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At the center of all analyses of the marketing environment is the and his or her specific behavior and attitudes.
Consumers
 
The decision-making process organizations use in establishing a need for products and choosing among different providers of them is called
organization buying behavior
 
Online trading communities that bring together buyers and supplier organizations are known as
E-markets
 
products are simply sold to the buyer with the highest bid.
traditional
 
The most important immediate environmental factors that impact consumers are the ______.
Company capabilities, competitors, physical environment, and corporate partners
 
To determine if an opportunity is attractive or unattractive for a firm, marketers can use an analysis of the external and internal environments such as ______.
SWOT analysis
 
What must marketers understand about their competition? (Choose every correct answer.)
Their strengths
Their likely response to marketing activities
Their weaknesses
 
If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ______.
Corporate Partner
 
When launching a new clothing line, a company must focus primarily on the needs and wants of ______.
Consumers
 
There is increasing concern that ______ will be depleted through actions such as deforestation.
The physical environment
 
Which of the following are factors that affect consumers' immediate environment? (Check all that apply.)
Corporate partners
Competitors
Company capabilities
 
Which of these is NOT a macroenvironmental factor that directly influences a firm?
Competition
 
A company must be able to evaluate an attractive opportunity in relation to its ______ competencies.
Existing
 
is defined as the shared meanings, beliefs, morals, values, and customs of a group of people.
Culture
 
When developing marketing plans, what should a firm consider about their competition?
Their likely reaction
 
What are some components of a country's culture? (Choose every correct answer.)
Language differences
Food preferences
 
A smartphone manufacturer may collaborate with a company that makes lithium-ion batteries to ensure that their
phones have the longest possible battery life. The battery maker is considered the smartphone company's ______ partner.
Corporate
 
Characteristics of human populations such as gender and race.
Demographics
 
Which of the following are considered aspects of the physical environment? (Choose every correct answer.)
Land
Water
Living organisms
 
Consumers in a cohort are a group of people in the same generation who tend to have similar buying behaviors.
Generational
 
Which word best describes the social, political, economic, and technological factors with which marketers interact?
Macroenvironment
 
What are Digital Natives also called?
Generation Z
 
Which of the following are components of culture? (Choose every correct answer.)
Morals
Customs
Beliefs
 
A company may choose to launch the same advertising campaign globally.
This particular campaign may be launched with identical pictures and messages but in different languages.
Advertisers might try to bridge the cultural gap by appealing to ______ across countries.
The same target market
 
When were Millennials born?
Between 1981 and 1996
 
Data that indicates the characteristics of human populations and segments is known as ______.
Demographics
 
Which generation consists mostly of the children of Baby Boomers?
Millennials
 
What is the name for a group of individuals who are of the same generation?
Generational cohort
 
What are some characteristics of Generation X? (Choose every correct answer.)
About half are simultaneously caring for their parents and children
Born between 1965 and 1980
Considered latchkey children
 
Members of Generation have never known a time without the Internet and electronic gadgets.
Z
 
Which generational cohort was born between 1946 and 1964?
Baby boomers
 
What are possible reasons for the increase in wealthy families? (Choose every correct answer.)
Increase in dual-income households
Aging of the general population
 
Which is the largest generational cohort since the Baby Boomers?
Gen Y
 
Which cohort came of age during the Great Recession?
Millennials
 
Which of the following is the generational cohort that consists of people born between 1965 and 1980?
Generation X
 
Which of the following are true of Baby Boomers? (Check all that apply.)
They are born between 1946 and 1964.
They will be the largest population of 50-plus consumers the United
States has ever seen.
 
Which of the following can help predict consumer buying patterns? (Check all that apply.)
Income earned
Education attained
 
Which income groups' purchasing power is growing relative to other income groups?
Highest-income groups
 
Which of the following are reasons marketers are increasingly embracing gender neutrality?
(Check all that apply.)
There are shifts in status, attitudes, and behaviors of women that affect the way many firms
need to design and promote their products and services.
Gender roles are no longer as distinct as they once were.
 
