101)Mission statements should be realistic and general in nature.
102) ABC Fortunes has just developed a formal statement of its purpose. This firm has put together a mission statement.
103)Mission statements should both emphasize the company’s strengths in the marketplace and be motivating.
104)A firm’s mission statement should be the basis for both its business and marketing objectives.
105)The major activity in strategic planning is strategic business unit planning, whereby management evaluates the products and businesses making up the company.
106)When designing business portfolios, most companies are well advised to add a broad range of products and businesses to their organization.
107)The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.
108)In the BCG matrix, “dogs” are low-growth businesses and products that do not generate enough cash to maintain themselves.
109)The growth strategy of diversification involves offering modified or new products to current markets.
110)When an organization identifies and develops new markets for its current products and services, it is engaged in market development.
111)When a firm finds products or businesses that no longer fit its overall strategy, it should carefully milk, harvest, or better develop them.
112)In today’s marketplace, competition increasingly takes place between entire value delivery networks rather than between individual competitors.
113)The image of a product in the minds of consumers is called market segmentation. Answer: FALSE
114)A market segment consists of consumers who respond in different ways to a given set of marketing efforts.
115)When a company positions its product, it should first identify possible customer value differences within a market segment that could be the basis of a competitive advantage for the product.
116)The marketing mix consists of product, price, place, positioning, and promotion. Answer: FALSE
117)Guided by marketing strategy, the company designs a marketing mix made up of factors under its control: product, price, place, and promotion.
118)One valid criticism of the four Ps concept is that services are not considered.
119)The four Cs concept takes the buyer’s view of the market. Answer: TRUE
120)Four marketing management functions are analysis, planning, implementation, and control. 121)”At Joe’s Diner, we serve great burgers” is a product-oriented business definition.
122)At Trader Joe’s, “our mission is to bring all our customers the best food and beverage values to be found anywhere, and the information to make informed buying decisions.” This is a product-orientedbusiness definition.
123)To improve its value delivery network, a company needs to examine the value chains of its suppliers and distributors.
124)Mandros International Foods evaluates each market segment’s attractiveness and selects one or more segments to enter when considering adding new lines of imported foods. Mandros is engaged in positioned marketing.
125)Holiday Inn has divided the total customer market into smaller segments and selected the most promising segments. Deciding what position it wants to occupy in these segments is called targeting.
126) Define strategic planning. Discuss the steps involved.
127)What is business portfolio planning? Discuss how a company might use the Boston Consulting Group’s product portfolio analysis method.
128)Describe some of the problems with matrix approaches.
129)The BCG is a useful approach to evaluate current businesses. Describe a method that a firm could use to identify future growth opportunities.
130)What does the term value delivery network mean? Explain.
131) Define marketing strategy. Discuss the steps in formulating marketing strategy.
132)Explain why, according to the authors of your text, the four Ps concept of the marketing mix takes a seller’s view of the market, not the buyer’s view. How should marketers consider the buyer’s view?
133)Define marketing planning. Briefly outline the major components in a marketing plan. 134)Marketing departments are organized in several ways. Compare the most common forms of marketing organizations.
135)Briefly discuss how marketers measure return on marketing investment, explaining why this figure can be difficult to assess.
136)Why should a mission statement be market oriented instead of product or technology oriented?
137)Why should a mission statement be “motivating” instead of stated in terms of sales or profits?
138)What is a strategic business unit (SBU) and how is it involved in a business portfolio analysis?
139)Into what BCG quadrant does a high-share, high-growth SBU fall?
140) What type of strategy should a company use to manage its cash cows?
141) How might the BCG matrix represent a life cycle?
142)How might Party Planning Paradise, a company that sells a wide range of party supplies for all occasions, implement a market development strategy?
143)According to the product/market expansion grid, what strategy would a fast-foodhamburger restaurant follow if it offered a salad bar option during lunch hours?
144)Into what quadrant of the product/market expansion grid would a “new and improved” product fall?
145)How are partner relationship management and the value chain related?
146) Explain how a marketer of baking soda may attempt to attract more than one market segment.
147)How might a marketer of pens alter the “product” portion of the marketing mix when targeting female college students versus male college students?
148)What role does the marketing mix play in positioning?
149) Why is marketing analysis such an important part of marketing management?
