Principles of Marketing, CH 3 QUIZ

Which generational group seamlessly blends online and offline worlds as they socialize and shop?

Generation Z

The role of a company's marketing intermediaries is to do which of the following?

Help the company find, promote, sell, and distribute products

of the following, which best reflects how the American population had changed over time?

It has become more diverse, better educated, and more mobile

Jill Parker owns 2,000 acres of ranch land in Iowa. Recently, a supply of natural gas was discovered on her property. Not knowing much about the marketing environment, she asks you what she should do. Which of the following is the BEST advice?

Jill should focus on the business market and license the natural gas rights.

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?

Macroenvironment

to exercise social responsibility, many companies are linking themselves to what type of marketing?

cause-related

The major cultural values of a society are expressed by people's views of ________

themselves, others, organizations, society, nature, and the universe

Which of the following identifies a change in the technological environment that could affect the success of a business?

A company develops a new battery that lasts twice as long as its predecessor

Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does not depict a proactive company?

A local restaurant refusing to counter false allegations of salmonella

To be successful, why should companies try to adopt a proactive stance on marketing?

A proactive stance allows a company to take advantage of opportunities as they arise.

Which of the following generational groups represents one of the most powerful forces shaping the marketing environment?

Baby boomers

Beverly's Burgers came under fire recently when allegations were made that its veggie burger were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers, but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers' response to the allegations?

Proactive

There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those changes?

Strong emphasis on free trade and open borders

Chicago's Best Pizzeria has been operating on the north side of Chicago for more than 30 years. It's 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 now fewer young urban professionals live there. The population had 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

Wonders such as smartphones, driverless cars, and antibiotics can be attributed to which marketing environment?

Technological

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

Which of the following includes shortages of certain raw materials, higher pollution levels, and more government intervention?

The natural environment

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 owner 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 fall because it is ignoring the technological environment

Nguyen's Sporting Goods is having difficulty obtaining 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

A wedding services company changes its marketing strategy to reflect the fact that more LGBT​ (lesbian/gay/bisexual/transgender) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company​ analyze?

cultural

The group of factors that affect consumers' purchasing power and spending patterns is called the ________

economic environment

________ is a group numbering 55 million or more consumers and sometimes is an overlooked "in-between" consumer group because it is both similar and less materialistic than other groups and prizes experience, not acquisition.

generation X

the second purpose of government regulation is to_____

protect consumers from unfair business practices

the third purpose of government regulation is to _______

protect the interests of society against unrestrained business practices

The purpose of business legislation is primarily based on ______

protecting companies from each other