Chp 3 MKT 600 Quiz – Flashcards

The role of a​ company's marketing intermediaries is to do which of the​ following? A. Provide the resources needed by the company to produce goods and services B. Determine which products a company should market C. Help the company​ find, promote,​ sell, and distribute products D. Purchase the​ company's product E. Manage the​ company's human resources efforts

The​ demographic, economic,​ natural, technological,​ political, and cultural forces that affect a​ company's ability to serve its customers make up which of the​ following? A. Microenvironment B. Cultural environment C. Macroenvironment D. Technological environment E. Marketing environment

Noah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial​ situation? A. Work out a plan with its financial intermediaries B. Reexamine its relationship with its resellers C. Find a new physical distribution firm D. Devise a marketing plan with a marketing service agency E. Analyze the finances of one of its competitors

Dylan Parker owns 27 acres on a farmstead in Iowa.​ Recently, as he was plowing a​ field, he came across a rich silver vein in the ground. Realizing his​ bounty, he decided to open a new business selling silver. Not knowing much about the marketing​ environment, he asks you what he should do. Which of the following is the BEST​ advice? A. Dylan should reach out to reseller markets to sell his silver quickly. B. Dylan should focus on farming and ignore the silver vein. C. Dylan should focus on the consumer market and sell silver directly for personal consumption. D. Dylan should focus on the business market and sell the raw silver for further processing. E. Dylan should set his attention to the government markets.

How does the microenvironment of a company differ from its​ macroenvironment? A. The microenvironment deals with the big​ problem, whereas the macroenvironment deals with trivial problems. B. The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics. C. The microenvironment affects a larger portion of the company than the macroenvironment. D. The microenvironment is​ company-based, whereas the macroenvironment is​ customer-based. E. The microenvironment uses more financial resources than the macroenvironment.

The group of economic factors that affect​ consumers' purchasing power and spending patterns is called​ ________. A. the value market B. macroenvironment C. the economic environment D. income distribution E. demographic information

Numbering 49 million or​ more, this group of consumers is sometimes overlooked because it is less materialistic than other groups and prizes​ experience, not acquisition. A. Senior citizens B. Baby boomers C. Generation X D. Echo boomers E. Generation Z

Roper's Radical Racers is an upscale company that sells cars primarily to racecar drivers and movie producers. In the​ past, Roper's Radical Racers marketed itself to the​ fun-loving driverlong dash—the driver who wanted to​ "race with​ life." However, in the current​ economy, Roper's has changed its slogan to​ "superior speed, superior​ savings." Roper's Radical Racers is engaging in which of the​ following? A. Income distribution B. Market consideration C. Price slashing D. Diversity targeting E. Value marketing

Overall, how has the American population changed over​ time? A. It has become closer knit and more​ family-oriented. B. It has become more skeptical about marketing schemes. C. It has become more likely to develop brand loyalty. D. It has become​ wealthier, more​ cultured, and more frivolous in its spending habits. E. It has become more​ diverse, better​ educated, and more mobile

From a marketing​ standpoint, which of the following BEST describes Baby​ Boomers? A. They constitute a lucrative market for financial​ services, new housing and home​ remodeling, new​ cars, travel and​ entertainment, eating​ out, and health and fitness products. B. They are more likely to be receptive to irreverent ad pitches that make fun of convention and tradition. C. They blend the online and offline worlds seamlessly as they socialize and shop. D. They tend to research products before they consider a purchase. E. They are slowing down as they age

Which of the following is NOT a problem involving the natural environment that marketers need to​ consider? A. Greenhouse gases B. Raw material shortages C. Pollution D. The aging U.S. population E. Government regulations

Wonders such as robotic​ surgery, miniaturized​ electronics, and antibiotics can be attributed to which marketing​ environment? A. Political B. Cultural C. Natural D. Technological E. Social

Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six​ years, sales have continuously declined and profits have almost completely disappeared. The CEO of​ Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to​ Tina's Tunes? A. ​Tina's Tunes is likely to fail because it is ignoring the current political environment. B. ​Tina's Tunes is likely to fail because it is ignoring the natural environment. C. ​Tina's Tunes will experience a rebound as the fear of the Great Recession declines. D. ​Tina's Tunes is likely to fail because it is ignoring the technological environment. E. ​Tina's tunes are likely to prosper as mistrust in the digital age increases.

