Question 1

When Kimberly-Clark introduced rolls of toilet paper without the cardboard core, what social trend did this product respond to?
A) green marketing
B) time-poor society
C) cultural diversity
D) technological advances
E) regulatory issues

Accepted Answer

The introduction of toilet paper rolls without cardboard cores responds to the social trend of green marketing, as it eliminates waste and promotes environmental sustainability.

Question 2

Which macroenvironmental factor influences what, why, how, where, and when consumers buy?
A) culture
B) corporate partners
C) competition
D) company
E) competencies

Accepted Answer

Culture influences consumer behavior by shaping their values, beliefs, and norms, which in turn affect their purchasing decisions.

Question 3

Advertisements for Subway's Fresh Fit for Kids meal features a child being active, swinging on a tire swing. This ad is in direct response to which social trend?
A) environmentalism
B) outdoor recreation
C) health and wellness
D) green marketing
E) sustainable farming

Accepted Answer

The advertisement for Subway's Fresh Fit for Kids meal featuring a child being active on a tire swing is in direct response to the social trend of health and wellness, encouraging children to make healthy choices and stay active.

Question 4

Suppose that you are the vice president of marketing for Target, the large retail store chain. You want to keep your website and in-store services current with technological advances. You might consider experimenting with what is most likely the next expected development in mobile technology, which is
A) wireless payments from mobile devices.
B) location-based social media applications.
C) mobile devices completely replacing desktop and laptop computers.
D) devices that block smartphone usage in retail stores.
E) RFID tags.

Accepted Answer

Wireless payments from mobile devices are currently being adopted by many major retailers and are expected to become even more prevalent in the near future. This technology allows for easier and more efficient transactions, making it a logical choice for a retail store like Target to implement. The other options either do not directly relate to improving Target's website and in-store services or are not expected developments in mobile technology.

Question 5

A listing on eBay featured a refurbished iMac desktop computer; interested buyers all ranged in age from teenagers to adults with their own families. These interested buyers were likely from which generational cohort?
A) Baby Boomer
B) Gen X
C) Gen Y
D) Gen Z
E) the Digital Natives

Accepted Answer

Gen Y, also known as Millennials, includes individuals who are teenagers to adults with their own families, making them the likely cohort interested in a refurbished iMac.

Question 6

Which of the following specifically prohibits monopolies?
A) Sherman Antitrust Act
B) Federal Trade Act
C) Robison-Patman Act
D) Financial Reform Law
E) Consumer Product Act

Accepted Answer

The Sherman Antitrust Act specifically prohibits monopolies and promotes fair competition in business.

Question 7

If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except
A) offering an expanded menu of healthy options.
B) making nutritional information readily available to consumers.
C) using recycled paper in its food packaging.
D) using solar power in its restaurants.
E) creating an advertising campaign targeting elementary schoolchildren.

Accepted Answer

Elementary schoolchildren are not part of the social trends outlined in the text, which focuses on concerns about health, sustainability, and environmentalism. McDonald's would likely not choose to target this demographic in a new marketing strategy.

Question 8

In the summer of 2002 the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but in early 2016, the euro and the dollar were nearly equivalent. This change in value is called
A) interest destabilization.
B) inflation.
C) recession.
D) foreign currency fluctuations.
E) global financial impact.

Accepted Answer

The change in value between the euro and the dollar is caused by foreign currency fluctuations, as the exchange rate between the two currencies is constantly changing due to a variety of economic and political factors. The other options (interest destabilization, inflation, recession, global financial impact) do not specifically refer to the relationship between two currencies and their changing values.

Question 9

Which of the following is an example of greenwashing?
A) A company markets a product made from recycled glass bottles.
B) A company charges more for a hybrid car than for a similar gas model.
C) A company donates money to a school reading project so it can advertise itself as environmentally friendly.
D) The Smiths installed energy-saving lightbulbs in their rental apartment buildings.
E) The corner Laundromat stocks only phosphate-free detergent in its vending machines.

Accepted Answer

The company is using a donation to promote itself as environmentally friendly, rather than making actual sustainable improvements in its business practices. This is an example of greenwashing, where a company claims to be environmentally responsible without making meaningful changes.

Question 10

When Diana went to college, tuition was $650 per semester. Now that same college charges $6,500 per semester. This number reflects a persistent increase in price known as
A) currency fluctuation.
B) inflation.
C) recession.
D) interest.
E) deflation.

Accepted Answer

The persistent increase in price of college tuition is a clear example of inflation, which indicates a general increase in the prices of goods and services in an economy.

Question 11

What is most likely to happen when inflation increases?
A) Consumers buy more discretionary merchandise.
B) Consumers buy fewer personal care and home entertainment products.
C) Off-price and discount retailers suffer from lower sales.
D) Consumers buy lower-priced foods.
E) Consumers buy less food.

Accepted Answer

When inflation increases, the prices of goods and services increase. As a result, consumers tend to purchase lower-priced options, including buying lower-priced foods.

Question 12

From a firm's perspective, the biggest advantage of RFID is
A) it enables the firm to track an item from the moment it was manufactured.
B) it tells the firm who is buying the product and how it is being used.
C) it provides demographic information on the consumer for marketing use.
D) it is less expensive to use than other forms of marketing research.
E) it eliminates the need for communicating with the supply chain.

