Ch. 5

What is the average yearly income for young adults with a bachelor's degree in the United States?

$50,000

When were Millennials born?

1977-2000

What are possible reasons for the increase in wealthy families? (Choose every correct answer.)

Aging of the general population Increase in dual-income households

What are the immediate environmental factors that impact consumers? (Choose every correct answer.)

Corporate partners Competitors Company capabilities

Why are marketers embracing gender neutrality? (Choose every correct answer.)

Customers cannot be pigeonholed according to gender. Gender roles are no longer as distinct as they once were.

Which of the following services do the robots entering the marketplace provide? (Check all that apply.)

Delivering goods via driverless cars Filling orders Counting cash

Which demographic factors can help predict consumer buying patterns? (Choose every correct answer.)

Education attained Income earned

Which of the following is the generational cohort that consists of people born between 1965 and 1976?

Gen X

Which is the largest generational cohort since the Baby Boomers?

Gen Y

What are Digital Natives also called?

Gen Z

Which income groups' purchasing power is growing relative to other income groups?

Highest-income groups

The ... occurs when there are numerous "smart devices" that work together to help both consumers and companies consume more efficiently

Internet of Things

Which goods and services are most likely to suffer a downturn when interest rates rise?

Luxury cars

Which word best describes the social, political, economic, and technological factors with which marketers interact?

Macroenviroment

Which cohort varies the most in age, ranging from teenagers to adults who have their own families?

Millennials

Which generation consists mostly of the children of Baby Boomers?

Millennials

The International Fairtrade Certification Mark is granted to products that do which of the following? (Choose every correct answer.)

Promote sustainable farming Improve environmental standards for producers

What are some characteristics of Generation X? (Choose every correct answer.)

Represent 41 million Americans Considered latchkey children Born between 1965 and 1976

... are increasingly performing work, like filling orders, that humans used to do.

Robots

To determine if an opportunity is attractive or unattractive for a firm, marketers can use an analysis of the external and internal environments such as ______.

SWOT Analysis

Which factor should marketers keep in mind about gender when promoting goods and services?

The status and earning power of women have increased in recent decades.

When developing marketing plans, what should a firm consider about their competition?

Their likely reaction

What must marketers understand about their competition? (Choose every correct answer.)

Their strengths Their weaknesses Their likely response to marketing activities

Which of the following are true of Baby Boomers? (Check all that apply.)

They will be the largest population of 50-plus consumers the United States has ever seen. They are born between 1946 and 1964.

Members of Generation have never known a time without the Internet and electronic gadgets.

Z

The most important immediate environmental factors that impact consumers are the ______.

company, competitors, and corporate partners

Which of these is NOT a macroenvironmental factor that directly influences a firm?

competition

A smartphone manufacturer may collaborate with a company that makes lithium-ion batteries to ensure that their phones have the longest possible battery life. The battery maker is considered the smartphone company's ______ partner.

corporate

If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ______.

corporate partner

A company must be able to evaluate an attractive opportunity in relation to its ______ competencies.

existing

Which of the following are components of culture? (Choose every correct answer.)

morals, beliefs, customs

Consumers who hesitate to purchase goods because they worry about the potentially low wages paid to workers in the fast-fashion industry are expressing ______ concerns.

sustainability