MKTG 361: CH 3 Learnsmart

Which two situations exemplify illegal situations under the Clayton Act?

- A powerful seller requiring all its distributors to only sell its products - A dominant seller imposing conditions such forcing the purchase of one product in order to buy another.

The FTC might issue a cease and desist order due to which two of the following practices?

- Advertising that misrepresents the actual features or benefits of a product - A retouched advertising that makes the product appear more pure than it actually is

Which two ethnic groups are expected to experience the largest population growth in the US by 2025?

- Asian - Hispanic

Which two of the following are the broad categories that should be considered when analyzing the economic component in an environmental scan?

- Macroeconomic conditions - consumer income

which two of the following laws forbid monopolies or other actions that cause restraint in trade

- The Sherman Antitrust Act - The Clayton Act

which of these are characteristics of Generation Y?

- The are attracted to purposeful work - They are passionate about the environment - They are interested in sustainability

The Generation Y cohort is also sometimes called which of two following?

- The baby boomlet - The echo-boomers

Disposable income is the money a consumer has

- after paying taxes - for necessities like food, housing, clothing, and transportation

What are some characteristics that describe generation x?

- born between 1965 and 1976 - supportive of racial and ethnic diversity

which of the following are likely consequences of a recession?

- businesses decrease production - unemployment rises

Which two things are indices of consumer expectations that are useful for understanding the state of the economy?

- consumer confidence index - index of consumer sentiment

Baby boomer would be least likely to purchase which of the following products or services?

- high-risk investments

which of the following family and living arrangements are increasing in the US?

- households with unmarried partners - households with an adult child living with parents

Which of the following are considered demographics?

- occupation and income - age and gender - ethnicity and race

In a competitive context, which of the following will increase the power of a firm's buyer in exchanges?

- there are relatively few buyer of the firm's product - there are low switching costs, so buyers can easily find another source

Culture is defined as a learned and shared set of which of these?

- values - ideas -attitudes

how do demographics play an important role when launching a new product?

1) a product may be targeted toward a specific age group or generational cohort 2) a product may be designed for a specific gender.

1) preserving the environment 2)marketing to children 3) social action 4) value consciousness

1) investing in phosphate-free laundry 2) banning the advertising of sugary cereals on Saturday mornings 3) a company donating a percentage of sales to cancer research. 4) holiday inn express offering a less expensive alternative to its regular hotels

1) oligopoly 2) pure monopoly 3) pure competition 4) Monopolistic competition

1) three internet providers with a combined 95 percent of market share 2) a power supplier company with no competitor 3) an avocado grower selling to several grocery chains 4) a candy bar manufacturer competing amongst a variety of similar brands

which of two of these approaches can be most useful when trying to reach the female market for a traditionally male- focused product

1. create products with fewer gender distinctions 2. engage female customers with special promotions.

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

1. prohibition of unsafe products 2. laws against false advertising

When Hallmark produces cards to give to a step-parent, it is marketing to what type of household?

Blended family

Which of the following environmental forces refers to alternative firms that could provide a product to satisfy a specific market's needs?

Competition

Existing rivalries

Competition is intense in the slow-growing breakfast cereal market.

Though a relatively smaller group, this group born between 1965 and 1976 has become a dominant force and the focus of marketers today

Generation X

Which of these generational cohorts represents the most recent period of increasing births?

Generation Y

Baby boomers, Generation X, and Generation Y are examples of what?

Gernerational cohorts

Smart grid electricity services and consumer-generated energy are examples of what type of technology?

Green technology

_______ are now the largest U.S minority group in terms of spending

Hispanics

Which of the following is a characteristic of Hispanics in the U.S population?

Hispanics spend approximately $1.3 trillion a year

________ is predicted to have the world's largest population by 2050

India

Which of the following is a new Census category that tracks the U.S. population?

Multiracials

Entry

Potential competitors find it difficult to recreate the wide distribution that Western union has for is money transfer services.

The Sherman Act exerts legal influence on which component of the marketing mix?

Price

The National Do Not Call Registry has most impact on what practice?

