Chapter 3 Marketing – Flashcards
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Which of the following is part of the microenvironment of a firm's marketing environment? A) the political state of the country in which the firm exists B) the cultural forces that exist in a society C) the suppliers who work with the company D) the technological resources available to the company E) the different demographic trends in the market
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C) the suppliers who work with the company
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Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization. A) supply chain B) macroenvironment C) marketing intermediary network D) internal environment E) microenvironment
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B) macroenvironment
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The responsibility for setting a company's mission, objectives, broad strategies, and policies primarily lies with its ________. A) finance department B) research department C) top management D) marketing managers E) human resource managers
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C) top management
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Which of the following is part of the microenvironment of a company's marketing environment? A) a just-in-time inventory system used by the company when making purchase decisions B) a set of laws that require the company to scale down its telemarketing calls to customers C) a changing demographic picture that requires the firm to make product adaptations D) a new technology that would ensure significant cost-cutting if implemented in the firm E) a set of environmental sustainability laws that significantly impact the company's production processes
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A) a just-in-time inventory system used by the company when making purchase decisions
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________ provide the resources needed by a company to produce its goods and services. A) Wholesalers B) Suppliers C) Physical distribution firms D) Media firms E) Retailers
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B) Suppliers
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________ are distribution channel firms that help a company find customers or make sales to them. A) Resellers B) Suppliers C) Producers D) Logistics firms E) Credit companies
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A) Resellers
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Which of the following has the primary function of helping a company target and promote its products to the right markets? A) marketing services agencies B) resale marketers C) service providers D) physical distribution firms E) credit companies
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A) marketing services agencies
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A marketing intermediary would most likely help a firm by ________. A) negotiating with labor unions regarding wages, hours, and benefits B) providing technical expertise on the production and design of goods C) competing directly with the firm in a certain product category D) supplying the raw materials needed for manufacturing the firm's products E) moving the firm's goods from production points to distribution centers
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E) moving the firm's goods from production points to distribution centers
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Which of the following is most likely a financial public? A) community organization B) minority group C) corporate attorney D) stockholder E) newspaper
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D) stockholder
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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 ________. A) wholesaler B) retailer C) financial intermediary D) physical distribution firm E) marketing service agency
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C) financial intermediary
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Which of the following is an example of a media public? A) community organization B) minority group C) television station D) banking institution E) federal government
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C) television station
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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. A) financial public B) government public C) citizen-action public D) internal public E) media public
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C) citizen-action public
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Minority groups that question a company's marketing decisions most likely belong to ________ publics. A) general B) local C) citizen-action D) media E) financial
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C) citizen-action
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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? A) suppliers B) marketing intermediaries C) local publics D) competitors E) employees
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C) local publics
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The citizen-action publics in a company's marketing environment include ________. A) employees and managers of the company B) stockholders and investment analysts C) government trade agencies D) environmental groups E) news channels
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D) environmental groups
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Which of the following is an example of a local public? A) a community organization that addresses welfare issues in its neighborhood B) a supplier responsible for sourcing most of the raw materials used in production C) a company director who is working to improve the organization's public image D) a bank that helps a company acquire loans E) a federal regulatory agency that monitors business practices
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A) a community organization that addresses welfare issues in its neighborhood
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Which of the following are examples of internal publics of a company? A) newspapers, magazines, television stations, blogs, and other Internet media B) governmental departments and agencies that regulate businesses C) neighborhood residents and community organizations D) the managers, board of directors, and workers of the company E) the general public that is directly affected by the company
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D) the managers, board of directors, and workers of the company
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According to the text, ________ are the most important actors in a company's microenvironment. A) stockholders B) employees C) suppliers D) resellers E) customers
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E) customers
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________ markets consist of individuals and households that buy goods and services for personal use. A) Consumer B) Business C) Government D) Wholesaler E) Retailer
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A) Consumer
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Which of the following is most likely categorized as a business market? A) government agencies that buy goods and services to produce public services B) individuals who buy goods and services for personal consumption C) firms that buy goods and services for further processing D) firms that buy goods and services to resell for profit E) retail outlets that buy goods and services to sell at discounted prices
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C) firms that buy goods and services for further
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Reseller markets consist of ________. A) government agencies that buy goods and services to produce public services B) individuals who buy goods and services for personal consumption C) firms that buy goods and services to assemble overseas D) firms that buy goods and services to sell at a profit E) firms that buy goods and services for further processing
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D) firms that buy goods and services to sell at a profit
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Dextora Technologies manufactures microprocessors and caters exclusively to private manufacturers that produce high-end computers. Which type of market does Dextora directly target? A) retail market B) government market C) consumer market D) business market E) reseller market
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D) business market
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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? A) business markets B) reseller markets C) manufacturer markets D) supplier markets E) consumer markets
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B) reseller markets
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________ is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics. A) Sociobiology B) Demography C) Behavioral ecology D) Environmental studies E) Political science
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B) Demography
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Members of which of the following generational groups were born between 1946 and 1964? A) Millennial B) Generation X C) Generation Z D) baby boomer E) Lost Generation
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D) baby boomer
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Which of the following is most likely a true statement about baby boomers? A) They are the first generation to have grown up with computers. B) They constitute the largest demographic group in the United States. C) They were born between 1965 and 1976. D) They are the most educated generation of Americans. E) They are the wealthiest generation in U.S. history.
