ch 3

Which ethnic group's US population is expected increase to 24 million by 2030?

Asian

What two statements are characteristic of divorce in today's American household?

Gray divorce is the term used to describe divorce among baby boomers. The increase in cohabitation may be a contributing factor to declining divorce rates.

________, who may be from any race, currently make up 17% of the US population.

Hispanics

The act that makes it unlawful to discriminate in prices charged to different purchasers of the same product is called ______.

Robinson-Patman Act

Which two laws forbid monopolies or other actions that cause restraint in trade?

The Clayton Act The Sherman Antitrust Act

Select the three characteristics that are representative of Generation Z.

They are financially responsible. They are hardworking multitaskers. They discover and learn online.

Select the two characteristics that are describe the buying behavior of Generation Z.

They will pay more for a product if it promotes an environmental or social justice issue. They tend to find out about products through social media.

a regional shift toward northern and eastern states

a regional shift toward southern and western states

What are the newest forms of technological changes that are occurring now? (Select all that apply)

biotechnology blockchain wearable technology

The presence of a stepparent or stepchildren indicate what type of household?

blended

Increase in creating ongoing relationships with customers to outperform rivals

competitive

rivalries and substitutions

competitive

When marketers shift their focus from single transactions to creating ongoing relationships through high-engagement, experiential, customer journeys it is an example of a ______.

competitive force

The demographic characteristics of a population and its ______ comprise the social forces in the environment.

culture

What social force incorporates the set of values, ideas, and attitudes that are learned and shared among the members of a group?

culture

Social forces include _________ characteristics of the population and its culture.

demographic

The term ________ indicates the characteristics of human populations and segments, especially those used to identify consumer markets.

demographics

Legislation for copyright protection was enhanced in 1998 to include ______.

digital works, including music and movies

The Generation Y cohort is also referred to as the ______.

echo-boomers

consumer income

economic

When scanning the environment for trends, a company typically gathers information from five sources. Select three of those sources from the following list.

economic social regulatory

The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called ______.

environment scanning

Select three commonly held values for today's consumers.

equality personal control self-help

Which two items are common demographic measures?

ethnicity age

Companies will need to adapt in order to reach consumers that belong to Generation X. What are three business tactics that would most appeal to Generation X consumers?

having websites that are interactive offering online customer support developing authentic, family-oriented advertising

According to the most recent Census Bureau estimates, _______ is the state whose population declined at the greatest rate.

illinois

What two reasons does your text cite as contributors to the increase in divorce among baby boomers?

increased longevity increased economic independence

Which two of the following are macroeconomic factors?

inflation gross domestic product

Environmental scanning is necessary for an organization to ______.

interpret trends that may be a source of opportunity

What two actions can the FTC take regarding deceptive or misleading advertising and unfair business practices?

issue a cease and desist order order corrective advertising

Select three characteristics that describe Generation X?

often called the "baby bust" generation born between 1965 and 1980 supportive of racial and ethnic diversity

A ________ is described with demographics.

population

Increasing political pressure for social media platforms to deter fraud and "fake" news

regulatory

laws affecting marketing mix actions

regulatory

Recently, mobile phone makers have introduced phones with large easy-to-read buttons to tap into the growing market of ________.

seniors

Increasing expectation for companies to be transparent and authentic

social

cultural changes

social

Select three components of the competitive environment.

substitution possibilities bargaining power of buyers and suppliers existing rivalries

The Fourth Industrial Revolution

technological

electronic business technologies

technological

Select the four issues related to distribution that are monitored by the government.

tying arrangements requirement contracts exclusive territorial distributorships exclusive dealings