Exam 3: Analyzing the Marketing Environment

Which of the following demographic trends is likely the most responsible for the increasing number of people who telecommute?

As a generational group,are the most affluent Americans.

Because of increasing _ ,Americans will demand higher quality products,books,magazines,travel,personal computers,and Internet services.

Refer to the scenario below to answer the following questions. Casey Brickly opened The Landing on the north shore of Witmer Lake in 1962.With a sandwich counter on one side and a bait shop and grocery on the other,The Landing was an immediate hit with weekend lake visitors and local residents alike.In the summer,boaters parked at the piers and bought all their lake needs-rods and reels,bait,fishing licenses,snacks,soft drinks-at The Landing.Even during the winter months,snowmobilers and ice fishermen were lured to The Landing for a snack and hot coffee or hot chocolate. As time passed,the business changed and grew tremendously.What was formerly a weekend tourist area gradually became a year- round residential area.Many of the houses,which were built as cottages in the 1950s and 1960s,were remodeled into year- round homes.By the end of the 1970s,the days of small motor boats and 10 mile- per- hour speed limits were gone;skiing and fast speed boats became all the rage.Through it all,The Landing continued to attract flocks of patrons. In the 1980s,however,Casey started to realize that the grocery area in The Landing could not compete with larger local retailers.He eventually enlarged the sandwich counter,transforming the bait shop and grocery into a restaurant with a full menu typical of any diner. "Getting rid of the bait shop was hard to do," Casey admitted."I still had a summer crowd that relied on us for their fishing needs,but we couldn't survive a whole year on four months of profit." In the early 2000s,the atmosphere of Witmer Lake and the neighboring lakes became upscale."I could see that people were spending more on their speed boats than what they had originally paid for their cottages!" Casey exclaimed.Many of the cottages were inherited by children and grandchildren of the original owners.Once again,the scene started to change as many of the lake houses were used only as weekend lake homes.Unlike the previous generation,a vast number of the current owners could afford to live closer to their jobs while maintaining lake homes."At this point,business wasn't growing," Casey said. As local competition continued to increase,Casey converted the diner atmosphere of The Landing into a bar with a lounge area."The change might have been too drastic," Casey said,"but it was the only way we could maintain a strong,year- round business in spite of the population shifts and competitive forces." -Which macroenvironmental force has benefitted The Landing the most?

Cause- related marketing is a slowing trend as companies have abused the practice,using it more to increase sales than to support worthwhile causes.

In the 1950s,the American population began shifting from large cities to .

You are directed to study the actors close to the company that affect its ability to serve its customers -departments within the company,suppliers,marketing intermediaries,customer markets,competitors,and publics.What are you studying?

Marketers should be aware of laws,government agencies,and pressure groups that influence or limit various organizations and individuals in a given society.This is most accurately described as the environment.

Which type of market buys goods and services for further processing or for use in the production process?

A country with a(n)_ _ economy has rich markets for many different kinds of goods.

The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the .

Chet Hoffman's chain of travel agencies has identified the lesbian,gay,bisexual,and transgender community as a growing market that spends an increasing percentage of its income on travel.Which of the following would be the LEAST effective component of a marketing plan for Chet to take advantage of this opportunity?

Who are the major players in a company's microenvironment? Explain the role each major actor plays.

A(n)is defined as any group that has an actual or potential interest in,or impact on,an organization's ability to achieve its objectives.

A radio station that carries news,features,and editorial opinions about your area is which type of public?

Business legislation has been created for three basic reasons: to protect companies from each other,to protect consumers,and to _.

Why is the technological environment such a dramatic force in today's market?

The youngest of the baby boomers are now in their .

Which country leads the world in research and development spending?

Why might marketers want to target segments of the population based on lifestyles rather than age groups?