MARKETING UNIT 2
What is the average yearly income for young adults with a bachelor's degree in the United States?
$50,000
How might demographics affect the launching of a new product?
A product may be targeted toward a specific age group or generational cohort. A product may be targeted toward people of a certain income level.
What are some characteristics of Generation X?
Born between 1965 and 1976 Represent 41 million Americans Considered latchkey children
Which of the following are reasons marketers are increasingly embracing gender neutrality?
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.
The International Fairtrade Certification Mark is granted to products that do which of the following?
Improve environmental standards for producers Promote sustainable farming
What are possible reasons for the increase in wealthy families?
Increase in dual-income households Aging of the general population
From a marketing perspective, focusing on mobile devices accomplishes what?
It makes it more likely that a consumer will spend more at a retailer.
Which of the following are among the major macroenvironmental factors?
Political/legal (regulatory) factors Social factors Cultural factors
What are current trends in food marketing and distribution?
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 ______.
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.
Which of the following are true of Baby Boomers?
They are born between 1946 and 1964. They will be the largest population of 50-plus consumers the United States has ever seen.
Consumers' needs and wants, as well as their ability to purchase, depend on
a host of factors that change and evolve over time.
Sarah, who lives in Boston, refers to Pepsi as "tonic," while Kent, who lives in Chicago, calls it "pop." This is an example of
a regional culture difference that marketers must consider.
Demographic profiles of customers provide
an easily understood "snapshot" of the typical consumer in a specific target market.
Members of Generation Y are the children of
baby boomers
The 78 million Americans born between 1946 and 1964 are referred to as _______.
baby boomers
Which generational cohort was born between 1946 and 1964?
baby boomers
Fast food restaurants no longer use cartoon characters to promote products such as burgers and fries
because new advertising guidelines do not allow linking unhealthy foods with cartoon characters and celebrity figures.
Which of the following are components of culture?
beliefs, morals, customs
When were Millennials born?
between 1977 and 2000
The primary strength of Pepsi is the manufacturing, distribution, and promotion of carbonated beverages. These describe which factor of a Pepsi consumers' immediate environment?
company capabilities
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
So its customers would not be lured by its competitors, Wendy's decided to offer a 99-cent value menu to compete with the value menus offered at Burger King and McDonald's. This is an example of which element of the immediate environment?
competition
Which of these is NOT a macroenvironmental factor that directly influences a firm?
competition
Which of the following is NOT considered a macroenvironmental factor?
competitors
In all marketing efforts, the _____ is at the center.
consumer
The ________ is the center of all marketing strategies.
consumer
At the center of all analyses of the marketing environment are __________ and their specific behaviors and attitudes
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 ______ partner.
corporate
Which of the following are factors that affect consumers' immediate environment?
corporate parters, company capabilities, and competitors
If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ______.
corporate partner
When firms such as Walmart and Proctor & Gamble work together, it can increase efficiencies for both companies, leading to more satisfied customers and higher corporate profits. This reflects which element of the marketing environment?
corporate partners
If your family shares a tradition of getting together on New Year's Day, then this is part of your _____.
culture
_______ refers to the shared meanings, beliefs, morals, values, and customs of a group of people.
culture
___________ 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 ______.
demographics
Income, age, gender and race are all elements of which macroenvironmental factor?
demographics
_____________ are characteristics of human populations such as gender and race.
demographics
Swanson Hair Company keeps track of the gender and age of its customers so it can target e-mails to them and be sure to have the right hair products in stock when they visit. This is an example of the use of
demographics in marketing.
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
true or false? A marketer's main focus should be on developing universal products or services that can be identifiable by and relevant to all groups of people.
false
true or false? Applying age as a basis to identify customers is always unethical, as it involves stereotyping.
false
true or false? As the euro becomes more expensive relative to the dollar, Americans are likely to purchase more European wines.
false
true or false? Fast food restaurants no longer use cartoon characters to promote products because the characters do not retain popularity among young children for very long.
false
true or false? Generation X is the biggest cohort since the original postwar World War II boom.
false
true or false? Green marketing was more common in the United States when agricultural products were the largest source of income.
false
true or false? In the immediate environment, the competition has no effect on consumers.
false
true or false? The macroenvironmental factors that marketers must consider are the company, competition, and corporate partners.
false
true or false? The three elements of the consumer's immediate environment are the company, competition, and fellow consumers.
