Principles of Marketing Exam #1 - Answer Key

9 p a g e principles of marketing examination 1 60 a

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Principles of Marketing Examination #1 60. A 60. Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched? 1. demographic 2. psychographic 3. economic 4. cultural Of the following fifteen short answer questions, select ten (and only ten) to answer. Each response should be succinct, yet fully address the issues posed. In most cases, 2-3 sentences will suffice. Please make sure that your writing is legible. Each question answered is worth four points. Only the first ten questions attempted will be graded. 61. Why might marketers want to target segments of the population based on lifestyles rather than age groups? a. Answer: Too much might be assumed about people in the same age group, and grouping people by lifestyle may eliminate some of the inaccurate assumptions made regarding age. 62. Give two characteristics of the American family that depict its "nontraditional" nature. a. Answer: More adults of one or both sexes live together without being married; working women are making up a larger portion of the workforce; both husband and wife work in the majority of married-couple families; the percentage of married couples with children is falling; and the percentage of stay-at-home dads is rising. 63. In terms of ethnic and racial makeup, why is the United States today more accurately characterized as a "salad bowl" than a "melting pot"? a. Answer: Individuals hailing from virtually every country in the world live in the United States; people from these diverse groups mix together, but retain many important ethnic and cultural differences. The melting pot metaphor is inaccurate because people from diverse cultures and ethnic groups have not "melted" into one homogeneous culture. 64. Why might it be beneficial for marketers to help develop solutions to problems facing the natural environment, such as increased pollution and shortages of raw material? a. Answer: Marketers who help to develop solutions to these problems can gain the advantage of helping to shape policy that is beneficial to them, as increasingly strict environmental regulations can be expected in the United States and elsewhere. Environmentally responsible actions will help a company's public image; they will also help to create a more sustainable market. 65. What is the difference between a core belief and a secondary belief? a. Answer: A core belief is a stronger, overall belief; an example might be a strong work ethic. A secondary belief is more open to change; an example might be one's idea that a strong work ethic can be maintained even while working only part-time.
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