Question 1

Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful?

Accepted Answer

By emphasizing that the "green" products will benefit both the customers and the society in the long term, the company can appeal to consumers who are conscious about the environment but also want products that will offer them benefits. This approach will give the marketing program greater credibility and improve the chances of its success.

Question 2

Of the following, which country received the highest score on the Greendex sustainable consumption index, which suggests they minimize their environmental impact via decisions made about transportation, household energy, resource use, and food/good consumption?

Accepted Answer

India often ranks high on the Greendex sustainable consumption index due to factors like lower per capita consumption and a higher prevalence of sustainable practices in daily life, such as vegetarianism and reliance on public or non-motorized transportation.

Question 3

Firms whose products require ________ resources - oil, coal, platinum, zinc, silver - face substantial cost increases as depletion approaches.

Accepted Answer

Finite nonrenewable resources such as oil, coal, platinum, zinc, and silver are limited in quantity and will eventually run out, causing cost increases as depletion approaches.

Question 4

When a company is said to have engaged in "greenwashing," it means that the ________.

Accepted Answer

Greenwashing refers to a company making exaggerated or false claims about the environmental benefits of its products or practices in order to appeal to environmentally conscious consumers. Essentially, it means a company is making their products seem more environmentally friendly than they actually are in order to boost sales.

Question 5

________ Americans, the second-largest Asian population in the United States, is generally affluent, well-educated, and attractive to marketers.

Accepted Answer

Indian Americans are the second-largest Asian population in the United States and are known for their high levels of education and affluence, making them attractive to marketers.

Question 6

Marketing strategies of firms should not consider the ethnic and racial diversity existing in their markets.

Accepted Answer

Marketing strategies should consider ethnic and racial diversity in order to effectively reach and connect with diverse target audiences. Research shows that diverse audiences respond differently to various marketing messages and approaches, and taking this into account can lead to more successful campaigns. Ignoring diversity can lead to exclusion and potentially harmful stereotypes.

Question 7

Which of the following is the largest contributor to global warming, contributing almost a quarter of the carbon dioxide in the environment?

Accepted Answer

Electrical power plants are the largest contributor to global warming, contributing almost a quarter of the carbon dioxide in the environment, followed by transportation and industrial production facilities. Aerosol cans and rural cooking fires are not significant contributors to global warming.

Question 8

A possible unintended effect of business legislation is ________.

Accepted Answer

The answer of A possible unintended effect of business legislation...

Question 9

The basis of cohort segmentation is that the experiences of key defining moments during the time when an individual becomes an adult can influence his or her values, preferences, and buying behaviors for the rest of his or her life.

Accepted Answer

Cohort segmentation is based on the idea that experiences during the formative years of an individual can shape their values, preferences, and buying behavior for the rest of their life. This segmentation is typically based on the year an individual was born and the defining events and cultural influences of their youth.

Question 10

Population growth is highest in countries and communities that can least afford it.

Accepted Answer

This statement is true as countries and communities with high population growth rates often have limited resources and infrastructure to support their growing population, leading to issues such as poverty, food insecurity, and inadequate healthcare facilities.

Question 11

Of all illiterate adults in the world, two-thirds are women.

Accepted Answer

This is a well-documented statistic, supported by various sources and studies. According to UNESCO, out of 773 million illiterate adults worldwide, two-thirds are women. This gender gap in education is a result of various social, economic, and cultural factors that disproportionately affect women and girls in many parts of the world.

Question 12

An important force affecting business is the ________ movement, a movement of citizens and government organized to strengthen the rights and powers of buyers in relation to sellers.

Accepted Answer

The consumerist movement is specifically focused on strengthening the rights and power of buyers in relation to sellers, making it the best choice among the options provided. The human rights movement is focused on broader issues of basic human rights, while the environmental movement is concerned with issues related to the natural environment. Self-determination refers to the right of self-governance for a group or individual, which is not directly related to the relationship between buyers and sellers. Materialistic is a term that can have multiple meanings and interpretations, but it does not specifically relate to the movement described in the question.

Question 13

Which of the following is true about the technology trends that marketers should monitor?

Accepted Answer

The statement "The pace of change is accelerating today" is true and reflects the general trend in technology. Option A is incorrect as it is not related to technology trends that marketers should monitor. Option B is not a general trend as some technology developments move quickly from idea to implementation. Option C is also not a general trend and is specific to certain industries or technologies. Option E is incorrect as the government's regulation of technological change is a complex and multifaceted issue that cannot be summarized in a single statement.

Question 14

Consumers belonging to the same ethnic group have identical tastes and preferences.

Accepted Answer

While there may be some overlap in tastes and preferences among consumers of the same ethnic group, it is not accurate to say that they have identical preferences. Diversity exists within any given ethnic group, and individual preferences can be influenced by a variety of factors beyond ethnicity, such as personal experiences and upbringing.

Question 15

Mandatory recycling laws have boosted the recycling industry and launched dozens of new companies making new products from recycled materials. Which of the following most closely resembles this situation?

Accepted Answer

The situation in D closely resembles the scenario given because it involves government regulation (pollution control norms) directly leading to an increase in a specific industry (production of pollution control equipment), similar to how mandatory recycling laws have boosted the recycling industry.

Question 16

Households comprised of single, separated, widowed, and divorced individuals generally demand larger apartments and expensive appliances, furniture, and furnishings.

Accepted Answer

Households comprised of single, separated, widowed, and divorced individuals generally demand smaller apartments and may have less need for expensive appliances, furniture, and furnishings compared to larger family households.

Question 17

A new market opportunity generally guarantees success, if the new product is technically feasible.

Accepted Answer

While a new market opportunity can lead to success, it is not a guarantee. Factors such as competition, market saturation, and consumer preferences can all impact the success of a new product. Additionally, technical feasibility is just one aspect of product development, and other factors such as cost, ease of use, and market fit must also be considered.

Question 18

Demographic developments are often unpredictable.

Accepted Answer

The answer of Demographic developments are often unpredictable....

Question 19

There is a global trend toward an aging population.

Accepted Answer

According to the United Nations, the global population aged 65 and over is growing faster than all younger age groups. By 2050, it is estimated that one in six people in the world will be over the age of 65.

Question 20

Which of the following is the second largest contributor to global warming, accounting for roughly a fifth of carbon emissions?

Accepted Answer

Transportation is the second largest contributor to global warming, accounting for roughly a fifth of carbon emissions, primarily due to the combustion of fossil fuels in cars, trucks, ships, trains, and planes.

Quiz 3: Collecting Information and Forecasting Demand