Marketing Chapter 3

Which generational group is most likely less materialistic when compared with other groups?

Generation X

Members of which generational group are referred to as echo boomers?

Generation Y

Which generational group consists of the kid, teen, and tween markets?

Generation Z

Which generational group is most comfortable using digital technologies?

Generation Z

Which of the following is most likely a true statement about generational groups in the United States?

The Generation Xers are the most educated generation to date.

Which of the following is most likely a true statement about diversity in the United States?

Various ethnic groups mix together but also retain their cultural differences.

Which of the following is an example of a local public?

a community organization that addresses welfare issues in its neighborhood

Which of the following changes most likely forced marketers to shift to value marketing after the Great Recession of 2008/2009?

a decrease in customer spending in all product categories

Which of the following is an example of cause-related marketing?

a firm selling electronics and giving a percentage of sales to charity

Which of the following is part of the microenvironment of a company's marketing environment?

a just-in-time inventory system used by the company when making purchase decisions

Members of which of the following generational groups were born between 1946 and 1964?

baby boomer

To which of the following generational groups do zoomers belong?

baby boomer

Which generational group controls the highest percentage of disposable income in the United States?

baby boomer

Secure is a financial services and insurance company. The company's most profitable division is one that sells the Secure Future Plan. The Secure Future Plan targets customers who are entering retirement and want long-term savings so they can remain financially independent in the later years of their life. The marketing team at Secure has most likely targeted the plan at ________.

baby boomers

Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target?

business market

Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of a ________.

financial intermediary

Which of the following is most likely categorized as a business market?

firms that buy goods and services for further processing

Reseller markets consist of ________.

firms that buy goods and services to sell at a profit

Which of the following has resulted from the increased educational levels of the U.S. population?

greater job growth for professional workers

Which of the following represents a change in the technological environment of a marketing firm?

increased use of RFID systems to track products

Which of the following is the most financially strapped generation in the post-recession era?

the Millennials

Which of the following factors would fall under the demographic environment for marketers?

the educational level of a company's customers

Which of the following are examples of internal publics of a company?

the managers, board of directors, and workers of the company

Which of the following is part of the microenvironment of a firm's marketing environment?

the suppliers who work with the company

Which of the following is most likely true about business legislation?

Business laws that are enforced by government agencies have a major impact on a company's marketing performance.

________ markets consist of individuals and households that buy goods and services for personal use.

Consumer

Which of the following is most likely true about people's beliefs and values?

Core beliefs and values have a high degree of persistence.

________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

Demography

Which of the following is most likely a true statement about the technological environment of a firm?

Every new technology makes an older technology obsolete.

Which of the following is most likely a true statement about people's views about organizations?

Many people view work at an organization as a required chore.

Which of the following is an example of a media public?

television station

Which of the following is a demographic trend observed in the United States?

More people are working remotely.

________ are distribution channel firms that help a company find customers or make sales to them.

Resellers

________ provide the resources needed by a company to produce its goods and services.

Suppliers

Which of the following is most likely a true statement about baby boomers?

They are the wealthiest generation in U.S. history.

Which of the following is most likely true about companies that take a proactive stance toward the marketing environment?

They develop strategies to change the marketing environment.

Which of the following is most likely a characteristic of the Millennial generation?

They like to engage in two-way brand conversations.

Which of the following is most likely a characteristic of firms that adopt a reactive approach toward the marketing environment?

They take advantage of the opportunities provided by the environment.

Which of the following is most likely a characteristic of Generation Xers?

They were the first group to grow up in the Internet era.

Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children?

cause-related marketing

Minority groups that question a company's marketing decisions most likely belong to ________ publics.

citizen-action

Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.

citizen-action public

Subsistence economies are best defined as economies that ________.

consume most of their own agricultural output and offer few market opportunities

According to the text, ________ are the most important actors in a company's microenvironment.

customers

Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company.

economic

The citizen-action publics in a company's marketing environment include ________.

environmental groups

The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach?

local publics

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

macroenvironment

One of the demographic trends seen in the United States over the last few decades is the decrease in the proportion of ________.

manufacturing workers

Which of the following has the primary function of helping a company target and promote its products to the right markets?

marketing services agencies

Which of the following is a geographic shift that has been observed in the United States in recent times?

more Americans moving to micropolitan areas

A marketing intermediary would most likely help a firm by ________.

moving the firm's goods from production points to distribution centers

Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.

natural

In a marketer's macroenvironment, the ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.

political

Governments most likely enact business legislation to ________.

prevent unfair competition in the market

JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to various retail outlets. To which of the following markets does JJ Distributors Ltd. directly cater?

reseller markets

Which of the following marketing actions would a proactive organization most likely take?

running advertorials to shape public opinion

Which of the following is most likely a financial public?

stockholder

The responsibility for setting a company's mission, objectives, broad strategies, and policies primarily lies with its ________.

top management

An ethical concern about companies that use online marketing techniques and involve consumer information in the process is that these companies ________.

track, share, and misuse browsing details of unknowing customers