Question 1

Which of the following statements about the American household is most accurate?

Accepted Answer

A)   The structure of the American household has not changed significantly since 1960.
B)   With a drop in the divorce rate, almost 58 percent of households today are married couples with children.
C)   The number of households with working fathers and "stay-at-home" moms has recently begun to increase again and makes up almost 25 percent of all American households.
D)   One of the fastest-growing types of households are those adults who has moved back home with their parents.
E)   The percentage of married couples has increased from 50 percent in 1960 to 75 percent today.F) All of the above
G) None of the above

Question 2

mother bought what she thought was a large box of unsweetened cereal.It was the same 22 oz.size as other brands whose boxes clearly marked.However,when she opened the box it was barely ¾ full.The Fair Packaging and Labeling Act would not protect her unless

Accepted Answer

A)   the package printed the disclaimer that the product might settle during shipping.
B)   the package states that the contents should be purchased by weight rather than by volume.
C)   the package clearly states 22 oz. on the front but the actual weight of the contents was only 16 oz.
D)   the package lists all the ingredients including the total amount of sugar.
E)   an identical package by the same manufacturer had the exact same amount inside.F) A) and B)
G) C) and E)

Question 3

Australia built a strong reputation among women with its high quality sheepskin boots.The firm is now attempting to attract men with new products.To reach them,UGG is

Accepted Answer

A)   offering its existing women customers a "Buy 1 Pair, Get 1 Free" deal on its lines of men's boots.
B)   using New England Patriots quarterback Tom Brady as a spokesperson.
C)   using product placements in TV programs, such as Two and a Half Men and ESPN's SportsNation, that men primarily watch.
D)   outfitting players of the Australian Football (rugby)  League.
E)   targeting skate boarders and snow boarders with its "Be Stupid" campaign.F) A) and B)
G) B) and D)

Question 4

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) A) and D)
G) None of the above

Question 5

Powerful buyers exist when

Accepted Answer

A)   there are many buyers.
B)   switching costs are low.
C)   the product represents a small share of the buyer's total costs.
D)   the product is critical to the buyer.
E)   preemptive practices exist.F) A) and E)
G) A) and C)

Question 6

Adjacent metropolitan statistical areas and micropolitan statistical areas may be grouped into __________ statistical areas.

Accepted Answer

A)   zip code
B)   residential
C)   megapolitan
D)   aggregated
E)   combinedF) C) and D)
G) A) and B)

Question 7

Technology refers to

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)   only those inventions or innovations from applied science that are used to generate a profit.
D)   ideas or concepts that will one day be translated into useable devices, mechanisms, or processes.
E)   the inventions or innovations from applied science or engineering research.F) A) and D)
G) C) and E)

Question 8

blended family refers to a family

Accepted Answer

A)   that is formed by merging two previously separated units into a single household.
B)   that contains both male and female children.
C)   that houses two or more generational cohorts under the same roof.
D)   in which its members are of multiple races and/or ethnicities.
E)   in which parents raise nonbiological children, either through adoption or foster care.F) B) and D)
G) A) and B)

Question 9

MySpace.com is a social network that is targeted primarily to people under the age of 25.In 2005,when MySpace was the leading social network,News Corp.,owner of The Wall Street Journal and Fox News,bought the firm for $580 million.Since then,its membership has declined precipitously due to changing consumer tastes.As a result,News Corp.sold MySpace to a group of investors for a paltry $38 million in mid-2011.This is an example of how __________ forces impact the marketing environment.

Accepted Answer

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

Question 10

Demographics refers to

Accepted Answer

A)   the description of a population according to its values or cultural beliefs.
B)   an objective measurement of a person's likelihood to purchase a product or service.
C)   the psychological profile of prospective consumers.
D)   the density of a population in a geographic area.
E)   the description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation.F) A) and E)
G) A) and D)

Question 11

recent large decline in __________ has had 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)   property valuesF) B) and C)
G) A) and C)

Question 12

Trademark Law Revision Act (1988)

Accepted Answer

A)   prevents someone from using a trademark on a noncompeting product.
B)   provides for registration of a company's trademarks.
C)   protects only the consumer.
D)   allows a company to secure rights to a name before its actual use.
E)   facilitates the protection of U.S. trademark rights throughout the world.F) A) and C)
G) B) and C)

Question 13

Marketers have developed generational marketing programs because

Accepted Answer

A)   grandparents are moving into their children's homes as a result of the recent economic downturn, so it is easier for marketers to reach them.
B)   it is better to find one market niche and stay with it rather than to cross generational lines.
C)   it doesn't really matter when people are born; what really matters is what they buy.
D)   members of each generation are distinctive in their attitudes and consumer behavior.
E)   even though people are labeled as being part of a generational cohort, it doesn't mean that they will have different buyer attitudes and behaviors as other cohorts.F) B) and D)
G) A) and C)

Question 14

Describe the three components of competition.

Accepted Answer

The three components of competition are:...

Question 15

There are only three major recording labels in the world-Sony Music Entertainment,Time-Warner's Warner Music Group,and GE's Universal Music Group.They are responsible for the vast majority of music recordings that are made.Harry says that these three music companies operate as an oligopoly.Maryanne says that they operate as monopolistic competition.Explain how each came to his or her conclusion.Who is correct?

