Question 1

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

Accepted Answer

A)  marketspace. 
B)  the extranet. 
C)  the Internet of Things. 
D)  the cloud. 
E)  universal connection. 
A)  marketspace. 
B)  the extranet. 
C)  the Internet of Things. 
D)  the cloud. 
E)  universal connection.

Question 2

Of the following, which racial or ethnic group has the greatest economic impact in the United States in terms of their buying power?

Accepted Answer

A)  Asian Americans 
B)  Hispanics 
C)  African Americans 
D)  Native American and other native populations 
E)  Indian immigrants (from India) 
A)  Asian Americans 
B)  Hispanics 
C)  African Americans 
D)  Native American and other native populations 
E)  Indian immigrants (from India)

Question 3

Exurbs are

Accepted Answer

A)  statistical areas of at least 50,000 or more people. 
B)  remote suburbs. 
C)  statistical areas of at least 10,000 but less than 50,000 people. 
D)  statistical areas that contains a population of 2.5 million or more. 
E)  the combination of metropolitan statistical areas and micropolitan statistical areas. 
A)  statistical areas of at least 50,000 or more people. 
B)  remote suburbs. 
C)  statistical areas of at least 10,000 but less than 50,000 people. 
D)  statistical areas that contains a population of 2.5 million or more. 
E)  the combination of metropolitan statistical areas and micropolitan statistical areas.

Question 4

Which of the following statements about the American household is most accurate?

Accepted Answer

A)  The structure of the American household has not changed significantly since 1960. 
B)  With a drop in the divorce rate, almost 58 percent of households today are married couples with children. 
C)  The number of households with working fathers and "stay-at-home" moms has recently begun to increase again and makes up almost 25 percent of all American households. 
D)  One of the fastest-growing types of households are those with an adult child who has moved back home with his or her parents. 
E)  The percentage of households with married couples has increased from 50 percent in 1960 to 75 percent today. 
A)  The structure of the American household has not changed significantly since 1960. 
B)  With a drop in the divorce rate, almost 58 percent of households today are married couples with children. 
C)  The number of households with working fathers and "stay-at-home" moms has recently begun to increase again and makes up almost 25 percent of all American households. 
D)  One of the fastest-growing types of households are those with an adult child who has moved back home with his or her parents. 
E)  The percentage of households with married couples has increased from 50 percent in 1960 to 75 percent today.

Question 5

Culture refers to the

Accepted Answer

A)  moral and ethical beliefs of a family passed down from generation to generation. 
B)  set of values, ideas, and attitudes that are learned and shared among the members of a group. 
C)  pastimes associated with the fine arts, such as ballet, music, and theater. 
D)  standard or pattern of behaviors that is typical or expected of a group. 
E)  description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation. 
A)  moral and ethical beliefs of a family passed down from generation to generation. 
B)  set of values, ideas, and attitudes that are learned and shared among the members of a group. 
C)  pastimes associated with the fine arts, such as ballet, music, and theater. 
D)  standard or pattern of behaviors that is typical or expected of a group. 
E)  description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation.

Question 6

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of a(n)

Accepted Answer

A)  an oligopoly. 
B)  a conglomerate. 
C)  a pure monopoly. 
D)  pure competition. 
E)  monopolistic competition. 
A)  an oligopoly. 
B)  a conglomerate. 
C)  a pure monopoly. 
D)  pure competition. 
E)  monopolistic competition.

Question 7

Recognized for excellence by Advertising Age, The Community is a global agency of people with diverse backgrounds with a mission "to create culturally-potent ideas for a multi-everything world."The Community has created Hispanic-American campaigns Domino's Pizza, Ferrero Rocher, Verizon, Coca-Cola, and Google as a part of their programs incorporating

Accepted Answer

A)  psychographic differences. 
B)  population inputs. 
C)  multicultural marketing. 
D)  a value consciousness. 
E)  macroeconomics. 
A)  psychographic differences. 
B)  population inputs. 
C)  multicultural marketing. 
D)  a value consciousness. 
E)  macroeconomics.

Question 8

Walmart purchased online retailer Jet.com for $3.3 billion to complement its existing e-commerce offering and offer lower prices and a broader assortment of products to customers who shop for bargains online in response to customers'

Accepted Answer

A)  changing values. 
B)  changing population composition. 
C)  changing demographics. 
D)  changing regulatory forces. 
E)  changing ethnic composition. 
A)  changing values. 
B)  changing population composition. 
C)  changing demographics. 
D)  changing regulatory forces. 
E)  changing ethnic composition.

Question 9

Today, 7 of the top 10 most populous cities in the United States are located

Accepted Answer

A)  along the east coast. 
B)  near the Canadian border. 
C)  along the west coast. 
D)  in states that border Mexico. 
E)  within the central Midwest. 
A)  along the east coast. 
B)  near the Canadian border. 
C)  along the west coast. 
D)  in states that border Mexico. 
E)  within the central Midwest.

Question 10

Members of Generation Y are likely to have the greatest amount of influence on which of the following product categories?

Accepted Answer

A)  luxury travel 
B)  health care and insurance 
C)  retirement plans 
D)  sports 
E)  automobile design 
A)  luxury travel 
B)  health care and insurance 
C)  retirement plans 
D)  sports 
E)  automobile design

Question 11

A major regional shift in the U.S. population toward the ________ states is under way.

