Smart Book Chapter 5

What is the average yearly income for young adults with a bachelor's degree in the United States?

$55,000

What are some characteristics of Generation X? (Choose every correct answer.)

About half are simultaneously caring for their parents and children Born between 1965 and 1980 Considered latchkey children

Which type of business would be the most likely to see food sales suffer as a result of inflation and rising costs and consumers' desire to save money?

An Upscale Steakhouse

Which generational cohort was born between 1946 and 1964?

Baby boomers

When were Millennials born?

Between 1981 and 1996

The most important immediate environmental factors that impact consumers are the ______.

Company capabilities, competitors, physical environment, and corporate partners

Which of these is NOT a macroenvironmental factor that directly influences a firm?

Competition

At the center of all analyses of the marketing environment is the and his or her specific behavior and attitudes.

Consumers

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. Multiple choice question.

Corporate

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

Corporate Partner

Which of the following are factors that affect consumers' immediate environment? (Check all that apply.)

Corporate partners Competitors Company capabilities

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

Culture

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

Decline

Which of the following services do the robots entering the marketplace provide? (Check all that apply.)

Delivering goods via driverless cars Filling orders Counting cash

Data that indicates the characteristics of human populations and segments is known as ______.

Demographics

are characteristics of human populations such as gender and race.

Demographics

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

Desert

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

Existing

True or False: Customers generally prefer talking to a salesperson when they need information over searching on the Internet.

False

Changes in the value of the euro in relation to the dollar over time is an example of which of the following?

Foreign currency fluctuation

Which is the largest generational cohort since the Baby Boomers?

Gen Y

Which of the following is the generational cohort that consists of people born between 1965 and 1980?

Generation X

What are Digital Natives also called?

Generation Z

Consumers in a cohort are a group of people in the same generation who tend to have similar buying behaviors.

Generational

What is the name for a group of individuals who are of the same generation?

Generational cohort

Gretchen lives in the United States and is going on vacation to Australia. She wants to go when it makes the most economic sense for her. Which of the following would be the best time for Gretchen to go? Multiple choice question.

Gretchen should go when the US dollar is strong and Australian currency is weak.

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

Highest-income groups

Which of the following can help predict consumer buying patterns? (Check all that apply.)

Income earned Education attained

What are possible reasons for the increase in wealthy families? (Choose every correct answer.)

Increase in dual-income households Aging of the general population

Refers to an increase in the prices of goods and services and a decline in purchasing power.

Inflation

From a marketing perspective, focusing on mobile devices accomplishes what?

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

Which of the following are considered aspects of the physical environment? (Choose every correct answer.)

Land Water Living organisms

What are some components of a country's culture? (Choose every correct answer.)

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 generation consists mostly of the children of Baby Boomers?

Millenials

Which cohort came of age during the Great Recession?

Millennials

Which of the following are components of culture? (Choose every correct answer.)

Morals Customs Beliefs

The political/legal environment consists of which of the following? (Choose every correct answer.)

Political parties Laws and legislation

The International Fairtrade Certification Mark is granted to products that do which of the following? (Choose every correct answer.)

Promote sustainable farming Improve environmental standards for producers

What are current trends in food marketing and distribution? (Choose every correct answer.)

Reducing food waste Opening grocery stores in food deserts

Which items could be included in the Internet of Things? (Choose every correct answer.)

Refrigerators Coffee machines Washers and dryers

are increasingly 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 analysis

What tasks are firms increasingly using artificial intelligence (AI) to complete? (Choose every correct answer.)

Speech recognition Translations Decision making

Consumers who hesitate to purchase goods because they worry about the potentially low wages paid to workers in the fast fashion industry are expressing ______ concerns. Multiple choice question.

Sustainability

There is increasing concern that ______ will be depleted through actions such as deforestation.

The physical environment

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

The same target market

Which factor 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 likely reaction

What must marketers understand about their competition? (Choose every correct answer.)

Their strengths Their likely response to marketing activities Their weaknesses

Which of the following are reasons marketers are increasingly embracing gender neutrality? (Check all that apply.)

There are shifts in status, attitudes, and behaviors of women that affect the way many firms need to design and promote their products and services. Gender roles are no longer as distinct as they once were.

Which of the following are true of Baby Boomers? (Check all that apply.)

They are born between 1946 and 1964. They will be the largest population of 50-plus consumers the United States has ever seen.

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

Things

True or False: Marketers use mobile devices and apps to improve the consumer experience by offering convenience and information.

True

Members of Generation have never known a time without the Internet and electronic gadgets.

Z