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Question;1);You are directed to study the actors close to the company that affect its;ability to serve its customers-departments within the company, suppliers;marketing intermediaries, customer markets, competitors, and publics. What are;you studying?;A);the macroenvironment;B);the microenvironment;C);the marketing environment;D);the demographic environment;E);the global environment;2);Which of the following terms is used to describe the factors and forces outside;marketing that affect marketing management's ability to build and maintain;successful relationships with target customers?;A);the marketing environment;B);the cultural environment;C);strategic planning;D);target markets;E);the marketing mix;3);You are directed to study the demographic, economic, natural, technological;political, and cultural factors that are larger societal forces affecting your;company. What are you studying?;A);the macroenvironment;B);the microenvironment;C);the external environment;D);the marketing mix;E);the global environment;4);Which of the following is NOT a type of factor in a company's macroenvironment?;A);demographic;B);economic;C);technological;D);competitive;E);political;5);All of the groups within a company are called the ________.;A);culture;B);diversity;C);internal environment;D);climate;E);range;6);Which type of organization helps companies to stock and move goods from their;points of origin to their destination?;A);financial intermediaries;B);physical distribution firms;C);marketing services agencies;D);resellers;E);suppliers;7);Banks, credit companies, insurance companies, and other businesses that help;finance transactions or insure against the risks associated with the buying and;selling of goods and services are referred to as ________.;A);financial intermediaries;B);physical distribution firms;C);marketing services agencies;D);resellers;E);wholesalers;8);Currently, Diego Calabresa is employed by a firm that conducts marketing;research and creates ads for other companies that help them target and promote;their products to the right markets. Who is Diego's employer?;A);a financial intermediary;B);a physical distribution firm;C);a marketing service agency;D);a reseller;E);a green marketer;9);A ________ is defined as any group that has an actual or potential interest in;or impact on, an organization's ability to achieve its objectives.;A);team;B);competitor;C);market;D);public;E);intermediary;10);Which of the following is NOT an example of the type of public that is part of;a company's marketing environment?;A);financial;B);media;C);government;D);citizen-action;E);marketing department;11);A radio station that carries news, features, and editorial opinions about your;area is which type of public?;A);financial;B);media;C);citizen-action;D);local;E);government;12);A consumer organization, environmental group, or minority group has challenged;your firm's stand on a local issue. Your firm is being challenged by a;public.;A);local;B);general;C);government;D);citizen-action;E);media;13);Workers, managers, and members of the board are all part of a company's;public.;A);general;B);internal;C);local;D);intermediary;E);market;1;14);Percy Original caters to a market of individuals and households that buys goods;and services for personal consumption. Percy Original caters to a;market.;A);business;B);reseller;C);government;D);consumer;E);marketing intermediary;15);Which type of market buys goods and services for further processing or for use;in the production process?;A);business;B);reseller;C);wholesale;D);consumer;E);retail;16);Which type of market buys goods and services to produce public services or to;transfer them to others who need them?;A);government;B);reseller;C);wholesale;D);consumer;E);retail;17);Rachel Patino works for a wholesale company called Distributors Unlimited. She;is responsible for buying and selling goods at a profit to small retailers.;What is her market?;A);business;B);reseller;C);wholesale;D);consumer;E);retail;18);Your marketing department is currently researching the size, density, location;age, and occupations of your target market. Which environment is being;researched?;A);demographic;B);psychographic;C);economic;D);geographic;E);cultural;19);The three largest generational groups in America are the baby boomers;Generation Xers, and ________.;A);seniors;B);Millennials;C);teens;D);tweens;E);toddlers;20);As a group, ________ are the most affluent Americans.;A);baby boomers;B);Generation Xers;C);the Millennials;D);echo boomers;E);seniors;21);Research has shown that the most important demographic trend in the United;States is the ________.;A);changing age structure of the population;B);mobility of families;C);slowing birth rate;D);increasing number of professional jobs;E);aging population;22);The youngest of the baby boomers are now in their ________.;A);late 20s;B);mid-20s;C);mid-40s;D);early 50s;E);early 60s;23);Which of the following descriptions most accurately characterizes the baby;boomers?;A);They are increasingly likely to retire early.;B);They are a shrinking market for new housing and home remodeling.;C);They are past their peak earning and spending years.;D);They hold 75% of the country's assets.;E);They are uninterested in adapting new technologies.;24);Which of the following descriptions most accurately characterizes Gen Xers?;A);There are more Gen Xers than Millennials.;B);They were the first generation