Rich Brown Chapter Assignment: Chapters 4-6

Prisha works in the marketing department at Gillette. She has been conducting research on how men with facial hair use Gillette products. She's been focusing on the Hispanic market since it's a growing segment of the U.S. population. Which of the following statements is true about this segment of the market?

The use of mobile devices for making transactions such as banking, shopping, and streaming content is higher among Hispanics than other demographic segments

Capital Finance provides investment consulting services to businesses. It has contracts with several companies around the globe, including companies in Thailand, Australia, and India. The Internet has enabled Capital Finance to serve customers around the globe. It is estimated that _____ percent of global trade is facilitated by digital technology.

50

Grocery store chains such as Hyvee are making considerable investments to offer an increased selection of organic produce, fresh fish, and specialty foods desired by Asian American consumers. Hyvee's interest in marketing to Asian Americans reflects insights about this segment such as...

Asian American eating habits are healthier than white or other ethnic segments

Quentin recently purchased a Ford F-150 truck to use in his construction business. He had considered other models but decided the Ford was the best value. After owning the truck for two weeks, he received an e-mail from his sales representative at the Ford dealership thanking him for his purchase. In addition, the sales representative included a link to a review of the Ford F-150 in Car and Driver where it was chosen as the top-rated truck. Quentin had been confident about his purchase decision prior to his purchase but felt even more positive about his purchase after receiving the e-mail from his sales representative and reading the magazine review. The follow-up e-mail and article helped to mitigate any ___________ Quentin have felt in the postpurchase stage of the decision process.

Cognitive Dissonance

Avery was a multi-sport athlete in high school. She now teaches aerobics and spin classes at her university's fitness center. She wears only Nike shoes and sports apparel and has adopted the Nike slogan, "Just Do It" as her personal statement and the way she approaches life. She believes in herself and feels stronger, fitter, and more competitive when wearing or using Nike products. Avery is also an unpaid ambassador for the brand and often posts photos of herself wearing Nike products on her social media accounts. Avery would be classified as being in the __________ loyalty group with Nike.

Commited

Ally Bank has more than $95 billion in customer deposits but has no brick-and-mortar locations. The bank provides high levels of customer service through its investments in emerging technology enabling Ally to capture a high share of customer banking needs. In contrast, Fifth Third Bank has announced that it is closing 30 percent of its bank branches due to loss of market share. These examples demonstrate the impact of __________ factors as part of the external environment.

Competitive

Hoover manufactures vacuums and wanted to expand its manufacturing capabilities. Hoover contracted with an India-based firm and invested funds to provide technology and equipment in a new manufacturing plant in Mumbai. In exchange, Hoover received vacuums that were produced in India and could be sold worldwide. This practice is called...

Countertrade

Brock is a baseball player at a Division III university. He uses Instagram to follow his favorite professional and Division I college teams. He recently noticed that one of his favorite players was promoting Under Armour. Brock was able to click the link to view the item and make a purchase. Like a lot of people in his cohort (those born between 1995 and 2010), Brock is comfortable using social media sites and his smartphone to make purchases online. Brock is a member of the __________________ cohort group.

Generation Z

Heritage Glass in rural Tennessee expects 60 to 70 percent of its sales to come from regions outside of the United States including the Philippines, Europe, and South America. Heritage Glass has a __________ vision.

Global

Restaurant Equipment Corporation imports coolers and freezers from China that are used in the restaurant and hospitality industry. The company typically orders container loads and must consider travel time since the product arrives by ship, which typically takes several weeks. The company benefits from using imported Chinese products since its profit margin is higher than it would be if it had to purchase products made in the United States. This example demonstrates the impact of __________ competition on firms supplying the restaurant and hospitality markets.

Global

Chun and her mother are shopping for back-to-school supplies. Chun enjoys visiting clothing stores such as American Eagle with bright lighting, energizing contemporary music, and up-to-date fashions. Even if Chun doesn't purchase anything at American Eagle, she enjoys the experience and has received _______ value.

