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Unformatted text preview: gement and give an example how a motorcycle helmet manufacturer might
When a company implements strategies that attempt to shape the external environment within
which it operates, it is engaging in environmental management. For example, extensive political
lobbying may influence laws requiring helmet use or international competition. Working together
in trade associations would allow the company to influence the competitive environment.
Educating riders on the benefits of wearing helmets might modify its social environment.
Students’ answers will vary.
KEY: CB&E Model Strategy OBJ: 04-1 TOP: AACSB MSC: BLOOMS Synthesis 4. List and describe the four basic values that have strongly influenced American attitudes and
SELF-SUFFICIENCY. Every person should stand on his or her own two feet.
UPWARD MOBILITY. Success would come to anyone who got an education, worked hard, and
played by the rules.
WORK ETHIC. Hard work, dedication to family, and frugality were moral and right.
CONFORMITY. No one should expect to be treated differently from everybody else.
KEY: CB&E Model Strategy OBJ: 04-3 TOP: AACSB MSC: BLOOMS Synthesis 5. What is a component lifestyle? Describe how a college student follows a component lifestyle.
Use specific examples.
Component lifestyles mean that U.S. citizens are choosing products and services that meet
diverse needs and interests rather than conforming to traditional stereotypes. Component
lifestyles increase the complexity of consumers’ buying habits. Although the stereotypical student
adopts a “student lifestyle” and makes purchases related to this lifestyle (textbooks, school
supplies, pizzas, and so on), each student may also purchase according to alternative lifestyles.
These may include hobbies, outside jobs, a family situation, or other interests. The student may
also be a gourmet cook, fitness enthusiast, skier, or computer buff.
Communication REF: 41 OBJ: 04-2 TOP: AACSB KEY: CB&E Model Customer MSC: BLOOMS Synthesis 6. Compare and contrast Generation Y and Generation X. Which generation is of more interest to
Generation Y was born between 1979 and 1994 and is the largest group. Most Gen Yers are the
children of baby boomers and are described as inquisitive, opinionated, diverse, time managers,
quick shoppers, wanting fulfillment, multitaskers, and environmentally aware. They care about
the environment and will often seek out “green” products. Generation X includes people born
between 1965 and 1978 and consists of 40 million consumers. It was the first generation of
latchkey children. They have been bombarded by multiple media since they were babies, so they
are savvy and cynical consumers. They are older than Gen Yers and are reaching the age where
they are sending their kids off to college. Gen Xers have been largely ignored due to the larger
baby boomers and Gen Yers getting mar...
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- Fall '13