Reference no: EM132215273
1. Fiona has developed a new software application that automatically reconfigures accounting information based on the standards used in each country. Her product is superior to anything that exists on the market. Which of the following decision is NOT one of the key marketing decisions she will have to make?
- How many software products typically fail?
- how the software will be promoted?
- what distribution channels to use?
- what price to charge?
2. In recent years, gasoline prices have declined, increasing discretionary spending particularly among low-income market segments. Which of these markets would MOST likely benefit:
- cable TV subscriptions.
- higher education (going to college).
- impulse purchase items at convenience stores.
- retail catalog shopping.
3. The various environmental forces:
- are more important for large firms than for small firms.
- can vary in importance from industry to industry.
- combine to exert minimal influence on the firm because they are removed from day-to-day activities.
- combine to form a fairly static, or fixed, set of influences on the organization over time.
4. By monitoring their macroenvironment, firms can determine how such factors influence consumers and how they should respond to them. Marketing opportunities exist for firms that can:
- anticipate changes in the macroenvironment.
- avoid having to engage in macroenvironmental monitoring.
- identify who are the offspring of the Baby Boomers.
- successfully engage in post-market scenario planning.
5. Which is WRONG about the various environmental forces:
- changing laws and regulations can create opportunities in the marketplace.
- cultural trends tend to be long-term in their impact on consumption patterns.
- demographic trends are the least controllable of the environmental forces affecting the firm.
- experts generally regard technology as the least important environmental area.
6. Environmental forecasting for a company:
- focuses mainly on economic issues because inflation and unemployment are such important indicators.
- has gotten to the point where computer models can very accurately predict environmental changes.
- seems to work better when experts look at specific parts of the overall environment.
- should be an extensive and detailed analysis of all trends occurring in the environments of the firm.
7. Which is WRONG about the development and effects of environmental forces:
- ethnic groups tend to be fragmenting into the population at large, thereby losing focused buying power.
- international political developments are harder to forecast than national political developments.
- people tend to cluster with others who share like interests, e.g., in cars, collectibles, etc.
- the effect of a new technology is hard to predict because it opens up new markets as well as invades old ones.
8. Toyota recognized a customer need as it developed the Prius, and as a result it:
- demonstrated that being eco-friendly can be successful if it is based on satisfying consumers’ needs.
- discovered what consumers consider their needs are less important that meeting engineering challenges.
- found that customers are cyclical in their need for low-mileage cars and they were in the right place at the right time.
- found that individuals whose needs were for a low-mileage car had little interest in the many details in designing and producing a car.
9. Which of the following descriptions most accurately characterizes the baby boomers?
- They are a shrinking market for new housing and home remodeling.
- They are aging and slowing down.
- They are past their peak earning and spending years.
- They hold 75% of the country’s financial assets.
10. Which of the following is an accurate statement about the diversity of the American population?
- African Americans represent the largest non-white segment of the population.
- American ethnic populations are expected to slowly increase in the next few decades.
- More than 10 percent of people living in the United States were born in another country.
- The Asian American percentage of the population is expected to remain steady in the next 50 years.
11. Which of the following is a result of regulations set up by the Food and Drug Administration and the Consumer Product Safety Commission?
- Companies are more focused on making practical, affordable versions of products.
- Research costs for companies have grown.
- Spending on research and development has decreased.
- The time lag between new product ideas and their introduction to the market has decreased.
12. Trends in people’s views of organizations indicate that which of the following has increased in the past twenty years?
- confidence in American political organizations
- distrust in big American businesses
- employees’ loyalty to their employers
- employees’ view of work as a source of satisfaction
13. The U.S. has been called the “melting pot” society, integrating people from many different cultures into the social fabric of the country. The challenge for marketers is to determine whether a group’s culture:
- can be used as a relevant identifier for a particular target group.
- competes or complements U.S. traditional cultures.
- is passed from generation to generation orally or by written guides.
- is socially important.
14. Which of the following would be a component of a company's marketing microenvironment?
- a changing demographic picture that the firm has to constantly adapt its products to
- a just-in-time inventory system followed by the company when making purchase decisions
- a new technology that would ensure significant cost-cutting if implemented in the firm
- a set of laws that require the company to scale down its promotional phone calls to customers
15. We looked Michael Porter’s 5-Forces model to:
- add a more detailed and useful view of a company’s microenvironment.
- illustrate that the macroenvironment can be controlled if we plan carefully.
- indicate that rival firms can be overcome via careful brand strategies.
- show that our suppliers are our most serious rivals in terms of developing new product technology.