Hedonic

Consuela is a busy mom of three children ranging from 3 to 8 years of age. The kids usually accompany Consuela on trips to the grocery store, and she's often amazed at how frequently they ask for items that are not on the shopping list. The youngest is usually asking for a toy, the middle child wants candy, and the oldest wants ice cream. As part of the family decision process, the children perform the role of...

Initiators

Apple recently announced that it was investing billions to build a new manufacturing facility near its headquarters in California to produce screens for computers, tablets, and smartphone devices. This investment is part of Apple's strategy to control all component parts of its products and to return production to the United States, a process called...

Inshoring

Gustavo was shopping at Hollister for jeans. He noticed a sign near the plain T-shirts that advertised "buy one, get one half off." Since he often wears plain T-shirts, Gustavo spontaneously decided to purchase a white shirt and a black shirt. The sign served as a(n) ___________ to influence consumers to make impulse or unplanned purchases.

Nudge

Farmers who grow wheat and corn in Australia can export their grains to Japan. However, Japan has limits on the quantity of grain that can be imported into the country. Japan is using ___________ to limit trade.

Quotas

Danita is 40 years old and has always wanted to learn to speak Italian. She's noticed several television advertisements for Babbel promoting its system of foreign language instruction. The ads show professional people like her learning new languages and being successful. According to Maslow's hierarchy of needs, Danita's desire to learn Italian would fulfill a __________ need.

Self-Actualization

State Farm insurance products are marketed through its 19,000 independent contractor agents who maintain local offices across the United States. At one time, those agents were responsible for servicing accounts and were the primary contacts when customers had questions about their policies or claims to report. However, State Farm, which has been in business since 1922, now offers its policyholders a range of technology-enhanced options such as a smartphone app and a web-based portal to report claims, make payments, or make changes to their policies. State Farm's transition away from face-to-face servicing of clients reflects how _____________ is a major factor of the external environment.

Technology

The University of Phoenix was an early adopter of internet-based classes while their competitors-such as state universities like the University of Illinois-continued to offer traditional classroom instruction. Recently, the University of Illinois announced plans to discontinue campus-based courses for its master of business administration degree and will provide only web-based or online courses for the degree. In addition, the university is offering a wide range of blended courses and web-based courses for other degree options and general education courses. According to McKinsey and Company's four-stage model of innovation disruption, which stage does the University of Illinois action represent?

Adapting to the New Normal

Travis Scott, an African American rap musician, has partnered with Nike's Jordan line to produce the musician's newly designed shoe. He wore them onstage during the Grammy Awards. The shoe features a backward Nike Swoosh and branding details from his record label, Cactus Jack. Nike believes that partnerships with celebrities like Travis Scott will positively influence shoe and apparel sales among African American consumers since...

African American consumers have a strong influence on the latest trends

Many customers appreciate the benefits of joining Amazon's Prime membership program that provides free shipping on many products. However, some products on Amazon's site are sold by companies outside the United States and are not eligible for Prime shipping since they are shipped directly by the exporter. Which of the following statements is true regarding Amazon and the suppliers who export their items?

Amazon's marketplace has enabled many small firms to participate in global business.

Margo is a division vice-president at a large insurance company. She dreams of purchasing a Range Rover Sport vehicle that retails for approximately $70,000. She thinks the brand offers the highest level of luxury in a sport utility vehicle. In addition, she associates the Range Rover brand with prestige, wealth, and success. Once she's able to own a Range Rover, Margo will feel like she's "made it." To Margo, the people who own and drive Range Rover vehicles serve as a(n) _______ reference group.

Aspirational

Deon Frederickson recently sold his law practice and is looking forward to traveling the country in his new motor home. He is joining many people like him who were born between 1946 and 1964 who own mobile homes and enjoy visiting national parks and other areas around the United States. Deon is part of the ___________ cohort group.

