Question 1

With respect to the shortage of raw materials, oil is classified as ________ resources.

Accepted Answer

Oil is a finite nonrenewable resource, meaning that it cannot be replenished within a short period of time and is being depleted faster than it is being produced. Once it is used up, it will be gone forever. This makes it a valuable but limited resource, and its scarcity can lead to supply chain disruptions and higher prices.

Question 2

One finite nonrenewable resource, ________, has created serious problems for the world economy. As oil prices soar, companies search for practical means to harness solar, nuclear, wind, and other alternative energies.

Accepted Answer

The sentence states that "As oil prices soar, companies search for practical means to harness solar, nuclear, wind, and other alternative energies", indicating that oil is a finite nonrenewable resource causing problems for the world economy. Coffee, sugar, air, and water are not described as finite nonrenewable resources in the sentence.

Question 3

Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.

Accepted Answer

The term "subcultures" refers to groups within a society that share common values, beliefs, and experiences that are different from the larger culture. These subcultures can emerge based on a variety of factors such as ethnicity, occupation, or hobbies. Therefore, option B is the most appropriate choice. Option A (cliques) refers to a small, exclusive group of friends or associates, while option C (consumer bundles) and option D (behavioural niches) are not related to subcultures. Option E (demographic segments) is somewhat related to subcultures, but it refers specifically to groups based on demographic characteristics such as age, gender, or income. Therefore, B is the best choice.

Question 4

Canadians and Americans hold many values in common. However, there are social value differences that can affect marketers. Which of the following is a value shared more by Canadians than Americans?

Accepted Answer

Tolerance of individual diversity is a value shared more by Canadians than Americans. Canadians are known for being more accepting of different cultures, religions, and lifestyles than Americans. This can affect marketers in terms of how they approach advertising and messaging to their target audiences in each country.

Question 5

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

Accepted Answer

The consumerist movement is focused on advocating for the rights and interests of consumers, particularly in relation to businesses and sellers. This includes campaigns for better product safety standards, more transparent marketing, and greater protections for consumers against fraud and abuse. The goal of the consumerist movement is to shift power and influence towards buyers, promoting more equitable business practices and greater accountability among sellers.

Question 6

Greenhouse gases in the atmosphere, the depletion of the ozone layer, and the growing shortages of water, are all examples of the deterioration of the

Accepted Answer

The deterioration of the atmosphere through greenhouse gases and depletion of the ozone layer, and the shortage of water are all examples of the deterioration of the natural environment.

Question 7

Marketers should note that Canadians focus less on what products and brands say about us and more on

Accepted Answer

The article states that Canadians focus less on what products and brands say about us and more on what the products do for us.

Question 8

A recent survey of 20 countries by Synovate and BBC showed that over ________ percent of the world's population is concerned about climate change.

Accepted Answer

The answer of A recent survey of 20 countries by...

Question 9

A staggering 10 billion applications were downloaded from the Apple App Store barely two-and-a-half years following its launch in July 2008. Which trend in the technology environment does this best represent?

Accepted Answer

The fact that 10 billion applications were downloaded from the Apple App Store in just two-and-a-half years following its launch represents the accelerating pace of change in the technology environment. This indicates that technology is rapidly evolving, and consumers are increasingly adapting to new technologies at an unprecedented pace.

Question 10

Which type of beliefs or values are more open to change?

Accepted Answer

Secondary beliefs are often more open to change as they are not as deeply rooted or fundamental as core beliefs or cultural/societal beliefs. These beliefs may also be more influenced by outside factors such as personal experiences or new information.

Question 11

Frito-Lay attributed a recent rise in chip-snacking by grown-ups to

Accepted Answer

Frito-Lay attributed the rise in chip-snacking by grown-ups to having brought them in as teenagers, suggesting that early exposure and habits formed in youth have continued into adulthood.

Question 12

When MADD developed and promoted the Good Host kit, what secondary belief and value were they attempting to reinforce?

Accepted Answer

MADD was promoting the belief and value that friends have a responsibility to prevent their friends from driving drunk, and that being a good host involves ensuring the safety of one's guests by not serving alcohol to those who are intoxicated and providing alternative transportation options.

Question 13

Although core values are fairly persistent, cultural swings do take place. ________ and other cultural phenomena had a major impact on young people's lifestyle and life goals in the 1960s.

Accepted Answer

The Beatles had a major impact on young people's lifestyle and life goals in the 1960s, contributing to the counterculture movement and promoting values such as individualism and peace.

Question 14

Which of the following subcultures offers the greatest opportunity to marketers?

Accepted Answer

Teenagers represent a large and influential subculture with significant purchasing power in the form of discretionary income and influence over family spending. They are also receptive to new products and trends, making them a valuable target audience for marketers.

Question 15

_____s, video games, and etc. are reducing attention to traditional media, as well as face-to-face social interaction.

Accepted Answer

Mobile phones are widely used for various forms of digital entertainment and communication, which can reduce attention to traditional media and face-to-face interactions.

Question 16

Siobhaun rose rapidly in her organization and was the youngest CEO in the company's history. Her self-declared purpose as a leader was to make her company an integral part of the Canadian way of life and to eventually enter into public service. Siobhaun would be characterized as being a

Accepted Answer

Siobhaun is a maker because she is driven to create something new and lasting. She wants to make her company an integral part of the Canadian way of life and to eventually enter into public service.

Question 17

________ legislation has four main purposes: to protect companies from unfair competition; to protect consumers from unfair business practices; to protect the interests of society from unbridled business behaviour; and to charge businesses with the social costs of their products or production process.

Accepted Answer

Business legislation is designed to regulate business practices to ensure fair competition, protect consumers, and address social and environmental impacts.

Question 18

The ________ method of determining area market potential calls for identifying all the potential buyers in each market and estimating their potential purchases.

Accepted Answer

The market-buildup method is specifically designed to estimate the market potential by identifying all potential buyers in a given market and estimating their likely purchases. Therefore, option A is the best choice. The other options are not relevant to the given scenario.

Question 19

Major new technologies stimulate the

Accepted Answer

Major new technologies have historically been a significant driver of economic growth, as they create new industries and increase productivity. For example, the development and adoption of the internet and related technologies has transformed entire sectors of the economy, such as retail, media, and finance. This increase in economic activity can lead to job creation and a higher standard of living for many people.

Question 20

Which industry is often targeted as the biggest contributor to global warming, and under heavy pressure to become more environmentally friendly?

Accepted Answer

The electricity generation industry is often targeted as the biggest contributor to global warming, as it is responsible for the majority of greenhouse gas emissions. Many countries and environmental organizations have put pressure on this industry to transition to cleaner forms of energy generation, such as renewable energy sources like wind and solar power.

Quiz 3: Collecting Information and Forecasting Demand