvironmental factor?
answer
cultural
Ask
When Kimberly-Clark introduced paperless toilet paper rolls, what societal trend did this product address?
answer
ecological marketing
Ask
If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it could consider all of the following ideas except
answer
Creation of an advertising campaign for primary school children.
Ask
Let's say you're the vice president of marketing at Target, the major retail chain. You want to keep your website and in-store services updated with technological advances. You might consider experimenting with what is likely to be the next anticipated development in mobile technology, viz
answer
wireless payments from mobile devices.
Ask
Some companies have been accused of exploiting the current societal trend of green marketing and positioning their products as eco-friendly, when this may not be the case. This is called
answer
Green washing.
Ask
Part of the societal trend toward health and wellness is concern about increasing levels of obesity in the United States. In this context, the text notes the increasing popularity of
answer
Yoga.
Ask
The political/regulatory environment includes political parties, government organizations and
answer
legislation and laws.
Ask
Christy, a marketing executive born in 1955, advocated that her company focus on a print campaign for her new line of lipsticks rather than spending money on online ads. This view can be attributed to being a member of which generational cohort?
answer
Baby-Boomer
Ask
Which generation are also referred to as Millennials?
answer
Gene Y
Ask
The poorest 10 percent of the US population earned less than _______ per week in 2014.
answer
$412
Ask
Which statement about changing ethnicity in the United States is correct?
answer
African-American US households are more affluent than previous studies have suggested.
Ask
According to the text, 14 cable companies agreed to provide inexpensive Internet access to impoverished families for all of the following reasons
answer
higher revenue from a larger number of subscribers.
Ask
The government has enacted laws that promote both fair trade and competition, prohibiting the formation of monopolies or alliances that would harm a competitive market, and promoting fair pricing practices for all suppliers and consumers. These measures are part of the ________ business environment.
answer
political/regulatory
Ask
Which of the following statements specifically forbids monopolies?
answer
Sherman Cartel Act
Ask
What is most likely to happen when inflation rises?
answer
Consumers are buying cheaper groceries.
Ask
________ is the cost to customers, or the fee charged by the bank to those customers for borrowing money.
answer
Interest
Ask
In the summer of 2002, the euro was valued at just under 1 US dollar. By 2008 it had risen to an all-time high of $1.60, but by early 2016 the euro and dollar were almost par. This value change is called
answer
exchange rate fluctuations.
Ask
When Diana went to college, tuition was $650 per semester. Now the same college charges $6,500 per semester. This number reflects a sustained price increase known as
answer
Inflation.
Ask
From a business perspective, the biggest advantage is RFID
answer
It allows the company to track an item from the moment it was manufactured.
Ask
Which of the following statements is an example of greenwashing?
answer
A company donates money to a school reading project to promote it as environmentally friendly.
Ask
Almost what percentage of adults in the US now recycle their soda bottles and newspapers?
answer
50 percent
Ask
Which of the following is a social trend listed in the text?
answer
health and wellness
Ask
Which ethnic group in the United States tends to be higher earners, higher educated, and more likely to be employed or own a business?
answer
asian american
Ask
Which ethnic group tends not only to be more affluent and suburban than previously thought, but also younger, with 47 percent aged between 18 and 49?
answer
African American
Ask
A generational cohort is a group of people
answer
who belong to the same generation.
1von
Unlock all answers in this set
Unlock answers
Ask
By paying close attention to customer needs and continually monitoring the business environment in which they operate, a good marketer can identify potential opportunities.
answer
TRUE
Ask
When analyzing the immediate environment and the macro environment, marketers must ensure that the company is at the center of all analysis.
answer
INCORRECT
Ask
The marketing firm needs to look at the entire business process from a consumer perspective.
answer
TRUE
Ask
In the immediate vicinity, competition has no impact on consumers.
answer
INCORRECT
Ask
The three elements of the consumer's immediate environment are the business, the competition, and the business partners.
answer
TRUE
Ask
Demographic data is passed from generation to generation through words, literature and institutions.
answer
INCORRECT
Ask
Customer demographic profiles provide an easy-to-understand “snapshot” of the typical consumer in a specific target market.
answer
TRUE
Ask
As the euro strengthens against the dollar, Americans are likely to buy more European wines.
answer
INCORRECT
Ask
The macro-environmental factors include the company, competition and company partners.
answer
INCORRECT
Ask
Generation Y is also known as Millennials.
answer
TRUE
Ask
The children of the baby boomers, Generation X is the largest cohort since the original post-war boom in World War II.