Accepted Answer

A)  eastern 
B)  west coast 
C)  northern 
D)  midwestern 
E)  southern and western 
A)  eastern 
B)  west coast 
C)  northern 
D)  midwestern 
E)  southern and western

Question 12

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how ________ forces help improve or replace existing products and companies.

Accepted Answer

A)  ecological 
B)  regulatory 
C)  technological 
D)  competitive 
E)  marketing mix 
A)  ecological 
B)  regulatory 
C)  technological 
D)  competitive 
E)  marketing mix

Question 13

Generation Y is sometimes referred to as

Accepted Answer

A)  the echo-boom. 
B)  baby boomers. 
C)  baby busters. 
D)  the revolution generation. 
E)  Generation Aught. 
A)  the echo-boom. 
B)  baby boomers. 
C)  baby busters. 
D)  the revolution generation. 
E)  Generation Aught.

Question 14

The Department of Labor monitors consumer expenditures through its annual Consumer Expenditure Survey. In the most recent report, consumers spent the largest proportion of their income on which of these?

Accepted Answer

A)  education 
B)  housing 
C)  vacations 
D)  entertainment 
E)  investments 
A)  education 
B)  housing 
C)  vacations 
D)  entertainment 
E)  investments

Question 15

The portion of one's income that remains after paying for taxes and necessities is referred to as

Accepted Answer

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

Question 16

An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by

Accepted Answer

A)  the increased sales of Cigar Aficionado magazine. 
B)  the introduction of Snickers Maple Almond Butter candy bar. 
C)  the opening of more Starbucks coffee boutiques in supermarkets. 
D)  the upsizing of menu items at fast-food restaurants. 
E)  the introduction of fitness trackers such as the Fitbit. 
A)  the increased sales of Cigar Aficionado magazine. 
B)  the introduction of Snickers Maple Almond Butter candy bar. 
C)  the opening of more Starbucks coffee boutiques in supermarkets. 
D)  the upsizing of menu items at fast-food restaurants. 
E)  the introduction of fitness trackers such as the Fitbit.

Question 17

One population trend shows young professionals and active retirees moving to ________ communities that offer amenities such as equestrian centers, car clubs with race tracks, vineyards, and even "agrihoods" built around community-based farms.

Accepted Answer

A)  exurban 
B)  rural 
C)  in-home residential 
D)  suburban 
E)  urban 
A)  exurban 
B)  rural 
C)  in-home residential 
D)  suburban 
E)  urban

Question 18

Culture is a component of what type of environmental force that must be scanned to assess its impact on the organization's marketing environment?

Accepted Answer

A)  regulatory 
B)  technological 
C)  competitive 
D)  economic 
E)  social 
A)  regulatory 
B)  technological 
C)  competitive 
D)  economic 
E)  social

Question 19

Local newspaper readership has declined significantly in recent years. Not only are traditional newspapers losing subscribers, they are also losing advertisers. To combat these trends, many newspaper publishers now offer online versions of their printed newspapers. This is most likely a response to which environmental force?

Accepted Answer

A)  economic, since few can afford a newspaper today 
B)  competitive, resulting from new, smaller local newspapers that are flourishing 
C)  technological, since high-speed printing presses have become easier to use 
D)  social, resulting from changing consumer preferences for information delivered online 
E)  regulatory, since the government provides tax incentives for paper-based products 
A)  economic, since few can afford a newspaper today 
B)  competitive, resulting from new, smaller local newspapers that are flourishing 
C)  technological, since high-speed printing presses have become easier to use 
D)  social, resulting from changing consumer preferences for information delivered online 
E)  regulatory, since the government provides tax incentives for paper-based products

Question 20

Which of the following is a commonly held value in the United States?

Accepted Answer

A)  the importance of rank and status 
B)  the importance of tradition 
C)  belief in fate 
D)  individualism 
E)  acceptance of birthright 
A)  the importance of rank and status 
B)  the importance of tradition 
C)  belief in fate 
D)  individualism 
E)  acceptance of birthright

Exam 3: Scanning the Marketing Environment

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

Of the following, which racial or ethnic group has the greatest economic impact in the United States in terms of their buying power?

Exurbs are

Which of the following statements about the American household is most accurate?

Culture refers to the

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of a(n)

Walmart purchased online retailer Jet.com for $3.3 billion to complement its existing e-commerce offering and offer lower prices and a broader assortment of products to customers who shop for bargains online in response to customers'

Today, 7 of the top 10 most populous cities in the United States are located

Members of Generation Y are likely to have the greatest amount of influence on which of the following product categories?

A major regional shift in the U.S. population toward the ________ states is under way.

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how ________ forces help improve or replace existing products and companies.

Generation Y is sometimes referred to as

The Department of Labor monitors consumer expenditures through its annual Consumer Expenditure Survey. In the most recent report, consumers spent the largest proportion of their income on which of these?

The portion of one's income that remains after paying for taxes and necessities is referred to as

An important social trend is the continued concern for health and well-being in the United States. This is most likely evidenced by

One population trend shows young professionals and active retirees moving to ________ communities that offer amenities such as equestrian centers, car clubs with race tracks, vineyards, and even "agrihoods" built around community-based farms.

Culture is a component of what type of environmental force that must be scanned to assess its impact on the organization's marketing environment?

Which of the following is a commonly held value in the United States?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: the Strategic Marketing Proces

Building an Effective Marketing Plan

Financial Aspects of Marketing

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