Which of the following identifies a change in the technological environment that could affect the success of a​ business? A. A company develops a new battery that costs twice as much as its predecessor. B. A company develops a new battery that lasts twice as long as its predecessor. C. A company develops a new warranty that lasts as long as its predecessor. D. A company develops a customer support program that customers rate twice as responsive as the previous program. E. A company packages its product to be twice the size of its predecessor.

Which of the following BEST describes a duty that would fall under the jurisdiction of the​ FDA? A. Investigating customer complaints about a business B. Checking the quality of food that is served in school lunches C. Ensuring that pollution standards are met by a company D. Protecting the legal status of a company E. Evaluating whether an advertisement to be aired in public is fitting

The purpose of business legislation is primarily based on​ ________. A. rehabilitation B. punishment C. protection D. guidance E. education

The major cultural values of a society are expressed by​ _________. A. ​people's views of themselves B. ​people's views of organizations C. ​people's views of themselves and​ others, as well as their views of​ organizations, society,​ nature, and the universe D. ​people's views of society E. ​people's views of the universe

A wedding services company changes its marketing strategy to reflect the fact that more LGBT​ (lesbian/gay/bisexual/transgender) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company​ analyze? A. Political B. Economic C. Cultural D. Natural E. Technological

To exercise their social​ responsibility, many companies are linking themselves to what type of​ marketing? A. Generational B. Technological C. Intermediaries D. ​Cause-related E. Environmental

The Fair Packaging and Labeling Act in the United States enforces laws for what​ reason? A. To protect consumers from fraudulent packaging and labeling B. To protect the public from the unethical actions of big business C. To protect the environment from over pollution by companies D. To protect the interests of society against unrestrained business behavior E. To control trade policies and regulations

The​ Children's Online Privacy Protection Act in the United States enforces laws for what​ reason? A. Makes​ deceptive, misleading, and unfair practices illegal regardless of injury to competition B. Prohibits online service operators from collecting personal information from children C. Bans the sale of hazardous toys and articles D. Regulates the distribution of unsolicited commercial​ e-mail E. Establishes procedures to avoid unwanted telephone solicitations

Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes​ young, urban professionals who want new​ style, organic pizzas with exotic ingredients.​ However, in recent​ years, the population in the​ pizzeria's neighborhood has been shifting and fewer​ young, urban professionals live there. The population has grown older and wants traditional​ pizza, not pizza with exotic ingredients. Which of the following identifies the​ pizzeria's BEST response to this​ situation? A. Run an ad campaign on the health benefits of pizza. B. Sell a different food​ product, such as hamburgers or sushi. C. Cut the prices on its pizza. D. Be proactive and convince customers that​ "exotic is​ better." E. Target a new market with a different product.

Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the​ claims, the restaurant called in a company to test not only its veggie burgers but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the​ restaurant's Facebook page. What BEST describes​ Beverly's Burgers response to the​ allegations? A. Determinative B. Steadfast C. Reactive D. Passive E. Proactive

To be​ successful, why should companies try to adopt a proactive stance on​ marketing? A. A proactive stance ensures that a company will increase its market share. B. A proactive stance allows a company to let the market determine prices for its products. C. A proactive stance allows a company to compete with its competitors on quality alone. D. A proactive stance allows a company to compete with its competitors on pricing alone. E. A proactive stance allows a company to influence the market in its favor.

Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive​ company? A. ​Sander's Shoes staging a breast cancer walkathon to gain favorable press coverage B. Airway Industries filing a lawsuit to keep its competitor from forming a monopoly C. ​Richard's Rifles hiring lobbyists to influence gun legislation D. ​Tim's Tobacco creating a blog to help shape public opinion E. ​Sophie's Soups refusing to counter false allegations of rat feces in its soups