BUS 360 Test 2 Questions With All Correct &
Verified Answers
consumers Correct answer--center of all marketing efforts
-are influenced by the microenvironment which includes various impacts of culture, demographics &
social, technological, economic & political/legal factors
-value-based marketing aims to provide greater value to consumers than competitors offer
immediate environment affecting consumers Correct answer-company
competition
corporate partners
company capabilities Correct answer-successful marketing firms focus on satisfying customer
needs that match their core competencies
competitors Correct answer-it is critical that marketers understand their firms competitors,
including strengths & weaknesses & likely reactions to the marketing activities that their own firm
undertakes
macroenvironment Correct answer-Aspects of the external environment that affect a company's
business, such as the culture, demographics, social issues, technological advances, economic
situation, and political/regulatory environment. (CDSTEP)
corporate partners Correct answer-Parties that work with the focal firm
culture Correct answer-The set of values, guiding beliefs, understandings, and ways of doing things
shared by members of a society; exists on two levels: visible artifacts (e.g., behavior, dress, symbols,
physical settings, ceremonies) and underlying values (thought processes, beliefs, and assumptions).
country culture Correct answer-Entails easy-to-spot visible nuances that are particular to a country,
such as dress, symbols, ceremonies, language, colors, and food preferences, and more subtle
aspects, which are trickier to identify.
regional culture Correct answer-The influence of the area within a country in which people live.
-ex: soda, pop, Coke
demographics Correct answer-Information about the characteristics of human populations and
segments, especially those used to identify consumer markets such as by age, gender, income, and
education.
-provide an easily understood snapshot of the typical consumer in a specific target market
generational cohort Correct answer-A group of people of the same generation—typically have
similar purchase behaviors because they have shared experiences and are in the same stage of life.
Baby boomers Correct answer-After World War II, the birth rate in the United States rose sharply,
resulting in this generational cohort
1946-1964
-78 million Americans
-individualistic & leisure time is high priority & believe they can always take care of themselves &
obsession with maintaining their youth & always love rock n roll
, Baby boomers & Generation Yers... Correct answer-gravitate towards products & services that
foster a casual lifestyle
Generation Z Correct answer-people in this group were born into a world that already was full of
electronic gadgets and digital technologies, such as the Internet and social networks; Digital Natives
-have a lot in common with Generation X parents
Generation Y Correct answer-Generational cohort of people born between 1977 and 1995; biggest
cohort since the original postwar baby boom; Millenials
-puts a strong emphasis on balancing work & life
-60 million Americans
Tweens Correct answer-younger edge of Gen Y who have never lived without the Internet or easy
access to cell phones, which makes them technologically savvy
-similar across countries
Generation X Correct answer-Generational cohort of people born between 1965 and 1976
-first generation of latchkey children (those who grew up in homes in which both parents worked);
50% have divorced parents
-41 million Americans
-helicopter parents
-buy houses & get married later in life
income demographic Correct answer--increase in wealthy families may be due to the maturing of
the general population, the increase in dual-income households & overall higher level of education
hispanics Correct answer-buying power will be over 1 trillion in 2015
-25% increase from 2010
thrift social trend Correct answer-consumers across the board appear to be attempting to save
more, spend less on luxuries & manage to get by without dipping into their savings (lipstick effect)
health & wellness social trend Correct answer--require marketers to produce food in reasonably
proportioned sizes, advertised food items must provide basic nutrients & have less than 30% total
calories from fat, no added sweeteners
-companies cannot link cartoons or celebrities with unhealthy foods
green marketing Correct answer-Involves a strategic effort by firms to supply customers with
environmentally friendly merchandise.
