Question 1

Environmental scanning refers to

Accepted Answer

A)  assessing any possible negative impact a firm's activities might have on the local ecology.
B)  continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
C)  setting up a regular schedule to assess the performance of different divisions within a firm.
D)  initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment.
E)  requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.F) B) and D)
G) D) and E)

Question 2

Barriers to entry refer to

Accepted Answer

A)  governmental prohibitions regarding the establishment of businesses that are considered immoral.
B)  governmental prohibitions regarding the establishment of businesses that are considered legal but unethical.
C)  strong-armed tactics that are illegal but commonly used in certain industries to hinder competition.
D)  business practices that make it difficult for new firms to enter the market.
E)  restrictions against certain consumers' purchase of a product.F) A) and C)
G) B) and D)

Question 3

Which of the following is a demographic trends that has significant implications to global marketers?

Accepted Answer

A)  the declining populations in Latin American countries
B)  the large and growing markets in India and China
C)  the tripling of the population of consumers under 40 years old
D)  the decreasing interest in entrepreneurship in developing countries
E)  the lack of savings of elderly populations in developed countriesF) B) and D)
G) A) and B)

Question 4

Technology is defined as

Accepted Answer

A)  any device or process based on scientific discoveries that are less than one year old.
B)  any mechanical device used in the production or distribution of a product.
C)  scientific findings that are used now or are able to generate a profit.
D)  ideas or concepts that will one day be translated into usable devices,mechanisms,or processes.
E)  the inventions or innovations from applied science or engineering research.F) A) and D)
G) A) and E)

Question 5

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

Accepted Answer

A)  social
B)  economic
C)  technological
D)  competitive
E)  regulatoryF) B) and D)
G) D) and E)

Question 6

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

Accepted Answer

A)  the importance of rank and status
B)  the importance of tradition
C)  belief in fate
D)  competition
E)  acceptance of birthrightF) C) and D)
G) A) and E)

Question 7

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?

Accepted Answer

A)  Generation X
B)  baby boomers
C)  Generation Z
D)  baby busters
E)  Generation YF) A) and E)
G) A) and D)

Question 8

________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Accepted Answer

A)  Cross-market competition
B)  Limited competition
C)  Pure competition
D)  Monopolistic competition
E)  A monopolyF) C) and D)
G) A) and D)

Question 9

One reason some people don't like to buy clothing from Internet retailers is the inability to know if the ordered clothes will fit.ImageTwin has developed a scanning system that obtains the measurements of individuals,which are then fed into a database.When you want to buy something at LandsEnd.com,you can see a 3-D image of what the item should look like on your body.This is an example of the ________ force in the marketing environment.

Accepted Answer

A)  economic
B)  technological
C)  sociocultural
D)  competitive
E)  marketing mixF) D) and E)
G) B) and C)

Question 10

In 1970,the typical U.S.household earned about $8,700.In 2015,the typical U.S.household earned about $56,516.If adjusted for inflation,the gross income of the typical U.S.household in 2015 relative to 1970 has

Accepted Answer

A)  increased dramatically.
B)  increased somewhat.
C)  remained relatively stable.
D)  decreased somewhat.
E)  decreased dramatically.F) A) and B)
G) None of the above

Question 11

Demographic characteristics that describe a population include all of the following except which?

Accepted Answer

A)  income
B)  age
C)  occupation
D)  zip code
E)  ethnicityF) C) and D)
G) A) and D)

Question 12

Changes in ________ have a psychological impact on consumers,who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Accepted Answer

A)  automobile prices
B)  fuel prices
C)  the number of people competing for jobs
D)  consumer confidence
E)  home valuesF) A) and B)
G) A) and C)

Question 13

Many changes in the environment occurred to create the need for the services of Best Buy's Geek Squad.Future changes are also likely to change the way Geek Squad operates.An environmental scan helps illustrate the changes.What are some of the key changes that are occurring?

Accepted Answer

According to Best Buy CEO,Hubert Joly,on...

Question 14

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

Accepted Answer

A)  significant trend analysis.
B)  organizational scanning.
C)  environmental scanning.
D)  a SWOT analysis.
E)  marketing intelligence.F) A) and B)
G) A) and C)

Question 15

A metropolitan statistical area refers to

Accepted Answer

A)  a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration.
B)  a statistical area of 2.5 million people or more.
C)  a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area.
D)  a highly urbanized area with a centrally located population of at least 1,000,000 people.
E)  a statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration.F) B) and D)
G) All of the above

Question 16

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

Accepted Answer

A)  net income.
B)  disposable income.
C)  discretionary income.
D)  household income.
E)  gross income.F) A) and B)
G) B) and E)

Question 17

A firm conducting an environmental scan of the marketplace might uncover key ________ such as the growing popularity of brand advocates,the increasing application of virtual reality and augmented reality,and the importance of "gig economy" businesses' legal challenges.