of latchkey kids.;C);They grew up during times of great economic growth.;D);They are more interested in acquiring goods than having experiences.;E);They rarely research a product before purchasing it.;25);Which demographic group is also referred to as the echo boomers?;A);Generation X;B);Millennials;C);Generation Z;D);baby boomers;E);baby busters;26);Large tween and teen markets belong to which demographic group?;A);Generation X;B);Millennials;C);baby busters;D);baby boomers;E);Generation Z;27);Which of the following descriptions most accurately characterizes Millennials?;A);They are children of baby boomers.;B);They are less ethnically diverse than Gen Xers.;C);They have reached their peak earning and spending years.;D);They were once labeled "the MTV generation.;E);They have graduated from college and are taking over positions of power in the;business world.;28);Which demographic group is characterized by a total fluency and comfort with;computer, digital, and Internet technology?;A);Generation X;B);Millenials;C);the elderly;D);Generation Z;E);baby boomers;29);Which of the following demographic groups has NOT seen a percentage increase in;the past 50 years?;A);women staying at home with their children;B);men staying at home with their children;C);nontraditional households;D);nonfamily households;E);women working outside of the home;30);Ameriprise Financial has published a Dream Book guide, one of the first;steps in their Dream > Plan > Track approach to financial planning, as;part of their strategy to attract ________ as customers.;A);baby boomers;B);Gen Xers;C);echo boomers;D);Millennials;E);professionals;31);Dreams don't retire" is the theme of a(n) ________ marketing;campaign aimed at baby boomers.;A);financial services;B);anti-aging products;C);travel and entertainment;D);fitness products;E);technological products;32);In 1950, women made up under 40 percent of the workforce, now they make up;percent.;A);35;B);40;C);43;D);46;E);59;33);Which of the following is a trend that depicts the increasingly nontraditional;nature of today's American family?;A);working women making up a smaller percentage of the workforce;B);the falling percentage of married couples with children;C);dual-income families declining in number;D);stay-at-home dads declining in number;E);the declining reliance on convenience foods and services;34);Over the past two decades, the U.S. population has shifted most heavily toward;the ________ states.;A);Midwestern;B);Northern;C);Sunbelt;D);Southeastern;E);Northeastern;35);Which of the following geographical areas has NOT seen a recent population;increase?;A);micropolitan areas;B);suburbs;C);the West;D);the Northeast;E);the South;36);In the 1950s, the American population began shifting from large cities to;A);farming communities;B);rural areas;C);foreign countries;D);suburbs;E);coastal towns;37);Which of the following is the most reasonable to assume as more and more;Americans move to "micropolitan areas"?;A);Geographic segmentation may be less critical to marketers.;B);Rural populations will offer an expanding market.;C);Micropolitan areas are likely to offer the same advantages as metropolitan;areas.;D);Congested areas are likely to become more ensnarled.;E);Crime rates in metropolitan areas will increase.;38);Nearly 10 percent of American workers currently work out of their homes with;technological conveniences such as PCs, Internet access, and fax machines.;These workers are referred to as the ________ market.;A);micropolitan;B);SOHO;C);mobile;D);independent;E);contract;39);Which of the following groups of workers is projected to become smaller over;the next ten years?;A);white collar workers;B);manufacturing workers;C);managers;D);telecommuters;E);professional workers;40);Because of increasing ________, Americans will demand higher quality products;books, magazines, travel, personal computers, and Internet services.;A);numbers of nontraditional families;B);family size;C);levels of education;D);social class awareness;E);ethnic diversity;41);Which of the following is an accurate statement about the diversity of the;American population?;A);African Americans represent the largest non-white segment of the population.;B);More than 12 percent of people living in the United States were born in another;country.;C);The Asian American percentage of the population is expected to remain steady in;the next 50 years.;D);In terms of ethnic diversity, the United States is about average in comparison;to other countries with populations of a comparable size.;E);American ethnic populations are expected to slowly increase in the next few;decades.;42);Of the following, which is the fastest-growing ethnic minority in the United;States?;A);African Americans;B);Asian Americans;C);Hispanics;D);Native Americans;E);Arab Americans;43);With an expected increase in ethnic populations, marketers are likely to place;a greater emphasis on ________.;A);geographic segmentation;B);targeted advertising messages;C);mass marketing;D);mainstream advertising;E);cause-related marketing;44);Members of which of the following groups are more likely than the average;American to have a professional job, have a household income over $250,000, own;a vacation home, own a notebook computer, and own individual stocks?;A);Gen Xers;B);gays and lesbians;C);Millennials;D);echo boomers;E);environmentalists;45);Of the following diversity segments in the American population, which is;currently the largest?;A);adults