Marketing Quiz 1

6 October 2022
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question
The _____ is an information and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digitized offerings
answer
marketspace
question
According to one of the world's largest publishers, it was unprepared for recent increases in the demand for books about personal security. If the publisher had _____, it would have been prepared for the increase in demand.
answer
tracked environmental trends as a part of its ongoing operation
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Kmart ran an ad campaign that emphasized the retail chain's new orientation toward lower prices on everyday products. This ad campaign was intended to appeal to:
answer
value conscious consumers.
question
The competitive situation where AT&T, MCI, and Sprint control approximately 80 percent of the international long-distance telephone market is called a(n):
answer
oligopoly
question
Jaime goes to the supermarket to buy lotion. She always buys the same brand, so she knows exactly what the bottle looks like. Jaime is in a hurry, so she grabs what she thinks is her usual lotion and checks out. When she returns home, she notices that the brand name of the lotion is different from her usual one and in fact realizes she has purchased a "no-name" brand that looks like her usual brand. Which federal law has the no-name brand manufacturer most likely violated?
answer
Lanham Act
question
The sector of the macro-environment that is experiencing the most rapid rate of change is the _____sector.
answer
technological
question
In recent years, consumers have protested against Starbucks' practice of buying cheap coffee from Colombian farmers and then selling pennies' worth of coffee for high prices in their stores here in the U.S. These "grass roots movements" by consumers are referred to as:
answer
consumerism
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The invention of maize (a type of corn) plastics, which are more environmentally friendly than their petroleum counterparts, can be seen as a reaction to a trend in which sector of the marketing environment?
answer
Natural
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Suppose that Jean, the manufacturer of "Jean's finger-licking good ribs" decided to begin selling his ribs to different supermarkets in Florida. It costs Jean the same amount of money to produce and distribute the ribs, but since he perceives Publix to be a higher quality store than Winn Dixie, he decides to charge Publix $150 per case and Winn Dixie $125 per case. This practice, which is known as ________, is illegal under the ________.
answer
price discrimination, Robinson-Patman Act
question
Sound Vision Inc./Armchair Electronics just released a new product called TV ShareCam, the first digital camera that displays pictures on the TV rather than a computer. The research and development team at Sony purchases a TV ShareCam and takes it apart, so they can get a better idea at how Sound Vision Inc. made the product. This is an example of:
answer
reverse engineering
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The set of values, ideas, and attitudes of a homogeneous group of people that are transmitted from one generation to the next is called:
answer
culture
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Which of the following is an example of the legal/regulatory environment surrounding advertising and promotional activities of businesses?
answer
the Federal Trade Commission
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A _____ is formed by the merging of two previously separate units into a single household.
answer
blended family
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The Consumer Sentiment Index (also discussed in class as the Index of Consumer Confidence) is an important indicator in which sector of the macro-environment?
answer
Economic
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Christina adds up all of her paychecks from 2004. Her "take-home" pay for the year is her _______ income.
answer
disposable
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Cadillac is preparing to build a new assembly plant in the United States. Although it would be slightly cheaper to build cars in Michigan, the company decides to place the factory in Louisiana, which is closer to the region where the cars are in greater demand. The overall result is faster delivery on average and lower delivery costs. Cadillac is responding to what environmental trend?
answer
The U.S. population is shifting to the Sunbelt
question
The marketers of a line of luxury watches should be most concerned with a prospective customer's:
answer
Discretionary Income
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Which of the following has the most impact and is the most predictable macro-environmental trend marketers are currently aware of in the U.S. marketplace?
answer
The "graying" of America.
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The most important step for a company in strategic environmental scanning is:
answer
interpretation, taking the time to figure out what the changes may mean for the company.
question
The invention of maize (a type of corn) plastics, which are more environmentally friendly than their petroleum counterparts, can be seen as a reaction to a trend in which sector of the marketing environment?
answer
Natural