Accepted Answer

A)  profits
B)  responsibilities
C)  idealisms
D)  codes
E)  trendsF) A) and B)
G) C) and E)

Question 18

By 2050,the world's population is expected to exceed

Accepted Answer

A)  2 billion.
B)  3 billion.
C)  5 billion.
D)  6 billion.
E)  9 billion.F) A) and D)
G) B) and E)

Question 19

In a(n) ________ economy,if prices rise faster than consumer incomes,the number of items consumers can buy decreases.

Accepted Answer

A)  deflationary
B)  expansionary
C)  recessionary
D)  inflationary
E)  depressiveF) None of the above
G) A) and B)

Question 20

Members of Generation Z are most likely to influence

Accepted Answer

A)  furniture design.
B)  health care and insurance.
C)  retirement plans.
D)  e-textbooks.
E)  automobile design.F) A) and B)
G) B) and D)

Exam 3: Scanning the Marketing Environment

Changes in ________ have a psychological impact on consumers,who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct Answer
verified

In 1970,the typical U.S.household earned about $8,700.In 2015,the typical U.S.household earned about $56,516.If adjusted for inflation,the gross income of the typical U.S.household in 2015 relative to 1970 has

Correct Answer
verified

Many changes in the environment occurred to create the need for the services of Best Buy's Geek Squad.Future changes are also likely to change the way Geek Squad operates.An environmental scan helps illustrate the changes.What are some of the key changes that are occurring?

Correct Answer
verified
According to Best Buy CEO,Hubert Joly,on...
View Answer

Technology is defined as

Correct Answer
verified

By 2050,the world's population is expected to exceed

Correct Answer
verified

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

Correct Answer
verified

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

Correct Answer
verified

A firm conducting an environmental scan of the marketplace might uncover key ________ such as the growing popularity of brand advocates,the increasing application of virtual reality and augmented reality,and the importance of "gig economy" businesses' legal challenges.

Correct Answer
verified

Demographic characteristics that describe a population include all of the following except which?

Correct Answer
verified

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?

Correct Answer
verified

In a(n) ________ economy,if prices rise faster than consumer incomes,the number of items consumers can buy decreases.

Correct Answer
verified

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

Correct Answer
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Which of the following is a demographic trends that has significant implications to global marketers?

Correct Answer
verified

Environmental scanning refers to

Correct Answer
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Barriers to entry refer to

Correct Answer
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________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Correct Answer
verified

A metropolitan statistical area refers to

Correct Answer
verified

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

Correct Answer
verified

Members of Generation Z are most likely to influence

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Changes in ________ have a psychological impact on consumers,who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct AnswerverifiedShow Answer

In 1970,the typical U.S.household earned about $8,700.In 2015,the typical U.S.household earned about $56,516.If adjusted for inflation,the gross income of the typical U.S.household in 2015 relative to 1970 has

Correct AnswerverifiedShow Answer

Many changes in the environment occurred to create the need for the services of Best Buy's Geek Squad.Future changes are also likely to change the way Geek Squad operates.An environmental scan helps illustrate the changes.What are some of the key changes that are occurring?

Correct AnswerverifiedAccording to Best Buy CEO,Hubert Joly,on...View AnswerShow Answer

Technology is defined as

Correct AnswerverifiedShow Answer

By 2050,the world's population is expected to exceed

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Many large consulting firms are beginning to sponsor "women-only" networking events.The purpose of these events is to offer an opportunity for women in management to network with other businesswomen,either as clients,mentors,or protégés.This is an example of which environmental force?

Correct AnswerverifiedShow Answer

A firm conducting an environmental scan of the marketplace might uncover key ________ such as the growing popularity of brand advocates,the increasing application of virtual reality and augmented reality,and the importance of "gig economy" businesses' legal challenges.

Correct AnswerverifiedShow Answer

Demographic characteristics that describe a population include all of the following except which?

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

In a(n) ________ economy,if prices rise faster than consumer incomes,the number of items consumers can buy decreases.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is a demographic trends that has significant implications to global marketers?

Correct AnswerverifiedShow Answer

Environmental scanning refers to

Correct AnswerverifiedShow Answer

Barriers to entry refer to

Correct AnswerverifiedShow Answer

________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Correct AnswerverifiedShow Answer

A metropolitan statistical area refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Members of Generation Z are most likely to influence

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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verified
According to Best Buy CEO,Hubert Joly,on...
View Answer

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