MKTG 2201 Chapters 1-3

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

Demographics

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

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

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.

A citizen-action public is a consumer organization, environmental group, minority group, or others who may question a company's marketing decisions

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

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

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

BABY BOOMERS 1946 to 1964, make up 74 million of the U.S. population - 22%, but they control 42% of the spending power.

Subsistence economies are best defined as economies that ________.

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

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

Core beliefs and values have a high degree of persistence.

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

This generation born between 1997-2016 are about 80 million and spend an estimated $43 billion - to $143 billion per year. They are digital natives and have 'digital in their DNA'. They are going to make a major impact on the economy.

Explanation: Gen Z are born between 1997-2016 and are about 80 million and spend an estimated $43 billion - to $143 billion per year in family spending. d influence another $333 billion hey are digital natives and have 'digital in their DNA'. Other generations mentioned above do not fit into this category and time period. (NONE OF THE ABOVE)

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

Gen Xers are said to be less materialistic than the other groups, since they prize experience, not acquisition.

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

Increased use of RFID systems to track products

What is an intermediary?

Intermediary is a physical distribution firm (Walmart) which helps the company stock and move goods from their points of origin to their destinations

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.

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 are local community residents and organizations who large companies usually work with to become responsible members of the local communities in which they operate.

A marketing intermediary would most likely help a firm by ________

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

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

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

The definition of CONSUMER markets is "individuals and households that buy goods and services for personal consumption".

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