Baby Boomers

In a global economy, products and services are exchanged around the world. Ford Motor Company has production plants in Mexico and purchases component parts from various suppliers around the world which are imported to Mexico to be used in production. Once the automobiles are completed, the finished cars are exported primarily to the United States and Canada. The difference between the value of exports of a country and the value of its imports over a given period is called...

Balance of Trade

Nick Morgan is a scientist with the National Oceanic and Atmospheric Administration (NOAA). He is stationed at the South Pole Observing Station in Antarctica. Nick and his colleagues collect various measurements such as carbon dioxide and solar radiation levels to enable scientists to track changes and determine trends. Nick says, "The data we collect is also used to improve climate models so we can try to see changes in the future." Nick's research would be classified as...

Basic

Buckle is a casual clothing company typically located in indoor malls across the United States. Buckle's typical shopper is someone aged 15 to 35 who enjoys wearing the latest styles and appreciates the customer service and advice provided by store staff. Buckle hires mystery shoppers to visit similar stores such as American Eagle Outfitters, Aeropostale, and Hollister to check styles and pricing on similar items. This information is part of Buckle's efforts to understand the impact of ____________, an external environmental factor.

Competition

Frigidaire is well known for its household appliances. The company is offering more technological features in its products such as "smart" refrigerators that allow consumers to view their refrigerator contents remotely via an application on their smartphones. At a recent appliance industry trade show, representatives from Frigidaire visited the displays of other brands such as Samsung, GE, and LG to see their rivals' new products and how they were incorporating technology. This activity allows Frigidaire to stay abreast of the _____________ factor of the external environment.

Competition

Gabriel is interested in purchasing a new car and is considering some type of sport utility vehicle (SUV). He enjoys outdoor activities such as bicycling, hiking, camping, and kayaking. Gabriel wants a vehicle that can accommodate his outdoor activity equipment. After conducting some online research and visiting dealerships, he's narrowed his decision to three brands: Subaru, Nissan, and Kia. Each company offers distinct product features, but Gabriel is especially interested in Kia since it warrants its vehicles for 100,000 miles. This example demonstrates the impact of _____________ factors as part of the external environment.

Competitive

The Wegmans grocery store chain operates 90 stores across six states in the Northeast U.S. and continues to grow. Like many grocery stores, it is trying to respond to changes in the external environment and now offers Instacart, a service allowing customers to shop online and receive delivery within an hour depending on their location. Wegmans believes the added convenience and time-saving aspects of grocery delivery will lead to greater customer satisfaction, increased revenues, and profitability. Wegmans is responding to the _____________ factor of the external environment.

Consumer

The amount of information search a consumer will conduct depends on several factors. For example, Carmen is interested in purchasing a new laptop computer. Carmen is highly knowledgeable about technology since she majored in business information systems and enjoys reading about trends and new products in magazines and online forums. She has owned Dell computers and had positive experiences with the brand. Carmen plans to spend approximately $1,500, and she would like the laptop to last at least two years. Based on this information, which factor influencing information search will lead Carmen to spend more time conducting an external search?

Consumer Interest

Cabi is a women's fashion clothing brand based in Los Angeles, California. Cabi's design team in Los Angeles creates its fashion line sixteen months to two years in advance. The design team selects fabrics and other details to create the clothes. Cabi then hires manufacturers in China to produce the items according to the specifications. Once completed, the garments are shipped to California on container ships that take up to two months in transit. It's a complex process but one that enables Cabi to control costs. Which method is Cabi using to engage in global marketing?

Contract Manufacturing

Pranav works for a German company that provides components for automobiles. He is preparing for a trip to China to meet with car manufacturers and had a short session on business etiquette. One recommendation regarded the presentation of business cards. The recommendation stated that it's a much more formal process in China and that it was important to use two hands when presenting a card to another person. Pranav is learning about the importance of ________ in global business.

Culture

Davis Mortuary provides funeral and burial services for several rural communities. The trends indicate Baby Boomers may prefer cremation, although some are using pre-planning services and purchasing statuary or other memorials for their gravesites. As part of its marketing strategy, this example demonstrates how Davis Mortuary must consider _____________ factors as an important aspect of the external marketing environment.