Accepted Answer

Monopolistic competition occurs when man...

Question 16

the rise of electronic music keyboards,the United States is overrun with unwanted pianos.A craftsman decided that old pianos were the perfect height for computer desks.The computer keyboard can be placed where the piano keys once were.He sells his converted pianos for about $1,500.Go to PianoDesk.com if you are interested in this unusual __________ effort.

Accepted Answer

A)   reapplied engineering
B)   post innovation
C)   recycling
D)   postcycling
E)   precyclingF) A) and D)
G) A) and C)

Question 17

would the following environmental trends influence the success of a manufacturer of televisions,DVD players,and related equipment: (1)growing number of older Americans; (2)population shifts to remote suburbs and small towns; (3)increase in per capita income and standard of living; and (4)increased use of various types of communication technology.

Accepted Answer

All four trends are relevant to growing ...

Question 18

Approximately one in __________ U.S.residents is African American,American Indian or Alaska Native,Asian American,or Native Hawaiian/Pacific Islander.

Accepted Answer

A)   ten
B)   seven
C)   five
D)   three
E)   twoF) B) and C)
G) A) and D)

Question 19

15 percent of the population born between 1965 and 1976,also called the baby bust,refers to __________.

Accepted Answer

A)   Generation X
B)   millennials
C)   Generation Y
D)   Generation Z
E)   baby boomersF) B) and E)
G) All of the above

Question 20

Which generational cohort is adept at managing their lives to create a work-life balance?

Accepted Answer

A)   baby boomers
B)   Generation Z
C)   Generation Y
D)   Generation X
E)   baby bustersF) D) and E)
G) A) and B)

Exam 3: Scanning the Marketing Environment

recent large decline in __________ has had 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

Powerful buyers exist when

Correct Answer
verified

Correct Answer
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All four trends are relevant to growing ...
View Answer

mother bought what she thought was a large box of unsweetened cereal.It was the same 22 oz.size as other brands whose boxes clearly marked.However,when she opened the box it was barely ¾ full.The Fair Packaging and Labeling Act would not protect her unless

Correct Answer
verified

Demographics refers to

Correct Answer
verified

Which of the following statements about the American household is most accurate?

Correct Answer
verified

blended family refers to a family

Correct Answer
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Technology refers to

Correct Answer
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Approximately one in __________ U.S.residents is African American,American Indian or Alaska Native,Asian American,or Native Hawaiian/Pacific Islander.

Correct Answer
verified

Australia built a strong reputation among women with its high quality sheepskin boots.The firm is now attempting to attract men with new products.To reach them,UGG is

Correct Answer
verified

Correct Answer
verified

Which generational cohort is adept at managing their lives to create a work-life balance?

Correct Answer
verified

Adjacent metropolitan statistical areas and micropolitan statistical areas may be grouped into __________ statistical areas.

Correct Answer
verified

Correct Answer
verified
Monopolistic competition occurs when man...
View Answer

Marketers have developed generational marketing programs because

Correct Answer
verified

Trademark Law Revision Act (1988)

Correct Answer
verified

Correct Answer
verified

Describe the three components of competition.

Correct Answer
verified
The three components of competition are:...
View Answer

metropolitan statistical area refers to

Correct Answer
verified

15 percent of the population born between 1965 and 1976,also called the baby bust,refers to __________.

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

recent large decline in __________ has had 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

Powerful buyers exist when

Correct AnswerverifiedShow Answer

Correct AnswerverifiedAll four trends are relevant to growing ...View AnswerShow Answer

mother bought what she thought was a large box of unsweetened cereal.It was the same 22 oz.size as other brands whose boxes clearly marked.However,when she opened the box it was barely ¾ full.The Fair Packaging and Labeling Act would not protect her unless

Correct AnswerverifiedShow Answer

Demographics refers to

Correct AnswerverifiedShow Answer

Which of the following statements about the American household is most accurate?

Correct AnswerverifiedShow Answer

blended family refers to a family

Correct AnswerverifiedShow Answer

Technology refers to

Correct AnswerverifiedShow Answer

Approximately one in __________ U.S.residents is African American,American Indian or Alaska Native,Asian American,or Native Hawaiian/Pacific Islander.

Correct AnswerverifiedShow Answer

Australia built a strong reputation among women with its high quality sheepskin boots.The firm is now attempting to attract men with new products.To reach them,UGG is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which generational cohort is adept at managing their lives to create a work-life balance?

Correct AnswerverifiedShow Answer

Adjacent metropolitan statistical areas and micropolitan statistical areas may be grouped into __________ statistical areas.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedMonopolistic competition occurs when man...View AnswerShow Answer

Marketers have developed generational marketing programs because

Correct AnswerverifiedShow Answer

Trademark Law Revision Act (1988)

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Describe the three components of competition.

Correct AnswerverifiedThe three components of competition are:...View AnswerShow Answer

metropolitan statistical area refers to

Correct AnswerverifiedShow Answer

15 percent of the population born between 1965 and 1976,also called the baby bust,refers to __________.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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All four trends are relevant to growing ...
View Answer

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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Monopolistic competition occurs when man...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The three components of competition are:...
View Answer

Correct Answer
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Correct Answer
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