Question 1

Gross national income (GNI)is the

Accepted Answer

A) total market value of goods and services provided in an economy in a year by residents of that country. 
B) manufacturers' selling price of goods (but not services)produced in a year. 
C) total market value of goods (but not services)produced in an economy in a year. 
D) total market value of goods and services consumed in a year. 
E) None of these answers is correct. 
A) total market value of goods and services provided in an economy in a year by residents of that country. 
B) manufacturers' selling price of goods (but not services)produced in a year. 
C) total market value of goods (but not services)produced in an economy in a year. 
D) total market value of goods and services consumed in a year. 
E) None of these answers is correct.

Question 2

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.

Accepted Answer

A) True 
 B)False

Question 3

The ________ dimension of the GE grid helps managers answer the following question: Does this product-market plan look like a good idea?

Accepted Answer

A) business strengths 
B) quantitative criteria 
C) industry attractiveness 
D) relative positioning 
E) qualitative criteria 
A) business strengths 
B) quantitative criteria 
C) industry attractiveness 
D) relative positioning 
E) qualitative criteria

Question 4

Company objectives

Accepted Answer

A) should be set within the framework of marketing objectives. 
B) are made redundant by mission statements. 
C) should always be overly ambitious. 
D) should only be revised every five years. 
E) should guide managers as they search for and evaluate opportunities. 
A) should be set within the framework of marketing objectives. 
B) are made redundant by mission statements. 
C) should always be overly ambitious. 
D) should only be revised every five years. 
E) should guide managers as they search for and evaluate opportunities.

Question 5

When setting objectives for the whole firm,top management should

Accepted Answer

A) involve the marketing manager in the process. 
B) set objectives that focus on the highest possible immediate profit potential. 
C) stick to general objectives,in order to maintain flexibility. 
D) set objectives beyond what can actually be achieved,so everyone will work harder. 
E) All these approaches are useful when setting objectives. 
A) involve the marketing manager in the process. 
B) set objectives that focus on the highest possible immediate profit potential. 
C) stick to general objectives,in order to maintain flexibility. 
D) set objectives beyond what can actually be achieved,so everyone will work harder. 
E) All these approaches are useful when setting objectives.

Question 6

To what does the term economic environment refer?

Accepted Answer

A) It refers to the unique micro-economic factors of local markets. 
B) It refers to the application of science to convert resources to output. 
C) It refers to the evaluation of the strengths and weaknesses of current competitors' marketing strategies. 
D) It refers to a marketing mix that customers see as better than a competitor's mix. 
E) It refers to the macro-economic factors that affect patterns of consumer and business spending. 
A) It refers to the unique micro-economic factors of local markets. 
B) It refers to the application of science to convert resources to output. 
C) It refers to the evaluation of the strengths and weaknesses of current competitors' marketing strategies. 
D) It refers to a marketing mix that customers see as better than a competitor's mix. 
E) It refers to the macro-economic factors that affect patterns of consumer and business spending.

Question 7

Increased demand for new homes due to low interest rates is an example of the impact of the ________ environment.

Accepted Answer

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

Question 8

The "continuum of environmental sensitivity" suggests that industrial products are more sensitive to the cultural environments in which they are placed than high style consumer products.

Accepted Answer

A) True 
 B)False

Question 9

GDP income measures can give the impression that people in less-developed nations have more income than they really do.

Accepted Answer

A) True 
 B)False

Question 10

The inflation rate experienced by the United States in recent years was just about the highest in the world.

Accepted Answer

A) True 
 B)False

Question 11

Since IKEA is known for fashionable modern-style home furnishings,the company would be likely to screen out business opportunities in

Accepted Answer

A) kitchenwares. 
B) antique furniture reproductions. 
C) bed and bath. 
D) rugs. 
E) interior lighting. 
A) kitchenwares. 
B) antique furniture reproductions. 
C) bed and bath. 
D) rugs. 
E) interior lighting.

Question 12

Which of the following is true of the mission statement of an organization?

