Deck 3: The Marketing Environment

Question 1

Banks,credit companies,insurance companies,and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________.

A) financial intermediaries
B) physical distribution firms
C) marketing services agencies
D) resellers
E) wholesalers

Answer 1

financial intermediaries

Question 2

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

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

Answer 2

a marketing services agency

Question 3

Which type of organization helps companies to stock and move goods from their points of origin to their destination?

A) financial intermediaries
B) physical distribution firms
C) marketing services agencies
D) resellers
E) suppliers

Answer 3

physical distribution firms

Question 4

Which type of market buys goods and services to produce public services or to transfer them to others who need them?

A) government
B) reseller
C) wholesale
D) consumer
E) retail

Question 5

Which of the following is NOT a type of factor in a company's macroenvironment?

A) demographic
B) economic
C) technological
D) competitive
E) political

Question 6

All of the groups within a company are called the ________.

A) cultural environment
B) local public
C) internal environment
D) corporate culture
E) general public

Question 7

Which of the following is NOT an example of the type of public that is part of a company's marketing environment?

A) financial
B) media
C) government
D) citizen-action
E) marketing department

Question 8

Your marketing department is currently researching the size,density,location,age,and occupations of your target market.Which environment is being researched?

A) demographic
B) psychographic
C) economic
D) geographic
E) cultural

Question 9

Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?

A) the marketing environment
B) the cultural environment
C) strategic planning
D) target markets
E) the marketing mix

Question 10

Which type of market buys goods and services for further processing or for use in the production process?

A) business
B) reseller
C) wholesale
D) consumer
E) retail

Question 11

A radio station that carries news,features,and editorial opinions about your area is which type of public?

A) financial
B) media
C) citizen-action
D) general
E) government

Question 12

China's _____________,now ranging in age from newborns to the early 30s,is affecting markets for everything from children's products to financial services,mobile phone services,and luxury goods.

A) Me generation
B) Baby Boomers
C) Generation X
D) Generation Y
E) aging population

Question 13

You are directed to study the demographic,economic,natural,technological,political,and cultural factors that are larger societal forces affecting your company.What are you studying?

A) the macroenvironment
B) the microenvironment
C) the internal environment
D) the marketing mix
E) the global environment

Question 14

A consumer organization,environmental group,or minority group has challenged your firm's stand on a local issue.Your firm is being challenged by a ________ public.

A) local
B) general
C) government
D) citizen-action
E) media

Question 15

The three largest generational groups are the baby boomers,Generation X,and ________.

A) seniors
B) Millennials
C) teens
D) tweens
E) toddlers

Question 16

Rachel Poh works for a wholesale company called Distributors Pte Ltd.She is responsible for buying and selling goods at a profit to small retailers.What is her market?

A) business
B) reseller
C) wholesale
D) consumer
E) retail

Question 17

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

A) general
B) internal
C) local
D) intermediary
E) market

Question 18

You are directed to study the actors close to the company that affect its ability to serve its customers-departments within the company,suppliers,marketing intermediaries,customer markets,competitors,and publics.What are you studying?

A) the macroenvironment
B) the microenvironment
C) the marketing environment
D) the demographic environment
E) the global environment

Question 19

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

A) team
B) competitor
C) market
D) public
E) intermediary

Question 20

_________ markets cater to individuals and households that buys goods and services for personal consumption.

A) business
B) reseller
C) government
D) consumer
E) marketing intermediary

Question 21

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

A) numbers of non-traditional families
B) family size
C) numbers of educated people
D) social class awareness
E) ethnic diversity

Question 22

The _______ class must stick close to the basics of food,clothing,and shelter and must try hard to save.

A) working
B) affluent
C) lower
D) independent
E) middle

Question 23

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 labeled "the MTV generation."
E) They are less immersed in technology than Gen Xers are.

Question 24

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

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

Question 25

Which of the following descriptions most accurately characterizes Gen Xers?

A) There are more Gen Xers than Millennials.
B) They were the first generation of latchkey kids.
C) They are less educated than the boomers.
D) They are more interested in acquiring goods than having experiences.
E) They rarely research a product before purchasing it.

Question 26

Some countries have _________ economies,which constitute rich markets for many different kinds of goods.

A) agricultural
B) subsistence
C) farming
D) industrial
E) natural

Question 27

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

A) Generation X
B) Millennials
C) the elderly
D) Generation Z
E) baby boomers

Question 28

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 remodeling.
C) They are past their peak earning and spending years.
D) They are likely to postpone retirement.
E) They are uninterested in adapting new technologies.

Question 29

The rising number of ______________ will increase the demand for quality products,books,
magazines,travel,personal computers,and Internet services.

A) educated people
B) men staying at home with their children
C) nontraditional households
D) nonfamily households
E) women working outside of the home

Question 30

At Singapore's Changi Airport,recycling is encouraged with recycling points placed at various locations within the airport.The company recognizes the link between a healthy ecology and a _________________.