150) Why are many marketers today using customer-centered measures of marketing ROI?
Principles of Marketing, 14e (Kotler)
Chapter 3 Analyzing the Marketing Environment
1) You are directed to study the actors close to the company that affect its ability to serve itscustomers-departments within the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. What are you studying?
C)the marketing environment
D)the demographic environment
E) the global environment
2)Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers?
A) the marketing environment B) the cultural environment C) strategic planning
D) target markets
E) the marketing mix 3)You are directed to study the demographic, economic, natural, technological, political, and cultural factors that are larger societal forces affecting your company. What are you studying? A) the macroenvironment
B) the microenvironment C) the internal environment D) the marketing mix
E) the global environment:
4)Which of the following is NOT a type of factor in a company’s macroenvironment? A) demographic
B) economic C) technological D) competitive E) political Answer: D
5)All of the groups within a company are called the ________.
6)Which type of organization helps companies to stock and move goods from their points of origin to their destination?
A) financial intermediaries B) physical distribution firms
C) marketing services agencies D) resellers
7)Banks, credit companies, insurance companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________.
A) financial intermediaries B) physical distribution firms
C) marketing services agencies D) resellers
8)Currently, Diego Calabresa is employed by a firm that conducts marketing research and creates ads for other companies that target and promote their products to the right markets. Who is Diego’s employer?
A) a financial intermediary B) a physical distribution firm C) a marketing service agency D) a reseller
E) a green marketer 9)A(n) ________ is defined as any group that has an actual or potential interest in, or impact on, an organization’s ability to achieve its objectives.
B) competitor C) market D) public
10)Which of the following is NOT an example of the type of public that is part of a company’s marketing environment?
A) financial B) media
C) government D) citizen-action
E) marketing department
11)A radio station that carries news, features, and editorial opinions about your area is which type of public?
A) financial B) media
C) citizen-actionD) general
12)A consumer organization, environmental group, or minority group has challenged your firm’s stand on a local issue. Your firm is being challenged by a ________ public.
A) local B) general
C) government D) citizen-actionE) media
13)Workers, managers, and members of the board are all part of a company’s ________ public. A) general
B) internal C) local
D) intermediary E) market:
14)Percy Original caters to a market of individuals and households that buys goods and services for personal consumption. Percy Original caters to a ________ market.
A) business B) reseller
C) government D) consumer
E) marketing intermediary 15)Which type of market buys goods and services for further processing or for use in the production process?
A) business B) reseller C) wholesale D) consumer E) retail
16)Which type of market buys goods and services to produce public services or to transfer them to others who need them?
A) government B) reseller
C) wholesale D) consumer E) retail
17)Rachel Patino works for a wholesale company called Distributors Unlimited. She is responsible for buying and selling goods at a profit to small retailers. What is her market? A) business
B) reseller C) wholesale D) consumer E) retail
18)Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched?
A) demographic B) psychographic C) economic
D) geographic E) cultural
19)The three largest generational groups in America are the baby boomers, Generation X, and
________. A) seniors
B) Millennials C) teens
D) tweens E) toddlers
20)Research has shown that the most important demographic trend in the United States is the
A) changing age structure of the population B) mobility of families
C) slowing birth rate
D) increasing number of professional jobs E) aging population
21)As a generational group, ________ are the most affluent Americans.
22)The youngest of the baby boomers are now in their ________. A) late 20s
B) mid-20sC) mid-40sD) early 50s E) early 60s
23)Which of the following descriptions most accurately characterizes the baby boomers? A) They are increasingly likely to retire early.
B) They are a shrinking market for new housing and home remodeling. C) They are past their peak earning and spending years.
D) They hold 75% of the country’s assets.
E) They are uninterested in adapting new technologies.
24)Which of the following descriptions most accurately characterizes Gen Xers?
A)There are more Gen Xers than Millennials.
B)They were the first generation of latchkey kids.
C)They are less educated than the boomers.
D)They are more interested in acquiring goods than having experiences.
E)They rarely research a product before purchasing it.
25) Which demographic group is also referred to as the echo boomers?
26)Large tween and teen markets belong to which demographic group? A) Generation X
B) Millennials C) baby busters D) baby boomers E) Generation Z
27)Which of the following descriptions most accurately characterizes Millennials? A) They are children of baby boomers.
