Question 1

Which of the following statements is true of the income of Canadians?

Accepted Answer

A) Family income distribution in Canada is similar across its provinces. 
B) Underclass Canadians are just above poverty. 
C) The majority of the Canadians fall in the middle-class category. 
D) The richest 20 percent of Canadians spend 5 or 6 times more than the poorest 20 percent of Canadians. 
E) Most families experienced real income growth after 1980, and their health care costs, property taxes, and tuition bills have risen at a much slower rate than inflation. 
A) Family income distribution in Canada is similar across its provinces. 
B) Underclass Canadians are just above poverty. 
C) The majority of the Canadians fall in the middle-class category. 
D) The richest 20 percent of Canadians spend 5 or 6 times more than the poorest 20 percent of Canadians. 
E) Most families experienced real income growth after 1980, and their health care costs, property taxes, and tuition bills have risen at a much slower rate than inflation. D

Question 2

Cathy wants to open a grocery store in a community that has a large migrant population.What steps does Cathy need to take to make her store successful among the local Canadians as well as the different ethnic groups who have migrated to Canada?

Accepted Answer

Student answers will vary.The following steps can be taken by Cathy: creating a value-driven store with low prices, including an extended international foods aisle; adapting signs and flyers to feature different languages; advertising in ethnic-targeted media; celebrating important ethnic holidays; and offering ethnic merchandise for sale and merchandising it correctly.

Question 3

An automobile company published an advertisement that said that prices for the latest model on offer started at $10,000 with an interest rate of 10 percent.The ad showed the logo and picture of a new model.When an interested customer spoke with the authorized dealer mentioned in the ad, he was informed that the bargain price was only on the older model.This is an example of:

Accepted Answer

A) price fixing. 
B) price discrimination. 
C) predatory pricing. 
D) misleading advertising. 
E) resale price maintenance. 
A) price fixing. 
B) price discrimination. 
C) predatory pricing. 
D) misleading advertising. 
E) resale price maintenance. D

Question 4

A hotel management institute develops a training program for students.The fee for the training program is $1,000.The institute offers to share the training program with other colleges for a low price.One of the terms of the contract is that the other colleges should not offer the program to their students for less than $1,000.This is an example of:

Accepted Answer

A) price fixing. 
B) price discrimination. 
C) predatory pricing. 
D) referral selling. 
E) resale price maintenance. 
A) price fixing. 
B) price discrimination. 
C) predatory pricing. 
D) referral selling. 
E) resale price maintenance.

Question 5

The relative ease with which consumers can use social media has increased the power of consumers to affect a firm's marketing strategy.

Accepted Answer

A) True 
 B)False

Question 6

A situation in which sellers collude to set prices in response to quotations for products is called:

Accepted Answer

A) bid rigging. 
B) bait-and-switch. 
C) predatory pricing. 
D) referral selling. 
E) pyramid selling. 
A) bid rigging. 
B) bait-and-switch. 
C) predatory pricing. 
D) referral selling. 
E) pyramid selling.

Question 7

Which of the following programs encourages consumers to recycle their food and yard waste to make compost for gardening?

Accepted Answer

A) Bid rigging 
B) Green washing 
C) Carbon footprint 
D) Bait-and-switch 
E) Green bin 
A) Bid rigging 
B) Green washing 
C) Carbon footprint 
D) Bait-and-switch 
E) Green bin

Question 8

Megan is 40 years old and heads an advertising firm.She grew up in a home in which both parents worked.Although Megan possesses considerable spending power, she is much less interested in shopping than her parents and is far more cynical, which tends to make her an astute consumer.Megan takes a long vacation every summer and travels to different parts of the world.She is likely to belong to which cohort?

