Question 1

Facebook has approximately what fraction of the world's population as customers?

Accepted Answer

A) one-half 
B) one-third 
C) one-quarter 
D) one-fifth 
E) one-seventh 
A) one-half 
B) one-third 
C) one-quarter 
D) one-fifth 
E) one-seventh C

Question 2

The portion of one's income that remains after paying for taxes and necessities is referred to as

Accepted Answer

A) net income. 
B) discretionary income. 
C) disposable income. 
D) household income. 
E) gross income. 
A) net income. 
B) discretionary income. 
C) disposable income. 
D) household income. 
E) gross income. B

Question 3

Increases in discretionary income can occur as a result of all of the following except which?

Accepted Answer

A) an increase in gross income 
B) a decrease in taxes 
C) an increase in disposable income 
D) a decrease in housing costs 
E) an increase in interest rates 
A) an increase in gross income 
B) a decrease in taxes 
C) an increase in disposable income 
D) a decrease in housing costs 
E) an increase in interest rates E

Question 4

In many geographic areas,there is only a single provider for gas and electric service for businesses and consumers.However,the government regulates that firm to ensure price protection for the buyer.This is an example of

Accepted Answer

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

Question 5

In 1988,the Trademark Law Revision Act resulted in a major change to the Lanham Act.The change allows

Accepted Answer

A) a company to secure rights to a name before its actual use by declaring an intent to use the name. 
B) products to use generic terms as trademarks. 
C) inventors to apply for use of Internet domain names. 
D) a company to declare trademark ownership in foreign markets. 
E) products to use more than one trademark. 
A) a company to secure rights to a name before its actual use by declaring an intent to use the name. 
B) products to use generic terms as trademarks. 
C) inventors to apply for use of Internet domain names. 
D) a company to declare trademark ownership in foreign markets. 
E) products to use more than one trademark.

Question 6

The purpose of the national Do Not Call Registry is to

Accepted Answer

A) prevent manufacturers from being deluged with customer complaints during business hours. 
B) separate listed from unlisted phone numbers in telephone books and online information directories. 
C) divert enquiries from manufacturers to their suppliers that are ultimately responsible for product distribution. 
D) remove identification codes from mobile phones and tablet devices that would identify them as customers as well as their locations. 
E) protect consumers from unsolicited telemarketing calls. 
A) prevent manufacturers from being deluged with customer complaints during business hours. 
B) separate listed from unlisted phone numbers in telephone books and online information directories. 
C) divert enquiries from manufacturers to their suppliers that are ultimately responsible for product distribution. 
D) remove identification codes from mobile phones and tablet devices that would identify them as customers as well as their locations. 
E) protect consumers from unsolicited telemarketing calls.

Question 7

Electronic commerce refers to

Accepted Answer

A) an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digitized offerings. 
B) any activity that uses electronic communication in the inventory,promotion,distribution,purchase,and exchange of products and services. 
C) 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. 
D) electronic storefronts that focus on converting an online browser into an online,catalog,or in-store buyer. 
E) electronic storefronts that advertise and promote a company's products and services and provide information on how items can be used and where they can be purchased. 
A) an information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digitized offerings. 
B) any activity that uses electronic communication in the inventory,promotion,distribution,purchase,and exchange of products and services. 
C) 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. 
D) electronic storefronts that focus on converting an online browser into an online,catalog,or in-store buyer. 
E) electronic storefronts that advertise and promote a company's products and services and provide information on how items can be used and where they can be purchased.

Question 8

Which of the following can be required by the Federal Trade Commission (FTC)when a company has issued misleading ads?

Accepted Answer

A) corrective advertising 
B) a bankruptcy filing 
C) an advertising injunction 
D) a truth in advertising order 
E) comparative advertising 
A) corrective advertising 
B) a bankruptcy filing 
C) an advertising injunction 
D) a truth in advertising order 
E) comparative advertising

Question 9

One way millennials hope to achieve their goal of making the world a better place is through

Accepted Answer

A) working at "green" jobs. 
B) political activism. 
C) intergenerational dialogue. 
D) fiscal conservatism. 
E) educational reform. 
A) working at "green" jobs. 
B) political activism. 
C) intergenerational dialogue. 
D) fiscal conservatism. 
E) educational reform.

Question 10

The Better Business Bureau (BBB)tries to use ________ to get its members to comply with its standards of business conduct.