B) They are less ethnically diverse than Gen Xers.
C) They have reached their peak earning and spending years. D) They were once labeled “the MTV generation.”
E) They are less immersed in technology than Gen Xers are.
28)Which demographic group is characterized by a total fluency and comfort with computer, digital, and Internet technology?
A) Generation X B) Millennials C) the elderly D) Generation Z E) baby boomers
29)Which of the following demographic groups has NOT seen a percentage increase in the past 50 years?
A) women staying at home with their children B) men staying at home with their children C) nontraditional households
D) nonfamily households
E) women working outside of the home
30)In 1950, women made up under 40 percent of the workforce; now they make up ________
percent. A) 35 B) 40 C) 43 D) 46 E) 59
31)Which of the following is a trend that depicts the increasingly nontraditional nature of today’s American family?
A) working women making up a smaller percentage of the workforce B) the falling percentage of married couples with children
C) dual-income families declining in number D)stay-at-home dads declining in number
E) the declining reliance on convenience foods and services
32)Over the past two decades, the U.S. population has shifted most heavily toward the
________ states. A) Midwestern B) Northern
D) Southeastern E) Northeastern
33)Which of the following geographical areas has NOT seen a recent population increase? A) micropolitan areas
B) suburbs C) the West
D) the Northeast E) the South
34)In the 1950s, the American population began shifting from large cities to ________. A) farming communities
B) rural areas
C) foreign countries D) suburbs
E) coastal towns
35)An increasing number of American workers currently work out of their homes with technological conveniences such as PCs, Internet access, and fax machines. These workers are referred to as the ________ market.
A) micropolitan B) SOHO
D) independent E) contract
36)Which of the following groups of workers is projected to become smaller over the next ten years?
A) white collar workers B) manufacturing workers C) managers
E) professional workers
37)Which of the following most accurately reflects the popularity of telecommuting?
A)Almost all American businesses are expected to offer telecommuting options within the next decade.
B)More than half of American businesses currently offer telecommuting programs for their employees.
C)About 40% of American businesses currently offer telecommuting programs for their employees.
D)About 25% of American businesses currently offer telecommuting programs for their employees.
E)The percentage of American businesses offering telecommuting programs is expected to decline within the next decade.
38)Because of increasing ________, Americans will demand higher quality products, books, magazines, travel, personal computers, and Internet services.
A) numbers of nontraditional families B) family size
C) levels of education D) social class awareness E) ethnic diversity
39)Which of the following is an accurate statement about the diversity of the American population?
A) African Americans represent the largest non-white segment of the population.
B) More than 12 percent of people living in the United States were born in another country.
C) The Asian American percentage of the population is expected to remain steady in the next 50 years.
D) In terms of ethnic diversity, the United States is about average in comparison to other countries with populations of a comparable size.
E) American ethnic populations are expected to slowly increase in the next few decades. \
40)Of the following, which ethnic minority is expected to be nearly 25% of the U.S. population by 2050?
A) African Americans B) Asian Americans C) Hispanics
D) Native Americans E) Arab Americans \
41)With an expected increase in ethnic populations, marketers are likely to place a greater emphasis on ________.
A) geographic segmentation
B) targeted advertising messages C) mass marketing
D) mainstream advertising E) cause-related marketing \
42)Of the following diversity segments in the American population, which is currently the largest?
A) adults with disabilities B) Hispanics
C) African Americans D) telecommuters
E) Asian Americans \
43)The ________ environment consists of factors that affect consumer purchasing power and spending patterns.
A) cultural B) political
C) technological D) economic E) natural \
44)A country with a(n) ________ economy consumes most of its own agricultural and industrial outputs and offers few market opportunities.
A) industrial B) service
C) technological D) subsistence E) developing \
45)A country with a(n) ________ economy has rich markets for many different kinds of goods. A) industrial
C) developing D) subsistence E) multicultural \
46)As a response to the Great Recession, most consumers have ________.
A)amassed record levels of debt
B)adopted back-to-basics spending patterns
C)increased their investments in the stock market
D)seen their home values increase
E)abandoned value marketing
47) Value marketing is the strategy of offering consumers ________.
A)high quality at a high price
B)luxury quality at a high price
C)lesser quality at a low price
D)reasonable quality at a fair price
E)little quality at a low price \
48)Which of the following statements about income distribution in the United States is NOT true?