Accepted Answer

A) It focuses on embracing all goals of the organization. 
B) It encourages managers to hold conflicting objectives in crisis situations. 
C) It sets out the organization's basic purpose for being. 
D) It serves as a substitute for more specific objectives guiding the screening of possible opportunities. 
E) It does not require any revision,even when the market environment changes. 
A) It focuses on embracing all goals of the organization. 
B) It encourages managers to hold conflicting objectives in crisis situations. 
C) It sets out the organization's basic purpose for being. 
D) It serves as a substitute for more specific objectives guiding the screening of possible opportunities. 
E) It does not require any revision,even when the market environment changes.

Question 13

Placing the interests of individual consumers before the interests of business is nationalism.

Accepted Answer

A) True 
 B)False

Question 14

The current U.S.population is largest in which of the following states?

Accepted Answer

A) California 
B) Florida 
C) Illinois 
D) New York 
E) Texas 
A) California 
B) Florida 
C) Illinois 
D) New York 
E) Texas

Question 15

When considering international markets,income is often one of the most important demographic dimensions.

Accepted Answer

A) True 
 B)False

Question 16

A change in the ________ environment can affect consumer purchases of homes,cars,and other items usually bought on credit.

Accepted Answer

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

Question 17

The direct market environment includes customers,competitors,and the IRS.

Accepted Answer

A) True 
 B)False

Question 18

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Accepted Answer

A) True 
 B)False

Question 19

Over the long run,most product-markets tend toward monopolistic competition.

Accepted Answer

A) True 
 B)False

Question 20

A firm may use all of the following methods for beating the competition EXCEPT

Accepted Answer

A) applying for patents. 
B) seeking a monopoly. 
C) developing a sustainable competitive advantage. 
D) conducting a competitor analysis. 
E) utilizing advanced technology. 
A) applying for patents. 
B) seeking a monopoly. 
C) developing a sustainable competitive advantage. 
D) conducting a competitor analysis. 
E) utilizing advanced technology.

Gross national income (GNI)is the

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.

The ________ dimension of the GE grid helps managers answer the following question: Does this product-market plan look like a good idea?

Company objectives

When setting objectives for the whole firm,top management should

To what does the term economic environment refer?

Increased demand for new homes due to low interest rates is an example of the impact of the ________ environment.

The "continuum of environmental sensitivity" suggests that industrial products are more sensitive to the cultural environments in which they are placed than high style consumer products.

GDP income measures can give the impression that people in less-developed nations have more income than they really do.

The inflation rate experienced by the United States in recent years was just about the highest in the world.

Since IKEA is known for fashionable modern-style home furnishings,the company would be likely to screen out business opportunities in

Which of the following is true of the mission statement of an organization?

Placing the interests of individual consumers before the interests of business is nationalism.

The current U.S.population is largest in which of the following states?

When considering international markets,income is often one of the most important demographic dimensions.

A change in the ________ environment can affect consumer purchases of homes,cars,and other items usually bought on credit.

The direct market environment includes customers,competitors,and the IRS.

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Over the long run,most product-markets tend toward monopolistic competition.

A firm may use all of the following methods for beating the competition EXCEPT

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

Gross national income (GNI)is the

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.

The ________ dimension of the GE grid helps managers answer the following question: Does this product-market plan look like a good idea?

Company objectives

When setting objectives for the whole firm,top management should

To what does the term economic environment refer?

Increased demand for new homes due to low interest rates is an example of the impact of the ________ environment.

The "continuum of environmental sensitivity" suggests that industrial products are more sensitive to the cultural environments in which they are placed than high style consumer products.

GDP income measures can give the impression that people in less-developed nations have more income than they really do.

The inflation rate experienced by the United States in recent years was just about the highest in the world.

Since IKEA is known for fashionable modern-style home furnishings,the company would be likely to screen out business opportunities in

Which of the following is true of the mission statement of an organization?

Placing the interests of individual consumers before the interests of business is nationalism.

The current U.S.population is largest in which of the following states?

When considering international markets,income is often one of the most important demographic dimensions.

A change in the ________ environment can affect consumer purchases of homes,cars,and other items usually bought on credit.

The direct market environment includes customers,competitors,and the IRS.

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Over the long run,most product-markets tend toward monopolistic competition.

A firm may use all of the following methods for beating the competition EXCEPT

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