Marketing Chapter 3

The role of a​ company's marketing intermediaries is to do which of the​ following?

• Manage the​ company's human resources efforts

  Manage the​ company's human resources efforts

• Determine which products a company should market

• Provide the resources needed by the company to produce goods and services

• Purchase the​ company's product

• Help the company​ find, promote,​ sell, and distribute products

The​ demographic, economic,​ natural, technological,​ political, and cultural forces that affect a​ company's ability to serve its customers make up which of the​ following?

• Macroenvironment

• Technological environment

• Marketing environment

• Microenvironment

• Cultural environment

Nguyen's Sporting Goods is having difficulty obtaining the credit it needs to expand. What should the company do in order to alleviate its financial​ situation?

• Devise a marketing plan with a marketing service agency

• Analyze the finances of one of its competitors

• Work out a plan with its financial intermediaries

• Reexamine its relationship with its resellers

• Find a new physical distribution firm

Dylan Parker owns 27 acres on a farmstead in Iowa.​ Recently, as he was plowing a​ field, he came across a rich silver vein in the ground. Realizing his​ bounty, he decided to open a new business selling silver. Not knowing much about the marketing​ environment, he asks you what he should do. Which of the following is the BEST​ advice?

• Dylan should focus on farming and ignore the silver vein.

• Dylan should focus on the business market and sell the raw silver for further processing.

• Dylan should focus on the consumer market and sell silver directly for personal consumption.

• Dylan should reach out to reseller markets to sell his silver quickly.

• Dylan should set his attention to the government markets.

How does the microenvironment of a company differ from its​ macroenvironment?

• The microenvironment deals with the big​ problems, whereas the macroenvironment deals with trivial problems.

• The microenvironment is​ company-based, whereas the macroenvironment is​ customer-based.

• The microenvironment affects a larger portion of the company than the macroenvironment.

• The microenvironment uses more financial resources than the macroenvironment.

• The microenvironment deals with the​ company, suppliers, marketing​ intermediaries, customer​ markets, competitors, and publics.

The group of factors that affect​ consumers' purchasing power and spending patterns is called the​ _________________.

• sociocultural environment

• natural environment

• political environment

• demographic environment

• economic environment

​__________________ is a group numbering 55 million or more consumers and sometimes is an overlooked​ "in-between" consumer group because it is both smaller and less materialistic than other groups and prizes​ experience, not acquisition.

• Baby boomers

• Generation Z

• Generation X

• Senior citizens

• Echo boomers

Roper's Radical Racers is an upscale company that sells cars primarily to racecar drivers and movie producers. In the​ past, Roper's Radical Racers marketed itself to the​ fun-loving

driver—the

driver who wanted to​ "race with​ life." However, in the current​ economy, Roper's has changed its slogan to​ "superior speed, superior​ savings." Roper's Radical Racers is engaging in which of the​ following?

• Value marketing

• Diversity targeting

• Income distribution

• Market consideration

• Price slashing

Of the​ following, which best reflects how the American population has changed over​ time?

• It has become closer knit and more​ family-oriented.

• It has become more likely to develop brand loyalty.

• It has become​ wealthier, more​ cultured, and more frivolous in its spending habits.

• It has become more​ diverse, better​ educated, and more mobile.

• It has become more skeptical about marketing schemes.

From a marketing​ standpoint, which of the following BEST describes Baby​ Boomers?

• They constitute a lucrative market for financial​ services, new housing and home​ remodeling, new​ cars, travel and​ entertainment, eating​ out, and health and fitness products.

• They blend the online and offline worlds seamlessly as they socialize and shop.

• They are slowing down as they age.

• They tend to research products before they consider a purchase.

• They are more likely to be receptive to irreverent ad pitches that make fun of convention and tradition.