A) In recent decades, the rich have gotten richer. B) In recent decades, the middle class has grown. C) In recent decades, the poor have remained poor.
D) The top 20 percent of American earners account for almost half of all American income. E) The top five percent of American earners receive a higher percentage of the nation’s total income than do the bottom 40 percent of American earners.
49)The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.
A) raw material market B) natural environment
C) endangered environment D) green movement
E) factors of production
50)Which of the following American government agencies is charged with setting and enforcing pollution standards?
A) the Environmental Protection Agency (EPA) B) the Federal Trade Commission (FTC)
C) the Food and Drug Administration (FDA) D) the Consumer Product Safety Commission E) the Federal Energy Regulatory Commission
51)Which of the following has encouraged marketers to go beyond what is required by law and pursue environmentally sustainable strategies?
A) the EPA
B) the black market C) the green movement D) deregulation
E) green intervention
52)Many firms today use RFID technology to ________.
A)identify new target markets
B)analyze threats and opportunities in the macroenvironment
C)move toward environmental sustainability
D)track products through various points in the distribution channel
E)track patterns of consumer online behavior
53) Which country leads the world in research and development spending?
E)the United States
54)Which of the following is a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?
A) The time between new product ideas and their introduction to the market has decreased. B) Spending on research and development has decreased.
C) Research costs for companies have grown.
D) More companies have failed to meet safety standards.
E) Companies are more focused on making practical, affordable versions of products.
55)Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is most accurately described as the ________ environment.
A) socio-legalB) cultural C) political
D) legal-technologicalE) economic
56)Even the most liberal advocates of free-market economies agree that the system works best with ________ regulation.
A) private B) maximum
C) intermittent D) at least some E) no
57)Legislation affecting business around the world will continue to ________. A) become standardized
C) remain steady D) decrease
E) threaten the American domestic economy
58)The legislation created to limit the number of commercials aired during children’s programming is called the ________
A) Children’s Online Privacy Protection Act B) Child Protection Act
C) Fair Packaging and Labeling Act D) Children’s Television Act
E) Consumer Product Safety Act
59)Business legislation has been created for three basic reasons: to protect companies from each other, to protect consumers, and to ________.
A) protect the interests of society B) regulate prices
C) increase world trade D) regulate monopolies
E) promote social responsibility
60)The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of ________ and ________.
A) ethics; promotion responsibility B) ethics; social responsibility
C) finances; employee discrimination D) management ethics; insider trading E) promotion; pricing
61)A company or association’s ________ is designed to help guide responses to complex social responsibility issues.
A) code of ethics
B) cause-related marketing
E) core value system
62)The primary concern for consumers with the boom in Internet marketing is ________.
63)Cause-related marketing is a(n) ________. A) response to customer needs
B) primary form of environmental awareness C) primary form of corporate giving
D) lobbying response to corporate legislative problems E) attempt to influence consumers’ core beliefs 64)A society’s basic values, perceptions, preferences, and behaviors are all part of its ________
environment. A) social
B) cultural C) political
D) cultural-economicE) natural
65)Marketers should understand that a society’s core beliefs and values have a high degree of
________. A) persistence B) flexibility C) similarity
D) ethnocentrism E) conformity
66)Your company is making negotiations to enter a market in Lower Albania. You would most likely discover that ________ beliefs and values are open to change in this country.
A) inherited B) secondary C) primary D) core
67)A society’s ________ are expressed in how people view themselves, organizations, society, nature, and the universe.
A) social codes B) cultural values C) demographics D) public policies E) economies
68)Watching the cultural trends of how people view others, observers have noted an increased interest in ________.
A) socializing with co-workers
B) going out less and staying home more C) patriotism
D) do-it-yourself projects E) adventurous experiences
69)Trends in people’s views of organizations indicate that which of the following has increased in the past twenty years?
A) employees’ loyalty to their employers
B) confidence in American political organizations C) distrust in big American businesses
D) confidence in the American education system
E) employees’ view of work as a source of satisfaction
70)Watching the cultural trends of how people view society, observers have noted that since September 11, 2001, marketers responded to the increased ________ of Americans with special products and promotions.
