Question 1

Though once extremely important,the Baby Boomers generation is now declining as a major marketing force.

Accepted Answer

The answer of Though once extremely important,the Baby Boomers generation...

Question 2

Over the last few decades,the workforce has become more diverse.

Accepted Answer

The workforce has become more diverse due to globalization, increased immigration, and efforts to promote inclusivity and equal opportunity in the workplace.

Question 3

When you buy something as a reflection of your economic status,you're acting under social influences.

Accepted Answer

Purchasing items to reflect economic status is influenced by societal norms and the desire to fit in or stand out within a social group, demonstrating the impact of social influences on consumer behavior.

Question 4

As most prices are set when the product leaves the factory,good or bad economic news does not affect a firm's marketing activities

Accepted Answer

Good or bad economic news can affect consumer confidence and spending, which in turn can lead firms to adjust their marketing strategies, pricing, and promotional activities to better align with current market conditions.

Question 5

Although research shows the concept to be unfounded,members of Generation X were once thought of as "slackers."

Accepted Answer

The "slacker" stereotype was a common but unfounded generalization applied to Generation X, reflecting societal perceptions rather than research-based conclusions.

Question 6

Individuals go through a five-step process (need recognition,information search,evaluation,purchase,and post-purchase evaluation)in deciding which gas station to stop at to fill up their gas tank.

Accepted Answer

Choosing a gas station is typically a low-involvement decision that does not usually involve an extensive decision-making process like the five-step process described, which is more applicable to high-involvement purchases.

Question 7

When you are wondering if you picked the right college to attend,you are in the evaluation step in the buying process.

Accepted Answer

The evaluation step in the buying process occurs before making a decision, not after. Wondering if you picked the right college happens after the decision, in the post-purchase evaluation stage.

Question 8

The dairy industry still uses cow’s milk as the base for its varied products. Over time, however, competition from other types of milk has forced changes in the traditional American taste for milk, ice cream, cheese, cottage cheese, yogurt, frozen yogurt, and sherbet. Currently, for example, soy milk and other related items are making inroads in this traditional market.
-In this scenario,the product life cycle actually has _____.

Accepted Answer

The product life cycle is highly relevant in this scenario as it illustrates how traditional dairy products are facing competition from alternatives like soy milk, indicating shifts in consumer preferences and market dynamics over time.

Question 9

Psychological and social influences affect buying behavior.Examples of psychological influences are attitudes and personality.Examples of social influences are family and culture.

Accepted Answer

Psychological influences like attitudes and personality affect how individuals perceive products and make buying decisions, while social influences such as family and culture shape consumer preferences and behaviors through norms and values.

Question 10

The requirement that food labels reveal the trans-fat levels of foods reflects the influence of the political and regulatory environment.

Accepted Answer

This requirement is a result of government regulations aimed at informing consumers and promoting public health, demonstrating the impact of the political and regulatory environment on food labeling practices.

Question 11

Coke and Pepsi are brand competitors who have engaged in cola wars for decades.As long as Coke watches Pepsi and Pepsi watches Coke,both companies will remain competitive.There is no need to watch other companies.

Accepted Answer

While Coke and Pepsi are major competitors in the cola market, they also face competition from other beverage companies, including those offering different types of drinks such as energy drinks, bottled water, and teas. Monitoring a broad range of competitors is necessary for maintaining competitiveness in the ever-evolving beverage industry.

Question 12

Companies that sell clothes for teenagers and young adults have to know what these individuals wore last year.

Accepted Answer

Companies targeting teenagers and young adults need to focus on current and upcoming trends rather than what was worn last year, as fashion trends change rapidly.

Question 13

Even though Generation X individuals (born between 1965 and 1975)were once thought of as "slackers",they actually tend to be self-reliant and successful.

Accepted Answer

Despite the initial stereotype of being "slackers," research and observations over time have shown that individuals from Generation X are generally self-reliant, adaptable, and have achieved success in various fields, debunking the early generalizations.

Question 14

Marketers must keep abreast of technological advances to ward off threats to product profitability.

Accepted Answer

Technological advances can create new competitive products, change consumer behavior, or make existing products obsolete, thus impacting product profitability. Marketers need to stay informed to adapt strategies accordingly.

Question 15

When you're studying the information that you've gathered about a product,you're said to be in the evaluation step of the five-step consumer buying process.

Accepted Answer

The evaluation step in the five-step consumer buying process involves studying and comparing the information gathered about different products or services to make an informed decision.

Question 16

If you are considering buying a new bike,your first step in the buying process is to search for information on various brands of bicycles.

Accepted Answer

The answer of If you are considering buying a new...

Question 17

The dairy industry still uses cow’s milk as the base for its varied products. Over time, however, competition from other types of milk has forced changes in the traditional American taste for milk, ice cream, cheese, cottage cheese, yogurt, frozen yogurt, and sherbet. Currently, for example, soy milk and other related items are making inroads in this traditional market.
-Whole or 4% milk is in either the _____ or _____ stage of the product life cycle.

Accepted Answer

Whole or 4% milk is in the maturity or decline stage of the product life cycle due to competition from alternative milk products like soy milk, indicating a shift in consumer preferences and market saturation.

Question 18

Psychological influences affect the way we select,organize,and interpret information about buying a product.

Accepted Answer

Psychological factors such as perception, motivation, beliefs, and attitudes significantly influence consumer behavior, including how individuals select, organize, and interpret information when making purchasing decisions.

Question 19

Psychological and social influences come into play in decisions to buy a product.

Accepted Answer

Psychological factors such as attitudes, beliefs, and motivations, along with social influences like family, friends, and societal norms, significantly impact consumer decision-making processes when purchasing products.

Question 20

New technologies transform the marketing mix by altering the way companies market their products.

Accepted Answer

New technologies have significantly impacted the marketing mix (product, price, place, and promotion) by introducing new ways to reach and engage customers, personalize marketing efforts, and analyze consumer behavior, thus altering traditional marketing strategies.

Quiz 10: Marketing: Providing Value to Customers