Exam 3: Scanning the Marketing Environment

MySpace.com is a social network that is targeted primarily to people under the age of 25.In 2005,when MySpace was the leading social network,News Corp.,owner of The Wall Street Journal and Fox News,bought the firm for $580 million.Since then,its membership has declined precipitously due to changing consumer tastes.As a result,News Corp.sold MySpace to a group of investors for a paltry $38 million in mid-2011.This is an example of how __________ forces impact the marketing environment.

metropolitan statistical area refers to

Approximately one in __________ U.S.residents is African American,American Indian or Alaska Native,Asian American,or Native Hawaiian/Pacific Islander.

the rise of electronic music keyboards,the United States is overrun with unwanted pianos.A craftsman decided that old pianos were the perfect height for computer desks.The computer keyboard can be placed where the piano keys once were.He sells his converted pianos for about $1,500.Go to PianoDesk.com if you are interested in this unusual __________ effort.

Which generational cohort is adept at managing their lives to create a work-life balance?

Technology refers to

Marketers have developed generational marketing programs because

recent large decline in __________ has had a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

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

15 percent of the population born between 1965 and 1976,also called the baby bust,refers to __________.

Trademark Law Revision Act (1988)

Powerful buyers exist when

would the following environmental trends influence the success of a manufacturer of televisions,DVD players,and related equipment: (1)growing number of older Americans; (2)population shifts to remote suburbs and small towns; (3)increase in per capita income and standard of living; and (4)increased use of various types of communication technology.

Australia built a strong reputation among women with its high quality sheepskin boots.The firm is now attempting to attract men with new products.To reach them,UGG is

Describe the three components of competition.

Adjacent metropolitan statistical areas and micropolitan statistical areas may be grouped into __________ statistical areas.

Demographics refers to

mother bought what she thought was a large box of unsweetened cereal.It was the same 22 oz.size as other brands whose boxes clearly marked.However,when she opened the box it was barely ¾ full.The Fair Packaging and Labeling Act would not protect her unless

blended family refers to a family

There are only three major recording labels in the world-Sony Music Entertainment,Time-Warner's Warner Music Group,and GE's Universal Music Group.They are responsible for the vast majority of music recordings that are made.Harry says that these three music companies operate as an oligopoly.Maryanne says that they operate as monopolistic competition.Explain how each came to his or her conclusion.Who is correct?