greenwashing Correct answer-Firms that disingenuously market products as environmentally
friendly with the goal of gaining public approval and sales, rather than actually improving the
environment
technological advances Correct answer-microenvironmental factor; The ability of marketers to use
mobile applications, Facebook, and Twitter to more effectively target and reach their customers
inflation Correct answer-Refers to the persistent increase in the prices of goods and services
-causes power of the dollar to decline
Verified Answers
consumers Correct answer--center of all marketing efforts
-are influenced by the microenvironment which includes various impacts of culture, demographics &
social, technological, economic & political/legal factors
-value-based marketing aims to provide greater value to consumers than competitors offer
immediate environment affecting consumers Correct answer-company
competition
corporate partners
company capabilities Correct answer-successful marketing firms focus on satisfying customer
needs that match their core competencies
competitors Correct answer-it is critical that marketers understand their firms competitors,
including strengths & weaknesses & likely reactions to the marketing activities that their own firm
undertakes
macroenvironment Correct answer-Aspects of the external environment that affect a company's
business, such as the culture, demographics, social issues, technological advances, economic
situation, and political/regulatory environment. (CDSTEP)
corporate partners Correct answer-Parties that work with the focal firm
culture Correct answer-The set of values, guiding beliefs, understandings, and ways of doing things
shared by members of a society; exists on two levels: visible artifacts (e.g., behavior, dress, symbols,
physical settings, ceremonies) and underlying values (thought processes, beliefs, and assumptions).
country culture Correct answer-Entails easy-to-spot visible nuances that are particular to a country,
such as dress, symbols, ceremonies, language, colors, and food preferences, and more subtle
aspects, which are trickier to identify.
regional culture Correct answer-The influence of the area within a country in which people live.
-ex: soda, pop, Coke
demographics Correct answer-Information about the characteristics of human populations and
segments, especially those used to identify consumer markets such as by age, gender, income, and
education.
-provide an easily understood snapshot of the typical consumer in a specific target market
generational cohort Correct answer-A group of people of the same generation—typically have
similar purchase behaviors because they have shared experiences and are in the same stage of life.
Baby boomers Correct answer-After World War II, the birth rate in the United States rose sharply,
resulting in this generational cohort
1946-1964
-78 million Americans
-individualistic & leisure time is high priority & believe they can always take care of themselves &
obsession with maintaining their youth & always love rock n roll
, Baby boomers & Generation Yers... Correct answer-gravitate towards products & services that
foster a casual lifestyle
Generation Z Correct answer-people in this group were born into a world that already was full of
electronic gadgets and digital technologies, such as the Internet and social networks; Digital Natives
-have a lot in common with Generation X parents
Generation Y Correct answer-Generational cohort of people born between 1977 and 1995; biggest
cohort since the original postwar baby boom; Millenials
-puts a strong emphasis on balancing work & life
-60 million Americans
Tweens Correct answer-younger edge of Gen Y who have never lived without the Internet or easy
access to cell phones, which makes them technologically savvy
-similar across countries
Generation X Correct answer-Generational cohort of people born between 1965 and 1976
-first generation of latchkey children (those who grew up in homes in which both parents worked);
50% have divorced parents
-41 million Americans
-helicopter parents
-buy houses & get married later in life
income demographic Correct answer--increase in wealthy families may be due to the maturing of
the general population, the increase in dual-income households & overall higher level of education
hispanics Correct answer-buying power will be over 1 trillion in 2015
-25% increase from 2010
thrift social trend Correct answer-consumers across the board appear to be attempting to save
more, spend less on luxuries & manage to get by without dipping into their savings (lipstick effect)
health & wellness social trend Correct answer--require marketers to produce food in reasonably
proportioned sizes, advertised food items must provide basic nutrients & have less than 30% total
calories from fat, no added sweeteners
-companies cannot link cartoons or celebrities with unhealthy foods
green marketing Correct answer-Involves a strategic effort by firms to supply customers with
environmentally friendly merchandise.
greenwashing Correct answer-Firms that disingenuously market products as environmentally
friendly with the goal of gaining public approval and sales, rather than actually improving the
environment
technological advances Correct answer-microenvironmental factor; The ability of marketers to use
mobile applications, Facebook, and Twitter to more effectively target and reach their customers
inflation Correct answer-Refers to the persistent increase in the prices of goods and services
-causes power of the dollar to decline