with disabilities;B);Hispanics;C);African Americans;D);telecommuters;E);Asian Americans;46);The ________ environment consists of factors that affect consumer purchasing;power and spending patterns.;A);cultural;B);political;C);technological;D);economic;E);natural;47);A country with a(n) ________ economy consumes most of its own agricultural and;industrial outputs and offers few market opportunities.;A);industrial;B);service;C);technological;D);subsistence;E);rural;48);A country with a(n) ________ economy has rich markets for many different kinds;of goods.;A);industrial;B);service;C);developing;D);subsistence;E);multicultural;49);Which of the following factors has NOT contributed to today's age of the;tapped-out consumer"?;A);rising incomes in the upper class;B);debt repayment;C);increasing household expenses;D);savings for college tuition;E);savings for retirement;50);Value marketing is the strategy of offering consumers ________.;A);high quality at a high price;B);luxury quality at a high price;C);lesser quality at a low price;D);reasonable quality at a fair price;E);little quality at a low price;51);Which of the following statements about income distribution in the United;States is NOT true?;A);In recent decades, the rich have gotten richer.;B);In recent decades, the middle class has grown.;C);In recent decades, the poor have remained poor.;D);The top 10 percent of American earners account for almost half of all American;income.;E);The top one percent of American earners receive a higher percentage of the;nation's total income than do the bottom 50 percent of American earners.;52);In a tiered market, companies target which of the following?;A);affluent consumers only;B);consumers of modest means only;C);the middle class only;D);consumers at all levels of income distribution;E);professionals only;53);Which of the following groups of expenses uses up the most household income?;A);food, housing, retirement planning;B);housing, insurance, taxes;C);food, housing, transportation;D);housing, taxes, transportation;E);food, travel, savings;54);Ernst Engel's laws generally have been supported by recent studies. He;discovered that as family income rises, the percentage spent on;declines and the percentage spent on ________ remains about constant.;A);food, clothing;B);clothing, recreation/entertainment;C);food, transportation;D);food, housing;E);recreation/entertainment, savings;55);The natural resources that are needed as inputs by marketers or that are affected;by marketing activities are referred to as the ________.;A);raw material market;B);natural environment;C);endangered environment;D);green movement;E);factors of production;56);Which of the following American government agencies is charged with setting and;enforcing pollution standards?;A);the Environmental Protection Agency (EPA);B);the Federal Trade Commission (FTC);C);the Food and Drug Administration (FDA);D);the Consumer Product Safety Commission;E);the Federal Energy Regulatory Commission;57);Which of the following has encouraged marketers to pursue environmentally;sustainable strategies?;A);the EPA;B);the black market;C);the green movement;D);deregulation;E);green intervention;58);Which of the following is a result of regulations set up by the Food and Drug;Administration and the Consumer Product Safety Commission?;A);The time between new product ideas and their introduction to the market has;decreased.;B);Spending on research and development has decreased.;C);Research costs for companies have grown.;D);More companies have failed to meet safety standards.;E);Companies are more focused on making practical, affordable versions of;products.;59);Marketers should be aware of laws, government agencies, and pressure groups;that influence or limit various organizations and individuals in a given;society. This is most accurately described as the ________ environment.;A);socio-legal;B);cultural;C);political;D);legal-technological;E);economic;60);Even the most liberal advocates of free-market economies agree that the system;works best with ________ regulation.;A);private;B);maximum;C);intermittent;D);at least some;E);no;61);Legislation affecting business around the world will continue to ________.;A);become standardized;B);increase;C);remain steady;D);decrease;E);threaten the American domestic economy;62);The legislation created to limit the number of commercials aired during;children's programming is called the;A);Children's Online Privacy Protection Act;B);Child Protection Act;C);Fair Packaging and Labeling Act;D);Children's Television Act;E);Consumer Product Safety Act;63);Business legislation has been created for three basic reasons: to protect;companies from each other, to protect consumers, and to ________.;A);protect the interests of society;B);regulate prices;C);increase world trade;D);regulate monopolies;E);promote social responsibility;64);The recent rash of business scandals and increased concerns about the;environment have created fresh interest in the issues of ________ and ________.;A);ethics, promotion responsibility;B);ethics, social responsibility;C);finances, employee discrimination;D);management ethics, insider trading;E);promotion, pricing;65);Cause-related marketing is a(n) ________.;A);response to customer needs;B);primary form of environmental awareness;C);primary form of corporate giving;D);response to corporate legislative problems;E);attempt to influence consumers' core beliefs;66);A society's basic