Question 1

Which of the following is a demographic trends that has significant implications to global marketers?

Accepted Answer

A) the declining populations in Latin American countries 
B) the large and growing markets in India and China 
C) the tripling of the population of consumers under 40 years old 
D) the decreasing interest in entrepreneurship in developing countries 
E) the lack of savings of elderly populations in developed countries 
A) the declining populations in Latin American countries 
B) the large and growing markets in India and China 
C) the tripling of the population of consumers under 40 years old 
D) the decreasing interest in entrepreneurship in developing countries 
E) the lack of savings of elderly populations in developed countries

Question 2

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

Question 3

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

Question 4

In a(n)________ economy,if prices rise faster than consumer incomes,the number of items consumers can buy decreases.

Accepted Answer

A) deflationary 
B) expansionary 
C) recessionary 
D) inflationary 
E) depressive 
A) deflationary 
B) expansionary 
C) recessionary 
D) inflationary 
E) depressive

Question 5

In terms of business travel,for which generational cohort are ads regarding in-flight Wi-Fi and on-demand entertainment most likely trying to reach?

Accepted Answer

A) Generation X 
B) baby boomers 
C) Generation Z 
D) baby busters 
E) Generation Y 
A) Generation X 
B) baby boomers 
C) Generation Z 
D) baby busters 
E) Generation Y

Question 6

Members of Generation Z are most likely to influence

Accepted Answer

A) furniture design. 
B) health care and insurance. 
C) retirement plans. 
D) e-textbooks. 
E) automobile design. 
A) furniture design. 
B) health care and insurance. 
C) retirement plans. 
D) e-textbooks. 
E) automobile design.

Question 7

Technology is defined as

Accepted Answer

A) any device or process based on scientific discoveries that are less than one year old. 
B) any mechanical device used in the production or distribution of a product. 
C) scientific findings that are used now or are able to generate a profit. 
D) ideas or concepts that will one day be translated into usable devices,mechanisms,or processes. 
E) the inventions or innovations from applied science or engineering research. 
A) any device or process based on scientific discoveries that are less than one year old. 
B) any mechanical device used in the production or distribution of a product. 
C) scientific findings that are used now or are able to generate a profit. 
D) ideas or concepts that will one day be translated into usable devices,mechanisms,or processes. 
E) the inventions or innovations from applied science or engineering research.

Question 8

By 2050,the world's population is expected to exceed

Accepted Answer

A) 2 billion. 
B) 3 billion. 
C) 5 billion. 
D) 6 billion. 
E) 9 billion. 
A) 2 billion. 
B) 3 billion. 
C) 5 billion. 
D) 6 billion. 
E) 9 billion.

Question 9

A metropolitan statistical area refers to

Accepted Answer

A) a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration. 
B) a statistical area of 2.5 million people or more. 
C) a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area. 
D) a highly urbanized area with a centrally located population of at least 1,000,000 people. 
E) 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. 
A) a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration. 
B) a statistical area of 2.5 million people or more. 
C) a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area. 
D) a highly urbanized area with a centrally located population of at least 1,000,000 people. 
E) 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.

Question 10

Demographic characteristics that describe a population include all of the following except which?

Accepted Answer

A) income 
B) age 
C) occupation 
D) zip code 
E) ethnicity 
A) income 
B) age 
C) occupation 
D) zip code 
E) ethnicity

Question 11

The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is referred to as

Accepted Answer

A) significant trend analysis. 
B) organizational scanning. 
C) environmental scanning. 
D) a SWOT analysis. 
E) marketing intelligence. 
A) significant trend analysis. 
B) organizational scanning. 
C) environmental scanning. 
D) a SWOT analysis. 
E) marketing intelligence.

Question 12

Many changes in the environment occurred to create the need for the services of Best Buy's Geek Squad.Future changes are also likely to change the way Geek Squad operates.An environmental scan helps illustrate the changes.What are some of the key changes that are occurring?

Accepted Answer

According to Best Buy CEO,Hubert Joly,on

Question 13

Changes in ________ have a psychological impact on consumers,who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Accepted Answer

A) automobile prices 
B) fuel prices 
C) the number of people competing for jobs 
D) consumer confidence 
E) home values 
A) automobile prices 
B) fuel prices 
C) the number of people competing for jobs 
D) consumer confidence 
E) home values

Question 14

In 1970,the typical U.S.household earned about $8,700.In 2015,the typical U.S.household earned about $56,516.If adjusted for inflation,the gross income of the typical U.S.household in 2015 relative to 1970 has

Accepted Answer

A) increased dramatically. 
B) increased somewhat. 
C) remained relatively stable. 
D) decreased somewhat. 
E) decreased dramatically. 
A) increased dramatically. 
B) increased somewhat. 
C) remained relatively stable. 
D) decreased somewhat. 
E) decreased dramatically.

