Deck 3: Analyzing the Marketing Environment

Question 1

Mountain Equipment Co-op (MEC)has been highly successful in serving a segment of Generation Xers who value family,life experiences,and environmental sustainability.

Answer 1

True

Question 2

Banks,credit companies,and insurance companies are all referred to as physical distribution firms.

Answer 2

False

Question 3

The company's marketing environment also includes various publics.

Answer 3

True

Question 4

The macroenvironment consists of the factors close to the company that affect its ability to serve its customers,such as suppliers,customer markets,competitors,and publics.

Question 5

The marketing department in an organization makes its own decisions; other departments don't have any impact on the marketing department's plans and actions.

Question 6

Today's marketers must constantly watch and adapt to the changing environment in order to successfully build relationships with target customers.

Question 7

As baby boomers reach their peak earning and spending years,they become lucrative markets for financial services,travel,and entertainment.

Question 8

Millennials represent a larger demographic segment than the baby boomers or Gen Xers.

Question 9

The demographic environment is of major interest to marketers because it involves people,and people make up markets.

Question 10

Marketing research firms,advertising agencies,media firms,and marketing consulting firms are all referred to as marketing services agencies.

Question 11

Consumer organizations such as environmental and minority groups that may question a company's marketing decisions are referred to as local publics.

Question 12

No single competitive marketing strategy is best for all companies.

Question 13

Trudie Jones works for a distribution channel firm that helps several electronics companies find customers or make sales to them.Trudie works for a reseller.

Question 14

The microenvironment consists of larger societal forces that affect a company,such as demographic,economic,political,and cultural forces.

Question 15

Today's successful marketers recognize the importance of working with their intermediaries as channels through which they sell their products rather than as full-fledged partners.

Question 16

A company doesn't need to be concerned about the general public's attitude toward its products and activities.

Question 17

When marketing manager Suzie Kwan discusses factors and forces outside marketing,such as political ones that affect marketing management's ability to build and maintain successful relationships with target customers,she is talking about the external marketing concept.

Question 18

Millennials comprise the most commercially influential group in Canada today.

Question 19

The single most important demographic trend in Canada that marketers should understand is the changing family structure.

Question 20

Generation Xers have grown up and are now increasingly displacing the lifestyles,culture,and values of the baby boomers.

Question 21

The _____________includes suppliers,marketing intermediaries,customer markets,competitors,and publics.

Question 22

Companies in several industries have recognized the buying power of the gay and lesbian segment of the Canadian population and have begun explicitly targeting these consumers with gay-specific marketing efforts.

Question 23

The _____________ are the factors and forces outside the marketing department that affect marketing management's ability to build and maintain successful relationships with target customers.

Question 24

Marketing management cannot always control environmental forces.In many cases,it must settle for simply watching and reacting to the environment.

Question 25

Many marketers now recognize that the worlds of people with disabilities and those without disabilities will never be the same.

Question 26

By carefully studying the _____________,marketers can adapt their strategies to meet new marketplace challenges and opportunities.

Question 27

As indicated in the chapter opener,change in the ________ environment has had the most impact on the marketing strategy at Xerox.

Question 28

In Canada there are many laws created at the federal,provincial and territorial,and municipal levels,and these regulations often overlap.

Question 29

Marketers must increasingly consider the distinctive needs of traditional households because this segment of the population is growing more rapidly than nontraditional households.

Question 30

In the cultural environment,core values and beliefs and secondary values and beliefs differ in that the former are more open to change.

Question 31

________________ influence the company's ability to obtain funding.

Question 32

Marketing decisions are strongly affected by developments in the political environment.

Question 33

The _________ consists of the demographic,economic,natural,technological,political,and cultural factors that are affecting your company.

Question 34

Every new technology replaces an older technology.

Question 35

____________ help the company stock and move goods from their points of origin to their destinations.

Question 36

More government legislation and the green movement are the likeliest causes of a general decline in environmental concerns in the past decade.