values, perceptions, preferences, and behaviors are all part;of its ________ environment.;A);social;B);cultural;C);political;D);cultural-economic;E);natural;67);Marketers should understand that a society's core beliefs and values have a;high degree of ________.;A);persistence;B);flexibility;C);similarity;D);ethnocentrism;E);conformity;68);Your company is making negotiations to enter a market in Lower Albania. You;would most likely discover that ________ beliefs and values are open to change;in this country.;A);inherited;B);secondary;C);primary;D);core;E);traditional;69);A society's ________ are expressed in how people view themselves;organizations, society, nature, and the universe.;A);social codes;B);cultural values;C);demographics;D);public policies;E);economies;70);Trends in people's views of organizations indicate that which of the following;has increased in the past twenty years?;A);employees' loyalty to their employers;B);confidence in American political organizations;C);distrust in big American businesses;D);distrust in small, local businesses;E);employees' view of work as a source of satisfaction;71);Watching the cultural trends of how people view society, observers have noted;that since September 11, 2001, marketers responded to the increased ________ of;Americans with special products and promotions.;A);loyalty;B);patriotism;C);distrust;D);foreign intolerance;E);belligerence;72);Which of the following is a potential downside to using patriotic themes in;marketing programs?;A);Patriotism has been on the decline in the past decade.;B);Levels of patriotism fluctuate rapidly.;C);Such promotions can be viewed as attempts to gain from others' triumph or;tragedy.;D);Americans are less confident in political organizations.;E);Few marketers currently use this technique.;73);Cultural forecasters have noted a renewed American interest in ________.;A);dominating and taming nature;B);the fine arts;C);work as a source of satisfaction and self-definition;D);spirituality;E);reforming social classes;74);Marketers can take a(n) ________ by taking aggressive action to affect the;publics and forces in their marketing environments.;A);environmental stance;B);proactive stance;C);natural perspective;D);natural-management perspective;E);relationship-building perspective;75);Which of the following explains why few companies have been successful in;shutting down critics who post complaints on the Web?;A);The criticism is usually interpreted as protected speech.;B);The courts have typically refused to hear any cases against individual critics.;C);Web sites using "I hate" or "sucks" in the title along with;a company's name can be easily confused with the company's actual Web site.;D);Registering domain names to prevent critical Web sites is a lengthy process.;E);Companies have found that it is more effective to respond in kind with attacks;against critics.;76);Today's marketers must successfully build relationships to connect effectively;with customers, others in the company, and external partners.;77);When the marketing manager Suzie Kwan discusses factors and forces outside;marketing, such as political that affect;marketing management's ability to build and maintain successful relationships;with target customers, she is talking about the external marketing concept.;78);The microenvironment consists of larger societal forces that affect a company;such as demographic, economic, political, and cultural forces.;79);The macroenvironment consists of the factors close to the company that affect;its ability to serve its customers, such as suppliers, customer markets;competitors, and publics.;80);Trudie Jones works for a distribution channel firm that helps several;electronics companies find customers or make sales to them. Trudie works for a;reseller.;81);Marketing research firms, advertising agencies, media firms, and marketing;consulting firms are all referred to as marketing services agencies.;82);Today's successful marketers recognize the importance of working with their;intermediaries as channels through which they sell their products rather than;as full-fledged partners.;83);Consumer organizations such as environmental and minority groups that may;questions a company's marketing decisions are referred to as local publics.;84);A company markets wild and crazy games for teens to play at parties. This;company's customer market is a business market.;85);The demographic environment is of major interest to marketers because it;involves people, and people make up markets.;86);The single most important demographic trend in the United States that marketers;should understand is the changing family structure.;87);As baby boomers reach their peak earning and spending years, they become;lucrative markets for financial services, travel, and entertainment.;88);Once thought of as slackers, Gen Xers are now displacing the lifestyles;culture, and materialistic values of the baby boomers.;89);Millennials comprise the most commercially influential group in America today.;90);Millennials represent a larger demographic segment than the baby boomers or Gen;Xers.;91);Marketers must increasingly consider the needs of traditional households;because this segment of the population is growing more rapidly than;nontraditional households.;92);The American workforce today is better educated but less white-collar than it;was a generation ago.;93);Companies in several industries have recognized the buying power of the gay and;lesbian