Question 1

Which generational cohort is often referred to as the echo-boom? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Accepted Answer

The generational cohort labeled Generati...

Question 2

The Better Business Bureau (BBB)  tries to use ________ to get its members to comply with its standards of business conduct.

Accepted Answer

A)   the FTC
B)   industry trade associations
C)   moral suasion
D)   the courts
E)   competitorsF) D) and E)
G) A) and C)

Question 3

Generation X

Accepted Answer

A)   is the least healthy generation since the 1940s.
B)   accounts for the smallest percentage of consumer spending among the cohorts.
C)   spends the most on online shopping.
D)   is notable for its interest in distinctive, memorable, and personal experiences.
E)   is a label often used synonymously with the term "millennials."F) C) and D)
G) None of the above

Question 4

Recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of radio frequency (RFID)  tags that are currently used in industry. This is an example of how ________ forces are applied to industry.

Accepted Answer

A)   ecological
B)   regulatory
C)   technological
D)   competitive
E)   marketing mixF) A) and C)
G) B) and E)

Question 5

A statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration is referred to as a

Accepted Answer

A)   micropolitan statistical area.
B)   metropolitan statistical area.
C)   downtown statistical area.
D)   zip code.
E)   combined statistical area.F) A) and D)
G) All of the above

Question 6

Over the past decade the number of people who attended music concerts, plays, and other live entertainment increased because they had the ________ to enjoy these activities.

Accepted Answer

A)   gross income
B)   bonus income
C)   profit
D)   disposable income
E)   discretionary incomeF) B) and E)
G) A) and B)

Question 7

Leigh and Rob prepared a household budget in an attempt to manage their money better. They prepared the following list: Monthly income (after taxes)  = $4,500; Monthly expenses (necessities) , which include rent, $550; auto loan, $250; student loan, $200; savings, $500; food, $200 = $1,700; Amount left over = $2,800 (income less necessary expenses) . The remaining $2,800 is their

Accepted Answer

A)   gross income.
B)   personal income.
C)   disposable income.
D)   discretionary income.
E)   profit.F) A) and B)
G) C) and D)

Question 8

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as

Accepted Answer

A)   net income.
B)   disposable income.
C)   discretionary income.
D)   household income.
E)   gross income.F) A) and E)
G) B) and E)

Question 9

As the director of marketing for a local hospital that specializes in caring for limited mobility patients and related health issues, you must conduct an environmental scan to help create a five-year marketing plan for the hospital. Which of the following environmental trends should you consider to be the most important?

Accepted Answer

A)   The number of people in the geographic area who are 65 years or older will increase by 23 percent during the next five years.
B)   Millennials are becoming increasingly important in the workplace.
C)   The local community has seen a rise in dual-income households.
D)   By the year 2025, robotics will play a major role in surgical procedures.
E)   Twenty percent of the local population is of Hispanic origin, but that number is expected to grow during the next decade.F) A) and C)
G) A) and E)

Question 10

If taxes rise at a faster rate than incomes, consumers will

Accepted Answer

A)   have less disposable income and try to economize.
B)   feel more confident in the government and therefore spend more money.
C)   use cash for purchases such as a vacation.
D)   recognize that it is the perfect opportunity to buy a car or other expensive products on credit.
E)   react by voting for all incumbent members of Congress.F) C) and D)
G) A) and D)

Question 11

During a recessionary period, which of the following economic behaviors would be expected?

Accepted Answer

A)   Consumer spending would increase.
B)   The use of credit would decline.
C)   Taxes would increase nationally.
D)   Property values would jump dramatically.
E)   Consumers would use the majority of their discretionary income on groceries.F) A) and E)
G) A) and D)

Question 12

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones such as misleading promotions?

Accepted Answer

A)   Robinson-Patman Act
B)   Consumer Product Safety Act
C)   Lanham Act
D)   Federal Trade Commission Act
E)   Fair Packaging and Labeling ActF) A) and C)
G) C) and E)

Question 13

Disposable income refers to

Accepted Answer

A)   the money that remains before paying for taxes and necessities.
B)   the money deducted from a person's paycheck to pay for federal, state, and local taxes.
C)   the total amount of money made by a single individual during his or her lifetime.
D)   the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation.
E)   the money that is spent for necessities or charitable causes that is exempt from taxation.F) B) and C)
G) All of the above

Question 14

The change in the growth of the world's population is called the

Accepted Answer

A)   population contraction.
B)   population inversion.
C)   population migration.
D)   population explosion.
E)   population eruption.F) A) and E)
G) A) and C)

Question 15

One of the problems associated with self-regulation is

Accepted Answer

A)   the lack of a written code of ethics by firms in the industry.
B)   the intrusive enforcement by the FTC.
C)   the opportunity corporate for espionage by competitors.
D)   the absence of an industry association with persuasive power.
E)   enforcement.F) A) and E)
G) A) and D)

Question 16

By 2030, the U.S. population is expected to exceed

Accepted Answer

A)   173 million.
B)   224 million.
C)   293 million.
D)   355 million.
E)   414 million.F) C) and D)
G) None of the above

Question 17

Volkswagen opened a large plant in Chattanooga, TN, in 2011. Within a few years, VW spurred more than 12,400 direct and indirect jobs in the area. The carmaker generates income of over $600 million there annually and boosts state and local tax revenues by over $50 million a year. A huge expansion was announced in 2016 that would nearly double its operations in Tennessee. This example best illustrates __________ change that has impacted the people and businesses of Chattanooga.

