3) You are directed to study the factors that are larger societal forces that affect your company– demographic, economic, natural, technological, political, and cultural. What are you studying?
C)the marketing 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?
5) All of the groups within a company are called the ________.
6) Which type oforganization helps companies to stock and move goods from their points of origin to their destination?
C)marketing service firm
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 ________.
C)marketing service agencies
8) A company’s marketing environment includes various ________ that are made up of groups that have an actual or potential interest in, or impact on, an organization’s ability to achieve its objectives.
9) Which of the following is NOT an example of a public that is part of a company’s marketing environment?
10) A radio station that carries news, features, and editorialopinions about your area is best classified as which type of public?
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11) Consumer organizations and environmental groups are examples of________ publics.
12) Workers, managers, and members ofthe board ofdirectors are all part ofa company’s
13) Percy Originalcaters to a market of individuals and households that buy goods and services for personal consumption. What type of market does Percy Original cater to?
14) Which type of market buys goods and services to produce public services or to transfer them to others who need them?
15) Members of which type of market buy goods and services for further processing or for use in the production process?
16) 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?
17) Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched?
18) The three largest age groups in America are the baby boomers, Generation Xers, and
19) The most important demographic trend in the United States is the ________.
A)changing age structure of the population
B)mobility of the population
C)slowing birth rate
D)increasing growth in professional jobs
E)changing structure of the family
20) The youngest of the baby boomers are now in their ________.
21) Which of the following is the most commercially influential American demographic age group today?
22) Which of the following descriptions most accurately characterizes the baby boomers?
A)They are aging and slowing down.
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% ofthe country’s financial assets.
E)They were largely unaffected by the recent recession.
23) Which demographic group was once labeled “the MTV generation” but has become the most educated generation to date?
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 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.
25) Which demographic group is also referred to as the echo boomers?
26) Which demographic group includes large tween and teen markets?
27) Which of the following descriptions most accurately characterizes Millennials?
A)They are children ofbaby boomers.
B)They are not as technologically savvy as Gen Xers are.
C)They have reached their peak earning and spending years.
D)They were once labeled “the MTV generation.”
E)They have graduated from college and are taking over positions ofpower in the business world.
28) Which demographic group is characterized by a total fluency and comfort with computer, digital, and Internet technology?
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
E)women working outside of the home
30) The number of________ households is now growing faster than the number of________
31) In 1950, women made up less than 40 percent of the workforce; now they make up
32) Americans are very mobile. Over the past two decades, the U.S. population has shifted most heavily toward the ________ states.
33) Which of the following geographical areas has NOT experienced a recent population increase?
34) In the 1950’s the American population began shifting from large cities to ________.
35) As more and more Americans are moving to “micropolitan areas,” marketers can most reasonably assume that ________.
A)geographic segmentation may be less critical
B)ruralpopulations will offer an expanding market
C)micropolitan areas may offer the same advantages as metropolitan areas
D)congested areas may become more ensnarled
E)crime rates in metropolitan areas will increase
36) An increasing number ofAmerican workers work out of their homes with technological conveniences such as PCs, high-speed Internet access, and fax machines. These workers are referred to as the ________ market.
37) Which of the following most accurately reflects the popularity oftelecommuting?
A)Almost all American businesses are expected to offer telecommuting options within the next decade.
B)The majority of American businesses currently offer telecommuting programs for their
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) Over the past 50 years, which ofthe following groups of workers has become smaller?
39) Because of increasing ________, Americans will demand higher quality products, books, magazines, travel, personalcomputers, and Internet services.
A)numbers of nontraditional families
C)levels of education
40) 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 ofthe population is expected to remain steady in the next 50 years.
D)In terms ofethnic diversity, the United States is about average in comparison to other
countries with populations ofa comparable size.
E) American ethnic populations are expected to slowly increase in the next few decades.
41) Of the following, which is the fastest-growing group in the United States?
42) Because ofan expected increase in ethnic populations, marketers are likely to place a greater emphasis on ________.
B)targeted advertising messages
43) Members of which of the following groups are more likely than the generalpopulation to have professional jobs, own a vacation home, own a notebook computer, and own individual stocks?
B)gays and lesbians
44) Of the following diversity segments in the American population, which is currently the largest?
A)adults with disabilities
45) The ________ environment consists of factors that affect consumer purchasing power and spending patterns.
46) A country with a(n) ________ economy consumes most of is own agriculturaland industrial outputs and offers few market opportunities.
47) A country with a(n) ________ economy has rich markets for many different kinds of goods.
48) 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
49) 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 10 percent of American earners account for almost half ofall American income.
E)The top one percent of American earners receive a higher percentage of the nation’s total income than do the bottom 50 percent of American earners.
50) In a tiered market, companies target which ofthe following?
A)affluent consumers only
B)consumers of modest means only
C)the middle class only
D)consumers at all levels of income distribution
51) Which of the following combinations of expenses use up most household income?
A)food, housing, retirement planning
B)housing, insurance, taxes
C)food, housing, transportation
D)housing, taxes, transportation
E)food, travel, savings
52) 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.
53) 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
54) 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
55) What movement has encouraged marketers to pursue environmentally sustainable strategies?
B)the black market
C)the green movement
D)the SOHO movement
56) Which country leads the world in research and development spending?
E)the United States
57) Which of the following is a result ofregulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?
A)The time lag 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 ofproducts.
58) 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 the ________
59) Even the most liberal advocates of free-market economies agree that the system works best with ________ regulation.
D)at least some
60) Legislation affecting business around the world will continue to ________.
E)relax consumer protections
61) 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
D)Children’s Television Act
E)Consumer Product Safety Act
62) Business legislation has been created for three basic reasons: to protect companies fromeach other, to protect consumers, and to ________.
A)protect the interests of society
C)increase world trade
E)promote environmental sustainability
63) The recent rash ofbusiness scandals and increased concerns about the environment have created fresh interest in the issues of________ and ________.
A)ethics; promotion responsibility
C)finances; employee discrimination
D)management ethics; culturalbias
64) A company or association’s ________ is designed to help guide responses to complex social responsibility issues.
A)code of ethics
C)discretion in enforcing regulations
E)core value system
65) The primary concern for consumers with the boom in Internet marketing is ________.
66) Cause-related marketing is ________.
A)a response to customer needs
B)a primary form ofenvironmental awareness
C)a primary form ofcorporate giving
D)a response to corporate politicalproblems
E)an attempt to influence customers’ core beliefs
67) A society’s basic values, perceptions, preferences, and behaviors are all part of its ________
68) A society’s core beliefs and values have a high degree of________.
69) A society’s ________ are expressed in how people view themselves, organizations, society, nature, and the universe.