MAR 301 Final Ch 3 – Flashcards

Unlock all answers in this set

Unlock answers
question
Numbering 49 million or‚Äč more, this group of consumers is sometimes overlooked because it is less materialistic than other groups and prizes‚Äč experience, not acquisition.
answer
Generation X
question
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‚Äč company?
answer
‚ÄčSophie's Soups refusing to counter false allegations of rat feces in its soups
question
The major cultural values of a society are expressed by‚Äč _________.
answer
‚Äčpeople's views of themselves and‚Äč others, as well as their views of‚Äč organizations, society,‚Äč nature, and the universe
question
Which of the following BEST describes a duty that would fall under the jurisdiction of the‚Äč FDA?
answer
Checking the quality of food that is served in school lunches
question
The purpose of business legislation is primarily based on‚Äč ________.
answer
protection
question
Which of the following is NOT a problem involving the natural environment that marketers need to‚Äč consider?
answer
The aging U.S. population
question
‚ÄčTina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six‚Äč years, sales have continuously declined and profits have almost completely disappeared. The CEO of‚Äč Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to‚Äč Tina's Tunes?
answer
‚ÄčTina's Tunes is likely to fail because it is ignoring the technological environment.
question
‚ÄčChicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes‚Äč young, urban professionals who want new‚Äč style, organic pizzas with exotic ingredients.‚Äč However, in recent‚Äč years, the population in the‚Äč pizzeria's neighborhood has been shifting and fewer‚Äč young, urban professionals live there. The population has grown older and wants traditional‚Äč pizza, not pizza with exotic ingredients. Which of the following identifies the‚Äč pizzeria's BEST response to this‚Äč situation?
answer
Target a new market with a different product.
question
The Fair Packaging and Labeling Act in the United States enforces laws for what‚Äč reason?
answer
To protect consumers from fraudulent packaging and labeling
question
The group of economic factors that affect‚Äč consumers' purchasing power and spending patterns is called‚Äč ________.
answer
the economic environment
question
The role of a‚Äč company's marketing intermediaries is to do which of the‚Äč following?
answer
Help the company‚Äč find, promote,‚Äč sell, and distribute products
question
To be‚Äč successful, why should companies try to adopt a proactive stance on‚Äč marketing?
answer
A proactive stance allows a company to influence the market in its favor.
question
‚ÄčBeverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the‚Äč 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‚Äč restaurant's Facebook page. What BEST describes‚Äč Beverly's Burgers response to the‚Äč allegations?
answer
Proactive
question
Dylan Parker owns 27 acres on a farmstead in Iowa.‚Äč Recently, as he was plowing a‚Äč field, he came across a rich silver vein in the ground. Realizing his‚Äč bounty, he decided to open a new business selling silver. Not knowing much about the marketing‚Äč environment, he asks you what he should do. Which of the following is the BEST‚Äč advice?
answer
Dylan should focus on the business market and sell the raw silver for further processing.
question
‚ÄčOverall, how has the American population changed over‚Äč time?
answer
It has become more‚Äč diverse, better‚Äč educated, and more mobile.
question
How does the microenvironment of a company differ from its‚Äč macroenvironment?
answer
The microenvironment deals with the‚Äč company, suppliers, marketing‚Äč intermediaries, customer‚Äč markets, competitors, and publics.
question
To exercise their social‚Äč responsibility, many companies are linking themselves to what type of‚Äč marketing?
answer
‚ÄčCause-related
question
Wonders such as robotic‚Äč surgery, miniaturized‚Äč electronics, and antibiotics can be attributed to which marketing‚Äč environment?
answer
Technological
question
Which of the following identifies a change in the technological environment that could affect the success of a‚Äč business?
answer
A company develops a new battery that lasts twice as long as its predecessor.
question
‚ÄčNoah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial‚Äč situation?
answer
Work out a plan with its financial intermediaries
question
The‚Äč Children's Online Privacy Protection Act in the United States enforces laws for what‚Äč reason?
answer
Prohibits online service operators from collecting personal information from children
question
A wedding services company changes its marketing strategy to reflect the fact that more LGBT‚Äč (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‚Äč analyze?
answer
Cultural
question
The‚Äč demographic, economic,‚Äč natural, technological,‚Äč political, and cultural forces that affect a‚Äč company's ability to serve its customers make up which of the‚Äč following?
answer
Macroenvironment
question
From a marketing‚Äč standpoint, which of the following BEST describes Baby‚Äč Boomers?
answer
They constitute a lucrative market for financial‚Äč services, new housing and home‚Äč remodeling, new‚Äč cars, travel and‚Äč entertainment, eating‚Äč out, and health and fitness products.
question
Roper's Radical Racers is an upscale company that sells cars primarily to racecar drivers and movie producers. In the‚Äč past, Roper's Radical Racers marketed itself to the‚Äč fun-loving driver‚ÄĒthe driver who wanted to‚Äč "race with‚Äč life." However, in the current‚Äč economy, Roper's has changed its slogan to‚Äč "superior speed, superior‚Äč savings." Roper's Radical Racers is engaging in which of the‚Äč following?
answer
Value marketing
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New