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E) They are the wealthiest generation in U.S. history.
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) To which of the following generational groups do zoomers belong? A) Millennial B) Generation X C) Generation Z D) Lost Generation E) baby boomer
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E) baby boomer
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Which generational group controls the highest percentage of disposable income in the United States? A) baby boomer B) Generation X C) Millennial D) Generation Z E) Lost Generation
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A) baby boomer
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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 ________. A) Millennials B) baby boomers C) Generation Xers D) Generation Zers E) the Lost Generation
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D) Generation Zers
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Which of the following is most likely a characteristic of Generation Xers? A) They were the first group to grow up in the Internet era. B) They comprise a considerably larger population than the baby boomers. C) They prefer quantity over quality of products. D) They are the least educated generation to date. E) They are generally unreceptive to ad pitches that make fun of tradition
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A) They were the first group to grow up in the Internet era.
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Which generational group is most likely less materialistic when compared with other groups? A) Generation Z B) Generation X C) baby boomer D) Millennial E) the Lost Generation
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B) Generation X
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Which of the following is most likely a characteristic of the Millennial generation? A) They have very little knowledge of using digital media. B) They are a smaller population than Generation X. C) They are the wealthiest generation in the United States to date. D) They like to engage in two-way brand conversations. E) They typically avoid using technology while buying products.
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D) They like to engage in two-way brand conversations.
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Which of the following is the most financially strapped generation in the post-recession era? A) the Millennials B) Generation X C) Generation Z D) the Lost Generation E) the baby boomers
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A) the Millennials
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Members of which generational group are referred to as echo boomers? A) the Lost Generation B) Generation X C) Generation Z D) the baby boomers E) Generation Y
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E) Generation Y
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Which generational group consists of the kid, teen, and tween markets? A) Generation Y B) Millenial C) Generation Z D) Generation X E) Lost Generation
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C) Generation Z
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Which generational group is most comfortable using digital technologies? A) Millennial B) Zoomer C) Generation X D) Generation Z
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D) Generation Z
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Which of the following is most likely a true statement about generational groups in the United States? A) The Millennials account for nearly half of all discretionary consumer spending in the United States. B) The Generation Xers are the most educated generation to date. C) The baby boomers comprise the poorest segment of the population. D) The Generation Xers form the largest segment of the population. E) The Millennials are the most financially secure generation.
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B) The Generation Xers are the most educated generation to date.
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Which of the following is a geographic shift that has been observed in the United States in recent times? A) fewer Americans moving to Sunbelt states B) fewer Americans moving to the South C) more Americans moving to the Midwest D) more Americans moving to densely populated cities E) more Americans moving to micropolitan areas
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E) more Americans moving to micropolitan areas
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Which of the following has resulted from the increased educational levels of the U.S. population? A) lower acceptance of technological changes B) greater job growth for professional workers C) higher number of manufacturing jobs D) lower mobility of the U.S. population E) lower number of women in the workforce
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B) greater job growth for professional workers
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One of the demographic trends seen in the United States over the last few decades is the decrease in the proportion of ________. A) professional workers B) manufacturing workers C) white-collar workers D) telecommuters E) female employees
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B) manufacturing workers
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Which of the following factors would fall under the demographic environment for marketers? A) the growth rate of a company's competitors B) the prices quoted by a company's suppliers C) the profitability of a company's shareholders D) the level of technological advancement in a company's production processes E) the educational level of a company's customers
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E) the educational level of a company's customers
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Which of the following is a demographic trend observed in the United States? A) More people are working remotely. B) Fewer women are entering the workforce. C) Literary rates are dropping in the United States. D) More people are migrating from the suburbs to the cities. E) More people are shifting toward the manufacturing industry.
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A) More people are working remotely.
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Which of the following is most likely a true statement about diversity in the United States? A) Most ethnic groups are shedding their ethnic culture and shifting toward a unified American culture. B) Asian Americans constitute the largest ethnic group in the United States. C) Ethnic and cultural differences exist since different ethnic groups remain isolated from one another. D) Various ethnic groups mix together but also retain their cultural differences. E) The nation's ethnic populations are set to decrease in coming decades.
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D) Various ethnic groups mix together but also retain their cultural differences.