segment of the U.S. population and have begun explicitly targeting;these consumers with gay-specific marketing efforts.;94);According to Engel's laws, consumers tend to spend a larger percentage of;income on savings as income rises.;95);Significant trends in the natural environment include shortages of raw;materials, increased pollution, and decreased government intervention.;96);More government legislation and the green movement are the likeliest causes of;a general decline in environmental concerns in the past decade.;97);The introduction of new technologies is beneficial to all industries, as new;markets and opportunities are created.;98);Cause-related marketing is a slowing trend as companies have abused the;practice, using it more to increase sales than to support worthwhile causes.;99);In the cultural environment, core values and beliefs and secondary values and;beliefs differ in that the former are more open to change.;100);When a company hires lobbyists to influence legislation affecting its industry;it is taking a reactive approach to the marketing environment.;101);Who are the major players in a company's microenvironment? Explain the role;each major actor plays.;102);In a short essay, differentiate between the basic marketing intermediaries.;103);In marketing, what is a public? Briefly describe the seven main types of;publics faced by marketers and explain how marketing might communicate with;these publics.;104);How can marketers use information about the demographic environment?.;105);Explain the impact of the baby boomers, Generation Xers, and Millennials on;today's marketing strategies.;106);What are the major trends in today's natural environment? How do these trends;affect companies?;107);Why is the technological environment such a dramatic force in today's market?;at;they can adjust to new technologies and take advantage of new opportunities.;108);Describe the three main reasons the business legislation is enacted, giving an;example of each type of legislation..;109);What is cause-related marketing? Give two examples of the practice and explain;why companies participate in cause-related marketing.;110);What is the cultural trend in how people view nature? How does this affect;marketers?.;111);Innovations is a producer of electronic circuits that power a variety of;technological devices produced by other companies. Innovations sells its;products to ________ markets.;A);business;B);government;C);consumer;D);internal;E);financial;112);ING, an international insurance and financial services company, is the primary;sponsor of the annual New York City Marathon, which is attended by over one;million fans and watched by approximately 300 million viewers worldwide. The;ING logo and name appear throughout the race course. ING most likely sponsors;the event in order to appeal to which type of public?;A);financial;B);local;C);government;D);general;E);internal;113);If baby boomers are predictors of where product and service demand will be;increased demands will most likely be evident in ________ in the upcoming;years.;A);university enrollment;B);beer and wine;C);financial services;D);the apparel industry;E);the automobile industry;114);Noora DeLange is helping her company develop a marketing program for a new;product line. The program involves emphasizing experience over acquisition and;uses a marketing pitch that is less overt than the company's previous programs.;The marketing program is most likely designed to appeal to which of the;following demographic groups?;A);Gen Xers;B);nontraditional households;C);micropolitan" populations;D);Millennials;E);manufacturing workers;115);Which of the following best explains why Gen Xers as a group may be more economically cautious than baby boomers?;A);Gen Xers grew up during times of corporate downsizing and recession.;B);Gen Xers watched much of their savings evaporate during the recession of the;late 1980s.;C);Gen Xers are not as materialistic as members of other generations.;D);Gen Xers tend to seek more guidance from the financial services industry.;E);Gen Xers are more focused on saving for retirement than baby boomers are.;116);Wholesome Soups, a maker of organic soups, is starting a new marketing campaign;emphasizing the ease of preparing and eating Wholesome Soups on the go. Print;television, and Internet ads feature college-aged students enjoying Wholesome;Soups in between classes and during study breaks. Wholesome Soups' new;marketing campaign is most likely aimed at which of the following?;A);baby boomers;B);seniors;C);Gen Xers;D);Millennials;E);the SOHO market;117);In considering the changing American family, which of the following are;marketers likely to consider the LEAST important?;A);The number of traditional households has increased.;B);Baby boomers are hitting retirement age.;C);The number of married couples with both partners working outside of the home;has increased.;D);Married couples with children make up less than 25% of the nation's households.;E);The number of stay-at-home fathers has increased in the past 20 years.;118);Which of the following demographic trends is likely the most responsible for;the increasing number of people who telecommute?;A);the migration toward micropolitan and suburban areas;B);the move from rural to metropolitan areas;C);the increasing number of nontraditional households;D);the growing percentage of married couples who do not have children;E);the declining number of manufacturing workers;119);With an expected increase in ethnic diversity within the American population;marketers are most likely to place a greater emphasis on which of the;following?;A);geographic segmentation;B);differing advertising messages;C);mass marketing;D);us and them" paradigms;E);tiered markets;120);Jack Weiss recently won a $10 million lottery. Jack's life will change a great;deal, particularly how he spends money. According to Engel's laws, Jack is;LEAST likely to change the percentage of his income that he spends on which of;the following?;A);food;B);entertainment;C);housing;D);utilities;E);savings;121);As a marketer of pesticides, which of the following should give you the LEAST;amount of concern?;A);shortages of raw materials;B);increased pollution;C);increased government intervention;D);persistence of cultural values;E);chemical pollutants in the food supply;122);Chet Hoffman's chain of travel agencies has identified the lesbian, gay;bisexual, and transgender community as a growing market that spends an;increasing percentage of its income on travel. Which of the following would be;the LEAST effective component of a marketing plan for Chet to take advantage of;this opportunity?;A);develop a presence on social networking sites;B);position his agency as focused on specialized experiences;C);implement a mass marketing campaign;D) place specially-targeted ads in gay-themed;publications;E);sponsor social events in metropolitan areas;123);The green movement will likely spark the LEAST interest in which of the;following?;A);recycling programs;B);environmentally sustainable strategies;C);social responsibility;D);Internet usage;E);biodegradability;124);As indicated in the chapter opener, change in the ________ environment has had;the most impact on the marketing strategy at Xerox.;A);technological;B);natural;C);economic;D);cultural;E);political;125);Norma Bernanke is a marketer at a pharmaceutical company that has just;developed a new medication to treat asthma. Which of the following components;of the political environment should Norma be LEAST concerned with as her;company begins to develop a marketing plan for the new product?;A);approval from the Food and Drug Administration (FDA);B);state laws regulating advertising of pharmaceuticals;C);laws enforced by the Federal Trade Commission;D);the Fair Packaging and Labeling Act;E);the Nutrition Labeling and Education Act;126);A regional supermarket chain runs print, radio, and television advertisements;announcing that 1% of each of its sales is donated to local after-school;programs for underprivileged youth. This is an example of ________ marketing.;A);cause-related;B);generational;C);sustainable;D);tiered;E);cultural;127);Which of the following is an example of a core belief?;A);Marriage is important.;B);Americans should display their patriotism.;C);The comforts of home are more important than entertainment outside of the home.;D);Extended warranties are never worth the money consumers pay for them.;E);Professionals should wear business clothes to work.;128);Consumers undertaking which of the following would be LEAST likely to be;identified as "Adventurers" by the Yankelovich Monitor?;A);taking a cruise;B);taking up a new sport;C);having a home entertainment center installed;D);hiking the Grand Canyon;E);traveling to Asia;129);Toyota's Prius was the first mass-produced hybrid vehicle, known for its fuel;efficiency and environmental friendliness. The Prius was initially most likely;marketed to which of the following groups?;A);the SOHO market;B);the LOHAS market;C);the LGBT market;D);the Asian American market;E);the Millennials market;130);Assume that you are a manager at a firm that has hired lobbyists to influence;legislation affecting your firm's industry to its advantage. Your firm takes;a(n) ________ approach to the marketing environment.;A);reactive;B);proactive;C);adversarial;D);passive;E);team work;131);Which of the following forces would marketers be MOST likely able to influence?;A);geographic population shifts;B);core cultural values;C);income distribution;D);increasing ethnic diversity;E);media publics;Refer;to the scenario below to answer the following questions.;Casey Brickly opened The Landing on;the north shore of Witmer Lake in 1962. With a sandwich counter on one side and;a bait shop and grocery on the other, The Landing was an immediate hit with;weekend lake visitors and local residents alike. In the summer, boaters parked;at the piers and bought all their lake needs?rods and reels;bait, fishing licenses, snacks, soft drinks?at The Landing.;Even during the winter months, snowmobilers and ice fishermen were lured to The;Landing for a snack and hot coffee or hot chocolate.;As time passed, the business changed;and grew tremendously. What was formerly a weekend tourist area gradually;became a year-round residential area. Many of the houses, which were built as;cottages in the 1950s and 1960s, were being remodeled into year-round homes. By;the end of the 1970s, the days of small motor boats and 10 mile-per-hour speed;limits were gone, skiing and fast speed boats became all the rage. And The;Landing continued to attract flocks of patrons.;In the 1980s, however, Casey started;to realize that the grocery area in The Landing could not compete with larger;local retailers. He eventually enlarged the sandwich counter, transforming the;bait shop and grocery into a resta

 

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