Question 37

Significant trends in the natural environment include shortages of raw materials,increased pollution,and decreased government intervention.

Question 38

Cause-related marketing is a slowing trend as companies have abused the practice,using it more to increase sales than to support worthwhile causes.

Question 39

A company that buys from a larger organization and sells at a profit to smaller retailers is called _____________.

Question 40

Profitable business activity always creates a better quality of life.

Question 41

Noora DeLange is helping her company develop a marketing program for a new product line.The program involves emphasizing experience over acquisition and uses a marketing pitch that is less overt than the company's previous programs.The marketing program is most likely designed to appeal to which of the following demographic groups?

A) Gen Xers
B) Nontraditional households
C) "Metropolitan" populations
D) Millennials
E) Manufacturing workers

Question 42

In a ________ market,goods and services are purchased for further processing or for use in the production process.

Question 43

Innovations is a producer of electronic circuits that power a variety of technological devices produced by other companies.Innovations sell its products to ________ markets.

Question 44

In a ________ market,goods and services are purchased to produce public services or to transfer to others who need them.

Question 45

Perhaps the most important demographic trend in Canada for marketers to consider is the ________.

Question 46

Your marketing department is currently researching the gender,race,occupations,and other statistics of your target market that can be easily measured.Which environment is being researched?

A) Cultural
B) Psychographic
C) Economic
D) Geographic
E) Demographic

Question 47

An Internet site that shows news features and editorial opinions would be classified as a ________ public.

Question 48

_____________ are called the internal public.

Question 49

ING,an international insurance and financial services company,is the primary sponsor of the annual New York City Marathon,which is attended by over 1 million fans and watched by approximately 300 million viewers worldwide.The ING logo and name appear throughout the race course.ING most likely sponsors the event in order to appeal to which type of public?

A) Financial
B) Local
C) Government
D) General
E) Internal

Question 50

Which of the following descriptions most accurately characterizes the baby boomers?

A) They are increasingly likely to retire early.
B) They are a shrinking market for new housing and home remodelling.
C) They are past their peak earning and spending years.
D) They control over 50 percent of the country's wealth.
E) They are uninterested in adapting new technologies.

Question 51

______________ are called local publics.

Question 52

A _____________ may be offended by your company's decision to suddenly market itself as "eco friendly" to better appeal to the market.

Question 53

The ________ will form an important opinion on your company whether they are your customers or not

Question 54

Which of the following best explains why Gen Xers as a group may be more economically cautious than baby boomers?

A) Gen Xers grew up during times of corporate downsizing and recession.
B) Gen Xers watched much of their savings evaporate during the recession of the late 1980s.
C) Gen Xers are not as materialistic as members of other generations.
D) Gen Xers tend to seek more guidance from the financial services industry.
E) Gen Xers are more focused on saving for retirement than baby boomers are.

Question 55

Workers,managers,and members of the board are all part of a company's ________ public.

Question 56

A (An)________ is any group that has an actual or potential interest in,or impact on,an organization's ability to achieve its objectives

Question 57

The three largest generational groups in Canada are the baby boomers,Millennials,and ________.

Question 58

The ________ group is the richest and most affluent of all North Americans.

Question 59

Currently,Diego Calabresa is employed by a firm that conducts marketing research and creates ads for other companies that help them target and promote their products to the right markets.Who is Diego's employer?

A) A financial intermediary
B) A physical distribution firm
C) A marketing service agency
D) A reseller
E) A green marketer

Question 60

The youngest of the baby boomers are now in their ________

Question 61

Canadian cities are often surrounded by large suburban areas.Statistics Canada calls these combinations of urban and suburban populations ________.

Question 62

The Canadian population is becoming better educated.As of 2011,64 percent of the population had _____________________.

Question 63

A country with a(n)________ economy has rich markets for many different kinds of goods.