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Subsistence economies are best defined as economies that ________. A) constitute rich markets for many different kinds of goods and services B) consume most of their own agricultural output and offer few market opportunities C) offer outstanding marketing opportunities for innovative technological products D) offer huge marketing opportunities for industrial goods E) export all their agricultural and industrial products
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B) consume most of their own agricultural output and offer few market opportunities
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Which of the following changes most likely forced marketers to shift to value marketing after the Great Recession of 2008/2009? A) a decrease in customer spending in all product categories B) an increase in the prices of products C) an increase in the purchasing power of consumers D) a decrease in the emphasis placed by customers on product quality E) an increase in the demand for luxury products
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A) a decrease in customer spending in all product categories
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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. A) economic B) natural C) demographic D) political E) cultural
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A) economic
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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. A) economic B) natural C) demographic D) political E) cultural
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B) natural
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Which of the following represents a change in the technological environment of a marketing firm? A) increased use of cause-related marketing B) increased use of RFID systems to track products C) increased need to comply with environmental regulations D) increased use of value marketing techniques and promotions E) increased need to engage in mass marketing over market segmentation
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B) increased use of RFID systems to track products
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Which of the following is most likely a true statement about the technological environment of a firm? A) Every new technology makes an older technology obsolete. B) Product safety laws decrease the time taken to introduce new technologies to the market. C) New technologies fail to create many new opportunities in the marketplace. D) The technological environment of a firm remains constant over time. E) New product regulations typically reduce a firm's research costs
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A) Every new technology makes an older technology obsolete.
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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. A) political B) cultural C) technological D) natural E) internal
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A) political
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Governments most likely enact business legislation to ________. A) prevent unfair competition in the market B) allow a single large monopoly in the market C) prevent alternative products from entering the market D) protect the interests of producers rather than society E) dissociate social responsibility from commerce
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A) prevent unfair competition in the market
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Which of the following is most likely true about business legislation? A) Business laws are enforced only in international markets and not in local markets. B) Business laws fail to prevent unfair competition among the different companies in a market and tend to encourage monopolies. C) Business laws usually remain constant over time. D) Local, national, and state business laws rarely overlap with one another. E) Business laws that are enforced by government agencies have a major impact on a company's marketing performance.
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E) Business laws that are enforced by government agencies have a major impact on a company's marketing performance.
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An ethical concern about companies that use online marketing techniques and involve consumer information in the process is that these companies ________. A) fail to provide value-priced products for online customers B) track, share, and misuse browsing details of unknowing customers C) provide too many alternative products online which confuse customers D) rarely follow the marketing orientation when devising promotional offers online E) fail to reach their target customers through online marketing
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B) track, share, and misuse browsing details of unknowing customers
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Which of the following is an example of cause-related marketing? A) a firm selling groceries without using retail outlets B) a firm selling energy drinks and relying on social media C) a firm selling low-cost health insurance through online sites D) a firm selling hybrid and other low-emission automobiles E) a firm selling electronics and giving a percentage of sales to charity
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E) a firm selling electronics and giving a percentage of sales to charity
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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? A) joint venture marketing B) cause-related marketing C) niche marketing D) green marketing E) test marketing
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B) cause-related marketing
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Which of the following is most likely true about people's beliefs and values? A) Belief in marriage is a secondary belief for most Americans. B) Secondary beliefs and values cannot be changed. C) Marketers have a high chance of changing core beliefs and values. D) Secondary beliefs are passed on from parents to children. E) Core beliefs and values have a high degree of persistence.
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E) Core beliefs and values have a high degree of persistence.
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Which of the following is most likely a true statement about people's views about organizations? A) Many people view work at an organization as a required chore. B) People don't expect organizations to carry out society's work. C) Confidence in political organizations has increased in recent years. D) Loyalty towards employers has increased in the past two decades. E) Many people today see organizations as a source of personal satisfaction.
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A) Many people view work at an organization as a required chore.
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Which of the following is most likely a characteristic of firms that adopt a reactive approach toward the marketing environment? A) They develop strategies to change the marketing environment. B) They take advantage of the opportunities provided by the environment. C) They take aggressive actions to affect the marketing environment. D) They view the marketing environment as a controllable element. E) They do not accept the marketing environment as it is.
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B) They take advantage of the opportunities provided by the environment.
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Which of the following is most likely true about companies that take a proactive stance toward the marketing environment? A) They develop strategies to change the marketing environment. B) They believe that marketing strategies are bound by the current environment. C) They passively accept the marketing environment in its current state. D) They view the marketing environment as an uncontrollable element. E) They design strategies according to environmental forces in the market.
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A) They develop strategies to change the marketing environment.
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Which of the following marketing actions would a proactive organization most likely take? A) engaging in cause-related marketing activities B) passively accepting the marketing environment C) running advertorials to shape public opinion D) carefully monitoring the regulatory environment E) developing universally acceptable mission statements
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C) running advertorials to shape public opinion
