Exam 4: The Marketing Environment

The first stage of the environmental scanning process is:

The competitive environment in the hospitality industry is ________.

The restaurant industry is characterized by a ________ barrier to entry.

Good marketers have two methods - marketing intelligence and marketing research - for collecting information about the environment.

When analyzing the competition, a question put to customers might be "Name the company from whom you would prefer to buy the product." In this case you are looking for:

________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

The hotel industry in general has a ________ barrier to entry.

Distinguish among the five types of customer markets.

Which of the following is NOT a type of micro-environment?

Today's baby boomers spend about $________ trillion annually.

Each society contains ________, groups of people with shared value systems based on common life experiences or situations.

Differentiate between the basic marketing intermediaries.

Which of the following are NOT an example of a financial intermediary?

The ________ environment includes institutions that affect society's basic values, perceptions, preferences and behaviors.

Marketing services agencies include banks and credit companies that help hospitality companies finance their transactions.

There is no underclass in the United States.

Which of the following is NOT a general trend in the United States?

MADD (Mothers Against Drunk Driving) has had a considerable impact on the hospitality industry's approach to serving alcohol.

Defining people by their birthrate may be less valuable to marketers than defining them by their life stage or lifestyle.

Today's baby boomers account for nearly ________ percent of the population.