M3 Homework

Question 1

Income before taxes can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 1

A) Gross income

Question 2

Total amount of money made in one year by a person, household, or family unit can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 2

A) Gross income

Question 3

Income left over after taxes to use for purchasing necessities this can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 3

B) Disposable Income

Question 4

Income used to buy food, housing, basic clothing, and transportation can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 4

B) Disposable income

Question 5

Income used for necessities that can be increased/decreased by the fall/rise of taxes can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 5

B) Disposable income

Question 6

Income after taxes and necessities purchased can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 6

C) Discretionary income

Question 7

Income reduced by savings can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 7

C) Discretionary income

Question 8

Income used for vacations, luxury items, and nonessentials can be described as
A) Gross income
B) Disposable income
C) Discretionary income

Answer 8

C) Discretionary income

Question 9

are an excellent target market for Geek Squad because these consumers, born between 1946 and 1964, did not grow up with the new technology contained in today’s consumer electronics.

A) Generation Y
B) Millennials
C) Generation X
D) Baby Boomers

Answer 9

D) Baby Boomers

Question 10

Today’s Best Buy customer wants to obtain the best quality and features from their electronics purchase at the best price. Best Buy customers can be described as

A) style conscious
B) prestige insensitive
C) Price insensitive
D) Value conscious
E) Price conscious

Answer 10

D) Value conscious

Question 11

Sue is a soccer mom, born in 1971. She spends a great deal of her discretionary income on her children’s electronics. She is part of

A) Generation X
B) Generation Y
C) the Millennials
D) Baby boomers

Answer 11

A) Generation X

Question 12

When Best Buy uses age, income, and size of household to segment its market, it is using _____ segmentation techniques.

A) lifestyle
B) cultural
C) psychographic
D) demographic
E) geographic

Answer 12

D) demographic

Question 13

Research has found that men like to shop for electronics like wireless routers alone, while women like to get assistance on their electronics purchases. These different shopping behaviors show the impact of _____ on buying preferences.

A) culture
B) income
C) ethnicity
D) geographics
E) age

Answer 13

A) culture

Question 14

The Geek Squad customer service model works well in today’s marketplace because _____ has outpaced consumer comprehension in many market segments.

A) competition
B) technology
C) value
D) consumer spending
E) commerce

Answer 14

B) technology

Question 15

Generational cohorts, racial and ethnic diversity, and culture are all considered part of _____ environmental forces.

A) regulatory
B) competitive
C) economic
D) social
E) technological

Answer 15

D) social

Question 16

When Julie, the marketing executive for Hope Springs, determined that market segments existed with sufficient disposable income to pay a premium for bottled water, she determined this by examining _____ forces.

A) economic
B) social
C) technological
D) competitive
E) regulatory

Answer 16

A) economic

Question 17

Marketspace, or the information exchange environment provided by digitized offerings as demonstrated by the ability of consumers to find water bottle filling stations for Hope Springs, is considered a trend within the _____ environment.

A) competitive
B) regulatory
C) social
D) technological
E) economic

Answer 17

D) technological

Question 18

_____ forces refer to the continuum of alternate firms that can provide bottled water to satisfy the needs of the current market.
A) competitive
B) regulatory
C) social
D) technological
E) economic

Answer 18

A) competitive

Question 19

One of the important features of the _____ environment is the existence of protections for consumers that emerged during the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.

A) competitive
B) regulatory
C) social
D) technological
E) economic

Answer 19

B) regulatory

Question 20

question 13 AND 14!

Question 21

A(n) _____ typically addresses contributions to government officials and political parties, customer and supplier relations, conflicts of interest, and accurate record keeping.

A) vision statement
B) marketing communication plan
C) mission statement
D) employee handbook
E) code of ethics

Answer 21

E) code of ethics

Question 22

If Justin has a personal ethical philosophy where everyone has the right to know of probable defects in a product that Big Box Co. sells that relates to safety, then he would have a(n) _____ personal philosophy.

