Week 2 CH 5

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

gen Z

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

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

the physical environment

Which generational cohort was born between 1946 and 1964?

Baby Boomers

Which of the following are components of culture? (Choose every correct answer.) Beliefs Customs Morals Economics

Beliefs Customs Morals

When were Millennials born?

Between 1977 and 2000

What are some characteristics of Generation X? (Choose every correct answer.) Born between 1965 and 1976 Represent 41 million Americans Collect Social Security Considered latchkey children

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

What tasks are firms increasingly using artificial intelligence (AI) to complete? (Choose every correct answer.) Psychological counseling Decision making Speech recognition Translations

Decision making Speech recognition Translations

What services do many firms already use robots to provide? (Choose every correct answer.) Providing childcare Delivering goods via driverless cars Filling orders Counting cash

Filling orders Counting cash

Which is the largest generational cohort since the Baby Boomers?

Gen Y

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

Generation X

What are Digital Natives also called?

Generation Z

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

Generational cohort

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

Highest-income groups

What are possible reasons for the increase in wealthy families? (Choose every correct answer.) Increase in the number of single-parent households Aging of the general population Increase in dual-income households Decrease in income polarization

Increase in dual-income households Aging of the general population

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

Inflation

Which are traits that best describe Baby Boomers? (Choose every correct answer.) Largest population of consumers 50 or older First generation of latchkey children Have never known a time without electronic gadgets Born between 1946 and 1964

Largest population of consumers 50 or older Born between 1946 and 1964

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

Macroenvironment

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

Milennials

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.) Improve environmental standards for producers Reduce packaging waste Promote sustainable farming Attribute less than 30 percent of their calories to fat

Promote sustainable farming Improve environmental standards for producers

What are some characteristics of Generation X? (Choose every correct answer.) Represent 41 million Americans Born between 1965 and 1976 Collect Social Security Considered latchkey children

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

____ 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

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

Their likely reaction

What must marketers understand about their competition?

Their likely response to marketing activities Their strengths Their weaknesses

what are the immediate environmental factors that impact consumers?

company competitors physical environment corporate partners

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 Demographics Technology Culture

competition

At the center of all analyses of the marketing environment is the ____ and his or her specific behavior and attitudes.

consumer

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

consumer

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

___ 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 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

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

generational

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

political/legal