Question 1

Company objectives should lead to a hierarchy of marketing objectives.

Accepted Answer

A) True 
 B)False

Question 2

American legislative and economic thinking assumes that

Accepted Answer

A) competition among many small firms helps the economy. 
B) firms must have their prices approved by the Federal Trade Commission. 
C) the free enterprise system is dying. 
D) laws are needed to prevent firms from competing with similar ("me-too")products. 
E) government officials are needed to run the economy. 
A) competition among many small firms helps the economy. 
B) firms must have their prices approved by the Federal Trade Commission. 
C) the free enterprise system is dying. 
D) laws are needed to prevent firms from competing with similar ("me-too")products. 
E) government officials are needed to run the economy.

Question 3

When evaluating the potential of possible opportunities (product-market strategies),a marketing manager should

Accepted Answer

A) evaluate each opportunity over the life of the project,since short-term losses may hide long-term profitability. 
B) avoid using quantitative criteria because they tend to oversimplify the problem. 
C) look at each opportunity on its own,since there is no good way to compare different plans. 
D) look only at internal resources,since they are controllable. 
A) evaluate each opportunity over the life of the project,since short-term losses may hide long-term profitability. 
B) avoid using quantitative criteria because they tend to oversimplify the problem. 
C) look at each opportunity on its own,since there is no good way to compare different plans. 
D) look only at internal resources,since they are controllable.

Question 4

Artificial intelligence and intelligent agents are two separate and distinct technologies.

Accepted Answer

A) True 
 B)False

Question 5

All of the following are part of the direct market environment EXCEPT

Accepted Answer

A) customers. 
B) competitors. 
C) the company itself. 
D) the technological environment. 
A) customers. 
B) competitors. 
C) the company itself. 
D) the technological environment.

Question 6

Which of the following statements is true about political environments?

Accepted Answer

A) Consumers in the same country usually share differing political environments. 
B) The attitudes and reactions of people have no effect on the political environment. 
C) The political environment can affect local opportunities but not international opportunities. 
D) Social critics and governments can affect the political environment. 
E) Nationalistic feelings always increase sales drastically in international markets. 
A) Consumers in the same country usually share differing political environments. 
B) The attitudes and reactions of people have no effect on the political environment. 
C) The political environment can affect local opportunities but not international opportunities. 
D) Social critics and governments can affect the political environment. 
E) Nationalistic feelings always increase sales drastically in international markets.

Question 7

In the short run,a marketing manager usually cannot control

Accepted Answer

A) the competitive environment. 
B) the cultural environment. 
C) the legal environment. 
D) the economic environment. 
E) All these answers are correct. 
A) the competitive environment. 
B) the cultural environment. 
C) the legal environment. 
D) the economic environment. 
E) All these answers are correct.

Question 8

A large producer with economies of scale always has a competitive advantage over smaller firms.

Accepted Answer

A) True 
 B)False

Question 9

Baby Boomers were born

Accepted Answer

A) between 1978 and 1994. 
B) after 1994. 
C) between 1965 and 1997. 
D) between 1946 and 1964. 
E) before 1945. 
A) between 1978 and 1994. 
B) after 1994. 
C) between 1965 and 1997. 
D) between 1946 and 1964. 
E) before 1945.

Question 10

When a local bank in Kansas City makes loans to its small business customers,it charges them an interest rate for borrowing money.Interest rates are part of the ________ environment.

Accepted Answer

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

Question 11

The marketing manager for a financial services firm knows that customer preferences for mutual funds and bond accounts will differ depending on the current interest rate.She must plan her offerings with the ________ environment in mind.

Accepted Answer

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

Question 12

Which of the following statements is true of the early antimonopoly laws passed in the United States?

Accepted Answer

A) They excluded the Federal Trade Commission Act and the Clayton Act. 
B) They began with the Robinson-Patman Act (1840). 
C) They affected the Four Ps and marketing mix planning. 
D) They focused more on protecting consumers than protecting competition. 
E) They were all intended to limit competition. 
A) They excluded the Federal Trade Commission Act and the Clayton Act. 
B) They began with the Robinson-Patman Act (1840). 
C) They affected the Four Ps and marketing mix planning. 
D) They focused more on protecting consumers than protecting competition. 
E) They were all intended to limit competition.

Question 13

The Federal Trade Commission Act of 1914 focuses on

Accepted Answer

A) mergers between competitors. 
B) unreasonable practices related to product warranties. 
C) unfair methods of competition. 
D) tying contracts. 
E) attempts to monopolize. 
A) mergers between competitors. 
B) unreasonable practices related to product warranties. 
C) unfair methods of competition. 
D) tying contracts. 
E) attempts to monopolize.

Question 14

Technology is the application of science to convert an economy's resources to output.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is a quantitative screening criterion for evaluating opportunities?

