Question 1

Marketers targeting Baby Boomers should use words such as "senior" and "elderly," to signal and attract their target audience.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following laws prohibits bribery of foreign officials to obtain business?

Accepted Answer

A)   Foreign Corrupt Practices Act of 1977
B)   Consumer Product Safety Act of 1972
C)   Homeland Security Act of 2002
D)   Restoring American Financial Stability Act of 2010E) A) and D)
F) B) and C)

Question 3

Which of the following federal agencies has the power to set mandatory safety standards for almost all products that consumers use example cribs,electronics and video games,school supplies,science kits,toys,and pacifiers?

Accepted Answer

A)   The Federal Trade Commission (FT
C)  
B)   The Food and Drug Administration (FD
A)  
C)   The Consumer Product Safety Commission (CPS
C)  
D)   The Bureau of Consumer ProtectionE) A) and C)
F) B) and C)

Question 4

Which statement is true of today's tweens in the United States?

Accepted Answer

A)   They are the first generation of latchkey children.
B)   Mobile devices account for 41 percent of all screen time for tweens.
C)   They are a larger cohort than Baby Boomers.
D)   They are aged between 14 and 18 years.E) B) and C)
F) A) and D)

Question 5

Which of the following is true about inflation?

Accepted Answer

A)   Inflation is an indicator of the decrease in the value of money.
B)   During periods of low inflation,businesses that seek to increase their profit margins can do so by increasing their prices significantly.
C)   Inflation is a period of economic activity characterized by negative growth.
D)   Inflation occurs when the gross domestic product falls for two consecutive quarters.E) All of the above
F) None of the above

Question 6

Social change is one of the easiest external variables for marketing managers to forecast and assimilate into marketing plans.

Accepted Answer

A) True 
 B)False

Question 7

A difference between Gen Yers and Baby Boomers is that,unlike Gen Yers,Baby Boomers:

Accepted Answer

A)   are currently in two different stages of the life cycle.
B)   are the most tech-savvy people yet.
C)   outspend in categories such as gifts and medical care.
D)   have a strong preference for full service restaurantsE) None of the above
F) A) and C)

Question 8

Which of the following statements is true of Baby Boomers?

Accepted Answer

A)   The youngest Baby Boomers were around 34 years old in 2013.
B)   They are most concerned with price and quality when making purchase decisions.
C)   The size of the Baby Boom cohort group has been increasing in size since 2012.
D)   They are a small market with minimal spending power.E) B) and C)
F) A) and B)

Question 9

Unlike the youngest Gen Yers,many of the oldest members of Generation Y:

Accepted Answer

A)   are entering adulthood.
B)   were the least affected by the Great Recession.
C)   turned 50 years old in 2016.
D)   have become parents.E) B) and D)
F) B) and C)

Question 10

The passage of the Restoring American Financial Stability Act of 2010 created the Consumer Financial Protection Bureau to protect consumers against unfair,abusive,and deceptive financial practices.

Accepted Answer

A) True 
 B)False

Question 11

A period of economic activity characterized by negative growth,which reduces demand for goods and services is called ________.

Accepted Answer

A)   a recession
B)   inflation
C)   a depression
D)   purchasing powerE) None of the above
F) C) and D)

Question 12

Gen Xers tend to be frugal and seek value when making purchases.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following acts outlaws discrimination in prices to different buyers; prohibits tying contracts (which require the buyer of one product to also buy another item in the line) ; and makes it illegal to combine two or more competing corporations by pooling ownership of their stocks?

Accepted Answer

A)   Clayton Act of 1914
B)   Sherman Act of 1890
C)   Federal Trade Commission Act of 1914
D)   Robinson-Patman Act of 1936E) B) and C)
F) None of the above

Question 14

Fincorp,an investment banking firm,promotes its offerings through various social media platforms.Which of the following statements is most likely to be true about Fincorp?

Accepted Answer

A)   The platforms display content solely generated by Fincorp.
B)   Fincorp uses its social media platforms to promote one-way communication,similar to network television.
C)   Fincorp reduces its reach by promoting its products via social media platforms.
D)   Fincorp can create conversations with its customers and establish meaningful connections.E) A) and D)
F) B) and C)

Question 15

A target market is a group of people or organizations for which an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group,resulting in mutually satisfying exchanges.

