Marketing CH 3 quiz
Which of the following is NOT a problem involving the natural environment that marketers need to consider?
The aging US population
How does the microenvironment of a company differ from its macroenvironment?
The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics
Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes?
Tina's Tunes is likely to fail because it is ignoring the technological environment.
The Fair Packaging and Labeling Act in the United States enforces laws for what reason?
To protect consumers from fraudulent packaging and labeling
Ralph Lauren is a clothing brand that places their brand in high-end retail stores. There are now considering offering select styles that are of less quality to be placed in discount stores. The goal is to gain customers from diverse incomes and build their brand name among a different target consumer. This type of activity demonstrates the brands move to engage in
Value Marketing
n lecture, we explored the Economic Macro Environment Force by defining Discretionary Income. Which of the following brand marketers would be most interested in the level of Discretionary income a household possesses?
Vineyard Vines
Noah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial situation?
Work out a plan with its financial intermediaries
In lecture, Generational Marketing was defined and discussed. It was pointed out that a large flaw in this type of marketing is _____________________________________________________________________.
cohort groups for generations are defined in twenty year spans.
Trader Joe's is a grocery retail brand that is constantly researching consumer needs, location demographics and cultural shifts that create opportunity for new products to be added to their food offerings. By conducting constant research in these areas it can be said that the brand
does a good job environmental scanning
The major cultural values of a society are expressed by _________.
people's views of themselves and others, as well as their views of organizations, society, nature, and the universe
Wonders such as robotic surgery, miniaturized electronics, and antibiotics can be attributed to which marketing environment?
technological
To exercise their social responsibility, many companies are linking themselves to what type of marketing?
Cause-related
Which of the following BEST describes a duty that would fall under the jurisdiction of the FDA?
Checking the quality of food that is served in school lunches
In lecture, we discussed the Business Cycle as being a key indicator that Marketers should consider when monitoring which of the following forces?
Economic Force
The role of a company's marketing intermediaries is to do which of the following?
Help the company find, promote, sell, and distribute products
Overall, how has the American population changed over time?
It has become more diverse, better educated, and more mobile.
AIO (Activities, Interests and Opinions) was defined in lecture as part of
Lifestyle Marketing
The demographic, economic, natural, technological, political, and cultural forces that affect a company's ability to serve its customers make up which of the following?
Macroenvirnoment
A blizzard is bearing down on the Metro DC area. Local hardware stores have ordered and received extra stock of shovels, water, generators, ice melt and other products that customers will need to deal with the effects of the storm. This is an example of a ______________________force in the Macro Environment.
Natural
In lecture, there was discussion regarding various responses to Marketing Environment Forces. When a brand is a Market Leader in a product category they are most likely forced to take which of the following responses to managing the Market Environment?
Proactive
The Children's Online Privacy Protection Act in the United States enforces laws for what reason?
Prohibits online service operators from collecting personal information from children
The purpose of business legislation is primarily based on ________.
Protection
During lecture three responses to the Marketing Environment were discussed. Small business is likely going to utilize:
Reactive or Proactive
Daisy's Florist is a locally branded flower shop who is close to St. Elizabeth's Hospital. Daisy's Florist does much of their business fulfilling flower orders that are delivered to patients at the hospital. In lecture, the difference between direct and indirect competition was discussed. For Daisy's, which of the following is an indirect competitor?
St. Elizabeth's Hospital Gift Shop (they offer cards and other gifts to take up to patients directly)
Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes young, urban professionals who want new style, organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting and fewer young, urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation?
Target a new market with a different product.