Demographic

Following natural disasters such as hurricanes and tornadoes, the demand for building products such as drywall or gypsum panels and lumber increases. Sometimes, these events lead to higher prices for building products as demand exceeds supply. However, due to global exporting, the prices might decline. U.S. gypsum manufacturing companies complained that China-based Knauf Tianjin was ___________ products and selling panels for lower prices than they charged in China.

Dumping

Luxury goods such as designer handbags and watches are highly favored in developed countries such as France, Italy, Germany, the United States, and other countries around the globe where consumers have high discretionary income and enough purchasing power to afford these items. Thus, __________ factors are important considerations when selecting global markets for export opportunities.

Economic

Novo Nordisk, a pharmaceutical company, has been the subject of negative media reports due to the high cost of insulin and frequent price increases. Novo Nordisk typically raises prices twice annually and prescription prices have tripled over the last three years. Some patients report making decisions between purchasing groceries or buying their prescription medicines. Consumer concern over the affordability of prescription drugs reflects the ___________ factor of the external environment.

Economic

Recently, Toyota increased the prices of its new automobiles to reflect an increase in raw material costs such as steel due to tariffs imposed on imported steel from China. Toyota is concerned that the increased prices of its vehicles will negatively impact consumer demand since income growth has not grown in proportion to the rising costs of production. Toyota is seeing how the _____________ factor of the external environment impacts its business.

Economic

Hayley is a senior in high school who wants to major in healthcare administration in college. She's engaged in some information search activities and has identified three schools within a three-hour drive of her home that offer a major in health care management or administration. These three schools are known as Hayley's...

Evoked Set

Matcha green tea has become a very popular beverage in recent years. Soar Organic produces some of the finest matcha green tea and works with sales agents and distributors in the United States, Canada, and Australia to aid with international financing, shipping, and supporting Soar Organic's export needs. The sales agents who reside in the countries to which Soar Organic is exporting are called...

Export Agents

Mei-Ling is a college junior majoring in finance and economics. She is interested in applying for internships and plans to attend her next college job fair. She wants to purchase a business suit to wear to the job fair and at subsequent interviews. Mei-Ling wants to look her best and wear appropriate attire. Since making a first impression is important, Mei-Ling will likely take considerable time to visit stores and try on multiple suits before she makes her purchase decision. Mei-Ling has never purchased a suit before, and this is the first time she will buy an expensive item without her mother assisting in the decision. Which type of decision-making will Mei-Ling utilize in purchasing her suit?

Extensive Decision Making

Harry's, a men's grooming company, markets razors and hair styling products. Harry's uses a variety of promotional media including advertisements on ESPN to create awareness about its brand and to influence purchase consideration. Recently, Ravindra was watching ESPN and decided to give Harry's a try. The advertisement also helped him realize that he wasn't very satisfied with the disposable razors he had been using. In this case, the advertisement acted as a(n) _______ stimulus to trigger Ravindra's need recognition for a new shaving product.

External

Unity Point Hospitals, which is based in Iowa, recently announced plans to seek approval and merge with Sanford Health, which is based in South Dakota. If approved by the __________________, an organization empowered to prevent corporations from using unfair methods of competition in commerce, the combined entity would rank among the top 15 not-for-profit health systems by revenue. It would have 76 hospitals across 26 states and nine countries and employ more than 83,000 staff and 2,600 physicians.

Federal Trade Commision

Captiva designs and manufactures a line of swimsuits for active women pursuing surfing, sailing, and other water sports. The brand is becoming popular since it is designed by women and is perfect for active lifestyles. Captiva uses its website to fulfill orders from women around the world but has its offices in the United States. Which stage of global business best describes Captiva's operations?

First Stage

Lihua is learning about global market standardization. She was explaining to a friend the types of products that could easily be standardized for sale around the world except for language differences. Which of the following products could most likely be standardized?