Question 64

About 43.5 percent of young Canadians aged 20 to 29 now live with their parents.This is indicative of what syndrome?

A) Crowded nest
B) Shrinking household
C) Empty nest
D) Lone-parent family
E) Early independence

Question 65

Which of the following descriptions most accurately characterizes Millennials?

A) They are children of baby boomers.
B) They are less ethnically diverse than Gen Xers.
C) They have reached their peak earning and spending years.
D) They were once labelled "the MTV generation."
E) They have graduated from college and are taking over positions of power in the business world.

Question 66

Large tween and teen markets belong to which demographic group?

A) Millennials
B) Generation X
C) Lost generation
D) Baby boomers
E) Generation Z

Question 67

Fifteen percent of Canadian households report that they have a home office.These workers are referred to as the ________ market.

Question 68

Wholesome Soups,a maker of organic soups,is starting a new marketing campaign emphasizing the ease of preparing and eating Wholesome Soups on the go.Print,television,and Internet ads feature college-aged students enjoying Wholesome Soups in between classes and during study breaks.Wholesome Soups' new marketing campaign is most likely aimed at which of the following?

A) Baby boomers
B) Seniors
C) Gen Xers
D) Millennials
E) The SOHO market

Question 69

Ameriprise Financial has published a Dream Book guide,one of the first steps in their Dream-Plan-Track approach to financial planning,as part of their strategy to attract ________ as customers

Question 70

Canadian women account for more than ________ percent of this country's workforce.

Question 71

Which of the following demographic trends is likely the most responsible for the increasing number of people who telecommute?

A) The migration toward metropolitan and suburban areas
B) The move from rural to metropolitan areas
C) The increasing number of nontraditional households
D) The growing percentage of married couples who do not have children
E) The declining number of manufacturing workers

Question 72

Which of the following descriptions most accurately characterizes Gen Xers?

A) There are more Gen Xers than Millennials.
B) They were the first generation to follow the Baby Boomers.
C) They grew up during times of great economic growth.
D) They are more interested in acquiring goods than having experiences.
E) They rarely research a product before purchasing it.

Question 73

Which demographic group is also referred to as the echo boomers?

A) Generation X
B) Generation Z
C) Millennials
D) Baby boomers
E) Baby busters

Question 74

Which of the following is a trend that depicts the increasingly nontraditional nature of today's Canadian family?

A) Working women are making up a smaller percentage of the workforce.
B) There are more families without children than with children.
C) Dual-income families are declining in number.
D) Stay-at-home dads are declining in number.
E) There is a declining reliance on convenience foods and services.

Question 75

Which of the following is an accurate statement about the diversity of the Canadian population?

A) Members of visible minority groups could account for roughly half of the population by 2017.
B) Over 5 million Canadians identified themselves as visible minorities in the 2006 census.
C) The Asian-Canadian percentage of the population is expected to remain steady in the next 50 years.
D) Fewer than eight ethnic groups in Canada are growing significantly and have well-developed media.
E) Canadian ethnic populations are expected to slowly increase in the next few decades.

Question 76

Which demographic group is characterized by a total fluency and comfort with computer,digital,and Internet technology?

A) Generation X
B) Seniors
C) Baby boomers
D) Generation Z
E) Millennials

Question 77

The ________ environment consists of factors that affect consumer purchasing power and spending patterns.

Question 78

Which group has considerable spending power,as well as great need for tailored products and services,and represents 14.3 percent of the Canadian population (4.4 million people)?

A) People with disabilities
B) Gays and lesbians
C) Visible minorities
D) Environmentalists
E) Millennials

Question 79

Which growing consumer group in Canada tends to be cosmopolitan and professional with high incomes?

A) Gen Xers
B) Gays and lesbians
C) Millennials
D) Echo boomers
E) Environmentalists

Question 80

Because of increasing ________,Canadians will demand higher quality products,books,magazines,travel,computers,and Internet services.