Accepted Answer

A) True 
 B)False

Question 16

As a means of product promotion,unlike television,social media enable firms to create conversations with customers and establish meaningful connections.

Accepted Answer

A) True 
 B)False

Question 17

Identify which statement is true regarding African Americans.

Accepted Answer

A)   Most African Americans are 50 years old or older,so they don't drive current music trends.
B)   Because of their rich heritage,African Americans believe in strong cultural connections.
C)   Most African Americans are not heavy users of technology.
D)   Lower household incomes,coupled with overall population growth,are causing the purchasing power of the African American consumers to decrease significantly.E) All of the above
F) B) and C)

Question 18

The population group that falls between ages 9 to 12 and presents great opportunity to American marketers with a huge spending power is known as:

Accepted Answer

A)   Generation X.
B)   teens.
C)   Generation Y.
D)   tweens.E) A) and D)
F) C) and D)

Question 19

Define innovation and discuss its importance and current approaches that companies use to stimulate it.

Accepted Answer

Technological success is based upon inno...

Question 20

Saving money is a major priority for _________,who are generally economical and look for value when making purchases.

Accepted Answer

A)   Gen Xers
B)   Millennials
C)   teens
D)   tweensE) B) and D)
F) A) and D)

Exam 4: The Marketing Environment

Which of the following federal agencies has the power to set mandatory safety standards for almost all products that consumers use example cribs,electronics and video games,school supplies,science kits,toys,and pacifiers?

Correct AnswerverifiedShow Answer

Define innovation and discuss its importance and current approaches that companies use to stimulate it.

Correct AnswerverifiedTechnological success is based upon inno...View AnswerShow Answer

A target market is a group of people or organizations for which an organization designs,implements,and maintains a marketing mix intended to meet the needs of that group,resulting in mutually satisfying exchanges.

Correct AnswerverifiedShow Answer

The population group that falls between ages 9 to 12 and presents great opportunity to American marketers with a huge spending power is known as:

Correct AnswerverifiedShow Answer

Saving money is a major priority for _________,who are generally economical and look for value when making purchases.

Correct AnswerverifiedShow Answer

Gen Xers tend to be frugal and seek value when making purchases.

Correct AnswerverifiedShow Answer

As a means of product promotion,unlike television,social media enable firms to create conversations with customers and establish meaningful connections.

Correct AnswerverifiedShow Answer

Fincorp,an investment banking firm,promotes its offerings through various social media platforms.Which of the following statements is most likely to be true about Fincorp?

Correct AnswerverifiedShow Answer

A period of economic activity characterized by negative growth,which reduces demand for goods and services is called ________.

Correct AnswerverifiedShow Answer

Which of the following is true about inflation?

Correct AnswerverifiedShow Answer

Which statement is true of today's tweens in the United States?

Correct AnswerverifiedShow Answer

The passage of the Restoring American Financial Stability Act of 2010 created the Consumer Financial Protection Bureau to protect consumers against unfair,abusive,and deceptive financial practices.

Correct AnswerverifiedShow Answer

Marketers targeting Baby Boomers should use words such as "senior" and "elderly," to signal and attract their target audience.

Correct AnswerverifiedShow Answer

Which of the following laws prohibits bribery of foreign officials to obtain business?

Correct AnswerverifiedShow Answer

Identify which statement is true regarding African Americans.

Correct AnswerverifiedShow Answer

Which of the following acts outlaws discrimination in prices to different buyers; prohibits tying contracts (which require the buyer of one product to also buy another item in the line) ; and makes it illegal to combine two or more competing corporations by pooling ownership of their stocks?

Correct AnswerverifiedShow Answer

Unlike the youngest Gen Yers,many of the oldest members of Generation Y:

Correct AnswerverifiedShow Answer

Which of the following statements is true of Baby Boomers?

Correct AnswerverifiedShow Answer

A difference between Gen Yers and Baby Boomers is that,unlike Gen Yers,Baby Boomers:

Correct AnswerverifiedShow Answer

Social change is one of the easiest external variables for marketing managers to forecast and assimilate into marketing plans.

Correct AnswerverifiedShow Answer

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Technological success is based upon inno...
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