Chapter 3 Smartbook
Which of the following are among the goals of environmental scanning? (Check all that apply.)
-Continually acquiring information on external events -Interpreting and ideating trends
Baby boomers are those people born between the years
1946 and 1964.
The world's population is expected to reach __________ billion by 2050.
9.8
Which two best describe how demographics play an important role when launching a new product?
A product may be designed for a specific gender. A product may be targeted toward a specific age group or generational cohort.
Which of the following are considered demographics?
Age and gender Occupation and income Ethnicity and race
Moral Idealism
Applies ethical duties, such as a duty to do no harm.
________ technology is likely to become prevalents in cars and delivery drones, as well as in robots for the home and office.
Automation
Which generational cohort was born between 1946 and 1964?
Baby Boomer
Which two of the following are the most common unethical behaviors when it comes to competition in business?
Bribery Economic espionage
What are some characteristics that describe Generation Z?
Broadest definitions of diversity and inclusivity High expectations of the digital marketplace
The right to safe products and to be informed by businesses that sell them are part of the ______ Bill of Rights enacted in 1962 by President John F. Kennedy.
Consumer
Which of the following are the broad categories that should be considered when analyzing the components of an environmental scan? (Check all that apply.)
Consumer income Macroeconomic conditions
________ is a movement to increase the influence, power, and rights of consumers in dealing with institutions.
Consumerism
________ incorporates the set of values, ideas, and attitudes that are learned and shared among the members of a group.
Culture
Which component of an environmental scan pertains to the income, expenditures, and resources affecting the cost of running a business or household?
Economy
_______ scanning is the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
Environmental
_________ serve as guidelines on how to act rightly and justly when faced with moral dilemmas. (Enter one word in the blank.)
Ethics
Those born during the 'baby bust' when the number of children born each year was declining are part of which generational cohort?
Generation X
Which of the following generational cohorts consists of people born between 1965 and 1976?
Generation X
Which generational cohort's membership is known to exert heavy influence on music, sports, technology, and communication?
Generation Y
Which of the following generational cohorts was born between 1977 and 1994 that was the period of increasing births?
Generation Y
The post-millennial generation is referred to as which generational cohort?
Generation Z
What is the term for a group of individuals who are of the same generation?
Generational cohort
Baby boomers, Generation X, and Generation Y are examples of what?
Generational cohorts
________ is predicted to have the world's largest population by 2050.
India
Which of the following are true of a code of ethics?
It is a formal statement of ethical principles and rules of conduct. It typically addresses contributions to government officials and political parties.
Which of the following is true of the Better Business Bureau?
It is a voluntary alliance of companies whose goal is to help maintain fair practices.
Which of the following statements about regulation as an environmental force is true?
It often places restrictions on the activities of businesses.
Both
Learned through the process of socialization and by formal education.
is an information- and communication-based electronic exchange environment occupied by sophisticated computer and telecommunication technologies and digital offerings. (Enter one word in the blank.)
Marketspace
A ________ is described with demographics.
Population
Social responsibility includes the concepts of _______ responsibility, stakeholder responsibility, and societal responsibility.
Profit
______ responsibility holds that companies have a simple duty: to maximize profits for their owners or stockholders.
Profit
Which of the following is the first and most central concept of social responsibility?
Profit responsibility
Which of the following are the concepts of social responsibility?
Profit responsibility Societal responsibility Stakeholder responsibility
Recently, mobile phone makers have introduced phones with large easy-to-read buttons to tap into the growing market of ________.
Seniors
Which of the following refers to the fact that organizations are part of a larger society and are accountable to that society for their actions?
Social responsibility
_______ development involves conducting business in a way that protects the natural environment while making economic progress.
Sustainable
________ development involves conducting business in a way that protects the natural environment while making economic progress.
Sustainable
Which of the following environmental forces most directly impacts the marketspace?
Technological
Which of the following environmental forces refers to inventions or innovations from applied science or engineering research?
Technology
is an environmental force that involves developing applications from science or engineering research. (Enter one word in the blank.)
Technology
Societal responsibility extends the concept of social responsibility to which of the following?
The general public Preservation of the ecological environment
Which of the following are true of the Americans belonging to Generation Y? (Check all that apply.)
They are often referred to as the echo-boomers. They include people born between 1977 and 1994.
Which two of the following are personal moral philosophies that have the most direct bearing on marketing practice?
Utilitarianism Moral idealism
Using technology for the development of new products creates ________ for customers.
