Ch.3: Analyzing the Marketing Environment (REVIEW)

Which of the following is true of environmental​ sustainability? A. Companies are learning that engaging in sustainable practices is good for business. B. Sustainability requires​ trade-offs between present needs and needs of future generations. C. Following government regulations is sufficient to support sustainability. D. ​Energy-efficient operations are unrelated to sustainability. E. Sustainability is​ important, but a​ company's core mission should focus on profits and customers.

A. Companies are learning that engaging in sustainable practices is good for business.

Companies such as​ P&G, Walmart, and Levi Strauss have recognized the growing​ ________ in the U.S. population by targeting specially designed​ products, ads, and promotions to appeal to one or more​ ethnic, racial, or​ lifestyle-based groups. A. diversity B. millennial market C. number of dual income families D. illegal immigration E. income inequality

A. diversity

In response to a recent online hoax that went​ viral, McDonald's quickly issued statements disclaiming a widely distributed​ "pink goop" photo and noting that McNuggets were made using only boneless white breast meat chicken in a process that never produces anything remotely resembling the weird pink substance. This case is an example of a firm taking a​ ________ stance toward its marketing environment. A. proactive B. differentiated C. sustainable D. socially responsible E. reactive

A. proactive

One result of changes in​ people's views of nature is​ ________. A. the growth of the lifestyles of health and sustainability​ (LOHAS) market B. marketing teas that appeal to making a person feel well both physically and mentally. C. a decline in organizational loyalty D. a renewed interest in spirituality E. the increase in mass mingling through online social media

A. the growth of the lifestyles of health and sustainability​ (LOHAS) market

Following the Great​ Recession, U.S. consumers have now adopted a​ back-to-basics sensibility in their lifestyles and spending patterns that will likely persist for years to come. Marketers in all​ industries, in​ turn, are looking for ways to offer​ today's more financially frugal buyers greater​ value, an approach known as​ ________. A. value marketing B. ​customer-oriented strategy C. socially responsible marketing D. market targeting E. differentiated positioning

A. value marketing

In the United​ States, patriotism has increased in recent years. Marketers have responded with increased use of the​ "Made in​ America" appeal and patriotic themes. This reflects which aspect of​ culture? A. ​People's views towards society B. ​People's views of others C. ​People's views of themselves D. ​People's views of nature E. ​People's views of organizations

A. ​People's views towards society

Demography studies statistics include​ ________. A. ​age, gender,​ race, and occupation B. ​age, gender, the​ economy, and race C. population​ size, density, and spending patterns D. the​ economy, technology, and age structure of the population E. age, race, and lifestyle

A. ​age, gender,​ race, and occupation

Which of the following is an important trend in the natural environment that marketers should be aware​ of? A. Lack of consumer concern for the environment B. Products that require scarce resources facing large cost increases C. Cost decreases for nonrenewable resources D. The increase of availability of raw materials E. Decreased pollution

B. Products that require scarce resources facing large cost increases

Which of the following statements is correct regarding the current demographic​ environment? A. There are few differences between different generational groups. B. The U.S. population is rapidly getting older. C. The combined size of the Millennials and Gen Z has resulted in the U.S. population getting younger. D. The LGBT community is not an attractive target for marketers. E. The ethnic diversity of the U.S. population should remain stable in the years to come.

B. The U.S. population is rapidly getting older.

According to the​ text, what is the single most important demographic trend in the United States​ today? A. Increasing diversity B. The changing age structure of the population C. A​ better-educated population D. Changes in the American family E. Geographic population shifts

B. The changing age structure of the population

The most important actors in the​ company's microenvironment are​ ________. A. competitors B. customers C. publics D. company departments E. suppliers

B. customers

The macroenvironment consists of larger societal​ forces, which include​ ________. A. ​media, local, and financial publics B. economic, political, and cultural forces C. economic​ forces, political​ forces, and competitors D. ​competitors, publics, and customers E. cultural​ forces, technology, and customers

B. economic, political, and cultural forces

Companies that view the marketing environment as an uncontrollable element are more likely to take​ a(n) ________ approach toward environmental change. A. proactive B. reactive C. differentiated D. socially responsible E. environmentally sustainable

B. reactive

Regulation arises to ensure that firms take responsibility for the social costs associated with the production and consumption of their products.​ Therefore, regulation of business is desirable in order to protect​ ________. A. the interests of labor unions and their members B. the interests of society C. consumers from unfair business practices D. shareholders from losses E. companies from each other