Flash Drive

Over the last 30 or so years, Toyota, a Japanese firm has made a considerable investment in the United States and has several manufacturing plants where it produces vehicles for the U.S. market. Its two plants in Kentucky make the Camry, Lexus ES 350, and Avalon. A plant in Texas produces its truck line— the Tundra and Tacoma. In total, Toyota annually produces more than 1.2 million vehicles in the United States. Which method of global marketing best describes Toyota's manufacturing operations in the United States?

Foreign Direct Investment

In March 2019, the European Union fined Google 1.5 billion euros for antitrust violations in the online advertising market, continuing the EU's efforts to rein in the world's biggest technology companies. The ____________ law, passed by the European Union, regulates data collected by firms and requires firms to have a "data protection officer" and provide clear and available policies regarding their data collection practices.

General Data Protection Regulation (GDPR)

Franklin is a financial consultant who specializes in retirement planning. He most enjoys working with clients who are close to his age-those born between 1965 and 1980. He believes this is a great target market because this group typically earns a high income and tend to be more frugal—thus, they are more likely to be interested in saving for retirement. This group is known as ___________.

Generation X

Canon is a Japanese firm specializing in imaging and optical products such as cameras, photocopiers, and printers. The company recognizes that consumers around the world have similar needs regarding the functions of cameras, photocopiers, and printers. Therefore, Canon can create and manufacture models that are sold around the world with few to no modifications. This is an example of...

Global Marketing Standardization

Solumbra designs and manufacturers protective clothing which helps people reduce the risk of skin cancer from exposure to ultraviolet rays. Its hats, shirts, shorts, and pants are sold globally through its website as well as through retail accounts in specialty stores. Solumbra's product line is consistent across its global markets which provides efficiency in manufacturing. Minimal modifications are made to the information and language on the product tag. Solumbra is utilizing a(n) _____________ strategy for product decisions.

Global Marketing Standardization

WeatherTech manufactures custom floor mats and accessories for automobiles. WeatherTech is predominantly an online retailer that fulfills customer orders from its website. In most cases, customers can navigate the website and identify products that are made to fit their vehicle. However, some customers may have questions before or after purchase. Which of the following actions can WeatherTech implement to stimulate positive word-of-mouth about its business and to address customer questions?

Include a toll-free number on the website which is answered by a service representative on the first or second ring and who is knowledgeable enough to address any questions or concerns a customer might have

Tamika enjoys shopping at Target. She learned through Target's Instagram posts that a collection from Vineyard Vines would be available in stores and online for a limited time and in limited quantities. Tamika set a reminder on her phone and accessed the Target website at the time the collection was to debut. She found an item she wanted to purchase. However, when she clicked "purchase," she received a message the item was sold out. Within minutes, the entire collection was sold out. Tamika was disappointed and experienced the _______ effect.

Jilting

Miguel lives in Mexico and is studying at a university in Monterrey. He's interested in studying abroad and chooses a program in Angers, France that is approved by his university. He's interested in learning more about the city of Angers and locates a website sponsored by the local tourism board. Miguel doesn't read or speak French. Which of the following could most easily help Miguel use the tourism website?

Language Translation Software

Emma was raised in the southern part of the United States where it's common to ask guests visiting the house, "would you like a Coke?" This expression is used to inquire if the guest would like a beverage to drink, not necessarily a Coca-Cola or Coca-Cola product. In contrast, people living in the Midwest might ask if the guest would like a pop or soda pop. The use of these expressions by people living in different areas across the United States demonstrates that culture is...

Learned

Caterpillar is a manufacturer of heavy machinery that is sold around the world. A growing business for this U.S.-based company are products that feature the company's name or logo. Branded merchandise is available in over 150 countries through agreements known as _________, in which, for a fee, Caterpillar allows other firms to use its name or logo on products such as hats, boots, apparel, and scale model replicas of its equipment.

Licensing

Marianne recently moved from the Midwest to South Florida to pursue a career in real estate. She enjoys yoga and Pilates and hopes to find a studio in her new city so she can continue her fitness routine. This example demonstrates the impact of ____________ as an individual influence on consumer buying decisions.