Value
Culture is defined as a learned and shared set of which of these?
Values Attitudes Ideas
Biometric monitors and exoskeletons are examples of what type of technology?
Wearable technology
Utilitarianism
Whenever benefits exceed the costs, a behavior is ethical.
Consumerism is
a movement to increase the power and rights of consumers in dealing with institutions.
Which two of the following are common demographic measures?
age, ethnicity
Self-regulation is
an alternative to government control in which industry attempts to police itself.
Green marketing is
any effort to produce, promote, or reclaim environmentally sensitive products.
Even when society has strong ethical standards, a questionable ________ can lead to harmful practices like insider trading, deceptive sales practices, and bribery.
business culture
A(n) ___ ____ ____ is a formal statement of ethical principles and rules of conduct.
code of ethics
The Sherman Antitrust Act and the Clayton Act were passed to protect
competition.
Economic espionage and corruption are unethical behaviors because they negatively affect
competitors
To do a thorough environmental scan, a marketer must consider both current and potential ________ in designing a marketing strategy.
competitors
The Consumer Product Safety Act and the resulting Consumer Product Safety Commission came about because of a grassroots movement called
consumerism
Technology is causing a change in the customer assessment of value because its cost is plummeting, resulting in
consumers focusing instead on quality, service, and relationships with the retailer.
The demographic characteristics of a population and its ______ comprise the social forces in the environment.
culture
The effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings are part of a business' ______.
culture
Describing a population with characteristics like age, gender, ethnicity, and income is referred to as
demographics
The term ________ indicates the characteristics of human populations and segments, especially those used to identify consumer markets.
demographics
According to the latest US Census, the US population is becoming larger, older, and more
diverse
The performance of the __________ can be measured using the GDP, the rate of unemployment, or price changes.
economy
Which two of the following are common demographic measures?
ethnicity age
A good marketer can identify potential opportunities by paying close attention to environmental ________; it is important to continuously monitor the business environment in which a company operates.
forces
Marketing efforts to produce, promote, and reclaim environmentally sensitive products are known as
green marketing.
Which two of the following are macroeconomic factors?
gross domestic product inflation
A consumer's ability to buy is related to his or her_________ , which consists of gross, disposable, and discretionary components (one word only).
income
Environmental scanning is necessary for an organization to
interpret trends that may be a source of opportunity.
The form of competition in which many companies compete with substitutable products within a price range and marketing tactics like coupons are effective is known as
monopolistic competition.
Two personal moral philosophies are ________, which considers certain rights and duties as universal, and ________, which focuses on the greatest good for the greatest number.
moral idealism; utilitarianism
What is considered a human rights abuse by an American company may be viewed as an acceptable business practice in China, which illustrates that
moral standards are relative to particular societies.
A pure monopoly occurs when ________ sells the product.
only one firm
Social responsibility means that organizations are
part of a society and accountable to it for their actions.
Sustainable development involves conducting business in a way that _____.
protects the natural environment while making economic progress
To get a comprehensive look at your competition, you should consider firms that
provide a product that satisfies the same specific need as yours does.
Baby boomers are currently
reaching retirement age at a fast rate.
When an industry attempts to police itself with the guidelines for practice, this may help the industry to avoid government interference. This idea is known as self- ______
regulation
An environmental scan will include _____ forces impacting a business by way of state and federal laws that may restrict its activities.
regulatory
Because culture is a socializing force that dictates what is morally right, moral standards are
relative to particular societies.
In the United States, the majority of new jobs are generated by _______ businesses.
small
The majority of the competitive landscape in this country is made up of
small businesses.
The demographic characteristics of a population and its culture are the basis of the ________ forces of the environment.
social
Profit responsibility, stakeholder responsibility, and societal responsibility are the three concepts of
social responsibility.
The broadest concept of social responsibility is
societal responsibility.
When an organization focuses on the obligations it has to consumers, employees, suppliers, and distributors it is accepting its ________ responsibility.
stakeholder
The right to be informed and the right to choose, as both pertain to the exchange process in marketing, are part of
the Consumer Bill of Rights.
The act that makes it unlawful to discriminate in prices charged to different purchasers of the same product is called
the Robinson-Patman Act.
Ethics refers to
the moral principles and values that govern the actions and decisions of an individual or group
Even when a product is well-suited for its intended targets, it won't be sold if
they don't have the necessary income.
Stakeholder responsibility focuses on the obligation an organization has to
those who can affect achievement of its objectives.