Accepted Answer

A) the FTC 
B) industry trade associations 
C) moral suasion 
D) the courts 
E) competitors 
A) the FTC 
B) industry trade associations 
C) moral suasion 
D) the courts 
E) competitors

Question 11

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Accepted Answer

A) Robinson-Patman Act 
B) Clayton Act 
C) Digital Millennium Copyright Act 
D) FTC Act 
E) Consumer Product Safety Act 
A) Robinson-Patman Act 
B) Clayton Act 
C) Digital Millennium Copyright Act 
D) FTC Act 
E) Consumer Product Safety Act

Question 12

The description of a population according to selected characteristics such as age,gender,ethnicity,income,and occupation is referred to as

Accepted Answer

A) consumer group profiling. 
B) demographics. 
C) behavioral analysis. 
D) psychographics. 
E) statistical analysis. 
A) consumer group profiling. 
B) demographics. 
C) behavioral analysis. 
D) psychographics. 
E) statistical analysis.

Question 13

Remote suburbs are called

Accepted Answer

A) exurbs. 
B) ruralia. 
C) outstate residential. 
D) subdivisions. 
E) minor statistical areas. 
A) exurbs. 
B) ruralia. 
C) outstate residential. 
D) subdivisions. 
E) minor statistical areas.

Question 14

If taxes rise at a faster rate than incomes,consumers will

Accepted Answer

A) have less disposable income and try to economize. 
B) feel more confident in the government and therefore spend more money. 
C) use cash for purchases such as a vacation. 
D) recognize that it is the perfect opportunity to buy a car or other expensive products on credit. 
E) react by voting for all incumbent members of Congress. 
A) have less disposable income and try to economize. 
B) feel more confident in the government and therefore spend more money. 
C) use cash for purchases such as a vacation. 
D) recognize that it is the perfect opportunity to buy a car or other expensive products on credit. 
E) react by voting for all incumbent members of Congress.

Question 15

A family formed by merging two previously separated units into a single household is referred to as a

Accepted Answer

A) cohort. 
B) blended family. 
C) merged household. 
D) reconstituted family. 
E) multigenerational household. 
A) cohort. 
B) blended family. 
C) merged household. 
D) reconstituted family. 
E) multigenerational household.

Question 16

Components of a consumer's income consist of

Accepted Answer

A) inflationary,recessionary,and depressive economies. 
B) salaries,taxes,and assets. 
C) gross,disposable,and discretionary components. 
D) sales taxes,income taxes,and property taxes. 
E) assets,liabilities,and equities. 
A) inflationary,recessionary,and depressive economies. 
B) salaries,taxes,and assets. 
C) gross,disposable,and discretionary components. 
D) sales taxes,income taxes,and property taxes. 
E) assets,liabilities,and equities.

Question 17

The 50 million people born between 1965 and 1976,a period also known as the baby bust,are referred to as

Accepted Answer

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

Question 18

The generational cohort known as ________ was born during the baby bust era when the number of children born each year was declining.

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 19

The rights to a John Grisham novel were sold to a British publisher for sales in the United Kingdom and Ireland,a U.S.publisher for the United States and Canada,and an Australian publisher for Australia and New Zealand.This is an example of

Accepted Answer

A) exclusive dealing. 
B) a tying arrangement. 
C) a selective promotion contract. 
D) an exclusive territorial distributorship. 
E) a requirement contract 
A) exclusive dealing. 
B) a tying arrangement. 
C) a selective promotion contract. 
D) an exclusive territorial distributorship. 
E) a requirement contract

Question 20

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."

Exam 3: Scanning the Marketing Environment

Facebook has approximately what fraction of the world's population as customers?

The portion of one's income that remains after paying for taxes and necessities is referred to as

Increases in discretionary income can occur as a result of all of the following except which?

In many geographic areas,there is only a single provider for gas and electric service for businesses and consumers.However,the government regulates that firm to ensure price protection for the buyer.This is an example of

In 1988,the Trademark Law Revision Act resulted in a major change to the Lanham Act.The change allows

The purpose of the national Do Not Call Registry is to

Electronic commerce refers to

Which of the following can be required by the Federal Trade Commission (FTC)when a company has issued misleading ads?

One way millennials hope to achieve their goal of making the world a better place is through

The Better Business Bureau (BBB)tries to use ________ to get its members to comply with its standards of business conduct.

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

The description of a population according to selected characteristics such as age,gender,ethnicity,income,and occupation is referred to as

Remote suburbs are called

If taxes rise at a faster rate than incomes,consumers will

A family formed by merging two previously separated units into a single household is referred to as a

Components of a consumer's income consist of

The 50 million people born between 1965 and 1976,a period also known as the baby bust,are referred to as

The generational cohort known as ________ was born during the baby bust era when the number of children born each year was declining.

The rights to a John Grisham novel were sold to a British publisher for sales in the United Kingdom and Ireland,a U.S.publisher for the United States and Canada,and an Australian publisher for Australia and New Zealand.This is an example of

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?

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 Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

Filters