Question 1

As of 2013,which one of the following countries does not have more than 80% of its population using the Internet?

Accepted Answer

A)  Norway 
B)  Germany 
C)  Italy 
D)  Finland 
E)  All of these countries have more than 80% of its population using the Internet 
A)  Norway 
B)  Germany 
C)  Italy 
D)  Finland 
E)  All of these countries have more than 80% of its population using the Internet C

Question 2

Which of the following is true of company objectives?

Accepted Answer

A)  It should be set within the framework of marketing objectives. 
B)  It should be set outside the resource limits for better goals. 
C)  It should always be overly ambitious. 
D)  It should only be revised every five years. 
E)  It should guide managers as they search for and evaluate opportunities. 
A)  It should be set within the framework of marketing objectives. 
B)  It should be set outside the resource limits for better goals. 
C)  It should always be overly ambitious. 
D)  It should only be revised every five years. 
E)  It should guide managers as they search for and evaluate opportunities. E

Question 3

The _____ environment sets the basic rules for how a business can operate in society.

Accepted Answer

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

Question 4

Company objectives should lead to a hierarchy of marketing objectives.

Accepted Answer

A) True 
 B)False

Question 5

A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.

Accepted Answer

A) True 
 B)False

Question 6

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 7

If the risks of getting into international marketing are difficult to evaluate,it may be wise to start with exporting.

Accepted Answer

A) True 
 B)False

Question 8

The rate of growth of the U.S.population is lower than the rate of growth of some other countries' population.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following observations is NOT TRUE of monopolistic competition?

Accepted Answer

A)  A number of different firms offer marketing mixes that at least some customers see as different. 
B)  Marketing managers try to differentiate very similar products by relying on other elements of the marketing mix. 
C)  Each competitor tries to get a monopoly in its own target market. 
D)  Most marketing managers in developed economies do not face monopolistic competition. 
E)  Competition exists because some customers see various alternatives as substitutes. 
A)  A number of different firms offer marketing mixes that at least some customers see as different. 
B)  Marketing managers try to differentiate very similar products by relying on other elements of the marketing mix. 
C)  Each competitor tries to get a monopoly in its own target market. 
D)  Most marketing managers in developed economies do not face monopolistic competition. 
E)  Competition exists because some customers see various alternatives as substitutes.

Question 10

The objectives of a firm should direct the operation of the marketing department,but aren't important to the rest of the business.

Accepted Answer

A) True 
 B)False

Question 11

The Robinson-Patman Act specifically aims at ________.

Accepted Answer

A)  unfair methods of competition 
B)  price discrimination 
C)  deceptive advertising 
D)  product warranties 
E)  attempts to monopolize 
A)  unfair methods of competition 
B)  price discrimination 
C)  deceptive advertising 
D)  product warranties 
E)  attempts to monopolize

Question 12

Before the Pure Food and Drug Act was passed,it was assumed that the common law and the warning "let the buyer beware" would take care of consumers.

Accepted Answer

A) True 
 B)False

Question 13

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "high" in terms of business strengths would be evaluated as:

Accepted Answer

A)  yellow-borderline. 
B)  red-for no growth. 
C)  green-for growth. 
D)  could be yellow, red, or green-because the grid suggests that opportunities with medium ratings need more analysis. 
A)  yellow-borderline. 
B)  red-for no growth. 
C)  green-for growth. 
D)  could be yellow, red, or green-because the grid suggests that opportunities with medium ratings need more analysis.

Question 14

Generation Y refers to those born ________.

Accepted Answer

A)  from 1978-1994 
B)  since 1994 
C)  from 1965-1997 
D)  from 1945-1964 
E)  before 1945 
A)  from 1978-1994 
B)  since 1994 
C)  from 1965-1997 
D)  from 1945-1964 
E)  before 1945

Question 15

The concentration of people in major cities often simplifies Place and Promotion decisions.

Accepted Answer

A) True 
 B)False

Question 16

The ________ prohibits exclusive dealing contracts.

Accepted Answer

A)  Antimerger Act 
B)  Clayton Act 
C)  Magnuson-Moss Act 
D)  Wheeler-Lea Amendment 
E)  Federal Trade Commission Act 
A)  Antimerger Act 
B)  Clayton Act 
C)  Magnuson-Moss Act 
D)  Wheeler-Lea Amendment 
E)  Federal Trade Commission Act

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Few people in Europe diet.So the same soft drink that PepsiCo sells in the U.S.under the brand name of "Diet Pepsi" is sold in England under the brand name of "Pepsi MAX." This is an example of which part of the external market environment?

Accepted Answer

A)  Competitive 
B)  Legal 
C)  Cultural and social 
D)  Political 
E)  Economic 
A)  Competitive 
B)  Legal 
C)  Cultural and social 
D)  Political 
E)  Economic

Question 19

In which of the external environments changes usually occur most slowly?

Accepted Answer

A)  Cultural and social environment 
B)  Political and legal environments 
C)  Resources and objectives of the firm 
D)  Competitive environment 
E)  Economic and technological environments 
A)  Cultural and social environment 
B)  Political and legal environments 
C)  Resources and objectives of the firm 
D)  Competitive environment 
E)  Economic and technological environments

Question 20

Many people think that it is unethical to spy on competitors to obtain their trade secrets,but it is perfectly legal.

Accepted Answer

A) True 
 B)False

Exam 5: Evaluating Opportunities in the Changing Market Environment

As of 2013,which one of the following countries does not have more than 80% of its population using the Internet?

Which of the following is true of company objectives?

The _____ environment sets the basic rules for how a business can operate in society.

Company objectives should lead to a hierarchy of marketing objectives.

A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.

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

If the risks of getting into international marketing are difficult to evaluate,it may be wise to start with exporting.

The rate of growth of the U.S.population is lower than the rate of growth of some other countries' population.

Which of the following observations is NOT TRUE of monopolistic competition?

The objectives of a firm should direct the operation of the marketing department,but aren't important to the rest of the business.

The Robinson-Patman Act specifically aims at ________.

Before the Pure Food and Drug Act was passed,it was assumed that the common law and the warning "let the buyer beware" would take care of consumers.

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "high" in terms of business strengths would be evaluated as:

Generation Y refers to those born ________.

The concentration of people in major cities often simplifies Place and Promotion decisions.

The ________ prohibits exclusive dealing contracts.

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

Few people in Europe diet.So the same soft drink that PepsiCo sells in the U.S.under the brand name of "Diet Pepsi" is sold in England under the brand name of "Pepsi MAX." This is an example of which part of the external market environment?

In which of the external environments changes usually occur most slowly?

Many people think that it is unethical to spy on competitors to obtain their trade secrets,but it is perfectly legal.

Marketings Value to Consumers, Firms, and Society

Implementing and Controlling Marketing Plans: Evolution and Revolution

Marketing Strategy Planning

Managing Marketings Link With Other Functional Areas

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

Promotion-Introduction 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