Life Events

Yeti is based in Austin, Texas. The company produces a variety of high-quality products such as coolers, beverage containers, chairs, bags, and branded apparel. It is a publicly traded company operating in the United States, Europe, Canada, Asia, and Australia and manufactures products in the United States, China, and Thailand. A brief look at Yeti's current job openings reveals professional positions in the United Kingdom, the Philippines, and Thailand. Assuming Yeti has office locations in these countries, it would be classified as a _______________ firm.

Multinational

Brandon has always enjoyed playing video games. He started live streaming and recording videos as well as giving product reviews. Over time, Brandon has developed a following on YouTube, and he is now endorsed by several video game companies who view him as an important ______________ who can influence others to purchase goods and services.

Opinion Leader

In 2012, the _________________ was signed by Colombia, Chile, Peru, and Mexico to create a single region for the free movement of goods, services, investment, capital, and people.

Pacific Alliance

Birgit likes to eat healthy foods. She recently visited Bed Bath & Beyond to purchase a high-speed blender to make smoothies, soups, sorbet, and other whole food-based recipes. Birgit compared several brands such as the Ninja Professional ($125), Vitamix ($300), and Kitchen Aid Classic ($80). Birgit decided to purchase the Ninja Professional and was pleasantly surprised at how well it blended spinach, apples, cucumbers, soy milk, and ice when making her morning green smoothie. She made her choice because of the __________ value of the Ninja but was then thrilled when she received more value than she expected from its performance.

Perceived

Officials in San Francisco have recently issued a ban on e-cigarette sales. Once the ban goes into effect in early 2020, the new San Francisco ordinance will forbid tobacco shops in the city from selling e-cigarettes that have not been approved by the Food & Drug Administration (FDA). Companies such as Juul could be negatively impacted by this city regulation which demonstrates the importance of staying abreast of the changing _______________ factors in the external environment.

Political and Legal

Remote geographic locations such as the Bahamas must rely on imported goods since the country cannot produce everything it needs. However, the Bahamas is well known for its cigars and rum, which are exported around the world. The principle that captures this example of goods imported to the Bahamas and exported from the Bahamas is called the...

Principle of Comparative Advantage

McDonald's operates restaurants around the world. The company seeks to make modifications in its menu selections and promotions to appeal to each local market. McDonald's recognizes how individual customer differences in culture and local ingredients impact its business opportunities. Thus, McDonald's is a global company that is acting locally to ensure its success. This strategy is known as...

Product Adaptation

Four Roses produces bourbon in Kentucky. It has a growing export business due to the global popularity of the beverage. Some countries, such as China, impose tariffs on bourbon produced in the United States to strengthen their own domestic brands. This strategy is known as...

Protectionism

Wells Fargo Bank received $25 billion in federal aid due to high default rates among its customers who borrowed money to finance their homes. In many areas of the United States, the value of homes declined, and homeowners were not able to repay their loans. This led to a __________, a period of negative growth.

Recession

Robert is a college freshman. For the first time, he is making purchases on his own for many items such as toothpaste, shampoo, deodorant, and laundry detergent. On a recent visit to Walmart, Robert picked up a tube of toothpaste and a container of laundry detergent. He easily recognized the brands his family used and didn't spend any time comparing alternatives or even looking at prices. Robert utilized _______ decision making.

Routine Response Behavior

Maya and Damone are married with two young children. They own a home and recently made some improvements around the house. They installed a Ring doorbell and a motion-detecting security light by their garage. Both units are connected to the Ring application that notifies Maya and Damone any time a person is in view of either device. In addition, they can program the application to record video. The Ring doorbell and motion-detecting light fulfill Maya and Damone's need for...

Safety

Lucía is an avid coffee drinker. She often stops to purchase a morning or mid-afternoon coffee at Dunkin'. She likes the convenience of the drive-through, and her favorite store always gets her order right. However, depending on her schedule and location, she's equally as likely to stop at Starbucks or McDonald's for a coffee. Lucía would be classified as being in the ___________ loyalty group with Dunkin'.

