Question 1

Which of these products is least likely to be concerned with having its name become generic?

Accepted Answer

A)  Kleenex, because it is the most recognized brand 
B)  Jell-O, because there are no other gelatin desserts 
C)  All Sport Disk, because most people call it a Frisbee 
D)  Q-Tips, because this product is not recommended by doctors 
E)  Vaseline, because the product has many cosmetic and personal care uses 
A)  Kleenex, because it is the most recognized brand 
B)  Jell-O, because there are no other gelatin desserts 
C)  All Sport Disk, because most people call it a Frisbee 
D)  Q-Tips, because this product is not recommended by doctors 
E)  Vaseline, because the product has many cosmetic and personal care uses C

Question 2

Increased longevity and increased economic independence may be causes of which trend pertaining to American households?

Accepted Answer

A)  low levels of remarriage among divorcees 
B)  fewer households with unmarried partners 
C)  an increase in the number of children per household 
D)  the growth of gray divorce 
E)  a decrease in blended families 
A)  low levels of remarriage among divorcees 
B)  fewer households with unmarried partners 
C)  an increase in the number of children per household 
D)  the growth of gray divorce 
E)  a decrease in blended families D

Question 3

Business practices or conditions that make it difficult for new firms to enter the market are referred to as

Accepted Answer

A)  market obstructions. 
B)  barriers to entry. 
C)  switching costs. 
D)  import-export firewalls. 
E)  preemptive practices. 
A)  market obstructions. 
B)  barriers to entry. 
C)  switching costs. 
D)  import-export firewalls. 
E)  preemptive practices. B

Question 4

There are only three major recording labels in the world- Sony BMG, Universal Music Group, and Warner Music Group. They are responsible for the vast majority of music recordings that are made. Harry says that these three music companies operate as an oligopoly. Maryanne says that they operate as monopolistic competition. Explain how each came to his or her conclusion. Who is correct?

Accepted Answer

Monopolistic competition occurs when man

Question 5

The generational cohort described as self-reliant, supportive of racial and ethnic diversity, better educated than previous generations, but having less net worth is

Accepted Answer

A)  Generation Z. 
B)  Generation Y. 
C)  millennials. 
D)  Generation X. 
E)  baby boomers. 
A)  Generation Z. 
B)  Generation Y. 
C)  millennials. 
D)  Generation X. 
E)  baby boomers.

Question 6

Which of the following statements regarding environmental scanning is the most accurate?

Accepted Answer

A)  Environmental scanning changes the marketing environment. 
B)  Environmental scanning identifies and interprets potential trends. 
C)  Environmental scanning should be done about every five years. 
D)  Environmental scanning focuses primarily on ecological factors. 
E)  It is too costly and there is too much information generated from environmental scanning to make it viable for small firms. 
A)  Environmental scanning changes the marketing environment. 
B)  Environmental scanning identifies and interprets potential trends. 
C)  Environmental scanning should be done about every five years. 
D)  Environmental scanning focuses primarily on ecological factors. 
E)  It is too costly and there is too much information generated from environmental scanning to make it viable for small firms.

Question 7

In the past several decades, attitudes of both men and women have changed. Increased participation in ________ has eliminated one of the most visible inequalities in opportunities for women.

Accepted Answer

A)  organized sports 
B)  graduate business (MB
A)  programs 
C)  fashion design programs 
D)  financial/investment banking jobs 
E)  medical professions 
A)  organized sports 
B)  graduate business (MB
A)  programs 
C)  fashion design programs 
D)  financial/investment banking jobs 
E)  medical professions

Question 8

In terms of business travel, which generational cohort are airline ads that highlight comfortable seats, USB outlets, and larger entertainment screens most likely trying to reach?

Accepted Answer

A)  Generation X 
B)  baby boomers 
C)  Generation Z 
D)  baby busters 
E)  Generation Y 
A)  Generation X 
B)  baby boomers 
C)  Generation Z 
D)  baby busters 
E)  Generation Y

Question 9

Studies of the ________ characteristics of the U.S. population suggest that it is becoming larger, older, and more diverse.

Accepted Answer

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

Question 10

The Trademark Law Revision Act addresses the right of a company to

Accepted Answer

A)  sell to the highest bidder a trademark that has expired or been retired. 
B)  incorporate an unlimited number of new products under the same trademark. 
C)  secure rights to a name before the product is even in use. 
D)  alter its trademark in terms of color, design, or slogan without having to reapply for a new trademark. 
E)  protects U.S. trademark rights throughout the world. 
A)  sell to the highest bidder a trademark that has expired or been retired. 
B)  incorporate an unlimited number of new products under the same trademark. 
C)  secure rights to a name before the product is even in use. 
D)  alter its trademark in terms of color, design, or slogan without having to reapply for a new trademark. 
E)  protects U.S. trademark rights throughout the world.

Question 11

The Deceptive Mail Prevention and Enforcement Act provides specifications for direct mail sweepstakes, such as requiring which of the following copy to appear in the promotion literature or website?

Accepted Answer

A)  "Everybody Wins." 
B)  "You can't win if you don't play." 
C)  "When you enter, we collect and keep your information." 
D)  "No purchase necessary to win." 
E)  "Your information will remain private." 
A)  "Everybody Wins." 
B)  "You can't win if you don't play." 
C)  "When you enter, we collect and keep your information." 
D)  "No purchase necessary to win." 
E)  "Your information will remain private."

Question 12

The restrictions that state and federal laws place on business with regard to the conduct of its activities are referred to as

Accepted Answer

A)  jurisprudence. 
B)  competitive constraints. 
C)  barriers to entry. 
D)  restraints of trade. 
E)  regulation. 
A)  jurisprudence. 
B)  competitive constraints. 
C)  barriers to entry. 
D)  restraints of trade. 
E)  regulation.

Question 13

Marketspace refers to

Accepted Answer

A)  the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller. 
B)  websites that allow people to congregate online and exchange views on topics of common interest. 
C)  Internet search engines used for the purpose of data mining. 
D)  an information- and communication-based electronic exchange environment occupied by sophisticated computer and telecommunication technologies and digital offerings. 
E)  the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online. 
A)  the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller. 
B)  websites that allow people to congregate online and exchange views on topics of common interest. 
C)  Internet search engines used for the purpose of data mining. 
D)  an information- and communication-based electronic exchange environment occupied by sophisticated computer and telecommunication technologies and digital offerings. 
E)  the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online.

Question 14

A decline in ________ affects discretionary income and often leads consumers to adjust their spending upwards in other categories.

Accepted Answer

A)  entertainment prices 
B)  gasoline prices 
C)  interest rates 
D)  consumer confidence 
E)  property values 
A)  entertainment prices 
B)  gasoline prices 
C)  interest rates 
D)  consumer confidence 
E)  property values

Question 15

Growth of green technologies such as smart grid electricity services, online energy management, and consumer-generated energy are ________ forces that would be identified through an environmental scan.

Accepted Answer

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

Question 16

The U.S. Supreme Court issued a landmark ruling in South Dakota v. Wayfair Inc. allowing states and local governments to force online retailers to collect sales taxes even if they do not have a physical presence in the state. This would affect online sellers such as Virtual Vineyards, which now collects state sales taxes only from customers who reside in California, its home state. This ruling would be an example of which environmental force?

Accepted Answer

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

Question 17

The purpose of ________ is to give the author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work.

Accepted Answer

A)  copyright law 
B)  patent law 
C)  trademark law 
D)  commercial law 
E)  antitrust law 
A)  copyright law 
B)  patent law 
C)  trademark law 
D)  commercial law 
E)  antitrust law

Question 18

Describe four generational cohorts that are of interest to marketers today.

Accepted Answer

Today's marketers are interested in the

Question 19

The form of competition in which there are many sellers and they each have a similar product is referred to as

Accepted Answer

A)  pure competition. 
B)  singular competition. 
C)  an oligopoly. 
D)  monopolistic competition. 
E)  a monopoly. 
A)  pure competition. 
B)  singular competition. 
C)  an oligopoly. 
D)  monopolistic competition. 
E)  a monopoly.

Question 20

Generation X is defined as the generation of children born

Accepted Answer

A)  between 1946 and 1964. 
B)  between WWI and WWII. 
C)  between 1965 and 1980. 
D)  between 1981 and 1996. 
E)  around the millennium. 
A)  between 1946 and 1964. 
B)  between WWI and WWII. 
C)  between 1965 and 1980. 
D)  between 1981 and 1996. 
E)  around the millennium.

Exam 3: Scanning the Marketing Environment

Which of these products is least likely to be concerned with having its name become generic?

Increased longevity and increased economic independence may be causes of which trend pertaining to American households?

Business practices or conditions that make it difficult for new firms to enter the market are referred to as

The generational cohort described as self-reliant, supportive of racial and ethnic diversity, better educated than previous generations, but having less net worth is

Which of the following statements regarding environmental scanning is the most accurate?

In the past several decades, attitudes of both men and women have changed. Increased participation in ________ has eliminated one of the most visible inequalities in opportunities for women.

In terms of business travel, which generational cohort are airline ads that highlight comfortable seats, USB outlets, and larger entertainment screens most likely trying to reach?

Studies of the ________ characteristics of the U.S. population suggest that it is becoming larger, older, and more diverse.

The Trademark Law Revision Act addresses the right of a company to

The Deceptive Mail Prevention and Enforcement Act provides specifications for direct mail sweepstakes, such as requiring which of the following copy to appear in the promotion literature or website?

The restrictions that state and federal laws place on business with regard to the conduct of its activities are referred to as

Marketspace refers to

A decline in ________ affects discretionary income and often leads consumers to adjust their spending upwards in other categories.

Growth of green technologies such as smart grid electricity services, online energy management, and consumer-generated energy are ________ forces that would be identified through an environmental scan.

The purpose of ________ is to give the author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work.

Describe four generational cohorts that are of interest to marketers today.

The form of competition in which there are many sellers and they each have a similar product is referred to as

Generation X is defined as the generation of children born

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: the Strategic Marketing Proces

Building an Effective Marketing Plan

Financial Aspects of Marketing

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