Marketing Ch. 3

The __________ forbids the manufacture or sale of adulterated or fraudulently labeled foods and drugs.

Federal Food and Drug Act

Which of the following refers to the 49 million people born between 1965 and 1976?

Generation X

Which of the following refers to the 83 million people born between 1977 and 2000?

Generation Y

The __________ environment consists of forces that create new technologies that lead to new product and market opportunities.

technological

Baby boomers are the __________.

78 million people born during the years following World War II and lasting until 1964

__________ is the development of strategies and practices that create a world economy that the planet can support indefinitely.

Environmental sustainability

Which of the following consists of economic factors that affect purchasing power and spending patterns?

Economic environment

What is the purpose of the Wheeler-Lea Act?

Makes deceptive, misleading, and unfair practices illegal regardless of injury to competition

Which term refers to the actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?

Marketing environment

Which of the following is the name for the firm that helps a company to promote, sell, and distribute its goods to final buyers?

Marketing intermediary

__________ refers to the actors close to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

Microenvironment

Which term refers to the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities?

Natural environment

__________ consist of the laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.

Political environments

Which term refers to any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives?

Public

The __________ empowers the FTC to establish limits on quantity discounts, forbid some brokerage allowances, and prohibit promotional allowances except when made available on proportionately equal terms.

Robinson-Patman Act

Which of the following describes Generation Y?

The 83 million people born between 1977 and 2000

Sherman Antitrust Act

The __________ prohibits monopolies and activities (price-fixing, predatory pricing) that restrain trade or competition in interstate commerce.

What is the microenvironment?

The actors close to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors, and publics

What is environmental sustainability?

The development of strategies and practices that create a world economy that the planet can support indefinitely

What is the macroenvironment?

The larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces

Which of the following describes the natural environment?

The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities

Which of the following describes demography?

The study of human population in terms of size, density, location, age, gender, race, occupation, and other statistics

The __________ makes deceptive, misleading, and unfair practices illegal regardless of injury to competition.

Wheeler-Lea Act

Macroenvironment

Which term refers to the larger societal forces that affect the demographic, economic, natural, technological, political, and cultural forces?

A public is __________.

any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives

The cultural environment is the __________.

institutions and other forces that affect a society's basic values, perceptions, preferences, and behaviors

Smart marketing managers take a __________ approach rather than a reactive approach to the marketing environment.

proactive

The Sherman Antitrust Act __________.

prohibits monopolies and activities (price-fixing, predatory pricing) that restrain trade or competition in interstate commerce