Chapter 5 Analyzing the Marketing Environment

How do 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.

Which generational cohort was born during 1946 and 1964?

Baby Boomers

Which of the following groups are not expected to experience population growth in the United States in the next 20 years?

Caucasian

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

Consumers

What are the immediate environmental factors that impact consumers?

Corporate partners The competitors The company

What are some components of a country's culture?

Food preferences Language differences

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 1976

Generation X

Which of the following is the youngest generation, also known as Digital Natives?

Generation Z

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

Generation cohort

Match the social trend with the illustrative examples provided:

Green Marketing: Investing in phosphate-free laundry powder Health and wellness concerns: Popularity of hand sanitizing gel Privacy concerns: The Do Not Call Registry for cell phones Culture with limited time: The popularity of delivery services

Which income group's purchasing power is growing relative to other income groups in the United States?

Highest-income group

Which of the following industries is most likely to suffer a downturn when interest rates rise?

Housing market

Which of the following demographic factors can help to predict consumer buying patterns?

Income earned Education attained

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

Increase in dual-income households Maturing of the general population

_ refers to the persistent increase in the prices of goods and services.

Inflation

Which of the following are components of culture?

Morals Customs of a group of people Beliefs

Which of the following statements about gender and promoting goods and services is true?

More firms today attempt to transcend gender boundaries.

Which of the following are among the major microenvironmental factors?

Political/legal (regulatory) factors Cultural factors Social factors

Which of the following are example of government legislation designed to protect the consumer?

Prohibition of false advertising Product safety standards

Which of the following are among the goals of value-based marketing?

Provide value to consumers Recognize consumers' needs and wants

A new technology called _ allows a company to follow items as they move through the supply chain and to their final destination with the consumer.

RFID

Which of the following firms would be most likely to see food sales suffer as a result of inflation and rising costs and consumers wanting to save money?

Red Lobster

_ culture is exemplified by the ways people within a particular geographic area refer to product categories differently from people in other areas of the country.

Regional

You planned a trip to Europe far in advance and budgeted for the trip. When you get home and credit card bills arrive, you find that the trip cost more than you were expecting. How might a change in the exchange rate between US dollars and the foreign currency account for this difference?

The exchange rate has become less favorable to the US dollar.

What do studies show about average pay and education levels?

Those who graduated with a high school diploma but did not attend college earn about $34,000 a year. Those who earn a bachelor's degree from college earn about $63,000 a year.

A successful firm focuses on matching its core _ to what customers need and want.

competencies

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

competitors

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 supplier, the car company would be the supplier's _.

corporate partner

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

culture

Data that provides statistical information about the population and the various groups within the population is known as _.

demographics

When companies ensure that all the packaging has symbols, such as recycle symbol or symbols showing that they support wind energy, this is a strategic effort by the company to show that they are involved in _.

green marketing

Factors that influence and affect consumers include a company's capabilities, competitors, and partners, and are referred to as _.

immediate environment

Increasing sales of hand sanitizer gel have resulted in part from the social trend of:

increasing health and wellness concerns

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

interest rate

Having a broad range in incomes creates marketing opportunities at the _.

low end of the market high end of the market

Which of the following terms best describes the social, political, economic, and technological factors that marketers interact with?

macroenvironment

The _ environment comprises political parties, government organizations, and legislation and laws.

political/regulatory

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

privacy concerns

Macroenvironmental factors include all of the following elements except _.

the CEO's behavior

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 _.

the same target market