1

INCORRECT
A good marketer can identify potential opportunities by paying close attention to customer needs and
continuously monitoring
A) buyers' cognitive dissonance.
B) the business environment in which the company operates.
C) just-in-time marketing promotions.
D) employees' reaction to marketing campaigns.
E) the price of a company's stock.
Feedback:
Learning Objective: LO1 - Outline how customers, the company, competitors, and corporate
partners affect marketing strategy.
Level: Medium
Blooms: Understand
AACSB: Analytic
Topic: A Marketing Environment Analysis Framework
Consumers do not want products or services. They want their needs and desires fulfilled.
Marketers can identify opportunities by monitoring the business environment within which the
company operates, looking for unfulfilled needs and wants.
2
INCORRECT
A firm's macroenvironment includes _____________ factors, which the marketer cannot
_______________.
A) corporate; anticipate
B) customer-focused; effectively monitor
C) demographic; measure
D) external; control
E) competition; ignore
Feedback:
Learning Objective: LO2 - Explain why marketers must consider their macroenvironment when
they make decisions.
Level: Medium
Blooms: Understand
AACSB: Analytic
Topic: Macroenvironmental Factors
A firm's macroenvironment includes political/regulatory, cultural, demographic, economic, social,
and technological factors. These are factors the firm cannot control, but which can influence the
success or failure of its marketing strategies.
3
INCORRECT
The _____________ is the center of all marketing efforts.
A) product
B) marketing mix
C) mission
D) consumer
E) firm
Feedback:
Learning Objective: LO1 - Outline how customers, the company, competitors, and corporate
partners affect marketing strategy.
Level: Easy
Blooms: Remember
AACSB: Analytic
Topic: A Marketing Environment Analysis Framework
In earlier marketing eras, particularly the production era, firms focused on what they could
produce. Today, firms need to focus on creating value for customers.
4
INCORRECT
Which of the following is NOT a macroenvironmental factor?
A) the economic situation
B) changes in laws and regulations
C) demographics
D) culture
E) the firm's competitors
Feedback:
Learning Objective: LO2 - Explain why marketers must consider their macroenvironment when
they make decisions.
Level: Easy
Blooms: Remember
AACSB: Analytic
Topic: Macroenvironmental Factors
Competitors are an aspect of the immediate environment.
5
INCORRECT
__________ is the shared meanings, beliefs, morals, values, and customs of a group of people.
A) Demographics
B) Culture
C) A generational cohort
D) Ethnicity
E) A social trend
Feedback:
Learning Objective: LO2 - Explain why marketers must consider their macroenvironment when
they make decisions.
Level: Easy
Blooms: Remember
AACSB: Analytic
Topic: Macroenvironmental Factors
Culture is the term used for a collection of shared values and beliefs.
6
INCORRECT
Compared to other groups, members of the _______________ generational cohort are more likely to
marry and buy homes later in life, are more cynical, are shopping savvy and are considered to be astute
consumers.
A) Baby Boom
B) Generation X
C) Generation Y
D) Generation Z
E) Seniors
Feedback:
Learning Objective: LO3 - Describe the differences among the various generational cohorts.
Level: Medium
Blooms: Understand
AACSB: Analytic
Topic: Generational Cohorts
Members of the Generation X cohort possess considerable spending power because they tend to
get married later and buy houses later in life. They're much less interested in shopping than their
parents and far more cynical, which tends to make them astute consumers
7
INCORRECT
Which of the following is NOT an important trend, as outlined in your text, that marketers must monitor
in the macroenvironment?
A) green marketing
B) red/blue marketing in election years
C) emphasis on thrift
D) privacy concerns
E) health and wellness concerns
Feedback:
Learning Objective: LO4 - Identify various social trends that impact marketing.
Level: Easy
Blooms: Remember
AACSB: Analytic
Topic: Social Trends
While political candidates may practice elements of marketing, some key trends facing for profit
and not-for-profit marketers alike are green marketing, health/wellness concerns, privacy
concerns, a greater emphasis on thrift, and time-poor societies.
8
INCORRECT
Consumers' privacy concerns led to enactment of the
A) Robinson-Patman Act.
B) Federal Trade Commission's Do Not Call registry.
C) Fair Packaging and Labeling Act.
D) Child Protection Act.
E) Federal Food and Drug Act.
Feedback:
Learning Objective: LO4 - Identify various social trends that impact marketing.
Level: Easy
Blooms: Remember
AACSB: Analytic
Topic: Privacy Concerns
The Do Not Call registry was created in response to consumers' concerns about intrusive
telemarketing calls. The other items are pieces of legislation unrelated to privacy.
9
INCORRECT
Marketers must consider the political and regulatory environment, which may have a profound impact on
competition, promotion, product safety and the operation of the marketplace. Key players in this
environment include all of the following EXCEPT
A) legislators.
B) regulatory agencies.
C) political parties.
D) courts.
E) stock exchanges.
Feedback:
Learning Objective: LO4 - Identify various social trends that impact marketing.
Level: hard
Blooms: Remember
AACSB: Analytic
Topic: Political/Regulatory Environment
Stock exchanges have their own rules and regulations, but they do not regulate firms the way
governments do.
10
INCORRECT
Market research firms can provide information indicative of human population segments such as age,
gender, race and income. This information can provide marketers with a "snapshot" of the typical
consumer in a specific target market and are collectively referred to as
A) psychographics.
B) macroenvironmental factors.
C) demographics.
D) microenvironmental factors.
E) generational cohorts.
Feedback:
Learning Objective: LO2 - Explain why marketers must consider their macroenvironment when
they make decisions.
Level: Easy
Blooms: Remember
AACSB: Analytic
Topic: Demographics
Demographics indicate the characteristics of human populations and segments, especially those
used to identify consumer markets.