B. the interests of society

Which of the following correctly lists actors in a​ company's microenvironment? A. ​Publics, demographics,​ suppliers, and competitors B. ​Competitors, marketing​ intermediaries, suppliers, and publics C. The​ economy, publics,​ competitors, and suppliers D. Suppliers, marketing​ intermediaries, technology, and publics E. ​Suppliers, marketing​ intermediaries, competitors, and culture

B. ​Competitors, marketing​ intermediaries, suppliers, and publics

To exercise their social responsibility and build more positive​ images, many companies are now linking themselves to worthwhile charitable organizations and social​ issues, a practice known as​ ________. A. value marketing B. ​cause-related marketing C. public policy D. socially responsible behavior E. corporate philanthropy

B. ​cause-related marketing

Damage caused by the recent earthquake and tsunami in Japan had a devastating effect on the ability of Japanese companies such as Sony and Toyota to meet worldwide demand for their products. This is an example of how the​ ________ can impact marketing decision making. A. value delivery network B. microenvironment C. natural environment D. technological environment E. economic environment

C. natural environment

Which of the following is true regarding the technological​ environment? A. As products and technology become more​ complex, safety becomes less of a concern. B. The pace of technological change is slowing down. C. Technological changes are the second most dramatic force in the macroenvironment after the economy. D. Companies must keep up with changes in technology or risk being left behind. E. Changes in technology are always beneficial to consumers and society.

D. Companies must keep up with changes in technology or risk being left behind.

Ford offers a wide variety of cars that range from around​ $14,000 to over​ $54,000. This reflects which economic​ factor? A. Interest rates B. Consumer spending C. A developing economy D. Income distribution E. Tax rates

D. Income distribution

Actors close to the firm that affect its ability to serve its​ customers, such as​ suppliers, marketing​ intermediaries, and​ competitors, are all components of a​ company's ________. A. economic environment B. technological environment C. macroenvironment D. microenvironment E. natural environment

D. microenvironment

​Disney's MagicBand RFID bracelet enables guests to enter a park or​ attraction, buy dinner or​ souvenirs, or even unlock their hotel room with a flick of the wrist. This is an example of how the​ ________ is impacting customer experiences and marketing decision making. A. natural environment B. microenvironment C. economic environment D. technological environment E. value delivery network

D. technological environment

Companies who passively accept the marketing environment​ ________. A. use lobbying to influence legislation B. develop strategies to change the environment C. assume that their strategic options are not bounded by the current environment D. view it as uncontrollable and do not attempt to change it E. form contractual agreements to control their distribution channels

D. view it as uncontrollable and do not attempt to change it

One important new technology is​ ________, which can track products from point of production to their usage and disposal. A. robotics B. the Internet C. bar code scanning D. smartphones E. RFID

E. RFID

A firm is concerned about how to respond to changes in its marketing environment. What advice would you give the​ firm? A. ​Don't do anything until you see what your competitors are going to do. B. If its current strategy is​ working, there is no need to change it. C. Things always change. There is not much that can be done about that. D. Watch what​ happens, and then respond. E. Whenever​ possible, take a proactive approach to the environment.

E. Whenever​ possible, take a proactive approach to the environment.

Being proactive towards the marketing environment means that​ ________. A. a company passively accepts the way things are B. a company watches the environment and follows what competitors do C. a company watches the environment and reacts to changes D. a company avoids threats E. a company develops strategies to change the environment

E. a company develops strategies to change the environment

One challenge that marketers face regarding the macroenvironment is that​ ________. A. ​competitors' actions are not always predictable B. because actors in this environment are close to the​ company, they are sometimes overlooked C. forces in this environment are​ stable, so marketers must strive to innovate D. because changes are​ predictable, the company has no advantage over competitors E. changes in this environment are often unforeseeable and uncontrollable

E. changes in this environment are often unforeseeable and uncontrollable

As a direct result of the explosion in digital​ technology, one area that advocates and policy makers are taking action on is​ ________. A. fair pricing B. unsafe products C. truth in advertising D. to enforce international trade policies E. invasion of privacy

E. invasion of privacy

Significant change in the age structure of a population is one example of the impact of the​ firm's ________. A.political environment B. microenvironment C. economic environment D. natural environment E. macroenvironment

E. macroenvironment

A firm can be proactive by​ ________. A. reacting to changes in the environment as they occur B. following existing laws C. waiting for other firms to respond to changes in the environment D. monitoring social media E. pressing lawsuits to keep competitors in line

E. pressing lawsuits to keep competitors in line

One important reason that business legislation is enacted is to​ ________. A. provide legal guidelines for businesses and marketers without actually enforcing them B. remove legal regulations from our free market economy C. ensure that companies make profits D. ensure that competition is unregulated E. protect consumers from unfair business practices

E. protect consumers from unfair business practices