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Marketing Final Exam

04 4 top aacsb diversity msc blooms application 41 a

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Unformatted text preview: lication 41. A company that specializes in planning and organizing large family reunions has hired you to identify a target ethnic market. Which market would be ideal? a. African American b. Korean Americans c. Chinese immigrants d. Caucasians e. Hispanics ANS: E Hispanics tend to have larger families. PTS: 1 REF: 45 KEY: CB&E Model Customer OBJ: 04-4 TOP: AACSB Diversity MSC: BLOOMS Application 42. Recession, inflation, and consumers’ incomes are the _____ factors of greatest concern to most marketers. a. economic b. socio-demographic c. political d. government e. consumption ANS: A The three economic areas of greatest concern to most marketers are consumers’ incomes, inflation, and recession. PTS: 1 REF: 46 Thinking KEY: CB&E Model Customer 43. After-tax income is referred to as: a. b. OBJ: 04-5 TOP: AACSB Reflective MSC: BLOOMS Knowledge gross income marginal income c. d. e. purchasing income unencumbered income disposable income ANS: E Disposable income is what consumers have left after paying taxes. PTS: 1 REF: 46 Thinking KEY: CB&E Model Customer OBJ: 04-5 TOP: AACSB Reflective MSC: BLOOMS Knowledge 44. China’s new 5 percent tax on disposable wooden chopsticks, reflecting concerns about deforestation, has been praised by environmentalists. The move is hitting hard at the Japanese, who consume 25 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 50 percent. The price increase influences which factor of the external environment of restaurant owners in Japan? a. Economic b. Technological c. Demographic d. Social e. Ethnicity ANS: A Purchasing power may be diminished, especially for restaurants. PTS: 1 REF: 47 Thinking KEY: CB&E Model Customer OBJ: 04-5 TOP: AACSB Reflective MSC: BLOOMS Application 45. When mechanical gas pumps first appeared in the United States in the 1930s, their spinning dials couldn’t register sales beyond $99.99. Today, some stations still use the retro pumps, but the limited dials cannot register the sales of higher-priced gas, which often mount about $100 for SUVs. The pumps can be modernized for about $650, but the company that provides this service has a huge backlog. This is an example of how _____ factors affect small convenience stores and service stations. a. technological and cultural b. competitive and natural c. technological and economic d. cultural and economic e. demographic and marketing mix ANS: C The retrofittings for the pumps are a technological factor, and the increasing price of gas is an economic factor. PTS: 1 REF: 47 | 48 KEY: CB&E Model Strategy OBJ: 04-5 | 04-6 TOP: AACSB Technology MSC: BLOOMS Application 46. _____ is measured by comparing income to the relative cost of a set standard of goods and services in different geographic areas. a. b. c. d. e. Gross individual profit Purchasing power Net profit Relative pricing Price escalation ANS: B This is the...
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