1. Baby boomers state that 'old age' officiall begins at 65.

2. Often, 20 percent of a firm’s customers produce 80 percent of the firm’s revenue.

3. Generation Y is the most ethnically diverse generation the nation has ever seen.

4. Generation Y is the first generation of latchkey children—products of dual-career and/or divorced households.

5. Basic research attempts to develop new or improved products.

6. The Gramm-Leach-Bliley Act requires Web site operators to post a privacy policy on the home page and a link to the policy on every page where personal information is collected.

7. Marketers need a thorough understanding of the laws established by the federal government, state governments, and regulatory agencies.

8. The Hispanic population is driving minority growth in the United States.

9. On average, African Americans are nearly eight years older than all other American consumers.

10. The Natural Marketing Institute predicts that American consumers will become less environmentally oriented over the next decade as economic concerns become dominant in most people’s lives.

11. The most innovative firms have an average profit margin growth of 3 percent higher than the typical firm.

12. Rising incomes mean a higher standard of living.

13. The average teen earns about $45.00 per week.

14. Companies use environmental management when they implement strategies that attempt to shape the external environment within which they operate.

15. Champion Lyte is a sugar-free sports drink designed to replenish electrolytes lost during activity or illness. Since the product was designed primarily for diabetics, health care professionals who treat diabetics are its primary target market.

16. Champion Lyte is a sugar-free sports drink. In developing the product, its manufacturer thoroughly studied the legal restrictions on the drink's ingredients, packaging, manufacturing, and labeling and has abided by all such restrictions. In this way, the manufacturer of Champion Lyte drinks conducted its examination of all political and legal factors that might affect the product's marketing.

17. The competitive environment of a business encompasses the number of competitors the firm must face, the relative size of these competitors, regulatory agencies, and the degree of interdependence within the industry.

18. The Sherman Act of 1890 establishes protection for trademarks.

19. Demography is the study of people's vital statistics such as their ages and locations.

20. Marketers can control the external environment in which their organizations operate.

21. The clothing style worn by tweens reflects that of their parents.

22. Inflation is a measure of the decrease in the value of money, expressed as the percentage reduction in value since the previous year.

23. Social change is perhaps the most difficult external variable for marketing managers to forecast, influence, or integrate into marketing plans.

24. After Hal Li purchased and installed a woodburning stove to heat his family home, the stove caught fire and damaged much of the house. He believes the stove had inadequate insulation. Li should voice his concerns to the Federal Trade Commission (FTC).

25. Almost half of all U.S. residents is a minority.