A) healthy environment
B) waste management system
C) healthy economy
D) healthy recycling program
E) passenger friendly environment

Question 31

As a generational group,________ may have more money but they are also likely to be careful with it.

A) Baby Boomers
B) Generation X
C) the Millennials
D) echo boomers
E) seniors

Question 32

Levi's has Eco jeans made from organic cotton.The company supports ________________.

A) social sustainability
B) environmental sustainability
C) resource sustainability
D) social class awareness
E) new product development

Question 33

In Singapore,many dating couples are putting off marriage.The ______________ does not seem to be a priority.

A) core belief of having children
B) core belief of marriage
C) belief in dual-income families
D) belief in stay-at-home dads
E) secondary belief of having children

Question 34

Changes in major _________ variables such as income,cost of living,interest rates,and savings and borrowing patterns have a large impact on the marketplace.

A) demographic
B) economic
C) geographic
D) psychographic
E) cultural

Question 35

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

A) social-cultural
B) political-legal
C) technological
D) economic
E) natural

Question 36

The youngest of the baby boomers are now in their ________.

A) late 20s
B) mid-20s
C) mid-40s
D) early 50s
E) early 60s

Question 37

The _______ environment involves natural resources that are needed as inputs by marketers,or affected by marketing activities.

A) demographic
B) natural
C) economic
D) political
E) technological

Question 38

The "Pink Dollar" is being courted in more conservative Asia where the gay and lesbian community has the potential to be extremely ________ as customers.

A) affluent
B) fickle
C) discerning
D) thrifty
E) loyal

Question 39

Large tween and teen markets belong to which demographic group?

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

Question 40

Marketers should pay attention to ______ distribution as well as _______ income.

A) farming; average
B) rural; average
C) population; average
D) income; average
E) wealth; average

Question 41

The major cultural values of a society are expressed in people's views of ________.

A) organizations
B) society
C) everyday life
D) the universe
E) all of the above

Question 42

The _____________ environment includes forces that create new technologies,creating new product and market opportunities.

A) cultural
B) political
C) technological
D) economic
E) natural

Question 43

The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.

A) raw material market
B) natural environment
C) endangered environment
D) green movement
E) factors of production

Question 44

The ________ environment includes laws,government agencies,and pressure groups that influence or limit various organizations and individuals in a given society.

A) socio-legal
B) cultural
C) political
D) legal-technological
E) economic

Question 45

Business legislation has been created for three basic reasons: to protect companies from each other,to protect the interests of society,and to ________.

A) protect consumers
B) regulate prices
C) increase world trade
D) regulate monopolies
E) promote social responsibility

Question 46

Many firms today use RFID technology to ________.

A) identify new target markets
B) analyze threats and opportunities in the macroenvironment
C) move toward environmental sustainability
D) track their products electronically anywhere in the world, anytime, automatically
E) track patterns of consumer online behavior

Question 47

_________________ and values are more open to change.

A) Core beliefs
B) Culture
C) Religion
D) Ethics
E) Secondary beliefs

Question 48

The rash of business scandals such as the tainted milk scare in China and increased concerns about the environment,especially after the tsunami and nuclear disasters in Japan,have created fresh interest in the issues of ______ and _____________________.

A) ethics; promotion responsibility
B) ethics; social responsibility
C) finances; employee discrimination
D) management ethics; insider trading
E) promotion; pricing

Question 49

Which of the following has encouraged marketers to go beyond what is required by law and pursue environmental sustainability?

A) the government
B) the black market
C) the green movement
D) deregulation
E) green intervention

Question 50

People's orientation to their society influences their attitudes toward the marketplace and their consumption _____.

A) desires
B) needs
C) patterns
D) wants
E) habits

Question 51

Marketers can take ________ by taking aggressive action to affect the publics and forces in their marketing environments.

A) an environmental perspective
B) a proactive stance
C) a natural perspective
D) a natural management perspective
E) a relationship-building perspective

Question 52

The major _______________ of a society are expressed in people's views of themselves and others,as well as in their views of organizations,society,nature,and the universe.

A) desires
B) needs
C) patterns
D) wants
E) cultural values

Question 53

A society's institutions and other forces that shape its basic values,perceptions,preferences,and behaviors are its ________ environment.

A) social
B) cultural
C) socio-cultural
D) cultural-economic
E) natural

Question 54

Which of the following represents the most dramatic force shaping a marketer's destiny?

A) technological environment
B) natural environment
C) legal-political environment
D) deregulation
E) partnership marketing

Question 55

A country with an industrial economy has rich markets for many _____________.

A) different kinds of goods
B) similar kinds of goods
C) different consumers
D) similar consumers
E) different kinds of businesses

Question 56

Unlike bar coding,each RFID tag cannot be scanned twice.Hence,there is no picking the wrong case and ______________.

