A company must be able to focus on its ____ competencies as an opportunity to deliver new products to its customers.

A company must be able to focus on its ____ competencies as an opportunity to deliver new products to its customers.

a. existing

b. exiting

c. competition

d. extreme




Answer: A

Particularly in larger countries, marketers may have to respond to diverse consumer groups that refer to products categories differently. While some areas say they "go to a movie," others say they are "going to a show." This illustrates ____ culture.

Particularly in larger countries, marketers may have to respond to diverse consumer groups that refer to products categories differently. While some areas say they "go to a movie," others say they are "going to a show." This illustrates ____ culture.

a. cohort

b. country

c. regional

d. demographic




Answer: C

____ refers to the persistent increase in the prices of goods and services.

____ refers to the persistent increase in the prices of goods and services.

Answer: Inflation

At its most basic level, ____ refers to the cost to the individual for borrowing money.

At its most basic level, ____ refers to the cost to the individual for borrowing money.

a. exchange rate

b. mortgage rate

c. inflation rate

d. interest rate




Answer: D

When developing marketing plans, a firm should consider which of the following things about its competitors?

When developing marketing plans, a firm should consider which of the following things about its competitors? (check all that apply)

a. Confidential new product plans

b. Past growth of the firm

c. Likely reactions to the firm's plans

d. Weaknesses

Answer: CD

Factors affecting consumers such as a company's capabilities, competitors, and corporate partners, are referred to as:

Factors affecting consumers such as a company's capabilities, competitors, and corporate partners, are referred to as:

a. culture environment

b. demographic environment

c. economic environment

d. immediate environment



Answer: D

The most important immediate environmental factors that impact consumers are the ____, ____, and ____.

The most important immediate environmental factors that impact consumers are the ____, ____, and ____.

a. competitors, vendors, suppliers

b. company, cohorts, corporate partners

c. competitors, cohorts, corporate partners

d. company, competition, corporate partners



Answer: D

Which of the following are among the goals of value-based marketing?

Which of the following are among the goals of value-based marketing?

a. Focus on only sales and promotions

b. Recognize consumers' needs and wants

c. Provide value to consumers

d. Offer the lowest-priced merchandise

Answer: BC

True or false: Currently firms have the technology to track an item from the moment it was manufactured until it is in the hands of the consumer.

True or false: Currently firms have the technology to track an item from the moment it was manufactured until it is in the hands of the consumer.

a. True

b. False



Answer: A

___ is defined as the shared meanings, beliefs, morals, values, and customs of a group of people.

___ is defined as the shared meanings, beliefs, morals, values, and customs of a group of people.

Answer: culture

Which of the following firms would be the most likely to see food sales suffer as a result of inflation?

Which of the following firms would be the most likely to see food sales suffer as a result of inflation?

a. Walmart

b. Subway

c. Red Lobster

d. Burger King




Answer: C

A company may choose to launch the same advertising campaign globally. This particular campaign may be launched with identical pictures and message just in different languages. Advertiser might try to bridge the culture gap by appealing to:

A company may choose to launch the same advertising campaign globally. This particular campaign may be launched with identical pictures and message just in different languages. Advertiser might try to bridge the culture gap by appealing to:

a. the same target market

b. foreign exchange programs

c. profit pricing

d. the same work environment



Answer: A

In response to the social trend of ____, the Federal Trade Commission established the Do Not Call Registry.

In response to the social trend of ____, the Federal Trade Commission established the Do Not Call Registry.

a. health and wellness concerns

b. thrift

c. privacy concerns

d. green marketing

e. time-poor society




Answer: C

Which is the largest generational cohort since the Baby Boomers?

Which is the largest generational cohort since the Baby Boomers?

a. Gen X

b. Seniors

c. Gen Z

d. Gen Y




Answer: D

Which of the following groups are NOT expected to experience population growth in the United States in the next 20 years.

Which of the following groups are NOT expected to experience population growth in the United States in the next 20 years.

a. Caucasian

b. Asian

c. African American

d. Hispanic

Answer: A

Which are the traits that best describe Baby Boomers?

Which are the traits that best describe Baby Boomers?

a. largest population of 50-plus consumers

b. Born between 1946 and 1964

c. Hardly any focus on maintaining their youth

Answer: AB

If your family shares a tradition of getting together on New Year's Day, then this part of your ____.

If your family shares a tradition of getting together on New Year's Day, then this part of your ____.

a. demographics

b. wellness

c. culture

d. ethnicity



Answer: C

Which income group's purchasing power is growing relative to other income groups?

Which income group's purchasing power is growing relative to other income groups?

a. Middle income group

b. Highest income group

c. Low income groups

Answer: B

A successful firm focuses on matching its core ____ of its products and services to what customers need and want.

A successful firm focuses on matching its core ____ of its products and services to what customers need and want.

a. corporate partners

b. competencies

c. competition

d. consumers



Answer: B

How do demographics affect the launching of a new product?

How do demographics affect the launching of a new product?

a. A product may be seen as a better value economically.

b. A product may be targeted towards a specific age group or generational cohort.

c. A product may be related to an emerging social trend.

d. A product may be for a specific gender.

Answer: BD