BA 370 Marketing Smartbook 5 + vocab

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

$55,000

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

About half are simultaneously caring for their parents and children Born between 1965 and 1980 Considered latchkey children

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

Aging of the general population Increase in dual-income households

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

Which generational cohort was born between 1946 and 1964?

Baby Boomers

When were Millennials born?

Between 1981 and 1996

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

Competition

Which of the following services do the robots entering the marketplace provide?

Delivering goods via driverless cars Filling orders Counting cash

are characteristics of human populations such as gender and race

Demographics,

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

Which is the largest generational cohort since the Baby Boomers?

Gen Y

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 that affect the way many firms need to design and promote their products and services.

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

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

Income earned Education attained

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

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

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

Language differences Food preferences

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

Living organisms Land Water air

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

Macroenvironment

Which cohort came of age during the Great Recession?

Millennials

Which generation consists mostly of the children of Baby Boomers?

Millennials (GEN Y)

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

Morals Customs Beliefs

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

Reducing food waste Opening grocery stores in food deserts

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 through Blank______.

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.

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

Their weaknesses Their likely response to marketing activities Their strengths

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

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

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

Translations Speech recognition Decision making

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

Washers and dryers Coffee machines Refrigerators

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

company capabilities, competitors, physical environment, and corporate partners

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

consumer

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

consumers

A smartphone manufacturer collaborates 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 Blank______ partner.

corporate

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

corporate partner

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

culture

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

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 Blank______ competencies.

existing

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

false

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

inflation

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

poltical/legal

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

sustainability

There is increasing concern that Blank______ 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 Blank______ across countries.

the same target market

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

their likely reaction