Accepted Answer

A) Tweens 
B) Generation Y 
C) Generation X 
D) Baby boomers 
E) Seniors 
A) Tweens 
B) Generation Y 
C) Generation X 
D) Baby boomers 
E) Seniors

Question 9

Brian devised a scheme and instructed his partner to submit sham price quotations from dormant companies for a bulletproof-vest contract.The sham price quotations were submitted with intentionally increased prices so that one company, a Kuwaiti general trading firm, would win the contract at a lower price.The owner of the Kuwaiti general trading firm then authorized Brian to negotiate and receive all funds related to the contract.This is an example of:

Accepted Answer

A) bid rigging. 
B) bait-and-switch. 
C) predatory pricing. 
D) referral scheme. 
E) pyramid selling. 
A) bid rigging. 
B) bait-and-switch. 
C) predatory pricing. 
D) referral scheme. 
E) pyramid selling.

Question 10

Today, most Canadians have more time for leisure and to spend with family than they had before.

Accepted Answer

A) True 
 B)False

Question 11

Megan and John have been married for 10 years.Megan is the vice-president of a bank, and John is an investment banker.They enjoy a combined income of more than $100,000.Megan loves art.She buys paintings of renowned painters in auctions all over the world.Which of the following categories do they belong to?

Accepted Answer

A) Underclass consumers 
B) Upper-class consumers 
C) Working-class consumers 
D) Middle-class consumers 
E) Lower-class consumers 
A) Underclass consumers 
B) Upper-class consumers 
C) Working-class consumers 
D) Middle-class consumers 
E) Lower-class consumers

Question 12

A large software company released its web browser for free.As a result, other smaller software companies were forced to reduce their price significantly and went out of business.This is an example of:

Accepted Answer

A) bid rigging. 
B) bait-and-switch. 
C) predatory pricing. 
D) referral selling. 
E) pyramid selling. 
A) bid rigging. 
B) bait-and-switch. 
C) predatory pricing. 
D) referral selling. 
E) pyramid selling.

Question 13

Which of the following statements is true of seniors?

Accepted Answer

A) They belong to the generational cohort of people between the ages of 13 and 32 and the biggest cohort since the original postwar baby boom. 
B) They belong to the generational cohort of people born after World War II who are between the ages of 48 and 56. 
C) They belong to the generational cohort consisting of people aged 65 and older. 
D) They belong to the generational cohort of people who are not quite teenagers but are not young children either. 
E) They belong to the generational cohort of people between the ages of 36 and 47. 
A) They belong to the generational cohort of people between the ages of 13 and 32 and the biggest cohort since the original postwar baby boom. 
B) They belong to the generational cohort of people born after World War II who are between the ages of 48 and 56. 
C) They belong to the generational cohort consisting of people aged 65 and older. 
D) They belong to the generational cohort of people who are not quite teenagers but are not young children either. 
E) They belong to the generational cohort of people between the ages of 36 and 47.

Question 14

Price discrimination refers to sellers conspiring to set the price of a product, usually higher than it would be in a free market.

Accepted Answer

A) True 
 B)False

Question 15

Amir owns a fine Steak House Restaurant in north of Toronto with the average meal of $65 per person.What would be the two most influential macroenvironmental factors that Amir has to monitor for his business?

Accepted Answer

A) Corporate partners and political environment 
B) Economic situation and competition 
C) Culture and Legal environment 
D) Economic situation and social trends 
E) Customers and corporate partners 
A) Corporate partners and political environment 
B) Economic situation and competition 
C) Culture and Legal environment 
D) Economic situation and social trends 
E) Customers and corporate partners

Question 16

Which of the following is used by retail firms to track an item from the moment it is manufactured, through the distribution system, to the retail store, and into the hands of the final consumer?

Accepted Answer

A) RuBee 
B) Radio frequency identification device 
C) Biometrics 
D) Resonant inductive coupling 
E) Supranet 
A) RuBee 
B) Radio frequency identification device 
C) Biometrics 
D) Resonant inductive coupling 
E) Supranet

Question 17

The latest trend of promoting low-calorie, high-nutrition organic products is a(n):

Accepted Answer

A) social trend. 
B) legal trend. 
C) political trend. 
D) cultural trend. 
E) economic trend. 
A) social trend. 
B) legal trend. 
C) political trend. 
D) cultural trend. 
E) economic trend.

