Ch. 3 Quiz
How does the microenvironment of a company differ from its macroenvironment? A. The microenvironment affects a larger portion of the company than the macroenvironment. B. The microenvironment uses more financial resources than the macroenvironment. C. The microenvironment is company-based, whereas the macroenvironment is customer-based. D. The microenvironment deals with the big problems, whereas the macroenvironment deals with trivial problems. E. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.
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? A. Devise a marketing plan with a marketing service agency B. Work out a plan with its financial intermediaries C. Find a new physical distribution firm D. Reexamine its relationship with its resellers E. Analyze the finances of one of its competitors
Work out a plan with its financial intermediaries
Which of the following generational groups represents one of the most powerful forces shaping the marketing environment? A. Generation Z Your answer is not correct. B. The Greatest Generation C. Baby boomers This is the correct answer. D. Generation X E. Generation Y
Baby boomers
A wedding services company changes its marketing strategy to reflect the fact that more LGBTQ (lesbian/gay/bisexual/transgender/queer) 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? A. Technological B. Economic C. Political D. Cultural E. Natural
Cultural
Which of the following identifies a change in the technological environment that could affect the success of a business? A. A company develops a customer support program that customers rate twice as responsive as the previous program. B. A company develops a new warranty that lasts as long as its predecessor. C. A company develops a new battery that lasts twice as long as its predecessor. D. A company develops a new battery that costs twice as much as its predecessor. E. A company packages its product to be twice the size of its predecessor.
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. A small family winery offering a broader selection of red wines in response to a growing preference for red wines B. A dairy creating new flavors of organic yogurt in response to a trend toward healthy eating C. A local restaurant refusing to counter false allegations of salmonella D. A jewelry company taking advantage of the new trend of charm bracelets E. A utility company hiring lobbyists to influence legislation regarding climate change
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. A proactive stance ensures that a company will increase its market share. B. A proactive stance allows a company to compete with its competitors on quality alone. C. A proactive stance allows a company to compete with its competitors on pricing alone. D. A proactive stance allows a company to let the market determine prices for its products. E. A proactive stance allows a company to take advantage of opportunities as they arise.
A proactive stance allows a company to take advantage of opportunities as they arise.
To exercise social responsibility, many companies are linking themselves to what type of marketing? A. Intermediaries B. Generational C. Technological D. Environmental E. Cause-related
Cause-related
__________________ is a group numbering 55 million or more consumers and sometimes is an overlooked "in-between" consumer group because it is both smaller and less materialistic than other groups and prizes experience, not acquisition. A. Echo boomers B. Generation Z C. Baby boomers D. Senior citizens E. Generation X
Generation X
Which generational group seamlessly blends online and offline worlds as they socialize and shop? A. Baby boomers B. Generation X C. Generation Y D. The Greatest Generation E. Generation Z
Generation Z
The role of a company's marketing intermediaries is to do which of the following? A. Provide the resources needed by the company to produce goods and services B. Determine which products a company should market C. Help the company find, promote, sell, and distribute products D. Purchase the company's product E. Manage the company's human resources efforts
Help the company find, promote, sell, and distribute products
Of the following, which best reflects how the American population has changed over time? A. It has become more skeptical about marketing schemes. B. It has become more likely to develop brand loyalty. C. It has become more diverse, better educated, and more mobile. D. It has become wealthier, more cultured, and more frivolous in its spending habits. E. It has become closer knit and more family-oriented.
It has become more diverse, better educated, and more mobile.
Jill Parker owns 2,000 acres of ranchland 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? A. Jill should focus on negotiating with a local gas company for personal consumption. B. Jill should focus on ranching and ignore trying to commercialize or sell the natural gas. C. Jill should focus on the business market and license the natural gas rights. This is the correct answer. D. Jill should try to find propane reseller markets. E. Jill should focus her attention on the government markets.
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? A. Marketing environment B. Technological environment C. Macroenvironment D. Microenvironment E. Cultural environment
Macroenvironment
Beverly's Burgers came under fire recently when allegations were made that its veggie burgers 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? A. Reactive B. Passive C. Proactive D. Steadfast E. Determinative
Proactive
There have been dramatic changes in the political environment that affect marketing. Which of the following does NOT represent one of those changes? A. Increasing legislation regulating business B. Strong emphasis on free trade and open borders C. Greater emphasis on social responsibility Your answer is not correct. D. Greater emphasis on ethics E. Strong government agency enforcement
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. 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 now 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? A. Be proactive and convince customers that "exotic is better." B. Cut the prices on its pizza. C. Target a new market with a different product. D. Run an ad campaign on the health benefits of pizza. E. Sell a different food product, such as hamburgers or sushi.
Target a new market with a different product.
Wonders such as smartphones, driverless cars, and antibiotics can be attributed to which marketing environment? A. Natural B. Technological C. Political D. Social E. Cultural
Technological
Which of the following includes shortages of certain raw materials, higher pollution levels, and more government intervention? A. The political environment B. The economic environment C. The sociocultural environment D. The technological environment E. The natural environment
The natural environment
The group of factors that affect consumers' purchasing power and spending patterns is called the _________________. A. demographic environment B. sociocultural environment C. natural environment D. economic environment E. political environment
economic environment
The second purpose of government regulation is to _____________________. A. protect companies from each other B. protect consumers from unfair business practices C. punish companies for unlawful behavior D. regulate and constrain companies Your answer is not correct. E. protect the interests of society against business competition
protect consumers from unfair business practices
The third purpose of government regulation is to _____________________. A. protect the interests of society against unrestrained business practices B. protect consumers from unfair international trade C. regulate and constrain companies D. protect companies from each other E. punish companies for unlawful behavior
protect the interests of society against unrestrained business practices
The purpose of business legislation is primarily based on ________. A. punishing companies for unlawful behavior B. regulating and constraining companies C. protecting the interests of society against unrestrained business practices protecting companies from each other D. protecting companies from each other E. protecting consumers from unfair business practices
protecting companies from each other
The major cultural values of a society are expressed by people's views of ____________________. A. themselves, others, organizations, society, nature, and the universe B. the universe, society, and themselves C. organizations and themselves D. society, organizations, and nature E. themselves, nature, and society
themselves, others, organizations, society, nature, and the universe
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? A. Tina's tunes are likely to prosper as mistrust in the digital age increases. B. Tina's Tunes is likely to fail because it is ignoring the natural environment. C. Tina's Tunes is likely to fail because it is ignoring the current political environment. D. Tina's Tunes will experience a rebound as the fear of the Great Recession declines. E. Tina's Tunes is likely to fail because it is ignoring the technological environment.
Tina's Tunes is likely to fail because it is ignoring the technological environment.