answer
INCORRECT
Ask
The members of Generation X are also referred to as digital natives.
answer
INCORRECT
Ask
One of the social trends discussed in the text shaping consumer values in the United States and around the world is concern about the huge income inequality.
answer
INCORRECT
Ask
Culture can be broadly defined as the shared meaning, beliefs, morals, values, and customs of a group of people.
answer
TRUE
Ask
Companies like Burger King have stopped using cartoon characters to advertise products like burgers and fries because the characters have not long been popular with young children.
answer
INCORRECT
Ask
Socially responsible marketing involves a strategic effort by companies to provide customers with environmentally friendly, sustainable goods and services.
answer
INCORRECT
Ask
Companies that dishonestly market products or services as environmentally friendly with the goal of gaining public acclaim and sales rather than actually improving the environment engage in greenwashing.
answer
TRUE
Ask
The next broad wave of mobile applications is likely to expand the use of wireless payments through applications such as Apple Pay, Google Wallet, Master Card's Easy Pay and Softcard Mobile Wallet, all of which allow customers' phones to serve as m-wallets.
answer
TRUE
Ask
Inflation refers to the cost of borrowing.
answer
INCORRECT
Ask
The Sherman Antitrust Act of 1890 prohibits monopolies and other activities that would restrict trade or competition and makes fair trade within a free market a national goal.
answer
TRUE
Ask
Consumer needs and desires, as well as their ability to buy, depend on a multitude of factors that remain constant over time.
answer
INCORRECT
Ask
Parties collaborating with the focus firm are its corporate partners.
answer
TRUE
Ask
Jeanne, who lives in Boston, calls Pepsi "tonic", while Paul, who lives in Chicago, calls it "pop". This is an example of a regional cultural difference.
answer
TRUE
Ask
Lisle Hair Company tracks the gender and age of their customers so they can target emails to them and be sure they have the right hair products in stock when they visit. This is an example of using demographics in marketing.
answer
TRUE
Ask
Using age as a basis for identifying customers is unethical as it breeds stereotypes.
answer
INCORRECT
Ask
As a clothing retail manager, Randy often asks his employees what customers are saying and what they are asking for. He also participates in the quarterly clothing fair in the regional commodity market. Randy's efforts will likely help him
answer
identify potential opportunities.
Ask
The heart of the framework for analyzing the marketing environment is
answer
Consumer.
Ask
A company's macro environment includes all of the following exceptions
answer
Competition.
Ask
Central to all marketing efforts
answer
the consumer.
Ask
The development of CVS Health's mobile apps in conjunction with the on-site MinuteClinics is a response to a __________ trend surrounding health and wellness.
answer
social
Ask
One of the goals of value-based marketing is
answer
to offer greater value than the competition.
Ask
Ryan knows that one of the goals of value-based marketing is to provide consumers with greater value than the competition is offering. To achieve this goal, Ryan's company must examine everything it does
answer
from a consumer perspective.
Ask
Yvonne knows her company needs to look at everything from a consumer perspective. A major difficulty is that consumer __________ change over time.
answer
Needs, desires and purchase options
Ask
Choose the statement that best describes the main characteristics of Generation Y.
answer
This generation varies most in age, ranging from teenagers to adults who have families of their own.
Ask
Which of the following statements accurately describes the current distribution of income in the United States?
answer
Wealthy households outperform both poor and middle-class households.
Ask
When you register your phone number with the National Do Not Call Registry, you are responding to a need for
answer
Privacy.
Ask
In the immediate marketing environment, the first factor influencing the consumer is the
answer
the company itself.
Ask
Successful companies focus their efforts on meeting customer needs
answer
match their core competencies.
Ask
The Mayo Clinic in Minnesota is known for world-class medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic for their services. The Mayo Clinic used its reputation to create additional medical facilities in Jacksonville, Florida and elsewhere. This is an example of a company that focuses its efforts on satisfying customer needs
answer
match its core competencies.
Ask
Yuri is considering a new advertising campaign in which he will compare his products to those of his competitors. Before starting the advertising campaign, Yuri will evaluate the strengths, weaknesses and strengths of his competitors
answer
likely response to its promotional activities.
Ask
The companies that work with the focus company to provide goods and services to consumers are considered
answer
corporate partner.
