MKT chapter 5

How can culture be transmitted

Literature Words Institutions

When were millennials born

1977-2000

What is the average yearly income for young adults with a bachelors degree in the United states

50,000

How might demographics affect the launching of a new product

A product may be for a specific gender A product may be targeted towards a specific age group or generational cohort

Roughly 80% of population growth over the next two decades in the United States is projected to come from a combination of which of the following groups

African American Hispanics Asians

What are possible reasons for the increase in wealthy families

Aging of the general population Increase in dual- income households

Consumers is a generational ________ are a group of people in the same generation who tend to have similar buying behaviors

Cohort

The most important immediate environmental factors that impact consumers are the

Company Competitions Corporate partners

A successful firm focuses on matching its core ______ to what consumers need and want

Competencies

Which of these is NOT a macro environmental factor that directly influences a firm

Competition

What are some characteristics of generation x

Considered latchkey children Represent 41 million Americans Born between 1965 and 1976

At the center of all analysis of the marketing environment is the _____ and his specific behavior and attitudes.

Consumer

In all marketing efforts the _____ is at the center

Consumer

When launching a new clothing line a company must focus primarily on the needs and wants of

Consumers

A smartphone manufacturer may collaborate with a company that makes lithium ion batteries to ensure that their phones have the longest possible battery life. The battery maker is considered the smartphone company's _______ partner

Corporate

What are the immediate environmental factors that impact consumers

Corporate partners Competitors Company's

What services do many firms already use robots to provide

Counting cash Filling orders

Which of the following are among the major macro environmental factors

Cultural factors Social factors Political legal factors

What is defined as the shared meanings, beliefs, morals, values, and customs of a group of people

Culture

What tasks are firms increasingly using artificial intelligence (AI) to completet

Decision making Speech recognition Translations

An example of inflation would be increasing prices cause the purchasing power of the dollar to

Decline

Date that indicates the characteristics of human populations and segments is known as

Demographics

A food _______ refers to an area or neighborhood where there is limited or no access to healthy, affordable fresh food options

Desert or dessert

Which demographics factors can help predict consumer buying patterns

Education attained Income earned

A company must be able to evaluate an attractive opportunity in relation to its ______ competencies

Existing

T/ F customers generally prefer talking to a salesperson when they need information over searching on the internet

False

What are some components of a country's culture

Food preferences Languages difference

What are digital natives also called

Gen Z

Why are marketers embracing gender neutrality

Gender roles are no longer as distinct as they once were Customers cannot be pigeonholed according to gender

Which is the largest generational cohort since the baby boomers

Generation Y

What members of generation have never known a time without the internet and electronic gadgets

Generation z

Consumer desires for environmentally friendly products and services has led to _______ marketing

Green

What occurs when a company markets products as environmentally friendly to boost sales and not actually improve the environment

Green washing

What refers to a situation in which a company uses more resources advertising green products than it actually spends in environmentally sound practices

Green washing

Increasing sales of yoga equipment have resulted in part from which social trend

Health and wellness concerns

The appearance of mobile apps that track consumers exercise, calorie intake, and sleep cycles are the result of

Health and wellness concerns

Which income group's purchasing power is growing relative to other income groups?

Highest income group

Which of the following are demographics characteristics

Income Generation Race

At its most basic level, ______ refers to what it costs an individual to borrow money.

Interest rate

From a marketing perspective, focusing on mobile devices accomplishes what

It makes it more likely that a consumer will spend more at a retailer

What are some components of a country's culture

Language differences Food preferences

Which goods and services are most likely to suffer a downturn when interest rates rise?

Luxury cars

Which word best describes the social, political, economic, and technological factors with which marketers interact

Macroenvironment

Which cohort represents the widest age range, ranging from teenagers to young adults with children

Millennials

Which generation consists mostly of the children of baby boomers

Millennials

By the year 2055 which group is expected to remain an ethnic minority in the United States

No single group

The international fair trade certification mark is granted to products that do which of the following

Promote sustainable farming Improve environmental standards for producers

What are goals of value-based marketing?

Provide value to consumers Recognize consumers needs and wants

What are current trends in food marketing and distribution

Reducing food waste Opening grocery stores in food deserts

Which items could be included in the internet of things

Refrigerator Coffee machines Washers and dryers

A national fast-food chain that offers one type of food in one part of the country and an entirely different menu item in another according to local demand in an example of catering to ___________culture

Regional

What culture is exemplified by the way people within a particular geographic area have different food preferences from people in other areas of the country

Regional culture

What are increasing performing work, like filling orders that humans used to do

Robots

To determine if an opportunity is attractive or unattractive for a firm, marketers can use an analysis of the external and internal environments such as

SWOT

Which of the following are among the major macroenviromental factors

Social Cultural Political

What must marketers understand about their competition

Strengths Weaknesses Their likely response to marketing ethics

Customers who hesitate to purchase goods because they worry about the potentially low wages paid to workers in the fast-fashion industry are expressing ___________ concerns

Sustainable

Macroeniromental factors include all of the following elements except

The CEO

There is an increase concern that _______ will be depleted through actions like deforestation

The physical environment

A company may choose to launch the same advertising campaign globally. This particular campaign may be launched with identical pictures & messages but in different languages. Advertisers might try to bridge the cultural gap by appealing to ______ across countries

The same target market

Which factors should marketers keep in mind about gender when promoting goods and services

The status and earning power of women have increased in recent decades

When developing marketing plans what should a firm consider about their competition

Their reaction

The Internet of________ occurs when there are numerous "smart devices" that work together to help both consumers and companies consume more efficiently

Things

T/F marketers use mobile devices and apps to improve the consumer experience by offering convenience and information

True

T/F the first factor in the immediate environment that affects the consumer is the firm itself

True

One of the goals of _____marketing is to provide a greater benefit relative to the cost to consumers than competitors offer

Value-based

Which of the following are considered aspects of the physical environment

Water Living organisms Land

If a car company collaborated with a sheet metal supplier, the car company would be the supplier's

corporate partner