Marketing (Beecher) Chapter 5 smart book

How might demographics affect the launching of a new product? (Choose every correct answer.)

-A product may be for a specific gender. -A product may be targeted towards a specific age group or generational cohort.

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

-Aging of the general population -Increase in dual-income households

Roughly 80% of population growth over the next two decades in the United States is projected to come from a combination of which of the following groups? (Choose every correct answer.)

-Asians -Hispanics -African Americans

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

-Beliefs -Morals -Customs

What are examples of government legislation designed to protect the consumer? (Choose every correct answer.)

-Children's Television Act -Nutrition Labeling and Education Act -Consumer Product Safety Act

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

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

Which of the following are factors that affect consumers' immediate environment? (Check all that apply.)

-Corporate partners -Competitors -Company capabilities

Which of the following are among the major macroenvironmental factors? (Choose every correct answer.)

-Cultural factors -Social factors -Political/legal (regulatory) factors

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 of the following demographic factors help predict consumer buying patterns? (Check all that apply.)

-Education attained -Income earned

Which of the following are reasons marketers are increasingly embracing gender neutrality? (Check all that apply.)

-Gender roles are no longer as distinct as they once were. -There are shifts in status, attitudes, and behaviors of women that affect the way many firms need to design and promote their products and services.

Which of the following are considered aspects of the physical environment? (Choose every correct answer.)

-Land -Water -Living organisms

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

Which of the following are demographic characteristics? (Choose every correct answer.)

-Race -Income -Generation

Which of the following are goals of value-based marketing? (Choose every correct answer.)

-Recognize consumers' needs and wants -Provide value to consumers

What are current trends in food marketing and distribution? (Choose every correct answer.)

-Reducing food waste -Opening grocery stores in food deserts

Which items could be included in the Internet of Things? (Choose every correct answer.)

-Refrigerators -Washers and dryers -Coffee machines

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

-Their strengths -Their weaknesses -Their likely response to marketing activities

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

-Their weaknesses -Their strengths -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.

How can culture be transmitted? (Choose every correct answer.)

-Through institutions -Through literature -Through words

What tasks are firms increasingly using artificial intelligence (AI) to complete? (Choose every correct answer.)

-Translations -Decision making -Speech recognition

What are some components of a country's culture? (Choose every correct answer.)

-food preferences -language differences

The political/legal environment consists of which of the following? (Choose every correct answer.)

-laws and legislation -political parties

Which legislation protects consumers from receiving sales phone calls

Amendment to the Telemarketing Sales Rule

When were Millennials born?

Between 1977 and 2000

Which is the largest generational cohort since the Baby Boomers?

Gen Y

What are Digital Natives also called?

Generation Z

Gretchen lives in the United States and is going on vacation to Australia. She wants to go when it makes the most economic sense for her. Which of the following would be the best time for Gretchen to go?

Gretchen should go when the US dollar is strong and Australian currency is weak.

Increasing sales of yoga equipment have resulted in part from which social trend?

Health and wellness concerns

From a marketing perspective, focusing on mobile devices accomplishes what?

It makes it more likely that a consumer will spend more at a retailer.

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

Macroenvironment

Which generation consists mostly of the children of Baby Boomers?

Millennials

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.

Which type of business would be the most likely to see food sales suffer as a result of inflation and rising costs and consumers' desire to save money?

an upscale steakhouse

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

company, competitors, and corporate partners

A successful firm focuses on matching its core ______ to what customers need and want.

competencies

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

competition

In all marketing efforts, the ______ is at the center.

consumer

When launching a new clothing line, a company must focus primarily on the needs and wants of ______.

consumers

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

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

culture

______ is defined as the shared meanings, beliefs, morals, values, and customs of a group of people.

culture

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

decline

Data that indicates the characteristics of human populations and segments is known as ______.

demographics

_____ are characteristics of human populations such as gender and race.

demographics

A food ____ refers to an area or neighborhood where there is limited or no access to healthy, affordable fresh food options.

desert

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

existing

True or False: Customers generally prefer talking to a salesperson when they need information over searching on the Internet.

false

Changes in the value of the euro in relation to the dollar over time is an example of which of the following?

foreign currency fluctuation

Consumers in a _____ cohort are a group of people in the same generation who tend to have similar buying behaviors.

generational

What is the name for a group of individuals who are of the same generation?

generational cohort

Consumer desires for environmentally friendly products and services has led to ______ marketing.

green

When companies ensure that all packaging has certain symbols, such as the recycle symbol or symbols showing support for wind energy, this is a strategic effort by the company to show that they practice ______.

green marketing

______ occurs when a company markets products as environmentally friendly to boost sales but does not actually have the goal of improving the environment. (Enter only one word in the blank.)

greenwashing

The appearance of mobile apps that track consumers' exercise, calorie intake, and sleep cycles are the result of ______.

health and wellness concerns

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

highest-income groups

______ refers to an increase in the prices of goods and services and a decline in purchasing power.

inflation

At its most basic level, ______ refers to what it costs an individual to borrow money.

interest rate

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

luxury cars

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

millennials

By the year 2055, which group is expected to remain an ethnic minority in the United States?

no single group

The ______ environment is comprised of political parties, government organizations, and legislation and laws.

political/legal

Consumers who dislike that retailer websites install "cookies" on their computers are likely most concerned about which issue?

privacy

A national fast-food chain that meets local demand by offering one type of food in one part of the country and an entirely different menu item in another part of the country is an example of catering to ______ culture.

regional

______ culture is exemplified by the ways people within a particular geographic area have different food preferences from people in other areas of the country.

regional

_____ are increasingly performing work, like filling orders, that humans used to do. (Enter one word in the blank.)

robots

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

save; borrow

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

Macroenvironmental factors include all of the following elements EXCEPT ______.

the company CEO

There is increasing concern that ______ will be depleted through actions such as deforestation.

the physical environment

A company may choose to launch the same advertising campaign globally. This particular campaign may be launched with identical pictures and messages but in different languages. Advertisers might try to bridge the cultural gap by appealing to ______ across countries.

the same target market

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

their likely reaction

True or False: Marketers use mobile devices and apps to improve the consumer experience by offering convenience and information.

true

True or False: The first factor in the immediate environment that affects the consumer is the firm itself.

true

One of the goals of ______ marketing is to provide customers with a greater benefit relative to the cost than competitors offer.

value-based

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

z