Accepted Answer

The biggest advantage of RFID from a firm's perspective is that it enables the firm to track an item from the moment it was manufactured. This helps in inventory management, supply chain management, and reducing losses.

Question 13

According to the text, 14 cable companies agreed to provide low-cost Internet access to impoverished families for all of the following reasons except
A) calls for greater social responsibility.
B) increased income from a larger number of subscribers.
C) increased access to faster broadband capabilities.
D) the economic status of consumers.
E) pressures from the Federal Communications Commission.

Accepted Answer

The answer of According to the text, 14 cable companies...

Question 14

________ is the cost to the customers or the fee the bank charges those customers for borrowing money.
A) Interest
B) A service charge
C) Tax
D) Tariff
E) A user fee

Accepted Answer

Interest is the cost charged by the bank to customers for borrowing their money. The interest rate is usually expressed as a percentage of the amount borrowed and is charged for the use of the money over a certain period of time.

Question 15

The government has enacted laws that promote both fair trade and competition by prohibiting the formation of monopolies or alliances that would damage a competitive marketplace, fostering fair pricing practices for all suppliers and consumers. These actions are part of the ________ environment of business.
A) communication
B) political/regulatory
C) constitutional
D) social
E) technological

Accepted Answer

The government enacting laws to promote fair trade and competition refers to the political/regulatory environment, which encompasses laws and regulations set by the government to provide a framework for business operations.

Question 16

The political/regulatory environment comprises political parties, governmental organizations, and
A) legislation and laws.
B) citizens.
C) interest groups.
D) for-profit and nonprofit businesses.
E) international influences.

Accepted Answer

The answer of The political/regulatory environment comprises political parties, governmental...

Question 17

The poorest 10 percent of the U.S. population earned less than $412 per week in 2014. This meant they had
A) average purchasing power.
B) median purchasing power.
C) high purchasing power.
D) no purchasing power.
E) the lowest purchasing power.

Accepted Answer

The poorest 10 percent of the U.S. population having earnings less than $412 per week indicates they had the lowest purchasing power compared to other income groups.

Question 18

Some companies have been accused of taking advantage of the current social trend of green marketing, positioning their products as environmentally friendly when this may not actually be the case. This is called
A) fake greening.
B) greenwashing.
C) greenbaiting.
D) green puffery.
E) red marketing.

Accepted Answer

The term for companies exaggerating or making false claims about the environmental benefits of their products is called greenwashing. Choice A, C, D, and E are not commonly used terms in the industry to refer to this practice.

Question 19

Christy, a marketing executive who was born in 1962, advocated that her company focus on a print campaign for its new line of lipsticks rather than spending money on online ads. This point of view may be attributed to the fact that she is a member of which generational cohort?
A) Baby Boomer
B) Gen X
C) Gen Y
D) Gen Z
E) Millennials

Accepted Answer

Christy was born in 1962, which places her in the Baby Boomer generation, typically defined as those born from 1946 to 1964. Baby Boomers often have a preference for traditional media like print.

Question 20

Which statement about the changing ethnicity in the United States is true?
A) Minorities now represent almost half of the population in the United States.
B) In spite of an increase in the Hispanic population, Hispanic buying power is expected to maintain its current level.
C) Hispanics differ vastly from other groups in America in terms of consumer behavior.
D) African American U.S. households are more affluent than previous studies suggested.
E) Asian Americans are the slowest-growing minority population.

Accepted Answer

The answer of Which statement about the changing ethnicity in...

Quiz 5: Analyzing the Marketing Environment

When Kimberly-Clark introduced rolls of toilet paper without the cardboard core, what social trend did this product respond to?

Which macroenvironmental factor influences what, why, how, where, and when consumers buy?

Advertisements for Subway's Fresh Fit for Kids meal features a child being active, swinging on a tire swing. This ad is in direct response to which social trend?

A listing on eBay featured a refurbished iMac desktop computer; interested buyers all ranged in age from teenagers to adults with their own families. These interested buyers were likely from which generational cohort?

Which of the following specifically prohibits monopolies?

If McDonald's wanted to change its marketing strategy in response to the social trends outlined in the text, it might consider all of the following ideas except

In the summer of 2002 the euro was valued at slightly less than US$1. By 2008, it had risen to an all-time high of $1.60, but in early 2016, the euro and the dollar were nearly equivalent. This change in value is called

Which of the following is an example of greenwashing?

When Diana went to college, tuition was $650 per semester. Now that same college charges $6,500 per semester. This number reflects a persistent increase in price known as

What is most likely to happen when inflation increases?

From a firm's perspective, the biggest advantage of RFID is

According to the text, 14 cable companies agreed to provide low-cost Internet access to impoverished families for all of the following reasons except

________ is the cost to the customers or the fee the bank charges those customers for borrowing money.

The political/regulatory environment comprises political parties, governmental organizations, and

The poorest 10 percent of the U.S. population earned less than $412 per week in 2014. This meant they had

Some companies have been accused of taking advantage of the current social trend of green marketing, positioning their products as environmentally friendly when this may not actually be the case. This is called

Christy, a marketing executive who was born in 1962, advocated that her company focus on a print campaign for its new line of lipsticks rather than spending money on online ads. This point of view may be attributed to the fact that she is a member of which generational cohort?

Which statement about the changing ethnicity in the United States is true?