Marketing Chapter 3 Test Questions – Flashcards
Unlock all answers in this set
Unlock answersquestion
Which of the following is part of the microenvironment of a firm's marketing environment?
answer
the suppliers who work with the company
question
Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.
answer
macroenvironment
question
The responsibility for setting a company's mission, objectives, broad strategies, and policies primarily lies with its ________.
answer
top management
question
Which of the following is part of the microenvironment of a company's marketing environment?
answer
a just-in-time inventory system used by the company when making purchase decisions
question
________ provide the resources needed by a company to produce its goods and services.
answer
Suppliers
question
________ are distribution channel firms that help a company find customers or make sales to them.
answer
Resellers
question
Which of the following has the primary function of helping a company target and promote its products to the right markets?
answer
marketing services agencies
question
A marketing intermediary would most likely help a firm by ________.
answer
moving the firm's goods from production points to distribution centers
question
Which of the following is most likely a financial public?
answer
stockholder
question
Monfax Corporation insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, Monfax is an example of a ________.
answer
financial intermediary
question
Which of the following is an example of a media public?
answer
television station
question
Kelstone Developers is planning to build a new shopping mall that would require the partial acquisition of a nearby public park. Walking Green, an environmental group, challenges the plan citing environmental destruction. In response to the demands of Walking Green, Kelstone Developers promises to build a huge park-like walkway around the mall. Walking Green is an example of a(n) ________ in this scenario.
answer
citizen-action public
question
Minority groups that question a company's marketing decisions most likely belong to ________ publics.
answer
citizen-action
question
The town of Genter recently witnessed a devastating hurricane that crippled the town's infrastructure. Q-Mart, a retail chain that plans to open a new retail store in Genter, organizes a program to help the people of Genter. The program consists of providing free meals to those who lost their dwellings in the hurricane. What section of the marketing microenvironment is Q-Mart most likely trying to reach?
answer
local publics
question
The citizen-action publics in a company's marketing environment include ________.
answer
environmental groups
question
Which of the following is an example of a local public?
answer
a community organization that addresses welfare issues in its neighborhood
question
Which of the following are examples of internal publics of a company?
answer
the managers, board of directors, and workers of the company
question
According to the text, ________ are the most important actors in a company's microenvironment.
answer
customers
question
________ markets consist of individuals and households that buy goods and services for personal use.
answer
Consumer
question
Which of the following is most likely categorized as a business market?
answer
firms that buy goods and services for further processing
question
Reseller markets consist of ________.
answer
firms that buy goods and services to sell at a profit
question
Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target?
answer
business market
question
JJ Distributors Ltd. buys electronic products from manufacturers for wholesale and sells them to various retail outlets. To which of the following markets does JJ Distributors Ltd. directly cater?
answer
reseller markets
question
________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.
answer
Demography
question
Members of which of the following generational groups were born between 1946 and 1964?
answer
baby boomer
question
Which of the following is most likely a true statement about baby boomers?
answer
They are the wealthiest generation in U.S. history.
question
To which of the following generational groups do zoomers belong?
answer
baby boomer
question
Which generational group controls the highest percentage of disposable income in the United States?
answer
baby boomer
question
Secure is a financial services and insurance company. The company's most profitable division is one that sells the Secure Future Plan. The Secure Future Plan targets customers who are entering retirement and want long-term savings so they can remain financially independent in the later years of their life. The marketing team at Secure has most likely targeted the plan at ________.
answer
baby boomers
question
Which of the following is most likely a characteristic of Generation Xers?
answer
They were the first group to grow up in the Internet era.
question
Which generational group is most likely less materialistic when compared with other groups?
answer
Generation X
question
Which of the following is most likely a characteristic of the Millennial generation?
answer
They like to engage in two-way brand conversations.
question
Which of the following is the most financially strapped generation in the post-recession era?
answer
the Millennials
question
Members of which generational group are referred to as echo boomers?
answer
Generation Y
question
Which generational group consists of the kid, teen, and tween markets?
answer
Generation Z
question
Which generational group is most comfortable using digital technologies?
answer
Generation Z
question
Which of the following is most likely a true statement about generational groups in the United States?
answer
The Generation Xers are the most educated generation to date.
question
Which of the following is a geographic shift that has been observed in the United States in recent times?
answer
more Americans moving to micropolitan areas
question
Which of the following has resulted from the increased educational levels of the U.S. population?
answer
greater job growth for professional workers
question
One of the demographic trends seen in the United States over the last few decades is the decrease in the proportion of ________.
answer
manufacturing workers
question
Which of the following factors would fall under the demographic environment for marketers?
answer
the educational level of a company's customers
question
Which of the following is a demographic trend observed in the United States?
answer
More people are working remotely.
question
Which of the following is most likely a true statement about diversity in the United States?
answer
Various ethnic groups mix together but also retain their cultural differences.
question
Subsistence economies are best defined as economies that ________.
answer
consume most of their own agricultural output and offer few market opportunities
question
Which of the following changes most likely forced marketers to shift to value marketing after the Great Recession of 2008/2009?
answer
a decrease in customer spending in all product categories
question
Changes in variables, such as income, cost of living, interest rates, and savings and borrowing patterns most likely reflect changes in the ________ environment of a company.
answer
economic
question
Fargo Inc. is a carbonated beverage manufacturer that has many manufacturing plants around the world. It is planning to shift from using thermal power to wind power for its manufacturing plants in the Netherlands to decrease dependency on nonrenewable sources of energy. This scenario depicts Fargo's concern for its ________ environment.
answer
natural
question
Which of the following represents a change in the technological environment of a marketing firm?
answer
increased use of RFID systems to track products
question
Which of the following is most likely a true statement about the technological environment of a firm?
answer
Every new technology makes an older technology obsolete.
question
In a marketer's macroenvironment, the ________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
answer
political
question
Governments most likely enact business legislation to ________.
answer
prevent unfair competition in the market
question
Which of the following is most likely true about business legislation?
answer
Business laws that are enforced by government agencies have a major impact on a company's marketing performance.
question
An ethical concern about companies that use online marketing techniques and involve consumer information in the process is that these companies ________.
answer
track, share, and misuse browsing details of unknowing customers
question
Which of the following is an example of cause-related marketing?
answer
a firm selling electronics and giving a percentage of sales to charity
question
Ursa Martin, a book publisher, has decided to work with Hope in Children, a charity foundation that helps feed and educate children in poor countries. Ursa Martin has decided that a percentage of revenue from every book it sells will go to the charity. The books are marketed by conveying this message to customers. Which of the following marketing techniques describes Ursa Martin's association with Hope in Children?
answer
cause-related marketing
question
Which of the following is most likely true about people's beliefs and values?
answer
Core beliefs and values have a high degree of persistence.
question
Which of the following is most likely a true statement about people's views about organizations?
answer
Many people view work at an organization as a required chore.
question
Which of the following is most likely a characteristic of firms that adopt a reactive approach toward the marketing environment?
answer
They take advantage of the opportunities provided by the environment.
question
Which of the following is most likely true about companies that take a proactive stance toward the marketing environment?
answer
They develop strategies to change the marketing environment.
question
Which of the following marketing actions would a proactive organization most likely take?
answer
running advertorials to shape public opinion
