Chapter 3 Study – Flashcards
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Actors close to the firm that affect its ability to serve its​ customers, such as​ suppliers, marketing​ intermediaries, and​ competitors, are all components of a​ company's ________. A. technological environment B. economic environment C. natural environment D. microenvironment E. macroenvironment
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D. microenvironment
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Significant change in the age structure of a population is one example of the impact of the​ firm's ________. A. microenvironment B. political environment C. economic environment D. natural environment E. macroenvironment
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E. macroenvironment
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Which of the following correctly lists actors in a​ company's microenvironment? A. ​Publics, demographics,​ suppliers, and competitors B. Suppliers, marketing​ intermediaries, technology, and publics C. Suppliers, marketing​ intermediaries, competitors, and culture D. The​ economy, publics,​ competitors, and suppliers E. Competitors, marketing​ intermediaries, suppliers, and publics
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E. Competitors, marketing​ intermediaries, suppliers, and publics
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The most important actors in the​ company's microenvironment are​ ________. A. publics B. suppliers C. competitors D. customers E. company departments
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D. customers
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One challenge that marketers face regarding the macroenvironment is that​ ________. A. ​competitors' actions are not always predictable B. because actors in this environment are close to the​ company, they are sometimes overlooked C. changes in this environment are often unforeseeable and uncontrollable D. forces in this environment are​ stable, so marketers must strive to innovate E. because changes are​ predictable, the company has no advantage over competitors
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C. changes in this environment are often unforeseeable and uncontrollable
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The macroenvironment consists of larger societal​ forces, which include​ ________. A. cultural​ forces, technology, and customers B. economic​ forces, political​ forces, and competitors C. media, local, and financial publics D. economic, political, and cultural forces E. competitors, publics, and customers
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D. economic, political, and cultural forces
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Following the Great​ Recession, U.S. consumers have now adopted a​ back-to-basics sensibility in their lifestyles and spending patterns that will likely persist for years to come. Marketers in all​ industries, in​ turn, are looking for ways to offer​ today's more financially frugal buyers greater​ value, an approach known as​ ________. A. market targeting B. value marketing C. differentiated positioning D. socially responsible marketing E. customer-oriented strategy
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B. value marketing
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Companies such as​ P&G, Walmart, and Levi Strauss have recognized the growing​ ________ in the U.S. population by targeting specially designed​ products, ads, and promotions to appeal to one or more​ ethnic, racial, or​ lifestyle-based groups. A. number of dual income families B. millennial market C. income inequality D. diversity E. illegal immigration
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D. diversity
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According to the​ text, what is the single most important demographic trend in the United States​ today? A. Increasing diversity B. Changes in the American family C. The changing age structure of the population D. Geographic population shifts E. A​ better-educated population
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C. The changing age structure of the population
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Which of the following statements is correct regarding the current demographic​ environment? A. The ethnic diversity of the U.S. population should remain stable in the years to come. B. The U.S. population is rapidly getting older. C. There are few differences between different generational groups. D. The LGBT community is not an attractive target for marketers. E. The combined size of the Millennials and Gen Z has resulted in the U.S. population getting younger.
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B. The U.S. population is rapidly getting older.
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Ford offers a wide variety of cars that range from around​ $14,000 to over​ $54,000. This reflects which economic​ factor? A. Tax rates B. Consumer spending C. Income distribution D. Interest rates E. A developing economy
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C. Income distribution
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Demography studies statistics include​ ________. A. the​ economy, technology, and age structure of the population B. age, race, and lifestyle C. population​ size, density, and spending patterns D. age, gender,​ race, and occupation E. age, gender, the​ economy, and race
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D. age, gender,​ race, and occupation
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Damage caused by the recent earthquake and tsunami in Japan had a devastating effect on the ability of Japanese companies such as Sony and Toyota to meet worldwide demand for their products. This is an example of how the​ ________ can impact marketing decision making. A. value delivery network B. technological environment C. microenvironment D. economic environment E. natural environment
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E. natural environment
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Disney's MagicBand RFID bracelet enables guests to enter a park or​ attraction, buy dinner or​ souvenirs, or even unlock their hotel room with a flick of the wrist. This is an example of how the​ ________ is impacting customer experiences and marketing decision making. A. microenvironment B. economic environment C. natural environment D. value delivery network E. technological environment
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E. technological environment
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Which of the following is an important trend in the natural environment that marketers should be aware​ of? A. Lack of consumer concern for the environment B. Products that require scarce resources facing large cost increases C. Decreased pollution D. The increase of availability of raw materials E. Cost decreases for nonrenewable resources
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B. Products that require scarce resources facing large cost increases
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Which of the following is true of environmental​ sustainability? A. Sustainability is​ important, but a​ company's core mission should focus on profits and customers. B. Sustainability requires​ trade-offs between present needs and needs of future generations. C. Energy-efficient operations are unrelated to sustainability. D. Following government regulations is sufficient to support sustainability. E. Companies are learning that engaging in sustainable practices is good for business.