The International Fairtrade Certification Mark is granted to products that do which of the following?
(Choose every correct answer.)
Promote sustainable farming
Improve environmental standards for producers
 
Organizational buying behavior revolves around a ________ that has similarities to consumer buying behaviors.
decision making process
 
More than two-thirds of the global dollar value of online purchase transactions arise from
organizational buyers
 
The number of people involved in the buying center, the amount of decision time, and the number of suppliers
considered are some of the factors that determine the
buy class
 
What is the average yearly income for young adults with a bachelor's degree in the United States?
$55,000
 
A food refers to an area or neighborhood where there is limited or no access to healthy, affordable fresh food options.
Desert
 
From a marketing perspective, focusing on mobile devices accomplishes what?
It makes it more likely that a consumer will spend more at a retailer.
 
Customers generally prefer talking to a salesperson when they need information over searching on the Internet.
False
 
Which factor should marketers keep in mind about gender when promoting goods and services?
The status and earning power of women have increased in recent decades.
 
are increasingly performing work, like filling orders, that humans used to do.
Robots
 
Consumers who hesitate to purchase goods because they worry about the potentially low wages paid to
workers in the fast fashion industry are expressing ______ concerns.
Sustainability
 
What are current trends in food marketing and distribution? (Choose every correct answer.)
Reducing food waste
Opening grocery stores in food deserts
 
Marketers use mobile devices and apps to improve the consumer experience by offering convenience and information.
True
 
Which items could be included in the Internet of Things? (Choose every correct answer.)
Refrigerators
Coffee machines
Washers and dryers
 
What tasks are firms increasingly using artificial intelligence (AI) to complete? (Choose every correct answer.)
Speech recognition
Translations
Decision making
 
An example of inflation would be when increasing prices cause the purchasing power of the dollar to ______.
Decline
 
Which of the following services do the robots entering the marketplace provide? (Check all that apply.)
Delivering goods via driverless cars
Filling orders
Counting cash
 
When several people in an organization participate in purchase decisions, often for more important or
expensive contracts, it is called
buying center
 
Straight rebuys, modified rebuys, and new buys are the three types of
buy classes
 
Large chain resellers may have a highly formalized ________ called a buying committee to make purchasing
decisions, while most industrial firms and government units use informal groups.
buying center
 
what buy classes involves the greatest potential risk to the buyer?
new buy
 
Changes in the value of the euro in relation to the dollar over time is an example of which of the following?
Foreign currency fluctuation
 
The Internet of occurs when there are numerous "smart devices" that work together to help both consumers and companies
consume more efficiently things
 
Which type of business would be the most likely to see food sales suffer as a result of inflation and rising costs
and consumers' desire to save money?
An Upscale Steakhouse
 
Refers to an increase in the prices of goods and services and a decline in purchasing power.
Inflation
 
The political/legal environment consists of which of the following? (Choose every correct answer.)
Political parties
Laws and legislation
 
Gretchen lives in the United States and is going on vacation to Australia. She wants to go when it makes the
most economic sense for her. Which of the following would be the best time for Gretchen to go?
Gretchen should go when the US dollar is strong and Australian currency is weak.
 
Which goods and services are most likely to suffer a downturn when interest rates rise?
Luxury cars
 
In the United States, data about all economic activity is categorized into a hierarchical set of six-digit NAICS codes.
What does NAICS stand for?
North American Industry Classification System (NAICS)
 
The typical purchase involved in an organizational buying exchange is ________ that in consumer buying.
larger in size than
 
The decision-making process organizations use in establishing a need for products and choosing among different
providers of them is called
organizational buyer behavior
 
means that the demand for industrial products and services is driven by demand for consumer products and services.
derived demand
 
Price, technical capability, and warranties are typical ________ used by industrial buyers to evaluate other firms.
organizational buyer criteria
 
When an organization buys raw materials that are reprocessed and sold as finished goods, or if it buys goods it will then sell
organizational buyer
 
Which of the following is typical of organizational buying compared to consumer buying?
there are far few buyers
 
Industrial, reseller, and government markets are the three categories of ________ buyers.
organizational
 
main reason that business organizations buy products?
increase profitability
 
Derived demand refers to the concept that demand for industrial products is driven by
demand for consumer products
 
typical of organizational buying compared to consumer buying?
purchase size is larger
 
In organizational buying, objective attributes of a supplier's products and the capabilities of the supplier itself are known as...
organizational buying criteria
 
Firms selling to organizational buyers have ________ potential customers compared to firms selling to consumers.
far fewer
 
The industrial buying practice in which two organizations agree to
purchase each other's products is known as
reciprocity
 
Reciprocity is an industrial buying practice in which
two organizations agree to purchase each other's products.