Chapter 4: Analyzing the Market Environment

What are the immediate environmental factors that impact consumers?

-corporate partners -the competitors -the company

Having a broad range in incomes creates marketing opportunities at the:

-high end of the market -low end of the market

The theft of customer information from online FitBit accounts (including GPS history, running routes, and sleep history) is an example of ___.

A privacy concern

How might demographics affect the launching of a new product?

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

What are possible reasons for the growth of incomes among the wealthiest families in the United States?

Aging of the general population Increase in dual-income households

Which generational cohort was born between 1946 and 1964?

Baby boomers

What are some characteristics that describe Generation X?

Born between 1965 and 1976 Latchkey children

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

Competition

In the immediate environment it is critical that marketers understand their firm's ___ including their strengths, weaknesses, and likely reactions to the marketing activities that their own firm undertakes.

Competitors

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

Culture

Data that provides statistical information about the population and the various groups within the population is known as ___.

Demographics

When tourists (like the ones shown here) visit and shop in other countries because the value of the tourists' home currency is stronger, this is results from a favorable ___ rate.

Exchange

What are some components of a country's culture?

Food preferences Language differences

Which is the largest generational cohort since the baby boomers?

Gen Y

When companies ensure that all packaging has symbols, such as the recycle symbol or symbols showing that they support wind energy, this is a strategic effort by the company to show that they are involved in ___.

Green Marketing

New advertising guidelines that require marketers to provide more detailed nutritional information for advertising food items are the result of ___.

Health and wellness concerns

Which of the following industries is most likely to suffer a downturn when interest rates rise?

High-end jewelry stores Luxury automobiles

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

Highest-income group

Roughly 80% of the population growth over the next two decades in the United States is projected to come from a combination of which of the following groups?

Hispanics African Americans Asians

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

Immediate environment

The political/legal environment consists of which of the following?

Laws and legislation Political parties

Which of the following statements about gender and promoting goods and services is true?

More firms today attempt to transcend gender boundaries.

Which of the following are examples of government legislation designed to protect the consumer?

Product safety standards Prohibition of false advertising

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

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

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

Macroenvironmental factors include all of the following elements EXCEPT ___.

The CEO's behavior

True or false: currently firms have the technology to track an item from the moment it is manufactured until it is in the hands of the consumer.

True

When developing marketing plans, a firm should consider which of the following things about its competitors?

Weakness of the firm Likely reactions to the firm's plans Strengths of the firm

Which of the following services help consumers have constant access to the internet?

WiFi LTE Mobile Hotspots

Generation ____ was born into a world full of electronic gadgets and digital technologies, including social networks.

Z

Consumers in a generational ___ are a group of people of the same generation having similar purchase behaviors because they have shared experiences and are in the same stage of life.

cohort

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

competencies

At the center of all analysis of the marketing environment is the _____ and his specific behavior and attitudes.

consumer

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

culture

Which of the following demographic factors can help to predict consumer buying patterns?

income earned education attained Occupation

____ refers to the persistent increase in the prices of goods and services.

inflation

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

the same target market

One of the goals of ____ marketing is to provide a greater benefit relative to the cost to consumers than competitors offer.

value-based