Chapter 5

RFID

A new technology called ___________ allows a company to follow items as they move through the supply chain and to their final destination with the consumer

Decline

An example of inflation would be when increasing prices cause the purchasing power of the dollar to:

Interest rate

At its most basic level, the _________ refers to the cost to the individual for borrowing money

Consumer

At the center of all analysis of the marketing environment is the __________ and his/her specific behavior and attitudes

Demographics

Characteristics of human populations such as gender, race, age, and income

Prohibition of false advertising, Product safety standards

Examples of government legislation designed to protect the consumer

Immediate environment

Factors that influence and affect consumers include a company's capabilities, competitors, and partners, and are referred to as:

high end of the market, low end of the market

Having a broad range in incomes creates marketing opportunities at the:

Culture

If your family shares a tradition of getting together on New Year's Day, then this is part of you _________

Consumer

In all marketing efforts, the __________ is at the center

Competitors

In the immediate environment it is critical that marketers understand their firm's _____________ including their strengths, weaknesses, and likely reactions to the marketing activities that their own firm undertakes

Green marketing

Investing in phosphate-free laundry powder

Health and wellness concerns

Popularity of hand sanitizing gel

Inflation

Refers to the persistent increase in the prices of goods and services

Privacy concerns

The Do Not Call Registry for cell phones

political/regulatory

The ______________ environment comprises political parties, government organizations, and legislation and laws

Company, competitors, and corporate partners

The most important immediate environmental factors that impact consumers are the

Laws and legislation, political parties

The political/regulatory environment consists of:

Culture with limited time

The popularity of delivery services

Culture

The shared meanings, beliefs, morals, values, and customs of a group of people

Language differences, Food preferences

What are some components of a country's culture?

Corporate partners, The competitors, The company

What are the immediate environmental factors that impact consumers?

B,C,D

What do studies show average pay and education levels? a. Those who dropped out of high school earn approximately $800 a week b. Those who graduated with a high school diploma but did not attend college earn about $650 a week c. Those who did not graduate from high school earn about $450 d. Those who earn a bachelor's degree from college earn about $1,200 a week

Save; borrow

When interest rates are high, consumers have a greater incentive to _________ more, but when interest rates are low, consumer have a greater incentive to ___________

Consumers

When launching a new clothing line a company must primarily focus on the needs and wants of whom?

Macroenvironment

When the manager conducts a scan, he assesses the ___________, which includes social, political, economic, and technological factors

Red Lobster, it may be seen as casual dining yet customers often perceive it as upscale in comparison to eating at Burger King or Subway

Which of the following firms would be the most likely to see food sales suffer as a result of inflation and rising costs and consumers wanting to save money?

Caucasian

Which of the following groups are NOT expected to experience population growth in the United States in the next 20 years?

B

Which of the following industries is most likely to suffer a downturn when interest rates rise? a. Personal care product industry b. Housing market c. Investment in bonds d. Grocery stores

Multimedia advertising

Which of the following is NOT a currently important social trend for consumers? a. Multimedia advertising b. Green marketing c. Time-poor society d. Health and wellness

A

Which of the following statements about gender and promoting goods and services is true? a. More firms today attempt to transcend gender boundaries b. Gender roles must always be clear and distinct in advertising c. Shifts in gender-related attitudes do not affect how firms promote their products d. Fewer firms today are careful about gender neutrality in positioning products

Competition, competition is a factor in the immediate environment, not the macroenvironment

Which of these factors is not a microenvironmental factor that directly influences a firm? a. Demographics b. Culture c. Technology d. Competition

The exchange rate has become less favorable to the US dollar

You planned a trip to Europe far in advance and budgeted for the trip. When you get home and credit card bills drive, you find that the trip cost more than you were expecting. How might a change in the exchange rate between US dollars and the foreign currency account for this difference?