Question 1

How many factors make up the marketing environment?
A) 1
B) 2
C) 3
D) 4

Accepted Answer

The marketing environment is typically divided into two main factors: the microenvironment and the macroenvironment.

Question 2

The micro-environment is sometimes referred to as the internal environment.

Accepted Answer

The micro-environment is the internal environment of the cell, which includes the cytoplasm, organelles, and nucleus.

Question 3

Which element would be categorized in the micro-environment for managers at Ben & Jerry's?
A) Ingredients
B) Population trends
C) Cultural beliefs
D) Legal regulations

Accepted Answer

Ingredients are part of the micro-environment because they directly affect the day-to-day operations and decision-making at Ben & Jerry's, such as product development and sourcing.

Question 4

Which term best describes a collection of buyers and sellers interested in making similar or related exchanges?
A) Market
B) Developing Economy
C) Mature Economy
D) Publics

Accepted Answer

A market is defined as a collection of buyers and sellers interested in making similar or related exchanges, encompassing the interactions and transactions that occur between them.

Question 5

Which term best describes a market having relatively stable competitors and customers?
A) Established Markets
B) Evolving Markets
C) Federal Trade Commission (FTC)
D) Macro-environment

Accepted Answer

Established markets are characterized by relatively stable competitors and customers, indicating a mature market where major players and consumer bases are well-defined and changes occur more gradually.

Question 6

Which term best describes a market that is changing rapidly and does not have stable competitors or customers?
A) Evolving Markets
B) Established Markets
C) Federal Trade Commission (FTC)
D) Macro-environment

Accepted Answer

Evolving markets are characterized by rapid changes, including shifts in competitors and customer preferences, making them unstable in terms of consistent players and consumer bases.

Question 7

Which term is most applicable to couples living in households as unmarried partners?
A) Cohabitation
B) End consumers
C) Publics
D) Resellers

Accepted Answer

Cohabitation refers to couples living together without being married, which directly applies to the scenario described.

Question 8

Which of the following will increase sustainability?
A) Using solar power
B) Burning coal for power
C) NOT having recycling bins
D) Using all plastic products

Accepted Answer

Using solar power increases sustainability by reducing reliance on fossil fuels, lowering greenhouse gas emissions, and providing a renewable source of energy.

Question 9

Many employers are trying to market the work/life balance of their work environment to potential employees; what component of the macro-environment are these employers focusing on?
A) Political/regulatory/legal
B) Technological
C) Economic/Financial
D) Social/Cultural

Accepted Answer

Employers focusing on marketing the work/life balance are addressing the Social/Cultural component of the macro-environment, as this pertains to societal norms, values, and preferences, including the increasing value placed on a balanced lifestyle.

Question 10

Which term best describes the combinations of controllable and uncontrollable forces that affect a marketing decision?
A) Marketing Environment
B) Marketing intermediaries
C) Market Share
D) Micro-Environment

Accepted Answer

The Marketing Environment encompasses both controllable and uncontrollable forces that affect marketing decisions. It includes factors like social, economic, technological, competitive, and regulatory forces.

Question 11

Which term best describes the most important micro-environment element, the opposite partner in an exchange?
A) Customer
B) Company
C) Competitor
D) Suppliers

Accepted Answer

The most important micro-environment element, considered the opposite partner in an exchange, is the Customer. This is because the primary goal of a business is to satisfy the needs and wants of its customers, making them central to all business activities.

Question 12

Which term best describes anything in the environment that directly affects or is directly affected by the marketing manager's decisions?
A) Micro-environment
B) Macro-environment
C) Mature Economy
D) Market

Accepted Answer

The micro-environment includes all the actors close to the company that affect its ability to serve its customers, such as suppliers, marketing intermediaries, customer markets, competitors, and publics. These elements are directly affected by the marketing manager's decisions.

Question 13

A Customer who purchases a product to use personally, such as grocery shoppers that buy Ben & Jerry's to take home for dessert is a(n)
A) end consumer.
B) company.
C) competitor.
D) supplier.

Accepted Answer

End consumers are individuals who purchase products for their personal use, rather than for resale or use in production of other goods.

