Question 1

A firm's corporate culture has a weak influence on what marketing decisions are acceptable.

Accepted Answer

A) True 
 B)False  False

Question 2

Which of these is NOT a marketing objective?

Accepted Answer

A)  To reduce dependence on a key supplier 
B)  To improve a company's overall image 
C)  To increase a firm's average purchase from its customers 
D)  To increase customer inquiries 
A)  To reduce dependence on a key supplier 
B)  To improve a company's overall image 
C)  To increase a firm's average purchase from its customers 
D)  To increase customer inquiries A

Question 3

Which of these is an uncontrollable factor for both an organization and its marketers?

Accepted Answer

A)  The unemployment rate 
B)  The firm's marketing organization 
C)  The role of marketing in the firm 
D)  The firm's corporate culture 
A)  The unemployment rate 
B)  The firm's marketing organization 
C)  The role of marketing in the firm 
D)  The firm's corporate culture A

Question 4

Which of these factors is generally considered NOT to be controllable by marketing personnel?

Accepted Answer

A)  The marketing mix 
B)  Overall objectives 
C)  The selection of a target market 
D)  The marketing organization 
A)  The marketing mix 
B)  Overall objectives 
C)  The selection of a target market 
D)  The marketing organization

Question 5

By clearly defining a company's line of business, a large firm places restrictions on potential acquisitions that the firm may seek.

Accepted Answer

A) True 
 B)False

Question 6

An important characteristic of monopolistic competition is that

Accepted Answer

A)  a kinked demand curve faces all firms. 
B)  few firms exist. 
C)  each firm has total control over price. 
D)  each firm seeks a differential advantage through any marketing factor. 
A)  a kinked demand curve faces all firms. 
B)  few firms exist. 
C)  each firm has total control over price. 
D)  each firm seeks a differential advantage through any marketing factor.

Question 7

Which statement about a differential advantage is correct?

Accepted Answer

A)  It is most difficult to get and keep a differential advantage in a monopoly. 
B)  Only large firms can develop and maintain a differential advantage. 
C)  Individual firms can have no differential advantage in pure competition. 
D)  A firm can develop a differential advantage in pure competition through nonprice marketing factors. 
A)  It is most difficult to get and keep a differential advantage in a monopoly. 
B)  Only large firms can develop and maintain a differential advantage. 
C)  Individual firms can have no differential advantage in pure competition. 
D)  A firm can develop a differential advantage in pure competition through nonprice marketing factors.

Question 8

When a patent for a drug product expires, the competitive structure for the drug changes from monopolistic competition to pure competition.

Accepted Answer

A) True 
 B)False

Question 9

A firm finds that its customers' needs vary significantly by their industry focus. The optimal marketing organization should be

Accepted Answer

A)  functional. 
B)  market-oriented. . 
C)  product-oriented. 
D)  matrix-oriented 
A)  functional. 
B)  market-oriented. . 
C)  product-oriented. 
D)  matrix-oriented

Question 10

What factors are controllable by top management but not by marketers? What is the significance of this for marketers?

Accepted Answer

Some factors that are controllable by to

Question 11

Which is a major uncontrollable factor to both the firm and its marketers?

Accepted Answer

A)  Overall objectives 
B)  Role of other business functions 
C)  Competition 
D)  Line of business 
A)  Overall objectives 
B)  Role of other business functions 
C)  Competition 
D)  Line of business

Question 12

After studying its uncontrollable environment, a firm decides to change its pricing strategy. This decision involves

Accepted Answer

A)  feedback. 
B)  adaptation. 
C)  marketing myopia. 
D)  mass marketing. 
A)  feedback. 
B)  adaptation. 
C)  marketing myopia. 
D)  mass marketing.

Question 13

A firm that defines its competition in generic terms is more likely to practice marketing myopia than a firm that defines its competition narrowly.

Accepted Answer

A) True 
 B)False

Question 14

In which part of the marketing environment does a firm monitor uncontrollable factors and assess its strengths and weaknesses?

Accepted Answer

A)  Adaptation 
B)  Corporate culture 
C)  Feedback 
D)  Target marketing 
A)  Adaptation 
B)  Corporate culture 
C)  Feedback 
D)  Target marketing

Question 15

A marketer focusing on changes in the cost of living over a 10-year period should examine changes in money income.

Accepted Answer

A) True 
 B)False

Question 16

The process of subdividing a market into clear subsets of customers that act in the same way or have comparable needs is referred to as

Accepted Answer

A)  demographic marketing. 
B)  market segmentation. 
C)  lifestyle segmentation. 
D)  target marketing. 
A)  demographic marketing. 
B)  market segmentation. 
C)  lifestyle segmentation. 
D)  target marketing.

Question 17

The use of sales call reports by a sales manager to assess customers' attitudes toward a new product is an example of adaptation.

Accepted Answer

A) True 
 B)False

Question 18

Through deregulation, a firm's competitive structure can be changed from oligopoly to monopolistic competition.

Accepted Answer

A) True 
 B)False

Question 19

A firm practicing marketing myopia defines its line of business too broadly to have a distinct competitive advantage.

Accepted Answer

A) True 
 B)False

Question 20

A firm monitors uncontrollable factors and evaluates its strengths and weaknesses in

Accepted Answer

A)  feedback. 
B)  adaptation. 
C)  control. 
D)  differential advantage analysis. 
A)  feedback. 
B)  adaptation. 
C)  control. 
D)  differential advantage analysis.

Exam 2: The Environment in Which Marketing Operates

A firm's corporate culture has a weak influence on what marketing decisions are acceptable.

Which of these is NOT a marketing objective?

Which of these is an uncontrollable factor for both an organization and its marketers?

Which of these factors is generally considered NOT to be controllable by marketing personnel?

By clearly defining a company's line of business, a large firm places restrictions on potential acquisitions that the firm may seek.

An important characteristic of monopolistic competition is that

Which statement about a differential advantage is correct?

When a patent for a drug product expires, the competitive structure for the drug changes from monopolistic competition to pure competition.

A firm finds that its customers' needs vary significantly by their industry focus. The optimal marketing organization should be

What factors are controllable by top management but not by marketers? What is the significance of this for marketers?

Which is a major uncontrollable factor to both the firm and its marketers?

After studying its uncontrollable environment, a firm decides to change its pricing strategy. This decision involves

A firm that defines its competition in generic terms is more likely to practice marketing myopia than a firm that defines its competition narrowly.

In which part of the marketing environment does a firm monitor uncontrollable factors and assess its strengths and weaknesses?

A marketer focusing on changes in the cost of living over a 10-year period should examine changes in money income.

The process of subdividing a market into clear subsets of customers that act in the same way or have comparable needs is referred to as

The use of sales call reports by a sales manager to assess customers' attitudes toward a new product is an example of adaptation.

Through deregulation, a firm's competitive structure can be changed from oligopoly to monopolistic competition.

A firm practicing marketing myopia defines its line of business too broadly to have a distinct competitive advantage.

A firm monitors uncontrollable factors and evaluates its strengths and weaknesses in

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