A) discretionary responsibility
B) philosophical responsibility
C) utilitarian
D) economic responsibility
E) moral idealism

Answer 22

E) moral idealism

Question 23

During the interview process with both companies, Justin learns something about a new product that Big Box Co. is producing that will directly compete with Hope Springs. Because Justin learned about the ethics of _____ and what is unethical, he will not share this information during his interview with Hope Springs.

A) consumerism
B) industry
C) exchange
D) competition
E) value

Answer 23

D) competition

Question 24

_____ focuses on Hope Springs’ internally focused obligations to focus on the triple bottom line of people, planet, and profits.

A) Societal responsibility
B) profit responsibility
C) personal responsibility
D) corporate responsibility
E) stakeholder responsibility

Answer 24

A) Societal responsibility

Question 25

In a developing economy, a government official is given a cash bribe to gain favor during the proposal review process for a $500 million infrastructure development project.
Is this an example of
Economic espionage or Corruption?

Answer 25

Corruption

Question 26

A marketing manager at a large electronics firm informs a computer processor manufacturer that if he wants his CPU to be the processor chosen for its new tablet release, the CPU manufacturer needs to secretly pay the marketing manager $5 per tablet sold.
Is this an example of
Economic espionage or Corruption?

Answer 26

Corruption

Question 27

Despite the fact that the chief information officer signed a non competitive clause with her current employer, she leaves her company to work for a direct competitor taking with her a wealth of knowledge and industry information. Is this an example of
Economic espionage or Corruption?

Answer 27

Economic espionage

Question 28

Understanding the value of its competitor’s customer names, account information, and email address, a firm ires a computer hacker working outside of the country to break through the competitor’s firewall and download its customer database. Is this an example of
Economic espionage or Corruption?

Answer 28

Economic Espionage

Question 29

Hoping to find the design sketches for its competitors new consumer electronics product, product managers steal and sort through the trash of its competitors in hopes of finding discarded sketch versions. Is this an example of
Economic espionage or Corruption?

Answer 29

Economic Espionage

Question 30

Government officials offer free trips to their country to travel agents and their families to encourage agents to push their country as a preferred destination. Is this an example of
Economic espionage or Corruption?

Answer 30

Corruption

Question 31

The Toyota Effect describes Toyota’s desire to use its resources and knowledge to benefit society, and people, and the planet. The Toyota Effect demonstrates the company’s dedication to

A) Profit responsibility
B) green responsibility
C) societal responsibility
D) stakeholder responsibility
E) corporate responsibility

Answer 31

C) societal responsibility

Question 32

The Toyota Mirai is a hydrogen fuel cell vehicle which has zero emissions and a 300 mile driving range. Furthermore, the Mirai creates no greenhouse gas emissions in the break down of the vehicle which makes the Mirai an excellent example of
A) cause marketing
B) partner marketing
C) profit marketing
D) planet marketing
E) green marketing

Answer 32

E) green marketing

Question 33

Imagine that Toyota launched a marketing program which included Toyota donating $100 to support the U. S. Paralympic team for every Corolla purchased from a Toyota dealer. This marketing program would be an example of

A) direct response marketing
B) cause marketing
C) green marketing
D) altruistic marketing
E) sustainable marketing

Answer 33

B) cause marketing

Question 34

Toyota’s more than 30 hybrid vehicles, investment in zero-emission vehicles, and work on developing hydrogen fuel cell vehicles not only protects the natural environment but also furthers overall economic progress. Customers generally has positive feelings towards companies that focus on _______ efforts such as Toyota’s.

A) sustainable development
B) triple bottom line
C) stakeholder development
D) social welfare
E) supplier development

Answer 34

A) sustainable development

Question 35

Like most firms, Toyota organizes its markets into very specific segments to better uncover and meet its consumers varied needs in a sustainable way. Toyota’s segments include the standard/midsize car segment, SUV segment, truck segment, and compact car segment. Based on these segment definitions, Toyota focuses on the ________ when creating its segments.

A) Product
B) brand
C) place
D) promotion
E) price

Answer 35

A) Product