Satisfied

Rishaan likes cars and associates German automobile manufacturers with high levels of quality. He drives a Volkswagen Jetta and highly values the company. Recently, Volkswagen was fined due to emissions violations in its diesel cars that only activated anti-pollution controls when they were tested. On the road, Volkswagen's diesel models emitted up to 40 times more toxic fumes than permitted by law. One of Rishaan's friends, Jeff, asked him about the Volkswagen diesel emissions problem, but Rishaan said he wasn't aware of any problems. Jeff was surprised at Rishaan's response because he distinctly remembers forwarding an article to Rishaan about the problem and discussing the issue with him. What could account for the difference between Jeff and Rishaan's recollection of this issue?

Selective Retention

José is shopping at Kohl's for dress pants and notices several varieties of Dockers brand pants by Levi's. Although Dockers come in a range of colors and fits, he's not interested in the brand because his father has always worn Dockers. José thinks he's hipper and more stylish and that Dockers are for individuals who do not care about style. Which aspect of individual influences on buying decisions is demonstrated by this example?

Self-Concept

Aditi and Sam are newlyweds. They will be hosting a dinner party for Sam's parents who are knowledgeable and savvy wine drinkers. Aditi doesn't know much about wine but wants to serve a bottle of wine with dinner. She visits a local liquor store specializing in wine and spends quite a bit of time looking at various wines and speaking with a knowledgeable salesperson at the store. This is an example of ___________ involvement and how it can impact a customer's purchase decision process.

Situational

Jeasen Senior Living provides assisted living communities across the United States. The company focuses on the importance of its residents' desires to maintain their independence and ability to care for themselves in a supportive environment. By recognizing individuals' desires to be independent, Jeasen Senior Living is responding to an important element of the external environment, known as ______________ factors.

Social

Khalid is a professional photographer who is considering purchasing one of the new mirrorless cameras from FujiFilm. He frequently purchases equipment online from a New York firm, BH Photo. BH Photo's website allows customers to post product reviews. Khalid notices that many of the reviews for the FujiFilm model are negative. However, those who purchased the Sony models gave very positive reviews. Based on his research and owner feedback, Khalid decides to purchase a Sony camera. This example demonstrates the importance of _________ factors as part of the external marketing environment.

Social

Outside magazine features articles and product reviews related to outdoor activities such as hiking, bicycling, running, and water sports. Those who subscribe to the print or online versions of the magazine are likely to be outdoor enthusiasts who view these activities as a core part of their lives. Companies offering products such as bicycles, camping supplies, or hiking equipment that advertise in Outside magazine are attempting to respond to ___________ factors in their marketing strategies.

Social

Global marketing must take into consideration the value of its country's currency in relation to the countries' currency where its products will be sold. Over the last several years, the U.S. dollar has been strong, meaning that it has a higher value than the currency in other countries. If the U.S. dollar is strong, which of the following is true?

Trade deficits may go

Tyrion is a purchasing analyst for Dow Chemical. He is responsible for negotiating agreements with raw material manufacturers used as input for various Dow Chemical products. He prides himself on his organized and rational approach to his job purchasing chemicals and attempts to utilize the same approach in his personal life. He recently ordered ink cartridges from Amazon for his printer in his home office and received free shipping since he's a Prime member. He also likes how Amazon offers the opportunity to re-order items from his previous orders. How would you classify the value Tyrion received from his purchase of ink cartridges from Amazon?

Utilitarian

Bertrand's parents are originally from France. They have spoken to him in both English and French for as long as he can remember. However, he thinks that they spend more time correcting his pronunciation and use of grammar when he speaks French compared to when he speaks English. Over time, Bertrand has learned that this is common for French families as they desire to speak "perfect" French. Thus, these families share a common __________ of speaking perfect French, which is one component of culture.

Value