false
true or false? When analyzing the immediate environment and the macroenvironment, marketers must be careful to keep the firm at the center of all analyses.
false
A food shortage ______________ refers to an area or neighborhood where there is limited or no access to healthy, affordable fresh food options.
food desert
What are some components of a country's culture?
food preferences and language differences
Which of the following is the generational cohort that consists of people born between 1965 and 1976?
generation X
Which is the largest generational cohort since the Baby Boomers?
generation Y
Members of ______ have never known a time without the Internet and electronic gadgets.
generation Z
Which of the following groups is considered to be the first generation of latchkey children and 50 percent of them have divorced parents?
generation x
Groups of people who have similar purchase behaviors because they have shared experiences and are in the same stage of life are often referred to as ______.
generational cohorts
Consumer desires for environmentally friendly products and services has led to ______ marketing.
green
Which of the following is NOT considered a generational cohort?
green consumers
When companies ensure that all 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
_______ involves a strategic effort by firms to supply customers with environmentally friendly merchandise.
green marketing
Which term 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 to boost sales but does not actually have the goal of improving the environment.
greenwashing
Which of the following products has been successfully targeted to consumers with health and wellness concerns?
hand sanitizer
Increasing sales of yoga equipment have resulted in part from which social trend?
health and wellness concerns
The appearance of mobile apps that track consumers' exercise, calorie intake, and sleep cycles are the result of ______.
health and wellness concerns
Which income groups' purchasing power is growing relative to other income groups?
highest income groups
A company's capabilities, competitors, competitive intelligence, and corporate partners are factors that affect the consumers' ________.
immediate environment
Which of the following demographic factors help predict consumer buying patterns?
income earned and education attained
How can culture be transmitted?
institutions, words, and literature
Which of the following are considered aspects of the physical environment?
land, water, air, living organisms
Roughly 80% of population growth over the next two decades in the United States is projected to come from a combination of which of the following groups?
latinx, asian, african americanws
Which word best describes the social, political, economic, and technological factors with which marketers interact?
macroenvironment
Corporate partners work with a focal company to
make and supply products and services to consumers.
Which generation consists mostly of the children of Baby Boomers?
millennials
By the year 2055, which group is expected to remain an ethnic minority in the United States?
no single group
The recent financial and healthcare reform bills provide examples of how marketing can be impacted by which macroenvironmental factor?
political/regulatory environment
The 1890 Sherman Antitrust Act
prohibits monopolies and other activities that would restrain trade or competition and makes fair trade within a free market a national goal.
A national fast-food chain that meets local demand by offering one type of food in one part of the country and an entirely different menu item in another part of the country is an example of catering to ______ culture.
regional
______ culture is exemplified by the ways people within a particular geographic area have different food preferences from people in other areas of the same country.
regional
People are influenced by the world around them; understanding _______ such as health, and privacy concerns is vital to how a marketing firm crafts its messages and introduces products to the consumer.
social trends
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
The ability of marketers to use mobile applications, Facebook, and Twitter to more effectively target and reach their customers is an example of which macroenvironmental factor?
technological advances
Macroenvironmental factors include all of the following elements EXCEPT ______.
the company CEO
Inflation refers to
the persistent increase in the prices of goods and services which causes the purchasing power of the dollar to decline.
There is increasing concern that _____ 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 ______ across countries.
the same target market
When developing marketing plans, what should a firm consider about their competition?
their likely reaction
What must marketers understand about their competition?
their strengths, weaknesses, and their likely response to marketing activities
People participate in many cultures, which makes it more important for marketers
to have products or services that can relate to more than one particular group.
True or False: Marketers use mobile devices and apps to improve the consumer experience by offering convenience and information.
true
True or false: The first factor in the immediate environment that affects the consumer is the firm itself.
true
true or false? By paying close attention to customer needs and continuously monitoring the business environment in which it operates, a good marketer can identify potential opportunities.
true
true or false? Firms that disingenuously market products or services as environmentally friendly, with the goal of gaining public approval and sales rather than improving the environment, are engaging in greenwashing.
true
true or false? The marketing firm must consider the entire business process, all from a consumer's point of view.
true
Which of the following services do the robots entering the marketplace provide?
Counting cash Delivering goods via driverless cars Filling orders
The members of Generation Z are also referred to as
Digital Natives
