Question 1

Seniors,the fastest growing demographic cohort,spend nearly all of their money on basic necessities such as drugs,plain food and services of caregivers.

Accepted Answer

False

Question 2

Tweens rarely use any type of technology.

Accepted Answer

Tweens, typically defined as children between the ages of 8 and 12, are known to use various types of technology such as smartphones, tablets, and gaming consoles. They are also active on social media and messaging apps.

Question 3

A firm's macroenvironment includes all of the following EXCEPT:
A)competition.
B)culture.
C)demographics.
D)economics.
E)political / legal issues.

Accepted Answer

Competition is a part of a firm's microenvironment, as it refers to specific competitors the firm directly interacts with. The macroenvironment includes broader societal factors such as culture, demographics, economics, and political/legal issues.

Question 4

In the Immediate Environment,the competition has no effect on consumers.

Accepted Answer

In the Immediate Environment, competition can have a significant effect on consumers since companies compete for the same market share and consumers have more options to choose from.

Question 5

The immediate factors affecting consumers include the actions of the:
A)company.
B)company's competitors.
C)company's corporate partners.
D)all of these.
E)none of these.

Accepted Answer

All of these factors (company, company's competitors, and company's corporate partners) can have an immediate impact on consumers' decision-making and behavior. Consumers may be influenced by a company's marketing efforts, the availability and pricing of competing products, and the partnerships or collaborations a company has with other businesses.

Question 6

Macroenvironmental factors include the company,competition,and corporate partners.

Accepted Answer

Macroenvironmental factors include external factors outside the control of the company, such as economic, social, political, technological, and environmental factors. The company, competition, and corporate partners are all part of the microenvironmental factors which are within the company's control.

Question 7

Demographics are transmitted by words,literature,and institutions from generation to generation.

Accepted Answer

Demographics refer to statistical data relating to the population and particular groups within it, such as age, race, or income, and are not transmitted through words, literature, and institutions but are collected through surveys and censuses.

Question 8

DVRs have facilitated marketers' access to their target markets.

Accepted Answer

DVRs allow viewers to skip through commercials, making it more difficult for marketers to reach their target markets.

Question 9

Demographic profiles of customers provide an easily understood "snapshot" of the typical consumer in target markets.

Accepted Answer

Demographic profiles provide a clear picture of the typical consumer in target markets, making it easier for businesses to understand their customers and tailor their marketing efforts.

Question 10

By paying close attention to customer needs and continuously monitoring the environment in which it operates,a good marketer can:
A)avoid cognitive dissonance.
B)identify potential opportunities.
C)implement just-in-time marketing promotions.
D)create new demographic groups.
E)all of these.

Accepted Answer

By paying attention to customer needs and constantly monitoring the environment, a marketer can identify potential opportunities for their business. While they may be able to avoid cognitive dissonance and implement just-in-time marketing, those are not the main benefits of their actions. Creating new demographic groups isn't necessarily solely in the marketer's control either.

Question 11

Members of Generation Y share a strong emphasis on balancing work and life.

Accepted Answer

Generation Y, also known as millennials, place a high value on work-life balance and prioritize flexibility and job satisfaction in their career decisions.

Question 12

When analyzing the immediate environment and the macroenvironment,marketers must be careful to keep the firm at the center of all analyses.

Accepted Answer

The answer of When analyzing the immediate environment and the...

Question 13

By paying close attention to customer needs and continuously monitoring the environment in which it operates,a good marketer can identify potential opportunities.

Accepted Answer

This is true because marketers who keep a close eye on their customers and the market can identify potential trends and needs that they can then capitalize on. It is important for marketers to be agile and adaptable in order to take advantage of these opportunities.

Question 14

When senior citizens or recent immigrants are pressured to take out loans they cannot pay back (often containing high fees,hidden costs,and higher rates of interest),these are referred to as:
A)predatory loans.
B)opportunistic financing.
C)consolidated loans.
D)low yield loans.
E)prime rate loans.

Accepted Answer

These types of loans that take advantage of vulnerable individuals and trap them in a cycle of debt are commonly known as predatory loans.

Question 15

As the Euro becomes more expensive relative to the dollar,Americans are likely to purchase more European wines.

Accepted Answer

If the Euro becomes more expensive relative to the dollar, it means that European wines will also become more expensive for Americans. Therefore, it is less likely that Americans will purchase more European wines.

Question 16

The global spread of technology has eliminated all differences between cultures.

Accepted Answer

While technology has certainly brought people across different cultures closer together, cultural differences still exist in terms of language, values, traditions, and customs. Technology may have made communication and access to information easier, but it has not completely eliminated all cultural differences.

Question 17

Successful firms focus their efforts on satisfying customer needs that match their core competencies.

Accepted Answer

Focusing on satisfying customer needs that align with a firm's core competencies can lead to a competitive advantage and long-term success in the market.

Question 18

As a retail clothing store manager,Randy frequently asks his staff what customers are saying and what they are asking for.He also attends the quarterly clothing show at the regional merchandise mart.Randy's efforts will likely help him to:
A)avoid cognitive dissonance.
B)implement just-in-time marketing promotions.
C)identify potential opportunities.
D)avoid the need to understand regional culture.
E)all of these.

Accepted Answer

By asking his staff what customers are saying and attending the clothing show at the regional merchandise mart, Randy is able to identify potential opportunities in the market. This helps him to stay current with the latest trends and customer demands, and adjust his inventory and marketing strategies accordingly.

Question 19

The centerpiece of the Marketing Environment Analysis Framework is:
A)green marketing.
B)corporate partners.
C)culture.
D)competitive intelligence.
E)consumers.

Accepted Answer

The centerpiece of the Marketing Environment Analysis Framework is consumers as they are the key factor that determines the success or failure of a company's marketing efforts. Understanding the needs, wants, and behavior of consumers is crucial in developing effective marketing strategies.

Question 20

The three elements of the consumer's immediate environment are the company,competition,and corporate partners.

Accepted Answer

The consumer's immediate environment indeed includes the company (offering the product or service), competition (other companies offering similar products or services), and corporate partners (companies that work together in joint ventures or partnerships).

Quiz 4: Analyzing the Marketing Environment