Accepted Answer

A)   a regulatory
B)   a competitive
C)   an economic
D)   a social
E)   a technologicalF) D) and E)
G) A) and C)

Question 18

Explain marketspace and electronic commerce and their relevance for marketing.

Accepted Answer

Technology has also had a dramatic impac...

Question 19

Publishers were surprised by the dramatic success of the book Fifty Shades of Gray and believe that it would likely generate a fresh cycle of female-targeted romances packaged for the mainstream reader. This is an example of a(n)  ________ force impacting the marketing environment.

Accepted Answer

A)   economic
B)   competitive
C)   technological
D)   social
E)   regulatoryF) D) and E)
G) A) and B)

Question 20

Demographics refer to

Accepted Answer

A)   the depiction of a population according to its core values or cultural beliefs and their rate of change.
B)   an objective measurement of a person's likelihood to purchase a product or service.
C)   the psychological profile of prospective consumers.
D)   the density of a population in a geographic area.
E)   the description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation.F) A) and E)
G) A) and D)

Exam 3: Scanning the Marketing Environment

The Better Business Bureau (BBB) tries to use ________ to get its members to comply with its standards of business conduct.

Correct Answer
verified

Demographics refer to

Correct Answer
verified

Correct Answer
verified

If taxes rise at a faster rate than incomes, consumers will

Correct Answer
verified

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as

Correct Answer
verified

During a recessionary period, which of the following economic behaviors would be expected?

Correct Answer
verified

Correct Answer
verified

A statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration is referred to as a

Correct Answer
verified

Correct Answer
verified

Explain marketspace and electronic commerce and their relevance for marketing.

Correct Answer
verified
Technology has also had a dramatic impac...
View Answer

Disposable income refers to

Correct Answer
verified

One of the problems associated with self-regulation is

Correct Answer
verified

The change in the growth of the world's population is called the

Correct Answer
verified

Which generational cohort is often referred to as the echo-boom? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Correct Answer
verified
The generational cohort labeled Generati...
View Answer

Publishers were surprised by the dramatic success of the book Fifty Shades of Gray and believe that it would likely generate a fresh cycle of female-targeted romances packaged for the mainstream reader. This is an example of a(n) ________ force impacting the marketing environment.

Correct Answer
verified

By 2030, the U.S. population is expected to exceed

Correct Answer
verified

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones such as misleading promotions?

Correct Answer
verified

Over the past decade the number of people who attended music concerts, plays, and other live entertainment increased because they had the ________ to enjoy these activities.

Correct Answer
verified

Generation X

Correct Answer
verified

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

The Better Business Bureau (BBB) tries to use ________ to get its members to comply with its standards of business conduct.

Correct AnswerverifiedShow Answer

Demographics refer to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If taxes rise at a faster rate than incomes, consumers will

Correct AnswerverifiedShow Answer

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as

Correct AnswerverifiedShow Answer

During a recessionary period, which of the following economic behaviors would be expected?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration is referred to as a

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Explain marketspace and electronic commerce and their relevance for marketing.

Correct AnswerverifiedTechnology has also had a dramatic impac...View AnswerShow Answer

Disposable income refers to

Correct AnswerverifiedShow Answer

One of the problems associated with self-regulation is

Correct AnswerverifiedShow Answer

The change in the growth of the world's population is called the

Correct AnswerverifiedShow Answer

Which generational cohort is often referred to as the echo-boom? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Correct AnswerverifiedThe generational cohort labeled Generati...View AnswerShow Answer

Publishers were surprised by the dramatic success of the book Fifty Shades of Gray and believe that it would likely generate a fresh cycle of female-targeted romances packaged for the mainstream reader. This is an example of a(n) ________ force impacting the marketing environment.

Correct AnswerverifiedShow Answer

By 2030, the U.S. population is expected to exceed

Correct AnswerverifiedShow Answer

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones such as misleading promotions?

Correct AnswerverifiedShow Answer

Over the past decade the number of people who attended music concerts, plays, and other live entertainment increased because they had the ________ to enjoy these activities.

Correct AnswerverifiedShow Answer

Generation X

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Technology has also had a dramatic impac...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The generational cohort labeled Generati...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified