Chapter 5: Analyze MRKT Environment

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

Consumer

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

False

What is the name for a group of individuals who are of the same generation? A. Baby Boomers B. Generational cohort C. Regional culture D. Digital Natives

Generational cohort

______ refers to an increase in the prices of goods and services and a decline in purchasing power. A. Economic situation B. Exchange rate C. Inflation D. Elevation

Inflation

What are some components of a country's culture? (Select all that apply.) A. Language differences B. Economic factors such as GDP per capita C. Food preferences D. Pricing criteria

Language differences Food preferences

What are the current trends in food marketing? (Select all that apply.) A. Producing processed food as cheaply as possible B. Emphasizing the importance of red meat, especially beef C. Opening grocery stores in food deserts D. Reducing food waste

Opening grocery stores in food deserts Reducing food waste

Marketers can use an analysis of the external and internal environments such as ______. A. SWOT B. AIDA C. Growth Options D. Portfolio Analysis

SWOT

Which of the following are among the major macroenvironmental factors? (Select all that apply.) A. Social factors B. Political/legal (regulatory) factors C. Corporate partners D. Cultural factors E. Competitive factors

Social factors Political/legal (regulatory) factors Cultural factors

What tasks are firms increasingly using artificial intelligence (AI) to complete? (Select all that apply.) A. Speech recognition B. Psychological counseling C. Translations D. Decision making

Speech recognition Translations Decision making

When developing marketing plans, what should a firm consider their competition? A. The amount of time they have been in business B. Their confidential new product plans C. Their reaction D. Their growth trajectory

Their reaction

What must marketers understand about their competition? (Select all that apply.) A. Their strengths B. Their weaknesses C. Their likely response to marketing activities D. Their political affiliation

Their strengths Their weaknesses Their likely response to marketing activities

Which of the following are considered aspects of the physical environment? (Select all that apply.) A. Water B. Land C. Competitors D. Living organisms

Water Land Living organisms

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

cohort

When launching a new clothing line a company must focus most of all on the needs and wants of ______. A. suppliers B. corporate partners C. consumers D. competitors

consumers

A school may collaborate with a publishing company such as McGraw-Hill to ensure that the school receives enough books for each enrolled student. The publishing company is considered the school's ______ partner. A. co-branding B. corporate C. competitive D. profitable

corporate

If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ______. A. corporate partner B. competitor C. target market D. political force

corporate partner

An example of inflation would be when increasing prices cause the purchasing power of the dollar to ______. A. increase B. increase rapidly, then stabilize. C. stabilize D. decline

decline

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

dessert

A company must be able to focus on its ______ competencies as an opportunity to deliver new products to its customers. A. competitors' B. desired C. existing D. past

existing

Within the macroenvironment and related to elements of the competitive industry in which the firm operates is the ______ environment. A. immediate B. consumer C. competitive D. legal

immediate

Factors that influence and affect consumers include a company's capabilities, competitors, and partners, and are referred to as the______. A. cultural environment B. immediate environment C. demographic environment D. economic environment

immediate environment

The political/legal environment consists of ______. (Select all that apply.) A. nonprofit organizations B. consumers C. political parties D. laws and legislation

political parties laws and legislation

The ______ environment is comprised of political parties, government organizations, and legislation and laws. A. demographic B. political/legal C. technological D. socio-cultural E. economic

political/legal

Macroenvironmental factors include all of the following elements EXCEPT ______. A. the CEO B. technology C. cultural effects D. political attitudes D. legislation and regulations

the CEO

There is increasing concern that ______ will be depleted through actions like deforestation. A. the physical environment B. company capabilities C. corporate partners D. competitors

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 ______. A. less well-educated consumers B. the same work environment C. price-sensitive consumers D. the same target market

the same target market