Question 1

Discuss ways to market to the African American market in the U.S.

Accepted Answer

Answers will vary. African Americans ten...

Question 2

Global competition is decreasing with the increase in population.

Accepted Answer

A) True 
 B)False

Question 3

A target market is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following scenarios is an example of basic research?

Accepted Answer

A)  Jeremy, a social activist, is researching ways to improve the quality of life of physically challenged people.
B)  Xerome, an engineer, is trying to find an alternative fuel that would be cost effective and environmental friendly.
C)  Sasha, a student, is working on his new science project.
D)  Laila, an engineer, is trying to rectify the malfunctions of her newly invented engine.E) B) and C)
F) A) and B)

Question 5

Which of the following statements is true of the competitive environment in the United States?

Accepted Answer

A)  Population growth in the United States decreases global competition.
B)  Technology advances can change a firm's business model.
C)  Rise of product costs makes resources readily available.
D)  A management has full control over the competitive environment.E) A) and B)
F) C) and D)

Question 6

Jane is a 16-year-old sophomore. She stays abreast of the latest technology and educates her parents about the latest trends in technology. She convinced them to replace her old cell phone with a new one. Given this information, Jane is a _____.

Accepted Answer

A)  tween
B)  teen
C)  Gen Xer
D)  Gen YerE) A) and B)
F) All of the above

Question 7

Which of the following statements is true about population trends in the United States?

Accepted Answer

A)  The populations in the rural regions of the United States are aging.
B)  In many parts of the country, multigenerational households are increasingly rare.
C)  Baby boomers are now the smallest population group.
D)  Tweens are now the largest population group.E) A) and B)
F) A) and C)

Question 8

In terms of purchasing power, when income is low relative to the cost of living, people have more discretionary income.

Accepted Answer

A) True 
 B)False

Question 9

With access to information, opinions, and sophistication well beyond their years, _____ are directly or indirectly responsible for sales of over $180 billion annually.

Accepted Answer

A)  baby boomers
B)  Millennials
C)  teens
D)  tweensE) A) and B)
F) A) and D)

Question 10

The CAN-SPAM Act:

Accepted Answer

A)  prohibits commercial e-mailers from using false addresses and presenting false or misleading information.
B)  requires fast-food chains to open their facilities to health inspection at least once every quarter.
C)  requires verifiable parental consent before a Web site can collect information from children.
D)  allows commercial e-mailers to charge consumers a fee to opt out of receiving further email.E) B) and C)
F) A) and C)

Question 11

Unlike television, social media enable firms to create conversations with customers and establish meaningful connections.

Accepted Answer

A) True 
 B)False

Question 12

Joshua, an HR manager in a multinational firm, is recruiting employees for his firm. During the self-introduction stage, one of the interviewees, Martha, shares information about herself. In this case, which of the following is a demographic characteristic?

Accepted Answer

A)  She lives in Manhattan.
B)  She believes in social service.
C)  She is very creative in cooking.
D)  She prefers using electronic gadgets of a particular brand.E) A) and C)
F) C) and D)

Question 13

Which of the following statements is true of the attitude of teens in the United States?

Accepted Answer

A)  Most teens prefer to shop online than in stores.
B)  According to a survey taken by Piper Jaffary, teens continue to seek peer affirmation.
C)  Teens spend more on food than any other cohort group.
D)  Most teens are influenced by traditional advertising, sales reps, and word-of-mouth recommendations than any other cohort.E) B) and C)
F) A) and D)

Question 14

Demographics, one of the uncontrollable variables in the external environment, are significant because the basis for any market is people.

Accepted Answer

A) True 
 B)False

Question 15

In times of high inflation, businesses seeking to increase their profit margins can do so only by increasing their efficiency.

Accepted Answer

A) True 
 B)False

Question 16

Compare the effect of inflation and recession on the economic environment of the United States.

Accepted Answer

Answers will vary. Inflation is a measur...

Question 17

Alex purchased a battery-operated drill. Due to a manufacturing defect, the drill overheated and exploded when he used it for the first time. Alex lodged a complaint against the firm that manufactured the drill with the Consumer Product Safety Commission (CPSC) . In this case, which of the following is most likely to happen?

Accepted Answer

A)  The CPSC can fine the offending firm up to $500,000.
B)  The CPSC will reduce the prices of the drills of the offending firm in the market.
C)  The CPSC will introduce changes to the drills of the offending firm in the market.
D)  The CPSC has no power to sentence the officers involved in the case.E) A) and B)
F) A) and C)

Question 18

Which of the following statements is true of baby boomers?

Accepted Answer

A)  The youngest baby boomers were around 34 years old in 2013.
B)  They lay emphasis on price and quality while making purchase decisions.
C)  They prefer to be addressed as senior, elderly, or aged.
D)  They are a small market with minimal spending power.E) B) and C)
F) A) and B)

Question 19

In today's age, a person's profession defines his or her lifestyle.