Question 14

A customer who purchases a product to exchange with others, such as a school purchasing Ben & Jerry's to serve as part of its lunch program is a(n)
A) reseller.
B) end Consumer.
C) competitor.
D) supplier.

Accepted Answer

A reseller is a type of customer who purchases goods or services with the intention of selling them to others, rather than using them. In this scenario, the school is buying Ben & Jerry's ice cream not for its own use but to serve it to students, effectively reselling it as part of its lunch program.

Question 15

Which element would be categorized in the macro-environment for managers at Ben & Jerry's?
A) Cultural beliefs
B) Ingredients
C) Prices
D) Flavors

Accepted Answer

Cultural beliefs are part of the macro-environment that managers at Ben & Jerry's would consider, as they influence consumer behavior and preferences on a large scale, beyond the company's immediate control.

Question 16

Controllable and uncontrollable forces that affect marketing decision make up the
A) marketing environment.
B) micro-environment.
C) market.
D) macro-environment.

Accepted Answer

The marketing environment encompasses both controllable and uncontrollable forces that affect marketing decisions, including both the micro-environment (such as suppliers, customers, and competitors) and the macro-environment (such as economic, technological, and legal factors).

Question 17

If Ben & Jerry's sales for 2016 were $200,000 and the entire ice cream market had sales of $2,000,000 for 2016, what is Ben & Jerry's market share?
A) 10%
B) 9%
C) 1%
D) 10

Accepted Answer

Ben & Jerry's market share is calculated by dividing their sales by the total market sales and then multiplying by 100 to get a percentage. So, ($200,000 / $2,000,000) * 100 = 10%.

Question 18

Which is a secondary competitor for Ben & Jerry's Ice Cream?
A) Frozen yogurt
B) Cold Stone Creamery
C) Baskin Robbins
D) Halo Top ice cream

Accepted Answer

The answer of Which is a secondary competitor for Ben...

Question 19

Who is NOT an intermediary for Ben & Jerry's ice cream?
A) A dairy supplier
B) A marketing team that designs product labels
C) A certified public accounting (CPA) firm that provides audit services
D) A trucking company that transports the product

Accepted Answer

The answer of Who is NOT an intermediary for Ben...

Question 20

Which is an intermediary for Ben & Jerry's Ice Cream?
A) A trucking Company that transports the product
B) A dairy supplier
C) An ice cream carton supplier
D) A chocolate supplier

Accepted Answer

A trucking company that transports the product acts as an intermediary by facilitating the distribution of Ben & Jerry's Ice Cream from the production facility to retailers or consumers.

Quiz 3: The Marketing Environment

How many factors make up the marketing environment?

The micro-environment is sometimes referred to as the internal environment.

Which element would be categorized in the micro-environment for managers at Ben & Jerry's?

Which term best describes a collection of buyers and sellers interested in making similar or related exchanges?

Which term best describes a market having relatively stable competitors and customers?

Which term best describes a market that is changing rapidly and does not have stable competitors or customers?

Which term is most applicable to couples living in households as unmarried partners?

Which of the following will increase sustainability?

Many employers are trying to market the work/life balance of their work environment to potential employees; what component of the macro-environment are these employers focusing on?

Which term best describes the combinations of controllable and uncontrollable forces that affect a marketing decision?

Which term best describes the most important micro-environment element, the opposite partner in an exchange?

Which term best describes anything in the environment that directly affects or is directly affected by the marketing manager's decisions?

A Customer who purchases a product to use personally, such as grocery shoppers that buy Ben & Jerry's to take home for dessert is a(n)

A customer who purchases a product to exchange with others, such as a school purchasing Ben & Jerry's to serve as part of its lunch program is a(n)

Which element would be categorized in the macro-environment for managers at Ben & Jerry's?

Controllable and uncontrollable forces that affect marketing decision make up the

If Ben & Jerry's sales for 2016 were $200,000 and the entire ice cream market had sales of $2,000,000 for 2016, what is Ben & Jerry's market share?

Which is a secondary competitor for Ben & Jerry's Ice Cream?

Who is NOT an intermediary for Ben & Jerry's ice cream?

Which is an intermediary for Ben & Jerry's Ice Cream?