Question 15

A firm conducting an environmental scan of the marketplace might uncover key ________ such as the growing popularity of brand advocates,the increasing application of virtual reality and augmented reality,and the importance of "gig economy" businesses' legal challenges.

Accepted Answer

A) profits 
B) responsibilities 
C) idealisms 
D) codes 
E) trends 
A) profits 
B) responsibilities 
C) idealisms 
D) codes 
E) trends

Question 16

One reason some people don't like to buy clothing from Internet retailers is the inability to know if the ordered clothes will fit.ImageTwin has developed a scanning system that obtains the measurements of individuals,which are then fed into a database.When you want to buy something at LandsEnd.com,you can see a 3-D image of what the item should look like on your body.This is an example of the ________ force in the marketing environment.

Accepted Answer

A) economic 
B) technological 
C) sociocultural 
D) competitive 
E) marketing mix 
A) economic 
B) technological 
C) sociocultural 
D) competitive 
E) marketing mix

Question 17

Environmental scanning refers to

Accepted Answer

A) assessing any possible negative impact a firm's activities might have on the local ecology. 
B) continually acquiring information on events occurring outside the organization to identify and interpret potential trends. 
C) setting up a regular schedule to assess the performance of different divisions within a firm. 
D) initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment. 
E) requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome. 
A) assessing any possible negative impact a firm's activities might have on the local ecology. 
B) continually acquiring information on events occurring outside the organization to identify and interpret potential trends. 
C) setting up a regular schedule to assess the performance of different divisions within a firm. 
D) initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment. 
E) requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.

Question 18

Barriers to entry refer to

Accepted Answer

A) governmental prohibitions regarding the establishment of businesses that are considered immoral. 
B) governmental prohibitions regarding the establishment of businesses that are considered legal but unethical. 
C) strong-armed tactics that are illegal but commonly used in certain industries to hinder competition. 
D) business practices that make it difficult for new firms to enter the market. 
E) restrictions against certain consumers' purchase of a product. 
A) governmental prohibitions regarding the establishment of businesses that are considered immoral. 
B) governmental prohibitions regarding the establishment of businesses that are considered legal but unethical. 
C) strong-armed tactics that are illegal but commonly used in certain industries to hinder competition. 
D) business practices that make it difficult for new firms to enter the market. 
E) restrictions against certain consumers' purchase of a product.

Question 19

________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Accepted Answer

A) Cross-market competition 
B) Limited competition 
C) Pure competition 
D) Monopolistic competition 
E) A monopoly 
A) Cross-market competition 
B) Limited competition 
C) Pure competition 
D) Monopolistic competition 
E) A monopoly

Question 20

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

Accepted Answer

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

Exam 3: Scanning the Marketing Environment

Which of the following is a demographic trends that has significant implications to global marketers?

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

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

In a(n)________ economy,if prices rise faster than consumer incomes,the number of items consumers can buy decreases.

In terms of business travel,for which generational cohort are ads regarding in-flight Wi-Fi and on-demand entertainment most likely trying to reach?

Members of Generation Z are most likely to influence

Technology is defined as

By 2050,the world's population is expected to exceed

A metropolitan statistical area refers to

Demographic characteristics that describe a population include all of the following except which?

The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is referred to as

Many changes in the environment occurred to create the need for the services of Best Buy's Geek Squad.Future changes are also likely to change the way Geek Squad operates.An environmental scan helps illustrate the changes.What are some of the key changes that are occurring?

Changes in ________ have a psychological impact on consumers,who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

In 1970,the typical U.S.household earned about $8,700.In 2015,the typical U.S.household earned about $56,516.If adjusted for inflation,the gross income of the typical U.S.household in 2015 relative to 1970 has

A firm conducting an environmental scan of the marketplace might uncover key ________ such as the growing popularity of brand advocates,the increasing application of virtual reality and augmented reality,and the importance of "gig economy" businesses' legal challenges.

Environmental scanning refers to

Barriers to entry refer to

________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

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 Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

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