A) no need to count
B) no double scanning
C) no tracking
D) no miscounting
E) no delivery error

Question 57

A country with a(n)________ economy consumes most of its own agricultural and industrial outputs and offers few market opportunities.

A) industrial
B) service
C) technological
D) subsistence
E) developing

Question 58

The ____________ is somewhat careful about its spending but can still afford the good life some of the time.

A) upper class
B) middle class
C) lower class
D) working class
E) None of the above.

Question 59

Marketers are aware of laws,government agencies,and pressure groups that influence or limit various organizations and individuals in a given society.We call this the ________ environment.

A) socio-legal
B) legal-cultural
C) political
D) legal-technological
E) economic

Question 60

___________ regulations protect consumers from unfair business practices.

A) Company
B) Government
C) Political
D) Technological
E) Environmental

Question 61

Asian Movers helps move and store the products your company sells.This company is an example of a_______________.

A) reseller
B) marketing services agency
C) marketing intermediary
D) physical distribution firm
E) geographic segment

Question 62

Singapore Telecommunications sponsors the Formula 1 Grand Prix.The Singtel logo and name appear throughout the race course.Singtel most likely sponsors the event in order to appeal to which type of public?

A) financial
B) citizen-action
C) government
D) general
E) internal

Question 63

Marketers should understand that a society's core beliefs and values have a high degree of ________.

A) persistence
B) flexibility
C) similarity
D) ethnocentrism
E) conformity

Question 64

Cause-related marketing is a(n)________.

A) response to customer needs
B) primary form of environmental awareness
C) primary form of corporate giving
D) lobbying response to corporate legislative problems
E) attempt to influence consumers' core beliefs

Question 65

Banks,credit companies,insurance companies,and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ________.

A) resellers
B) wholesalers
C) marketing service agencies
D) physical distribution firms
E) financial intermediaries

Question 66

Your company is making negotiations to enter a market in Vietnam.You would most likely discover that ________ beliefs and values are open to change in this country.

A) inherited
B) secondary
C) primary
D) core
E) traditional

Question 67

The primary concern for consumers with the boom in Internet marketing is ________.

A) accessibility
B) false advertising
C) privacy
D) sustainability
E) social responsibility

Question 68

Huayu,a mall popular among locals in western Beijing,put up a 20-meter Christmas tree
outside its main entrance to attract shoppers.This reflects shifts in China's _________________.

A) social codes
B) secondary cultural values
C) demographics
D) public policies
E) economies

Question 69

For _____________,although they seek success,they are less materialistic and prize experience,not acquisition.

A) China's Me generation
B) Baby Boomers
C) Generation X
D) Echo Boomers
E) Millennials

Question 70

Smart marketing managers will take a _________________ approach to the marketing environment.

A) reactive rather than proactive
B) proactive rather than reactive
C) differentiated
D) unique rather than a traditional
E) analytical

Question 71

__________ markets consist of buyers in other countries,including consumers,producers,resellers,and governments.

A) International
B) Consumer
C) Reseller
D) Government
E) Business

Question 72

Beyond written laws and regulations,business is also governed by social codes and rules of ___________________.

A) professional ethics
B) marketing ethics
C) enforcement
D) privacy
E) consumer engagement

Question 73

Suppliers form an important link in the company's overall customer value delivery
system.They are part of a marketer's ____________________.

A) macroenvironment
B) political environment
C) microenvironment
D) natural environment
E) economic environment

Question 74

A society's basic values,perceptions,preferences,and behaviors are all part of its ________ environment.

A) social
B) cultural
C) political
D) cultural-economic
E) natural

Question 75

Print,television,and Internet ads that feature university students enjoying a brand of potato chips in between classes and during study breaks are most likely aimed at which of the following?

A) Echo Boomers
B) Baby Boomers
C) Generation X
D) Millennials
E) Retirees

Question 76

Marketers often split the baby boomers into three smaller groups-leading boomers,core boomers,and trailing boomers-each with its own beliefs and behaviors.This is known as ___________.

A) generational marketing
B) age segmentation
C) niche marketing
D) belief marketing
E) value marketing

Question 77

A company's marketing environment consists of the actors and forces outside marketing that affect marketing management's ability to build and maintain ________________ with target customers.

A) loyalty
B) successful relationships
C) informal links
D) communication
E) working relationships

Question 78

Marketing __________ help the company to promote,sell,and distribute its products to final buyers.

A) managers
B) collaterals
C) intermediaries
D) campaigns
E) websites

Question 79

Innovate Pte Ltd is a producer of electronic circuits that power a variety of technological devices produced by other companies.Innovate Pte Ltd sells its products to ________ markets.

A) business
B) government
C) consumer
D) internal
E) financial

Question 80

Marketers can take a(n)________ by taking aggressive action like running advertorials,
pressing for lawsuits and filing complaints with regulators to keep competitors in line.

A) environmental stance
B) neutral stance
C) natural perspective
D) natural-management perspective
E) proactive stance