Accepted Answer

A) True 
 B)False

Question 20

James earns $3,000 per month. If his overall cost of living is $1,700, his purchasing power is _____.

Accepted Answer

A)  $3,000
B)  $500
C)  $1,300
D)  $1,700E) A) and B)
F) All of the above

Exam 4: The Marketing Environment

In today's age, a person's profession defines his or her lifestyle.

Correct Answer
verified

Unlike television, social media enable firms to create conversations with customers and establish meaningful connections.

Correct Answer
verified

Which of the following statements is true of the competitive environment in the United States?

Correct Answer
verified

Which of the following statements is true of baby boomers?

Correct Answer
verified

Correct Answer
verified

A target market is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.

Correct Answer
verified

In terms of purchasing power, when income is low relative to the cost of living, people have more discretionary income.

Correct Answer
verified

Global competition is decreasing with the increase in population.

Correct Answer
verified

With access to information, opinions, and sophistication well beyond their years, _____ are directly or indirectly responsible for sales of over $180 billion annually.

Correct Answer
verified

Compare the effect of inflation and recession on the economic environment of the United States.

Correct Answer
verified
Answers will vary. Inflation is a measur...
View Answer

Which of the following statements is true about population trends in the United States?

Correct Answer
verified

Joshua, an HR manager in a multinational firm, is recruiting employees for his firm. During the self-introduction stage, one of the interviewees, Martha, shares information about herself. In this case, which of the following is a demographic characteristic?

Correct Answer
verified

In times of high inflation, businesses seeking to increase their profit margins can do so only by increasing their efficiency.

Correct Answer
verified

Which of the following statements is true of the attitude of teens in the United States?

Correct Answer
verified

The CAN-SPAM Act:

Correct Answer
verified

Demographics, one of the uncontrollable variables in the external environment, are significant because the basis for any market is people.

Correct Answer
verified

Which of the following scenarios is an example of basic research?

Correct Answer
verified

Jane is a 16-year-old sophomore. She stays abreast of the latest technology and educates her parents about the latest trends in technology. She convinced them to replace her old cell phone with a new one. Given this information, Jane is a _____.

Correct Answer
verified

James earns $3,000 per month. If his overall cost of living is $1,700, his purchasing power is _____.

Correct Answer
verified

Discuss ways to market to the African American market in the U.S.

Correct Answer
verified
Answers will vary. African Americans ten...
View Answer

Exam 4: The Marketing Environment

In today's age, a person's profession defines his or her lifestyle.

Correct AnswerverifiedShow Answer

Unlike television, social media enable firms to create conversations with customers and establish meaningful connections.

Correct AnswerverifiedShow Answer

Which of the following statements is true of the competitive environment in the United States?

Correct AnswerverifiedShow Answer

Which of the following statements is true of baby boomers?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A target market is a group of people or organizations for which an organization designs, implements, and maintains a marketing mix intended to meet the needs of that group, resulting in mutually satisfying exchanges.

Correct AnswerverifiedShow Answer

In terms of purchasing power, when income is low relative to the cost of living, people have more discretionary income.

Correct AnswerverifiedShow Answer

Global competition is decreasing with the increase in population.

Correct AnswerverifiedShow Answer

With access to information, opinions, and sophistication well beyond their years, _____ are directly or indirectly responsible for sales of over $180 billion annually.

Correct AnswerverifiedShow Answer

Compare the effect of inflation and recession on the economic environment of the United States.

Correct AnswerverifiedAnswers will vary. Inflation is a measur...View AnswerShow Answer

Which of the following statements is true about population trends in the United States?

Correct AnswerverifiedShow Answer

Joshua, an HR manager in a multinational firm, is recruiting employees for his firm. During the self-introduction stage, one of the interviewees, Martha, shares information about herself. In this case, which of the following is a demographic characteristic?

Correct AnswerverifiedShow Answer

In times of high inflation, businesses seeking to increase their profit margins can do so only by increasing their efficiency.

Correct AnswerverifiedShow Answer

Which of the following statements is true of the attitude of teens in the United States?

Correct AnswerverifiedShow Answer

The CAN-SPAM Act:

Correct AnswerverifiedShow Answer

Demographics, one of the uncontrollable variables in the external environment, are significant because the basis for any market is people.

Correct AnswerverifiedShow Answer

Which of the following scenarios is an example of basic research?

Correct AnswerverifiedShow Answer

Jane is a 16-year-old sophomore. She stays abreast of the latest technology and educates her parents about the latest trends in technology. She convinced them to replace her old cell phone with a new one. Given this information, Jane is a _____.

Correct AnswerverifiedShow Answer

James earns $3,000 per month. If his overall cost of living is $1,700, his purchasing power is _____.

Correct AnswerverifiedShow Answer

Discuss ways to market to the African American market in the U.S.

Correct AnswerverifiedAnswers will vary. African Americans ten...View AnswerShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary. Inflation is a measur...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Answers will vary. African Americans ten...
View Answer