Telemarketing

Which of the following is true of unmarried partner households in the United States?

These are among the fastest-growing types of households

The household formed by divorced people who eventually remarry and merge two previously separated units into a single one is called a

a blended family

Which of the following is a major population shift happening now in the United States?

a regional shift toward southern and western states

a family's gross income is composed of

all the money earned by all family members in one year.

According to Census Bureau, a micropolitan statistical area will become a metropolitan statistical area when the urbanized area population reaches

at least 50,000

Capital requirements, advertising expenditures, distribution access, and switching costs for customers can all act as _______ in the competitive environment.

barriers to entry

demographics is a description of selected ______ of population

characteristics

The Sherman Antitrust Act and the Clayton Act were passed to protect

competition

economic

consumer income

The Consumer Product Safety Act and the resulting Consumer Product Safety Commission came about because of grassroots movement called

consumerism

Social

cultural changes

the demographic characteristics of a population and its _____ comprise the social forces in the environment

culture

The money ones has left from earnings after paying for taxes and necessities is called

discretionary income

The the money a consumer has after paying taxes is called

disposable income

Rates of unemployment and inflation, as well as consumer income levels, are ways that the healths of the _____ can be measured

economy

technological

electronic business technologies

Any activity that uses some form of electronic communication used in the inventory, exchange advertisement, distribution, or payment of goods is often called

electronic commerce

___________ scanning is the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

environmental

A good marketer can identify potential opportunities by paying close attention to environmental ____ it is important to continuously monitor the business environment in which a company operates

forces

competitive

forms of competiton

a consumer's _____ consists of gross, disposable, and discretionary components and it affect a consumer's ability to buy products and services

income

Power of buyers

it is easy and inexpensive for customers to switch to a different grocery store

It can be difficult to define discretionary verses disposable income because

it is hard to determine what is a luxury and what is a necessity

regulatory

laws affecting marketing mix actions

Developing marketing programs that reflect the unique aspect of different races is known as

multicultural marketing

Which of the following is a way that technology can improve existing products and the ways they are produced?

precycling

inflation may harm marketers when

prices rise faster than consumer incomes

Baby boomers are currently

reaching retirement age at a fast rate

When an industry attempts to police itself with guidelines for practice, this may help that industry to avoid government interference. This Idea is known as self- ___________.

regulation

An environmental scan will include ______ forces impacting a business by way of state and federal laws that may restrict its activities.

regulatory

When adjusted for inflation, gross income has been _____ since 1968.

relatively stable

recently, mobile phone makers have introduced phones with large easy-to-read buttons to tap into the growing markets of

seniors

the majority of the competitive landscape in this country is made up of

small businesses

the growing popularity and influence of video bloggers is an example of what type of environmental _______ force

social

While an intranet allows for communication within the boundaries of an organization, an extranet allows for communication with

suppliers and distributors

Consumers will make spending adjustments due to a direct change in disposable income when

taxes rise or fall faster than income

______ is an environmental force that involves developing applications from science or engineering research

technology

network of products embedded with connectivity-enabled electronics has come to be known as

the Internet of Things

The agency monitoring the American population profile is called

the U.S. Census Bureau

if the trends for men and women's attitudes and roles in the market place continue,

the buying patterns off both will eventually be very similar

An information- and communication-based electronic exchange environment occupied by computer technologies and digitized offerings is called

the market space

Legislation that allows a firm to protect its newly developed product from competition is called

the patent law

Legislation that allows companies to protect themselves from competitors copying their property includes both

the patent law and the copyright law

Power of suppliers

there is only a single producer for vital component in a cell phone.

Baby boomers have interest in financial planning because

they will all be 65 or older by 2030

The Lanham Act provides

this act provides for registration of a company's trademarks

An environmental scan may indicate that coffee manufactures, coffee retailers, and coffee distributors are likely to be affect by a downward

trend in coffee consumption

Using technology for the development of new products creates ______ for customers

value

_________ consciousness is the concern for obtaining the best quality, features, and performance of a product or service for a given price

value