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Exam 3: Scanning the Marketing Environment

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Question 1

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Generation X is the label often given to

A) persons born between 1965 and 1976.
B) persons 65 years old and older.
C) those who survived the Great Depression.
D) the "greatest generation" born between the baby boomer generation and their parents that were called Generation W, the World War II generation.
E) those people who were born since the millennium.

F) A) and E)
G) A) and D)

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Question 2

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Paul Avery is a salesperson at the only Ford automobile dealership in Wausau, Wisconsin. However, there are several other auto dealerships in town, offering both domestic and foreign cars and trucks. Paul works hard to keep his customers satisfied because he knows that if his customers are unhappy, they can simply buy a car from one of the several other comparable dealers in Wausau. This marketing environment is an example of

A) pure competition.
B) monopolistic competition.
C) an oligopoly.
D) a monopoly.
E) marginal competition.

F) B) and C)
G) A) and E)

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Question 3

Multiple Choice

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Which of the following is a commonly held value in the United States?

The __________ makes it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly.

The country expected to have the largest population in 2050 is

For 18 months, Warner-Lambert Co., an American pharmaceutical company, was required to include the following statement in all television advertisements for Listerine: "Listerine will not help prevent colds or sore throats or lessen their severity." The Federal Trade Commission (FTC) imposed this requirement because previous advertising had caused consumers to believe Listerine was effective against colds. This is an example of the FTC action known as

Inventions or innovations from applied science or engineering research are referred to as

Regulation refers to

The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is referred to as

In 2015, which racial or ethnic group had the greatest economic impact in the United States in terms of its buying power?

Using smartphones, one can watch the news, shoot videos, browse the Internet, take pictures, and listen to music. Improved features are added with each smartphone introduced by Apple, Samsung, LG, and others. As a result, customers often want to replace their existing smartphones with new models or brands every two years when their contracts expire. This increase in demand is due mostly to changes in __________, an environmental force.

There are many diet aids on the market. They promise immediate weight loss without exercise or a change in diet. Each is accompanied by a testimonial from a satisfied user. If you pay close attention, you will notice that each ad also contains the statement, "Results may vary." Most likely this statement is included to prevent the Federal Trade Commission (FTC) from requiring the dietary aid distributor from having to

Jason and Lucy prepared a household budget in an attempt to manage their money better. They prepared the following list: Monthly income (after taxes) = $4,500; Monthly expenses (necessities) , which include rent, $550; auto loan, $250; student loan, $200; savings, $500; food, $200 = $1,700; Amount left over = $2,800 (income less necessary expenses) . The $2,800 they had left over is their

In terms of business travel, for which generational cohort are ads regarding in-flight Wi-Fi and on-demand entertainment most likely trying to reach?

Culture is a component of what type of environmental force that must be scanned to assess its impact on the organization's marketing environment?

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as

The most recent estimate indicates that the population of the world today is about

Emily had an excellent year as a salesperson in 2015, earning $97,000. She paid $37,000 for necessities such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. What was her discretionary income?

Emily had an excellent year as a salesperson in 2015, earning $97,000. She paid $37,000 for necessities such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. What was her disposable income?

Members of Generation Y, also known as __________, are interested in sustainability including sustainable campus communities.