Ask
Yellow Trucking offers hauling services for Dan's Delicious Donuts so Dan's Stores always have fresh stock. Yellow trucking is an example of a
answer
corporate partner
Ask
The difference between a company's immediate marketing environment and its macro environment is the macro environment
answer
is external
Ask
The shared meanings, beliefs, morals, values, and customs of a group of people make up theirs
answer
cultural
Ask
Political candidates are known for appealing to the diverse beliefs and values of groups of potential voters in different regions of the country. These politicians appeal to differences in
answer
regional culture
Ask
Insight Guides, a series of travel books, provide travelers with background information on the beliefs, values and customs of people in different parts of the world. Insight's books inform travelers about the countries of a country
answer
cultural
Ask
When studying culture, the challenge for marketers is to determine if culture
answer
can help identify a specific group that might be interested in the marketer's products.
Ask
Late on the day of September 11, 2001, the day of the World Trade Center attacks, Americans bought every American flag available to Walmart stores nationwide. These purchases were indicative of
answer
country culture.
Ask
The United States has often been described as a "melting pot" society, integrating people from many different cultures into the country's social fabric. The challenge for marketers is determining whether a group's culture
answer
can be used as a relevant identifier for a specific audience.
Ask
If an advertiser is considering using a radio commercial in England designed for the US markets, will they likely need to consider which of the following cultural aspects might be different between the two countries?
answer
Language
Ask
In New England, foot-length sandwiches are called "grinders," while in many other parts of the country they are called "subs." This is an example of the effects of
answer
regional culture.
Ask
Shifting of population from the Rust Belt in the north to the Sun Belt in the south and southwest will be likely
answer
reduce regional cultural differences.
Ask
Typical demographics include all of the following exceptions
answer
language differences.
Ask
When marketers look at advertising media, they often start with viewer or listener profiles such as age, income, gender, and race. They then match the media profile to their target audience. These marketers use __________ to see if the media "fits" with their advertising agenda.
answer
demographics
Ask
Generational cohorts are groups of people of the same generation who have similar _________ because they have shared experiences and are at the same stage in life.
answer
buying behavior
Ask
World Series viewers are likely to see ads for beer and cars, and Oscar viewers are likely to see ads for clothing and hair care products
answer
different demographics for potential and former viewers.
Ask
________ differs from the other generational cohorts in that the oldest members of the group now receive Social Security.
answer
baby boomers
Ask
Marketers looking to use social media to reach consumers should understand that people in the _______ group were born into a world that was already full of electronic devices and digital technologies such as the internet and social networking.
answer
Generation Z
Ask
To which generation cohort do the first latchkey children belong?
answer
Generation X
Ask
According to your text, the richest 1 percent of the population controls approximately what percent of Americans' total net worth?
answer
34.6 percent
Ask
The ABC Company knew their customers were interested in green business practices, so they began labeling all of their products as eco-friendly because they were made from all-natural ingredients, even though ABC's factory was one of the city's worst polluters. The term for this practice is
answer
Green washing.
Ask
When considering income as a demographic variable affecting marketing efforts, marketers need to realize that A. Everyone is equal.
answer
Incomes in the United States are more unequally distributed.
Ask
Smart marketers recognize the growing income inequality between upper and lower income brackets
answer
creates opportunities to add value to each group.
Ask
Population estimates show that by 2050, nearly 30 percent of the population in the United States will come from which group?
answer
Hispanics
Ask
For some products, advertisers may combine educational level with other data, such as occupation and income, to obtain them
answer
accurate predictions of purchasing behavior.
Ask
Marketers know that college students work full-time compared to high school seniors
answer
spend their available dollars differently.
Ask
Which of the following statements is true about modern gender roles?
answer
Gender roles have been blurred in recent years.
Ask
The 2010 census results suggest what about the 42 million African American US households?
answer
They are wealthier and more suburban.
Ask
Marketers in the United States are increasingly paying attention to ethnic groups because
answer
About 80 percent of all population growth over the next 20 years is expected to come from minority groups.
Ask
Marketers tend to find higher concentrations of foreign-born Americans and recent immigrants
answer
New York, Los Angeles, San Francisco and Chicago.
Ask
Although Asian Americans make up only about 5.6 percent of the US population, they do represent
answer
the fastest growing minority.
Ask
Strategic efforts are required to provide consumers with environmentally friendly goods
answer
ecological marketing.
Ask
By offering eco-friendly products, green marketers
answer
Added value that other products do not have.
Ask
Many American consumers buy hybrid cars even though they are more expensive than traditional small cars. These consumers
answer
worth contributing to a greener environment.
