SDSU Marketing 370 Ch. 5 HW Review

They seek work and life balance

Gen Y

Which cohort includes more than 60 million members in the US alone. it also varies in ages ranging from teenagers to young adults who have their own families

Gen Y

A new technology called ______ enables a firm to track items as they move through the supply chain and into the hands of the final consumer

RFID

Generation _____ was born into a world full of electronic gadgets and digital technologies, such as the internet and social networks, this generation is being raised by and have a lot in common with their generation X parents

Z

How do demographics play an important role when launching a new product?

a product may be targeted towards a specific age group or generational cohort a product may be for a specific gender a product may be seen as better value by a certain ethnicity

Largest population of 50-plus consumers leisure time high priority individualistic born between 1946 1964

baby boomers

Which of the following groups is NOT expected to experience population growth in the US in the next 20 years?

caucasian

In the immediate environment it is critical that marketers understand their firm's ________ including their strengths, weaknesses, and likely reactions to the marketing activities that their own firm undertakes

competitors

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

consumer

Examples of gov legislation to protect the consumer

consumer product act children's television act nutrition labeling and education act

A company must be able to focus on its _____ competencies as an opportunity to deliver new products to its customers

core

If a car company collaborated with a sheet metal company they would be

corporate partners

immediate environmental factors that impact consumers

corporate partners, the company, the competitors

If your family shares a tradition of getting together on New Year's Day, then this is part of your

culture

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

decline

_______ are the characteristics of human populations such as gender, race, age, and income

demographics

marketers are finding it _____ to gain the attention of those customers who are actively engaged in many roles

difficult

when tourists visit other countries and shop because the value of the tourists' currency is stronger than the currency of the visited country, this is an outcome that results from a favorable ______ rate

exchange

Which of the following techniques have retailers adopted to respond to the social trend of the time-poor society

extended hours self checkout lanes online shopping

Which of the age cohorts tends to lack interest in status products when compared to other age cohorts

gen x

Which is the largest generational cohort since the baby boomers

gen y

Consumers in a ______ ______ are a group of people of the same generation having similar purchase behaviors because they have shared experiences and are in the same stage of life

generational cohort

Best describes the mean income by education level for individuals over 25 years old

graduated from college = 54,000 dropped out of high school = 23,000 graduated with a high school diploma = 32,500

_____ marketing involves a strategic effort by firms to supply customs with environmentally friendly merchandise

green

Investing in phophate-free laundry powder

green marketing

_____ and ______ concerns have forced new advertising guidelines which require marketers to produce food in reasonably portioned sizes

health and wellness

popularity of hand sanitizing gel

health and wellness concerns

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

highest income groups

Sitting within the macro environment and related to elements of the competitive industry in which the firm operates is the _____ environment

immediate

Sitting within the macro environment and related to elements of the competitive industry in which the firm operates is the ______ environment

immediate

Demographic factors that can help predict consumer buying patterns

income earned, education attained

What are some distinct characteristics that may be causing the increase in wealthy families

increase in dual-income households, maturing of the general population, higher overall level of education

_____ refers to the persistent increase in the prices of goods and services

inflation

At its most basic level, _____ refers to the cost to the individual for borrowing money

interest rate

Components of a country's culture

language differences food preferences what is most valued

Baby boomers

leisure time represents a high priority, individualistic, largest population of 50-plus consumers

When developing marketing plans, a firm should consider which of the following things about its competitors

likely reactions to the firm's plans weaknesses

Having a broad range in income creates marketing opportunities at the:

low end of the market and the high end of the market

In the environmental scan, the marketing manager assesses the ______ composed of factors including social, political, economic, and technological

macroenvironment

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

marketer should strive to transcend gender boundaries whenever possible

Components of culture

morals customs of a group of people beliefs

The _____ environment comprises political parties, government organizations, and legislation and laws

political

The political/regulator environment consists of:

political parties, gov agencies, laws and legislation

In response to the social trend of _______, the Federal Trade Commission established the Do Not Call Registry.

privacy concerns

the do not call registry for cell phones

privacy concerns

Goals of value based marketing

provide superior service to consumers, provide value to consumers, recognize consumers' needs and wants

Particularly in larger countries, marketers may have to respond to diverse consumer groups that refer to product categories differently. while some areas say they "go to a move," others say they are "going to a show". this illustrates _______ culture

regional

Generation X

represent 41 million Americans, born between 1965 and 1976, latchkey children

which of the following is a macro environmental force that influences a firm

social

Which macro environmental factors influence a firm, indirectly impacting consumers

technology demographics culture

Macro-environmental factors include:

technology, cultural effects, legislation and regulations, political attitudes

A company may choose to launch the same advertising campaign globally. this particular campaign may be launched with identical pictures and messages just in different languages. advertisers might try to bridge the cultural gap by appealing to

the same target market

Some fast food restaurant chains have found that their low cost "value menus" are growing in popularity, probably due to the social trend of

thrift

the popularity of delivery services

time-poor society

Red lobster as opposed to burger king, walmart, or subway, would see food sales suffer as a result of inflation

true

True or false: by 2015, people will access the web more often through smartphones than through laptops and desktops combined

true