M3 Homework Flashcards
Income before taxes can be described as
A) Gross income
B) Disposable income
C) Discretionary income
A) Gross income
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
A) Gross income
Income left over after taxes to use for purchasing necessities this can be described as
A) Gross income
B) Disposable income
C) Discretionary income
B) Disposable Income
Income used to buy food, housing, basic clothing, and transportation can be described as
A) Gross income
B) Disposable income
C) Discretionary income
B) Disposable income
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
B) Disposable income
Income after taxes and necessities purchased can be described as
A) Gross income
B) Disposable income
C) Discretionary income
C) Discretionary income
Income reduced by savings can be described as
A) Gross income
B) Disposable income
C) Discretionary income
C) Discretionary income
Income used for vacations, luxury items, and nonessentials can be described as
A) Gross income
B) Disposable income
C) Discretionary income
C) Discretionary income
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
D) Baby Boomers
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
D) Value conscious
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
A) Generation X
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
D) demographic
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
A) culture
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
B) technology
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
D) social
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
A) economic
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
D) technological
_____ 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
A) competitive
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
B) regulatory
question 13 AND 14!
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
E) code of ethics
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
E) moral idealism
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
D) competition
_____ 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
A) Societal responsibility