A) loyalty B) patriotism C) distrust
D) foreign intolerance E) belligerence
71)Which of the following is a potential downside to using patriotic themes in marketing programs?
A) Patriotism has been on the decline in the past decade. B) Levels of patriotism fluctuate rapidly.
C) Such promotions can be viewed as attempts to gain from others’ triumph or tragedy. D) Americans are less confident in political organizations.
E) Few marketers currently use this technique.
72)The LOHAS market is most closely associated with which of the following cultural trends? A) environmental sustainability
B) increased patriotism
C) distrust of political systems D) organized religion
73)Cultural forecasters have noted a renewed American interest in ________. A) dominating and taming nature
B) the fine arts
C) work as a source of satisfaction and self-definition D) spirituality
E) reforming social classes
74)Marketers can take a(n) ________ by taking aggressive action to affect the publics and forces in their marketing environments.
A) environmental stance B) proactive stance
C) natural perspective
D) natural-management perspective E) relationship-building perspective
75)Which of the following explains why few companies have been successful in shutting down critics who post complaints on the Web?
A) The criticism is usually interpreted as protected speech.
B) The courts have typically refused to hear any cases against individual critics.
C) Web sites using “I hate” or “sucks” in the title along with a company’s name can be easily confused with the company’s actual Web site.
D) Registering domain names to prevent critical Web sites is a lengthy process.
E) Companies have found that it is more effective to respond in kind with attacks against critics.
76)LandPort Transportation and Omega Warehousing move and store the products your company sells. The two businesses are examples of ________.
B) marketing services agencies C) marketing intermediaries D) physical distribution firms E) geographic segments
77)Innovations is a producer of electronic circuits that power a variety of technological devices produced by other companies. Innovations sells its products to ________ markets.
A) business B) government C) consumer D) internal
78)ING, an international insurance and financial services company, is the primary sponsor of the annual New York City Marathon, which is attended by over one million fans and watched by approximately 300 million viewers worldwide. The ING logo and name appear throughout the race course. ING most likely sponsors the event in order to appeal to which type of public?
B) citizen-actionC) government D) general
79)Noora DeLange is helping her company develop a marketing program for a new product line. The program involves emphasizing experience over acquisition and uses a marketing pitch that is less overt than the company’s previous programs. The marketing program is most likely designed to appeal to which of the following demographic groups?
A) Gen Xers
B) nontraditional households C) “micropolitan” populations D) baby boomers
E) manufacturing workers Answer: 80)Wholesome Soups, a maker of organic soups, is starting a new marketing campaign emphasizing the ease of preparing and eating Wholesome Soups on the go. Print, television, and Internet ads feature college-aged students enjoying Wholesome Soups in between classes and during study breaks. Wholesome Soups’ new marketing campaign is most likely aimed at which of the following?
A) baby boomers B) seniors
C) Gen Xers D) Millennials
E) the SOHO market
81)Which of the following demographic trends is likely the most responsible for the increasing number of people who telecommute?
A) the migration toward micropolitan and suburban areas B) the move from rural to metropolitan areas
C) the increasing number of nontraditional households
D) the growing percentage of married couples who do not have children E) the declining number of manufacturing workers
82)Chet Hoffman’s chain of travel agencies has identified the lesbian, gay, bisexual, and transgender community as a growing market that spends an increasing percentage of its income on travel. Which of the following would be the LEAST effective component of a marketing plan for Chet to take advantage of this opportunity?
A) develop a presence on LGBT-oriented social networking sites B) position his agency as focused on specialized experiences
C) implement a mass marketing campaign
D) place specially-targeted ads in gay-themed publications E) advertise on LOGO
83)With an expected increase in ethnic diversity within the American population, marketers are most likely to place a greater emphasis on which of the following?
A) geographic segmentation
B) differing advertising messages C) mass marketing
D) “us and them” paradigms E) tiered markets
84)The green movement will likely spark the LEAST interest in which of the following?
B)environmentally sustainable strategies
85)Norma Bernanke is a marketer at a pharmaceutical company that has just developed a new medication to treat asthma. Which of the following components of the political environment should Norma be LEAST concerned with as her company begins to develop a marketing plan for the new product?
A) approval from the Food and Drug Administration (FDA) B) state laws regulating advertising of pharmaceuticals
C) laws enforced by the Federal Trade Commission D) the Fair Packaging and Labeling Act
E) the Nutrition Labeling and Education Act
86)A regional supermarket chain runs print, radio, and television advertisements announcing that 1% of each of its sales is donated to local after-school programs for underprivileged youth. This is an example of ________ marketing.
A) cause-relatedB) generational C) sustainable D) tiered
87)Which of the following is an example of a core belief?
A)Marriage is important.
B)Americans should display their patriotism.
C)The comforts of home are more important than entertainment outside of the home.
D)Extended warranties are never worth the money consumers pay for them.
E)Professionals should wear business clothes to work.
88)Consumers undertaking which of the following would be most likely to be identified as “cocooning” or “nesting”?
A) taking a cruise
B) taking up a new sport
C) having a home entertainment center installed D) hiking the Grand Canyon
E) traveling to Asia
89)Toyota’s Prius was the first mass-produced hybrid vehicle, known for its fuel efficiency and environmental friendliness. The Prius was initially most likely marketed to which of the following groups?
A) the SOHO market B) the LOHAS market C) the LGBT market
D) the Asian American market E) the Millennials market
90)Assume that you are a manager at a firm that has hired lobbyists to influence legislation affecting your firm’s industry to its advantage. Your firm takes a(n) ________ approach to the marketing environment.
A) reactive B) proactive C) adversarial D) passive E) team work Answer: B
91)Which of the following forces would marketers be MOST likely able to influence? A) geographic population shifts
B) core cultural values C) income distribution
D) increasing ethnic diversity E) media publics
92)If baby boomers are predictors of where product and service demand will be, increased demands will most likely be evident in ________ in the upcoming years.
A) university enrollment B) beer and wine
C) financial services D) the apparel industry
E) the automobile industry
93)Which of the following best explains why Gen Xers who are parents tend to put family before career?
A) Gen Xers were the first generation of latchkey kids.
B) Gen Xers were minimally affected by the recent economic downturn.
C) Gen Xers are more skeptical about marketing than members of other generations are. D) Gen Xers are not as educated as members of other generations are.
E) Gen Xers do not face as many economic pressures as members of other generations do.
94)In considering the changing American family, which of the following are marketers likely to consider the LEAST important?
A) The number of traditional households has increased. B) Baby boomers are hitting retirement age.
C) The number of married couples with both partners working outside of the home has increased. D) Married couples with children make up less than 25% of the nation’s households.
E) The number of stay-at-home fathers has increased in the past 20 years.
95)Which of the following is the most reasonable to assume as more and more Americans move to “micropolitan areas”?
A) Geographic segmentation may be less critical to marketers. B) Rural populations will offer an expanding market.
C) Micropolitan areas are likely to offer the same advantages as metropolitan areas. D) Congested areas are likely to become more ensnarled.
E) Crime rates in metropolitan areas will increase.
96)As a marketer of pesticides, which of the following should give you the LEAST amount of concern?
A) shortages of raw materials B) increased pollution
C) increased government intervention D) persistence of cultural values
E) chemical pollutants in the food supply
Refer to the scenario below to answer the following questions.
Casey Brickly opened The Landing 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 lake needs rods and reels, bait, fishing licenses, snacks, soft drinks at The
Landing. Even during the winter months, snowmobilers and ice fishermen were lured to The Landing for a snack 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 year-round residential area. Many of the houses, which were built as cottages in the 1950s and 1960s, were remodeled into year-round homes. By the end of the 1970s, the days of small motor boats and 10 mile-per-hour speed limits were gone; skiing and fast speed boats became all 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 atmosphere 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.”
97) Which microenvironment actors have affected The Landing the most?
98)Which of the following macroenvironmental forces has had the greatest effect on The Landing?
A) the demographic environment B) the technological environment C) the sustainable environment D) the political environment
E) the social responsibility environment
99)Which macroenvironmental force has benefitted The Landing the most?
A)the legal environment
B)the natural environment
C)the economic environment
D)the political environment
E)the technological environment
100)Which of the following demographic forces has most likely influenced the recent upscale atmosphere of the area surrounding Witmer Lake?
A) baby boomers reaching their peak earning and spending years B) Gen Xers displacing the lifestyles of baby boomers
C) Millennials beginning to assert their buying power D) the changing structure of the American family
E) the growing ethnic diversity of the country