Chapter 5 Test - Analyzing the Marketing Environment 2024

Name

1. Who is at the center of all marketing efforts?

• Advisors
• Customers
• Investors
• Employees

2. The three (3) factors that make up the Immediate Marketing Environment are: company, corporate partners, and ?

• Customers
• Technology Advancements
• Competitors
• Economy

3. In the immediate marketing environment, the first factor that affects the consumer is the

• Company
• Consumer
• Demographics
• Culture

4. The the six (6) factors that make up the Macro Environment are culture, demographics, technological advancements, political/regulatory environment,

• customers, and competitors
• company and corporate partners
• health, and wellness
• social trends, and economic situations

5. Marketers targeting groups that have similar purchase behaviors due to having shared experiences and being in the same stage of life is referred to as which demographic?

• Income
• Generational cohort
• Education
• Finding foggey

6. The defining products, services, skills and capabilities that give a business advantages over its competitors, or the advantages that separate a company from its competition are known as a company's

• Core capabilities
• Customers
• Mission and Vision
• Immediate environment

7. Demographic data provides an easily understood snapshot of the typical consumer in a specific target market, but this data shifts over time and requires marketers to constantly monitor trends.

• True
• False

8. It is critical for marketers to understand their company’s competitors

• Health and wellness
• Strengths and weaknesses
• Core values
• Political and regulatory environments

9. Most companies operate in isolations, therefore corporate partners are rarely considered in the decision making process.

• True
• False