Question 18

In a recession, spending by both businesses and consumers is greatly increased.

Accepted Answer

A) True 
 B)False

Question 19

A company manufacturing mouthwash declared that the mouthwash could cure common ailments such as colds, sore throats, and coughs. It also promised that it was a hair revitalizer and an antiseptic cream for cuts, bruises, wounds, and stings. Tests by independent agencies found that the product was as effective as warm water in treating colds.
-The marketing practice being followed by the company is called:

Accepted Answer

A) bait-and-switch. 
B) exclusive dealing. 
C) pyramid selling. 
D) referral selling. 
E) misleading advertising. 
A) bait-and-switch. 
B) exclusive dealing. 
C) pyramid selling. 
D) referral selling. 
E) misleading advertising.

Question 20

Which of the following illegal marketing practices are the retailers primarily involved in?

Accepted Answer

A) Price fixing 
B) Price discrimination 
C) Predatory pricing 
D) Referral selling 
E) Resale price maintenance 
A) Price fixing 
B) Price discrimination 
C) Predatory pricing 
D) Referral selling 
E) Resale price maintenance

Which of the following statements is true of the income of Canadians?

Cathy wants to open a grocery store in a community that has a large migrant population.What steps does Cathy need to take to make her store successful among the local Canadians as well as the different ethnic groups who have migrated to Canada?

The relative ease with which consumers can use social media has increased the power of consumers to affect a firm's marketing strategy.

A situation in which sellers collude to set prices in response to quotations for products is called:

Which of the following programs encourages consumers to recycle their food and yard waste to make compost for gardening?

Today, most Canadians have more time for leisure and to spend with family than they had before.

A large software company released its web browser for free.As a result, other smaller software companies were forced to reduce their price significantly and went out of business.This is an example of:

Which of the following statements is true of seniors?

Price discrimination refers to sellers conspiring to set the price of a product, usually higher than it would be in a free market.

Amir owns a fine Steak House Restaurant in north of Toronto with the average meal of $65 per person.What would be the two most influential macroenvironmental factors that Amir has to monitor for his business?

Which of the following is used by retail firms to track an item from the moment it is manufactured, through the distribution system, to the retail store, and into the hands of the final consumer?

The latest trend of promoting low-calorie, high-nutrition organic products is a(n):

In a recession, spending by both businesses and consumers is greatly increased.

Which of the following illegal marketing practices are the retailers primarily involved in?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Consumer Behaviour

Business-To-Business Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters

Exam 3: Analyzing the Marketing Environment

Which of the following statements is true of the income of Canadians?

Cathy wants to open a grocery store in a community that has a large migrant population.What steps does Cathy need to take to make her store successful among the local Canadians as well as the different ethnic groups who have migrated to Canada?

The relative ease with which consumers can use social media has increased the power of consumers to affect a firm's marketing strategy.

A situation in which sellers collude to set prices in response to quotations for products is called:

Which of the following programs encourages consumers to recycle their food and yard waste to make compost for gardening?

Today, most Canadians have more time for leisure and to spend with family than they had before.

A large software company released its web browser for free.As a result, other smaller software companies were forced to reduce their price significantly and went out of business.This is an example of:

Which of the following statements is true of seniors?

Price discrimination refers to sellers conspiring to set the price of a product, usually higher than it would be in a free market.

Amir owns a fine Steak House Restaurant in north of Toronto with the average meal of $65 per person.What would be the two most influential macroenvironmental factors that Amir has to monitor for his business?

Which of the following is used by retail firms to track an item from the moment it is manufactured, through the distribution system, to the retail store, and into the hands of the final consumer?

The latest trend of promoting low-calorie, high-nutrition organic products is a(n):

In a recession, spending by both businesses and consumers is greatly increased.

Which of the following illegal marketing practices are the retailers primarily involved in?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Consumer Behaviour

Business-To-Business Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters