marketing chapter 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?

Between 1977 and 2000

Which cohort represents the widest age range, ranging from teenagers to young adults with children?

millenials

Which generation consists mostly of the children of Baby Boomers?

millennials

What is NOT an important social trend for consumers at the moment?

multimedia advertising

______ culture is exemplified by the ways people within a particular geographic area refer to product categories differently from people in other areas of the country.

regional

How do demographics affect the launching of a new product? (Select all that apply.)

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?

Aging of the general population Increase in dual-income households

What are some characteristics of Generation X?

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

Which of the following are among the major macro-environmental factors? (Select all that apply.)

Cultural factors Political/legal (regulatory) factors Social factors

Which is the largest generational cohort since the Baby Boomers?

Gen Y

Why are marketers embracing gender neutrality?

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

What are demographic characteristics?

Generation Income Education

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

Generational cohort

Which statements about ethnicity and buying power in the United States are true? (Select all that apply.)

Hispanic buying power is expected to significantly increase. Population growth among various ethnicities will influence consumer behavior.

What are possible reasons for the increase in wealthy families? (Select all that apply.)

Increase in dual-income households Aging of the general population

What are some components of a country's culture? (Select all that apply.)

Language differences Food preferences

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

Marketers sell more products if they strive to transcend gender boundaries whenever possible.

What are among the goals of value-based marketing? (Select all that apply.)

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

What are some characteristics of Generation X? (Select all that apply.)

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

Marketers can use an analysis of the external and internal environments such as ______.

SWOT

What must marketers understand about their competition? (Select all that apply.)

Their likely response to marketing activities Their strengths Their weaknesses

How can culture be transmitted? (Select all that apply.)

Through families Through literature Through food

Which generational cohort was born between 1946 and 1964?

baby boomers

Which group is NOT expected to experience population growth in the United States in the next 20 years?

caucasians

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 factors is NOT a macro-environmental factor that directly influences a firm?

competition

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

consumers

A school may collaborate with a publishing company such as McGraw-Hill to ensure that the school receives enough books for each enrolled student. The publishing company is considered the school'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

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

demographics

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

demographics

Which demographic factors can help predict consumer buying patterns? (Select all that apply.)

education income

A company must be able to focus on its ______ competencies as an opportunity to deliver new products to its customers.

existing

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

green

When companies ensure that all the 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

What refers to a situation in which a company uses more resources advertising green products than it actually spends on environmentally sound practices?

greenwashing

____ occurs when a company markets products as environmentally friendly only boost sales not to actually improve the environment.

greenwashing

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

health and wellness concerns

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

highest-income group

Within the macro-environment and related to elements of the competitive industry in which the firm operates is the ______ environment.

immediate

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

immediate environment

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

macro-environment

Particularly in larger countries, marketers may have to respond to diverse consumer groups that refer to product categories differently. While some areas say they "go to a movie," others say they are "going to a show." This illustrates ______ culture.

regional

Macro-environmental factors include all of the following elements EXCEPT ______.

the CEO

There is increasing concern that ______ will be depleted through actions like 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 ______.

the same target market

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

their reaction

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 a greater benefit relative to the cost to consumers than competitors offer.

value-based