Ask
Every time a consumer surfs the web and clicks through to a website, online marketers can place _____ on that user's computer and show them where the user begins, continues, and ends the online encounter—as well as what the user is buying and what not .
answer
Cookies
Ask
Which retailer suffered a massive security breach in 2013 that allowed hackers to steal credit and debit card information from millions of customers?
answer
Goal
Ask
What technological advance allows a company to track an item from its manufacture, through the distribution system, to the retail store, and into the hands of the end consumer?
answer
RFID-Tags
Ask
A technological advance called RFID makes it easier for manufacturers, distributors, and retailers to track items in production, distribution, and sale. This lead helps the company
answer
meet inventory needs.
Ask
When marketers monitor the economic situation affecting their target markets, they are likely to see changes in all of the following areas except:
answer
Alter.
Ask
If the rate of inflation in Mexico was twice that in the United States, but the Mexican monetary authorities kept the peso-dollar exchange rate nearly constant, which of the following statements would be true?
answer
Mexican products would become more expensive, while products made in the US would become comparatively cheaper.
Ask
Consumers benefit from laws that prohibit the formation of monopolies or alliances that would harm a competitive market
answer
increased choice.
Ask
Which of the following groups has never lived without easy access to the internet and other digital technologies?
answer
Generation Z
Ask
Which of these is a macroenvironmental factor?
answer
cultural
Ask
When Kimberly-Clark introduced paperless toilet paper rolls, what societal trend did this product address?
answer
ecological marketing
Ask
If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it could consider all of the following ideas except
answer
Creation of an advertising campaign for primary school children.
Ask
Let's say you're the vice president of marketing at Target, the major retail chain. You want to keep your website and in-store services updated with technological advances. You might consider experimenting with what is likely to be the next anticipated development in mobile technology, viz
answer
wireless payments from mobile devices.
Ask
Some companies have been accused of exploiting the current societal trend of green marketing and positioning their products as eco-friendly, when this may not be the case. This is called
answer
Green washing.
Ask
Part of the societal trend toward health and wellness is concern about increasing levels of obesity in the United States. In this context, the text notes the increasing popularity of
answer
Yoga.
Ask
The political/regulatory environment includes political parties, government organizations and
answer
legislation and laws.
Ask
Christy, a marketing executive born in 1955, advocated that her company focus on a print campaign for her new line of lipsticks rather than spending money on online ads. This view can be attributed to being a member of which generational cohort?
answer
Baby-Boomer
Ask
Which generation are also referred to as Millennials?
answer
Gene Y
Ask
The poorest 10 percent of the US population earned less than _______ per week in 2014.
answer
$412
Ask
Which statement about changing ethnicity in the United States is correct?
answer
African-American US households are more affluent than previous studies have suggested.
Ask
According to the text, 14 cable companies agreed to provide inexpensive Internet access to impoverished families for all of the following reasons
answer
higher revenue from a larger number of subscribers.
Ask
The government has enacted laws that promote both fair trade and competition, prohibiting the formation of monopolies or alliances that would harm a competitive market, and promoting fair pricing practices for all suppliers and consumers. These measures are part of the ________ business environment.
answer
political/regulatory
Ask
Which of the following statements specifically forbids monopolies?
answer
Sherman Cartel Act
Ask
What is most likely to happen when inflation rises?
answer
Consumers are buying cheaper groceries.
Ask
________ is the cost to customers, or the fee charged by the bank to those customers for borrowing money.
answer
Interest
Ask
In the summer of 2002, the euro was valued at just under 1 US dollar. By 2008 it had risen to an all-time high of $1.60, but by early 2016 the euro and dollar were almost par. This value change is called
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exchange rate fluctuations.
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When Diana went to college, tuition was $650 per semester. Now the same college charges $6,500 per semester. This number reflects a sustained price increase known as
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Inflation.
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From a business perspective, the biggest advantage is RFID
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It allows the company to track an item from the moment it was manufactured.
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Which of the following statements is an example of greenwashing?
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A company donates money to a school reading project to promote it as environmentally friendly.
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Almost what percentage of adults in the US now recycle their soda bottles and newspapers?
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50 percent
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Which of the following is a social trend listed in the text?
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health and wellness
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Which ethnic group in the United States tends to be higher earners, higher educated, and more likely to be employed or own a business?
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asian american
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Which ethnic group tends not only to be more affluent and suburban than previously thought, but also younger, with 47 percent aged between 18 and 49?
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African American
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A generational cohort is a group of people
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who belong to the same generation.
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