Question 1

A mission statement substitutes for more specific objectives.

Accepted Answer

A) True 
 B)False

Question 2

The Clayton Act specifically aims at

Accepted Answer

A) deceptive ads or selling pricing. 
B) discrimination in the help offered. 
C) exclusive dealing contracts limiting a buyer's sources of supply. 
D) deceptive packaging or branding. 
E) unfair policies and product warranties. 
A) deceptive ads or selling pricing. 
B) discrimination in the help offered. 
C) exclusive dealing contracts limiting a buyer's sources of supply. 
D) deceptive packaging or branding. 
E) unfair policies and product warranties.

Question 3

Which of the following types of products is LEAST sensitive to environmental changes,according to the "continuum of environmental sensitivity"?

Accepted Answer

A) industrial products 
B) commodity-type consumer products 
C) consumer products linked to cultural variables 
D) "me-too" products 
E) fad products 
A) industrial products 
B) commodity-type consumer products 
C) consumer products linked to cultural variables 
D) "me-too" products 
E) fad products

Question 4

GE's planning grid approach

Accepted Answer

A) doesn't work,because given the subjective evaluations involved,different managers usually come to different conclusions. 
B) is really the same thing as the total profit approach. 
C) overemphasizes short-term profitability. 
D) is superficial because it considers only size and expected market share and ignores other possibly important factors. 
E) could be adapted easily by another firm with different objectives. 
A) doesn't work,because given the subjective evaluations involved,different managers usually come to different conclusions. 
B) is really the same thing as the total profit approach. 
C) overemphasizes short-term profitability. 
D) is superficial because it considers only size and expected market share and ignores other possibly important factors. 
E) could be adapted easily by another firm with different objectives.

Question 5

In the political environment,a country's emphasis on its own interests before everything else is called

Accepted Answer

A) elitism. 
B) socialism. 
C) extremism. 
D) regionalism. 
E) nationalism. 
A) elitism. 
B) socialism. 
C) extremism. 
D) regionalism. 
E) nationalism.

Question 6

Gross domestic product is the total dollar value of a country's exports during a one-year period.

Accepted Answer

A) True 
 B)False

Question 7

When looking for attractive opportunities,a marketing manager should consider

Accepted Answer

A) the firm's producing capability and flexibility. 
B) the firm's financial strengths. 
C) whether the firm has good relations with established intermediaries. 
D) the firm's marketing strengths. 
E) All these answers are correct. 
A) the firm's producing capability and flexibility. 
B) the firm's financial strengths. 
C) whether the firm has good relations with established intermediaries. 
D) the firm's marketing strengths. 
E) All these answers are correct.

Question 8

In monopolistic competition,one firm completely controls a broad product-market.

Accepted Answer

A) True 
 B)False

Question 9

Gross national income (GNI)is the total

Accepted Answer

A) cost of producing all goods and services sold in a year. 
B) market value of goods and services provided in an economy in a year by residents of that country. 
C) market value of goods (but not services)consumed in an economy in a year. 
D) market value of goods and services consumed in a year. 
E) market value of goods (but not services)produced in an economy in a year. 
A) cost of producing all goods and services sold in a year. 
B) market value of goods and services provided in an economy in a year by residents of that country. 
C) market value of goods (but not services)consumed in an economy in a year. 
D) market value of goods and services consumed in a year. 
E) market value of goods (but not services)produced in an economy in a year.

Question 10

Managers are now applying a new screening criterion,sustainability,that reinforces the importance of meeting present needs without compromising the ability of future generations to meet their own needs.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is an example of the cultural and social environment?

Accepted Answer

A) growing acceptance of women in business 
B) growing popularity of exercise 
C) increased desire for satisfaction with life 
D) All these answers are correct. 
A) growing acceptance of women in business 
B) growing popularity of exercise 
C) increased desire for satisfaction with life 
D) All these answers are correct.

Question 12

Which of the following is true regarding the competitive environment?

Accepted Answer

A) It is easy to find environments that are "competitor-free." 
B) Monopoly situations are more common than are situations characterized by monopolistic competition. 
C) "Competitive rivals" are a firm's closest competitors. 
D) Competitor analysis should begin with an identification of competitors from the viewpoint of the manager rather than the consumer. 
A) It is easy to find environments that are "competitor-free." 
B) Monopoly situations are more common than are situations characterized by monopolistic competition. 
C) "Competitive rivals" are a firm's closest competitors. 
D) Competitor analysis should begin with an identification of competitors from the viewpoint of the manager rather than the consumer.

Question 13

The elimination of separate barriers to inter-European trade is making Europe a large unified market.

Accepted Answer

A) True 
 B)False

Question 14

Countries where gross national income (GNI)per capita is low do not offer any opportunities for marketers.

Accepted Answer

A) True 
 B)False

Question 15

A mission statement should focus on just the key goals for the organization.