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E. Companies are learning that engaging in sustainable practices is good for business.
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One important new technology is​ ________, which can track products from point of production to their usage and disposal. A. bar code scanning B. robotics C. RFID D. smartphones E. the Internet
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C. RFID
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Which of the following is true regarding the technological​ environment? A. As products and technology become more​ complex, safety becomes less of a concern. B. The pace of technological change is slowing down. C. Companies must keep up with changes in technology or risk being left behind. D. Technological changes are the second most dramatic force in the macroenvironment after the economy. E. Changes in technology are always beneficial to consumers and society.
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C. Companies must keep up with changes in technology or risk being left behind.
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Regulation arises to ensure that firms take responsibility for the social costs associated with the production and consumption of their products.​ Therefore, regulation of business is desirable in order to protect​ ________. A. consumers from unfair business practices B. shareholders from losses C. companies from each other D. the interests of society E. the interests of labor unions and their members
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D. the interests of society
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To exercise their social responsibility and build more positive​ images, many companies are now linking themselves to worthwhile charitable organizations and social​ issues, a practice known as​ ________. A. value marketing B. ​cause-related marketing C. public policy D. corporate philanthropy E. socially responsible behavior
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B. ​cause-related marketing
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One important reason that business legislation is enacted is to​ ________. A. remove legal regulations from our free market economy B. ensure that competition is unregulated C. provide legal guidelines for businesses and marketers without actually enforcing them D. protect consumers from unfair business practices E. ensure that companies make profits
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D. protect consumers from unfair business practices
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As a direct result of the explosion in digital​ technology, one area that advocates and policy makers are taking action on is​ ________. A. unsafe products B. fair pricing C. invasion of privacy D. to enforce international trade policies E. truth in advertising
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C. invasion of privacy
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In the United​ States, patriotism has increased in recent years. Marketers have responded with increased use of the​ "Made in​ America" appeal and patriotic themes. This reflects which aspect of​ culture? A. ​People's views of nature B. People's views of organizations C. People's views of others D. People's views towards society E. People's views of themselves
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D. People's views towards society
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One result of changes in​ people's views of nature is​ ________. A. a decline in organizational loyalty B. the growth of the lifestyles of health and sustainability​ (LOHAS) market C. marketing teas that appeal to making a person feel well both physically and mentally. D. a renewed interest in spirituality E. the increase in mass mingling through online social media
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B. the growth of the lifestyles of health and sustainability​ (LOHAS) market
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In response to a recent online hoax that went​ viral, McDonald's quickly issued statements disclaiming a widely distributed​ "pink goop" photo and noting that McNuggets were made using only boneless white breast meat chicken in a process that never produces anything remotely resembling the weird pink substance. This case is an example of a firm taking a​ ________ stance toward its marketing environment. A. differentiated B. sustainable C. socially responsible D. reactive E. proactive
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E. proactive
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Companies that view the marketing environment as an uncontrollable element are more likely to take​ a(n) ________ approach toward environmental change. A. reactive B. socially responsible C. proactive D. environmentally sustainable E. differentiated
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A. reactive
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Being proactive towards the marketing environment means that​ ________. A. a company avoids threats B. a company develops strategies to change the environment C. a company passively accepts the way things are D. a company watches the environment and follows what competitors do E. a company watches the environment and reacts to changes
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B. a company develops strategies to change the environment
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A firm can be proactive by​ ________. A. monitoring social media B. pressing lawsuits to keep competitors in line C. waiting for other firms to respond to changes in the environment D. reacting to changes in the environment as they occur E. following existing laws
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B. pressing lawsuits to keep competitors in line
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A firm is concerned about how to respond to changes in its marketing environment. What advice would you give the​ firm? A. Watch what​ happens, and then respond. B. If its current strategy is​ working, there is no need to change it. C. Whenever​ possible, take a proactive approach to the environment. D. Don't do anything until you see what your competitors are going to do. E. Things always change. There is not much that can be done about that.
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C. Whenever​ possible, take a proactive approach to the environment.
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Companies who passively accept the marketing environment​ ________. A. assume that their strategic options are not bounded by the current environment B. form contractual agreements to control their distribution channels C. develop strategies to change the environment D. use lobbying to influence legislation E. view it as uncontrollable and do not attempt to change it
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E. view it as uncontrollable and do not attempt to change it
