Question 1

List and explain the four core values that have strongly influenced American attitudes and lifestyles.

Accepted Answer

Answers will vary. The four basic values...

Question 2

Middle-class customers are increasingly unwilling to spend their money on household staples with extra features because of lower income.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following statements is true about the Great Recession of 2008-2009?

Accepted Answer

A)  Tweens were the most affected population group.
B)  Inflation rates increased to almost ten percent.
C)  It began with the collapse of inflated housing prices.
D)  It increased employment opportunities in the United States.

Question 4

Martha visits a departmental store and discovers that a box of exotic candles will cost her ten percent more than what she had paid six months ago. The increase in prices is the same across the country. In this scenario, which of the following statements is true?

Accepted Answer

A)  She would have immediate purchasing power if she had a pay raise to match the inflation.
B)  She has to pay twelve percent more than what she paid last month.
C)  The departmental store is trying to earn more profits by increasing the prices of its goods.
D)  The candles' subjective value increases with the increase in inflation.

Question 5

Millennials tend to be influenced more by traditional advertising, sales reps, and word-of-mouth recommendations than through digital media.

Accepted Answer

A) True 
 B)False

Question 6

Unlike people who belong to Generation X, baby boomers:

Accepted Answer

A)  do not use social media or other technologies to buy products.
B)  tend to be influenced more by traditional advertising and word-of-mouth recommendations.
C)  spend less on gifts, personal care products, medical care, food away from home, and entertainment.
D)  graduated from college during the Great Recession.

Question 7

Teens command a negligible amount of buying power.

Accepted Answer

A) True 
 B)False

Question 8

Unlike the youngest Gen Yers, many of the oldest members of Generation Y:

Accepted Answer

A)  are entering adulthood.
B)  were the least affected by the Great Recession.
C)  turned 50 years old in 2016.
D)  have become parents.

Question 9

Identify a true statement about the Great Recession.

Accepted Answer

A)  The economy completely recovered from the Great Recession in 2009.
B)  The Great Recession spread around the globe by 2008.
C)  The middle class was the least affected by the Great Recession.
D)  The Great Recession increased employment rates to almost ten percent.

Question 10

Which of the following statements is true of Generation Y?

Accepted Answer

A)  Its members are not as hard-working and motivated as other generations.
B)  Its members have been raised from childhood to adulthood in the digital world.
C)  Its members have the least spending power than any other cohort.
D)  Its members are the first generation of latchkey children.

Question 11

Which of the following statements is true of today's consumers in the United States?

Accepted Answer

A)  They emphasize on a product's price rather than its quality.
B)  They seldom give preference to brand names.
C)  They are concerned about the nutrition in their food.
D)  They tend to choose products that are expensive.

Question 12

Which of the following can be considered demographic information of a person?

Accepted Answer

A)  Intelligence quotient level
B)  Beliefs
C)  Skill sets
D)  Age

Question 13

In the context of populations in the United States, Millennials:

Accepted Answer

A)  are now more in number than baby boomers.
B)  spend the most on food than any other cohort.
C)  have been the least affected by the Great Recession.
D)  are less interested in technology than any other group.

Question 14

Which of the following statements is true of a target market?

Accepted Answer

A)  Environmental scanning is performed by firms in order to prevent changes in a target market.
B)  Unlike uncontrollable variables, controllable variables do not affect a target market.
C)  Uncontrollable elements continually evolve and create changes in a target market.
D)  Managers can control the external environment that molds and reshapes a target market.

Question 15

Paulina is an eleven-year-old girl. She spends a lot of time on social media and likes mobile games. In this case, Paulina is most likely to be a:

Accepted Answer

A)  baby boomer.
B)  Millennial.
C)  Gen Xer.
D)  tween.

Question 16

Which of the following statements is true of tweens?

Accepted Answer

A)  Tweens do not spend money on themselves and are reliant on their parents and relatives.
B)  Most tweens prefer and value traditional media over social media unlike other cohorts.
C)  Tweens are influenced by sales reps and word-of-mouth recommendations.
D)  Most tweens own a mobile phone and almost half of them have smartphones.

Question 17

The Bureau of Competition provides information and holds conferences and workshops for consumers, businesses, and policy makers on competition issues for market analysis.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following statements is true about the trends prevalent among the various ethnicities in ethnic markets?

Accepted Answer

A)  African Americans do not consider cultural/ethnic heritage as a critical part of their identity.
B)  Hispanics of older generations are more likely to be bilingual than Hispanic Millennials.
C)  Asian Americans retain strong core values even if they embrace American values.
D)  Asian Americans are less educated than any other minority group.

Question 19

The Federal Trade Commission's Bureau of Competition _____.

Accepted Answer

A)  promotes restraint of trade among business firms
B)  encourages monopolization and agreements between competitors
C)  promotes anti-competitive strategies
D)  seeks out and challenges anti-competitive conduct in the marketplace

Question 20

Which of the following legislations created the Consumer Financial Protection Bureau (CFPB) ?

Accepted Answer

A)  The Restoring American Financial Stability Act
B)  The Consumer Product Safety Commission
C)  The Federal Financial Supervisory Authority
D)  The Product Quality Commission

Exam 4: The Marketing Environment

Which of the following statements is true of today's consumers in the United States?

Correct AnswerverifiedShow Answer

Unlike the youngest Gen Yers, many of the oldest members of Generation Y:

Correct AnswerverifiedShow Answer

Paulina is an eleven-year-old girl. She spends a lot of time on social media and likes mobile games. In this case, Paulina is most likely to be a:

Correct AnswerverifiedShow Answer

Which of the following statements is true of a target market?

Correct AnswerverifiedShow Answer

List and explain the four core values that have strongly influenced American attitudes and lifestyles.

Correct AnswerverifiedAnswers will vary. The four basic values...View AnswerShow Answer

Which of the following statements is true about the trends prevalent among the various ethnicities in ethnic markets?

Correct AnswerverifiedShow Answer

The Federal Trade Commission's Bureau of Competition _____.

Correct AnswerverifiedShow Answer

Which of the following statements is true of tweens?

Correct AnswerverifiedShow Answer

Martha visits a departmental store and discovers that a box of exotic candles will cost her ten percent more than what she had paid six months ago. The increase in prices is the same across the country. In this scenario, which of the following statements is true?

Correct AnswerverifiedShow Answer

Teens command a negligible amount of buying power.

Correct AnswerverifiedShow Answer

The Bureau of Competition provides information and holds conferences and workshops for consumers, businesses, and policy makers on competition issues for market analysis.

Correct AnswerverifiedShow Answer

Which of the following can be considered demographic information of a person?

Correct AnswerverifiedShow Answer

Which of the following legislations created the Consumer Financial Protection Bureau (CFPB) ?

Correct AnswerverifiedShow Answer

Which of the following statements is true about the Great Recession of 2008-2009?

Correct AnswerverifiedShow Answer

Which of the following statements is true of Generation Y?

Correct AnswerverifiedShow Answer

Identify a true statement about the Great Recession.

Correct AnswerverifiedShow Answer

Millennials tend to be influenced more by traditional advertising, sales reps, and word-of-mouth recommendations than through digital media.

Correct AnswerverifiedShow Answer

Middle-class customers are increasingly unwilling to spend their money on household staples with extra features because of lower income.

Correct AnswerverifiedShow Answer

In the context of populations in the United States, Millennials:

Correct AnswerverifiedShow Answer

Unlike people who belong to Generation X, baby boomers:

Correct AnswerverifiedShow Answer

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