Accepted Answer

A) weaknesses the firm should avoid 
B) kinds of business the firm wants to exclude 
C) kinds of business the firm wants to be in 
D) resources the firm should build on 
E) return on investment (ROI)target for the firm 
A) weaknesses the firm should avoid 
B) kinds of business the firm wants to exclude 
C) kinds of business the firm wants to be in 
D) resources the firm should build on 
E) return on investment (ROI)target for the firm

Question 16

According to projections,the population of ________ is likely to grow by 9 percent between 2013 and 2025.

Accepted Answer

A) Japan 
B) Russia 
C) Singapore 
D) China 
E) the United States 
A) Japan 
B) Russia 
C) Singapore 
D) China 
E) the United States

Question 17

Most industrial products tend to be near the "insensitive" end of the continuum of environmental sensitivity.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following could serve as a firm's mission statement?

Accepted Answer

A) Green is good. 
B) Promote all brands using viral videos. 
C) We aim to boost annual sales by 15 percent. 
D) Create three new product lines. 
E) We exist to provide customers with the best shopping experience anywhere in cyberspace. 
A) Green is good. 
B) Promote all brands using viral videos. 
C) We aim to boost annual sales by 15 percent. 
D) Create three new product lines. 
E) We exist to provide customers with the best shopping experience anywhere in cyberspace.

Question 19

Setting objectives and strategies for the whole company is a job performed by the company's

Accepted Answer

A) marketing department. 
B) accountants. 
C) top executives. 
D) shareholders. 
E) middle managers. 
A) marketing department. 
B) accountants. 
C) top executives. 
D) shareholders. 
E) middle managers.

Question 20

The Pure Food and Drug Act

Accepted Answer

A) was the first consumer protection law. 
B) was passed by Congress in 1906. 
C) shifted the focus from "let the buyer beware." 
D) bans the shipment of unsanitary products. 
E) All these answers are correct. 
A) was the first consumer protection law. 
B) was passed by Congress in 1906. 
C) shifted the focus from "let the buyer beware." 
D) bans the shipment of unsanitary products. 
E) All these answers are correct.

Company objectives should lead to a hierarchy of marketing objectives.

American legislative and economic thinking assumes that

When evaluating the potential of possible opportunities (product-market strategies),a marketing manager should

Artificial intelligence and intelligent agents are two separate and distinct technologies.

All of the following are part of the direct market environment EXCEPT

Which of the following statements is true about political environments?

In the short run,a marketing manager usually cannot control

A large producer with economies of scale always has a competitive advantage over smaller firms.

Baby Boomers were born

When a local bank in Kansas City makes loans to its small business customers,it charges them an interest rate for borrowing money.Interest rates are part of the ________ environment.

The marketing manager for a financial services firm knows that customer preferences for mutual funds and bond accounts will differ depending on the current interest rate.She must plan her offerings with the ________ environment in mind.

Which of the following statements is true of the early antimonopoly laws passed in the United States?

The Federal Trade Commission Act of 1914 focuses on

Technology is the application of science to convert an economy's resources to output.

Which of the following is a quantitative screening criterion for evaluating opportunities?

According to projections,the population of ________ is likely to grow by 9 percent between 2013 and 2025.

Most industrial products tend to be near the "insensitive" end of the continuum of environmental sensitivity.

Which of the following could serve as a firm's mission statement?

Setting objectives and strategies for the whole company is a job performed by the company's

The Pure Food and Drug Act

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

Company objectives should lead to a hierarchy of marketing objectives.

American legislative and economic thinking assumes that

When evaluating the potential of possible opportunities (product-market strategies),a marketing manager should

Artificial intelligence and intelligent agents are two separate and distinct technologies.

All of the following are part of the direct market environment EXCEPT

Which of the following statements is true about political environments?

In the short run,a marketing manager usually cannot control

A large producer with economies of scale always has a competitive advantage over smaller firms.

Baby Boomers were born

When a local bank in Kansas City makes loans to its small business customers,it charges them an interest rate for borrowing money.Interest rates are part of the ________ environment.

The marketing manager for a financial services firm knows that customer preferences for mutual funds and bond accounts will differ depending on the current interest rate.She must plan her offerings with the ________ environment in mind.

Which of the following statements is true of the early antimonopoly laws passed in the United States?

The Federal Trade Commission Act of 1914 focuses on

Technology is the application of science to convert an economy's resources to output.

Which of the following is a quantitative screening criterion for evaluating opportunities?

According to projections,the population of ________ is likely to grow by 9 percent between 2013 and 2025.

Most industrial products tend to be near the "insensitive" end of the continuum of environmental sensitivity.

Which of the following could serve as a firm's mission statement?

Setting objectives and strategies for the whole company is a job performed by the company's

The Pure Food and Drug Act

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