Exam 4: The Marketing Environment

Laws and regulations of various governments and their ongoing development and change are an example of _____ factors that are part of all organizations' external environment.

Companies use environmental management when they implement strategies that attempt to shape the external environment within which they operate.

The Michigan State Legislature tried to pass a bill requiring concert promoters and venue operators to print parental warnings on tickets and advertisements for concerts and shows by performers whose recordings had content advisory labels.Promoters and venue operators prevented the passage of this bill,arguing that it would require them to make value judgments for which they were ill-equipped.The promoters and operators engaged in_____.

Which of the following was ranked as the world's most innovative company?

Which type of research attempts to develop new or improved products?

When Universal Studios Japan opened,health inspectors discovered the theme park had piped industrial use water not suitable for drinking into its drinking fountains.The problem was unanticipated and costly to repair.This is primarily an example of how _____ factors can cause a business to incur unexpected costs.

Which of the following statements characterizes the growing ethnic markets in the United States today?

The main product for Zamperla Industries is gondola cars for amusement park rides and ski lifts.Its marketing department constantly monitors trends in the external environment that might affect the firm.Which economic factor may pose a major threat to this company?

Multiculturalism occurs when all major ethnic groups in an area are roughly equally represented.

_____ factors are environmental factors that include our attitudes,values,and lifestyles.

Girls between the ages of 8 and 14 are one of the growing markets for high-end shoe manufacturers.These girls want styles that are both youthful and grown-up looking.They are _____.

Sometimes the Federal Trade Commission (FTC)will require an advertiser to include in its advertisements additional information about the products being promoted.This is to clarify past statements the FTC believes were misleading or unfairly presented to consumers.This practice is called:

What is a component lifestyle? Describe how a college student follows a component lifestyle.Use specific examples.

Champion Lyte is a sugar-free sports drink designed to replenish electrolytes lost during activity or illness.Since the product was designed primarily for diabetics,health care professionals who treat diabetics are its primary target market.

Psychography is the study of people's vital statistics such as their ages and locations.

The higher your _____,the higher your purchasing power:

After-tax income is referred to as:

A company that specializes in planning and organizing large family reunions has hired you to identify 25 geographic target markets that are also examples of multicultural societies.What types of locations should you offer this firm?

The Federal Trade Commission (FTC)accused Campbell Soup of deceptive advertising because the soup company's advertising showed bowls of soup that appeared to be full of meat,vegetables,and noodles.The appearance of the soup was altered by the placing of glass marbles in the bottom of the bowl,which caused the ingredients to rise to the top of the bowl.The FTC would have issued a(n)_____ to make Campbell stop running the deceptive ad.

A(n)_____ is the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single,traditional lifestyle.