Question 1

Markets with a segment of very wealthy consumers, but high income disparity, present few opportunities to marketers.

Accepted Answer

While there may be a smaller segment of very wealthy consumers in such markets, there may still be opportunities to target them with luxury goods and services. Additionally, there may be growth opportunities by targeting the rising middle class in these markets.

Question 2

What are the different income-distribution patterns? How does income distribution in the economies affect the marketing decision of the firms?

Accepted Answer

The answer of What are the different income-distribution patterns? How...

Question 3

Business has responded to increased awareness of nature's fragility and finiteness by producing wider varieties of camping, hiking, boating, and fishing gear such as boots, tents, backpacks, and accessories.

Accepted Answer

The statement is true.

Question 4

Suppose the people of Greenworld, an island in the southwest Pacific, are primarily involved in the direct procurement of edible plants and animals from the wild, foraging and hunting without significant recourse to the domestication of either. On the contrary people in Newland, a country rich in petroleum resources, export petroleum to the industrial countries. Which of the two countries mentioned above is likely to offer greater marketing opportunities for luxurious goods and why?

Accepted Answer

The answer of Suppose the people of Greenworld, an island...

Question 5

A growing portion of US R&D expenditures goes to the development as opposed to the research side.

Accepted Answer

According to the National Science Foundation, the majority of US R&D expenditures in recent years have gone to development (applied research, experimental development, and R&D plant) rather than basic research.

Question 6

Industrial economies provide limited marketing opportunities for luxurious goods.

Accepted Answer

Industrial economies provide significant marketing opportunities for luxurious goods, as people have more disposable income to spend on high-end products.

Question 7

Why do companies need to search for practical means to harness renewable sources of energy like wind and water?

Accepted Answer

The answer of Why do companies need to search for...

Question 8

Corporate environmentalism recognizes the need to integrate environmental issues into the firm's strategic plans.

Accepted Answer

Corporate environmentalism places emphasis on incorporating environmental concerns into a company's overall strategy and decision-making processes.

Question 9

Regulation of technological changes has been relaxed by the US government over recent years.

Accepted Answer

The answer of Regulation of technological changes has been relaxed...

Question 10

Crocs clogs, Elmo TMX doll, and Pokemon gifts and toys are examples of megatrends, which are unpredictable, short-lived, and without social, economic, and political significance.

Accepted Answer

Megatrends are significant and long-lasting shifts in societal values, attitudes, and behaviors that have major impacts on various aspects of society. Crocs, Elmo TMX doll, and Pokemon toys are examples of fads or trends, which are short-lived and often driven by popularity or novelty.

Question 11

Companies can prepare as many as ________ different types of demand estimates.
A) 6
B) 30
C) 60
D) 90
E) 150

Accepted Answer

The answer of Companies can prepare as many as ________...

Question 12

Firms that can develop substitute materials for finite nonrenewable resources have an excellent opportunity.

Accepted Answer

Developing substitute materials for finite nonrenewable resources can provide a competitive advantage for firms and create new business opportunities for them. As the availability of nonrenewable resources dwindles, firms that can offer cost-effective alternatives will be in high demand.

Question 13

The United States has one of the world's highest percentages of college-educated citizens. What can be the possible implications of this observation to the marketing environment of a US firm?

Accepted Answer

The answer of The United States has one of the...

Question 14

Environmental regulations enforced by the government adversely affect automobile and steel manufacturing companies.

Accepted Answer

Environmental regulations often require automobile and steel manufacturing companies to invest in costly technologies and processes to reduce emissions and waste. This can increase their operational costs and decrease their profitability. Additionally, stricter regulations may limit the production capacity of these companies, leading to potential job losses and reduced competitiveness in the global market.

Question 15

Discuss the impact of tougher environmental regulations on businesses, citing examples whenever possible. Also, point out opportunities, if any, presented by these regulations.

Accepted Answer

The answer of Discuss the impact of tougher environmental regulations...

Question 16

Assume that you are a marketing manager for a youth clothing manufacturer that has just read about the megatrend of the "rising Hispanic influence" in the United States. Explain this megatrend and indicate why it might be important to your company.

Accepted Answer

The answer of Assume that you are a marketing manager...

Question 17

Secondary beliefs and values are passed on from parents to children and reinforced by major social institutions, making them very difficult to change by marketers.

Accepted Answer

Secondary beliefs and values are more open to change than core beliefs and values, making them somewhat easier for marketers to influence through advertising and other promotional strategies.

Question 18

The available purchasing power in an economy depends on current income, prices, savings, debt, and credit availability.

Accepted Answer

The factors listed (current income, prices, savings, debt, and credit availability) all affect the available purchasing power in an economy.

Question 19

Environmental laws imposed by the government may at times create new business opportunities.

Accepted Answer

Environmental laws such as those promoting renewable energy or requiring companies to properly dispose of waste may create new business opportunities for companies that provide these types of services or products.

Question 20

The time between introduction of products and peak production is shrinking.

Accepted Answer

With advancements in technology and manufacturing processes, companies are able to bring products to market faster and ramp up production more quickly, resulting in a shorter time period between introduction and peak production.

Quiz 3: Collecting Information and Forecasting Demand