Accepted Answer

A) True 
 B)False

Question 16

Consumer emphasis on fitness has created opportunities for firms like Nike,Nautilus,and Schwinn,and illustrates the impact of the changing

Accepted Answer

A) technological environment. 
B) economic environment. 
C) competitive environment. 
D) cultural and social environment. 
E) political and legal environment. 
A) technological environment. 
B) economic environment. 
C) competitive environment. 
D) cultural and social environment. 
E) political and legal environment.

Question 17

Which of the following is an example of a use of artificial intelligence?

Accepted Answer

A) voice assistance from Apple's Siri or Amazon's Alexa 
B) image recognition on Facebook 
C) shopping recommendations on Amazon 
D) movie suggestions on Netflix 
E) All these answers are correct. 
A) voice assistance from Apple's Siri or Amazon's Alexa 
B) image recognition on Facebook 
C) shopping recommendations on Amazon 
D) movie suggestions on Netflix 
E) All these answers are correct.

Question 18

X-Brand Bikes,a manufacturer of off-road bicycles,carefully developed a strategy for moving into South America.The strategy had poor results after interest rates and inflation rose rapidly in most of its South American markets,demonstrating the influence of the ________ environment on marketing strategy.

Accepted Answer

A) political 
B) technological 
C) social 
D) legal 
E) economic 
A) political 
B) technological 
C) social 
D) legal 
E) economic

Question 19

The Sherman Act was

Accepted Answer

A) intended to protect large producers. 
B) designed to limit competition. 
C) passed during the rash of corporate takeovers of the 1980s. 
D) intended to focus on monopoly or conspiracy to control a product. 
E) passed to prohibit fake advertising allowances. 
A) intended to protect large producers. 
B) designed to limit competition. 
C) passed during the rash of corporate takeovers of the 1980s. 
D) intended to focus on monopoly or conspiracy to control a product. 
E) passed to prohibit fake advertising allowances.

Question 20

Which of the following U.S.antimonopoly laws deals with conspiracy to fix prices?

Accepted Answer

A) Clayton Act (1914) 
B) Magnuson-Moss Act (1975) 
C) FTC Act (1914) 
D) Sherman Act (1890) 
E) Wheeler-Lea Amendment (1938) 
A) Clayton Act (1914) 
B) Magnuson-Moss Act (1975) 
C) FTC Act (1914) 
D) Sherman Act (1890) 
E) Wheeler-Lea Amendment (1938)

A mission statement substitutes for more specific objectives.

The Clayton Act specifically aims at

Which of the following types of products is LEAST sensitive to environmental changes,according to the "continuum of environmental sensitivity"?

GE's planning grid approach

In the political environment,a country's emphasis on its own interests before everything else is called

Gross domestic product is the total dollar value of a country's exports during a one-year period.

When looking for attractive opportunities,a marketing manager should consider

In monopolistic competition,one firm completely controls a broad product-market.

Gross national income (GNI)is the total

Managers are now applying a new screening criterion,sustainability,that reinforces the importance of meeting present needs without compromising the ability of future generations to meet their own needs.

Which of the following is an example of the cultural and social environment?

Which of the following is true regarding the competitive environment?

The elimination of separate barriers to inter-European trade is making Europe a large unified market.

Countries where gross national income (GNI)per capita is low do not offer any opportunities for marketers.

A mission statement should focus on just the key goals for the organization.

Consumer emphasis on fitness has created opportunities for firms like Nike,Nautilus,and Schwinn,and illustrates the impact of the changing

Which of the following is an example of a use of artificial intelligence?

The Sherman Act was

Which of the following U.S.antimonopoly laws deals with conspiracy to fix prices?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters

Exam 3: Evaluating Opportunities in the Changing Market Environment

A mission statement substitutes for more specific objectives.

The Clayton Act specifically aims at

Which of the following types of products is LEAST sensitive to environmental changes,according to the "continuum of environmental sensitivity"?

GE's planning grid approach

In the political environment,a country's emphasis on its own interests before everything else is called

Gross domestic product is the total dollar value of a country's exports during a one-year period.

When looking for attractive opportunities,a marketing manager should consider

In monopolistic competition,one firm completely controls a broad product-market.

Gross national income (GNI)is the total

Managers are now applying a new screening criterion,sustainability,that reinforces the importance of meeting present needs without compromising the ability of future generations to meet their own needs.

Which of the following is an example of the cultural and social environment?

Which of the following is true regarding the competitive environment?

The elimination of separate barriers to inter-European trade is making Europe a large unified market.

Countries where gross national income (GNI)per capita is low do not offer any opportunities for marketers.

A mission statement should focus on just the key goals for the organization.

Consumer emphasis on fitness has created opportunities for firms like Nike,Nautilus,and Schwinn,and illustrates the impact of the changing

Which of the following is an example of a use of artificial intelligence?

The Sherman Act was

Which of the following U.S.antimonopoly laws deals with conspiracy to fix prices?

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters