Smart Book Chapter 5
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
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
The most important immediate environmental factors that impact consumers are the ______.
Company capabilities, competitors, physical environment, and corporate partners
Which of these is NOT a macroenvironmental factor that directly influences a firm?
Competition
At the center of all analyses of the marketing environment is the and his or her specific behavior and attitudes.
Consumers
When launching a new clothing line, a company must focus primarily on the needs and wants of ______.
Consumers
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. Multiple choice question.
Corporate
If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ______.
Corporate Partner
Which of the following are factors that affect consumers' immediate environment? (Check all that apply.)
Corporate partners Competitors Company capabilities
is defined as the shared meanings, beliefs, morals, values, and customs of a group of people.
Culture
An example of inflation would be when increasing prices cause the purchasing power of the dollar to ______.
Decline
Which of the following services do the robots entering the marketplace provide? (Check all that apply.)
Delivering goods via driverless cars Filling orders Counting cash
Data that indicates the characteristics of human populations and segments is known as ______.
Demographics
are characteristics of human populations such as gender and race.
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 ______ competencies.
Existing
True or False: Customers generally prefer talking to a salesperson when they need information over searching on the Internet.
False
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 is the generational cohort that consists of people born between 1965 and 1980?
Generation X
What are Digital Natives also called?
Generation Z
Consumers in a cohort are a group of people in the same generation who tend to have similar buying behaviors.
Generational
What is the name for a group of individuals who are of the same generation?
Generational cohort
Gretchen lives in the United States and is going on vacation to Australia. She wants to go when it makes the most economic sense for her. Which of the following would be the best time for Gretchen to go? Multiple choice question.
Gretchen should go when the US dollar is strong and Australian currency is weak.
Which income groups' purchasing power is growing relative to other income groups?
Highest-income groups
Which of the following can help predict consumer buying patterns? (Check all that apply.)
Income earned Education attained
What are possible reasons for the increase in wealthy families? (Choose every correct answer.)
Increase in dual-income households Aging of the general population
Refers to an increase in the prices of goods and services and a decline in purchasing power.
Inflation
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 considered aspects of the physical environment? (Choose every correct answer.)
Land Water Living organisms
What are some components of a country's culture? (Choose every correct answer.)
Language differences Food preferences
Which goods and services are most likely to suffer a downturn when interest rates rise?
Luxury cars
Which word best describes the social, political, economic, and technological factors with which marketers interact?
Macroenvironment
Which generation consists mostly of the children of Baby Boomers?
Millenials
Which cohort came of age during the Great Recession?
Millennials
Which of the following are components of culture? (Choose every correct answer.)
Morals Customs Beliefs
The political/legal environment consists of which of the following? (Choose every correct answer.)
Political parties Laws and legislation
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
Which items could be included in the Internet of Things? (Choose every correct answer.)
Refrigerators Coffee machines Washers and dryers
are increasingly performing work, like filling orders, that humans used to do.
Robots
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 analysis
What tasks are firms increasingly using artificial intelligence (AI) to complete? (Choose every correct answer.)
Speech recognition Translations Decision making
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. Multiple choice question.
Sustainability
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
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.
When developing marketing plans, what should a firm consider about their competition?
Their likely reaction
What must marketers understand about their competition? (Choose every correct answer.)
Their strengths Their likely response to marketing activities Their weaknesses
Which of the following are reasons marketers are increasingly embracing gender neutrality? (Check all that apply.)
There are shifts in status, attitudes, and behaviors of women that affect the way many firms need to design and promote their products and services. Gender roles are no longer as distinct as they once were.
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.
The Internet of occurs when there are numerous "smart devices" that work together to help both consumers and companies consume more efficiently
Things
True or False: Marketers use mobile devices and apps to improve the consumer experience by offering convenience and information.
True
Members of Generation have never known a time without the Internet and electronic gadgets.
Z