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SUPPLEMENTAL STUDY GUIDE – EXAM 1 . A(n) _____ is a defined group that managers feel is most likely to buy a firm's product. a. target market b. buying center c. aggregated unit d. consumer cluster e. demographic sample . Which of the following statements best describes the typical target market? a. A target market will remain stable over time, with the same group of consumers. b. Target markets change over time as consumers drop in or out of the market, and as tastes change. c. Target markets are not strongly affected by changes in the external environment. d. Target markets only change when the features and benefits of the product offering change. e. Target markets cannot be specifically defined according to age, income, or location because these factors are continually changing. . Which of the following statements about Generation Y is true? a. Its members are people who were born between and . b. It is one and a half times larger than Gen X. c. The members of Generation Y are pressed for time and spend more on personal services than any other age group. d. Members of Generation Y are the first generation of latchkey kids. e. All of the statements about Generation Y are true. . _____ are strongly attached to technology, tend to be skeptical consumers, and demand the latest fashion trends in record time. a. Generation Xers b. The cohort generation c. The baby boomer generation d. Generation Yers e. The baby bridging generation . Carissa Ty designs and sells clothes for young working women. She has recently been told that unless she starts designing more to suit the style of the Gen Y market, she is likely to be in financial trouble soon. Why would someone tell her that? a. Gen Yers don't have a style that they prefer. b. Gen Yers are more multicultural. c. Baby boomers provide all of the disposable income for Gen Y members. d. Demographically, Gen Yers are an extremely large group of consumers. e. Gen Yers are easily swayed by traditional promotion media. 0.Consumers born between and form a group called: a. tweens b. yuppies c. cohort markets d. America's mass market e. Generation X . China’s new percent tax on disposable wooden chopsticks, reflecting concerns about deforestation, has been praised by environmentalists. The move is hitting hard at the Japanese who consumer billion sets of wooden chopsticks annually. Almost all of the chopsticks used in Japan come from China. The price of wooden chopsticks in Japan has increased by almost 0 percent. The price increase influences which factor of the external environment of restaurant owners in Japan? a. economic b. technological c. demographic
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d. social e. ethnicity . ____ is measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year. a. Inflation b. Recession c. Depression d. Consumer break-even e. Price escalation . Blogs created by consumers can be used to assess customer attitudes toward new products as well as customer perceptions of new products. Marketers’ ability to search for key words used in the blogs is an example of a change in
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