Question 1

A firm that discriminates in price on goods of "like grade and quality" may be in violation of the ________.

Accepted Answer

A)  Sherman Act 
B)  Robinson-Patman Act 
C)  Wheeler-Lea Amendment 
D)  Magnuson-Moss Act 
E)  Antimerger Act 
A)  Sherman Act 
B)  Robinson-Patman Act 
C)  Wheeler-Lea Amendment 
D)  Magnuson-Moss Act 
E)  Antimerger Act

Question 2

Marketers should be aware of federal legislation,as well as state and local laws,when planning marketing strategy.

Accepted Answer

A) True 
 B)False

Question 3

According to the "continuum of environmental sensitivity," which of the following types of products are less sensitive to environmental changes?

Accepted Answer

A)  "Faddy" type consumer products 
B)  Industrial products 
C)  Basic commodity-type consumer products 
D)  Consumer products that are linked to cultural variables 
E)  All of these types of products are equally sensitive to environmental changes. 
A)  "Faddy" type consumer products 
B)  Industrial products 
C)  Basic commodity-type consumer products 
D)  Consumer products that are linked to cultural variables 
E)  All of these types of products are equally sensitive to environmental changes.

Question 4

A mission statement substitutes for more specific objectives.

Accepted Answer

A) True 
 B)False

Question 5

The Internet is a powerful way to get information about competitors.

Accepted Answer

A) True 
 B)False

Question 6

The Federal Trade Commission Act of 1914 is primarily concerned with ________.

Accepted Answer

A)  deceptive warranties 
B)  price-fixing agreements 
C)  conspiracies in restraint of trade 
D)  mergers which might substantially lessen competition 
E)  unfair methods of competition 
A)  deceptive warranties 
B)  price-fixing agreements 
C)  conspiracies in restraint of trade 
D)  mergers which might substantially lessen competition 
E)  unfair methods of competition

Question 7

Smaller producers always have a great advantage in competing with larger producers because of their flexibility.

Accepted Answer

A) True 
 B)False

Question 8

Regarding population density in the world,

Accepted Answer

A)  high-population density occurs only in highly developed economies. 
B)  some Western European and Asian urban areas are more crowded than U.S. urban areas. 
C)  the United States is the only country with crowded urban areas. 
D)  there is a worldwide movement back to rural areas. 
E)  None of these is correct regarding population density in the world. 
A)  high-population density occurs only in highly developed economies. 
B)  some Western European and Asian urban areas are more crowded than U.S. urban areas. 
C)  the United States is the only country with crowded urban areas. 
D)  there is a worldwide movement back to rural areas. 
E)  None of these is correct regarding population density in the world.

Question 9

The Clayton Act deals with tying contracts,exclusive dealing contracts,and price discrimination by manufacturers.

Accepted Answer

A) True 
 B)False

Question 10

Overall company objectives should:

Accepted Answer

A)  be specific. 
B)  focus on returning some profit to the business. 
C)  be realistic and achievable. 
D)  be compatible with one another. 
E)  all of these are correct. 
A)  be specific. 
B)  focus on returning some profit to the business. 
C)  be realistic and achievable. 
D)  be compatible with one another. 
E)  all of these are correct.

Question 11

A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef.Clearly,this firm's opportunities may improve with this change in the

Accepted Answer

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

Question 12

The economies of the world are connected and changes in one economy quickly affect others.One key reason for this is that:

Accepted Answer

A)  The amount of international trade is decreasing. 
B)  The amount of international trade is difficult to forecast. 
C)  The amount of international trade is increasing. 
D)  The amount of international trade is unstable. 
E)  The amount of international trade is stable. 
A)  The amount of international trade is decreasing. 
B)  The amount of international trade is difficult to forecast. 
C)  The amount of international trade is increasing. 
D)  The amount of international trade is unstable. 
E)  The amount of international trade is stable.

Question 13

In Argentina,Israel,and Singapore,for example,less than 20 percent of people live in urban areas.

Accepted Answer

A) True 
 B)False

Question 14

If American firm Boeing sets up a factory in China,then the GDP figure for China _____ include those profits and the GNI _____.

Accepted Answer

A)  would; would as well 
B)  would; would not 
C)  would not; also would not 
D)  would not; would 
E)  would; would only measure actual sales 
A)  would; would as well 
B)  would; would not 
C)  would not; also would not 
D)  would not; would 
E)  would; would only measure actual sales

Question 15

Because the Consumer Product Safety Commission has no power to force a product off the market,safety is not a very important consideration in product design.

Accepted Answer

A) True 
 B)False

Question 16

Sustainability,as a screening criteria,supports the idea of focusing completely on a company's present needs.

Accepted Answer

A) True 
 B)False

Question 17

The General Electric "strategic planning grid" relies on subjective judgments about business strengths and industry attractiveness.

Accepted Answer

A) True 
 B)False

Question 18

A company would be charged with product warranty violations under the ________ Act.

Accepted Answer

A)  Total Quality Management 
B)  Robinson-Patman 
C)  Federal Trade Commission 
D)  Magnuson-Moss 
E)  Antimerger 
A)  Total Quality Management 
B)  Robinson-Patman 
C)  Federal Trade Commission 
D)  Magnuson-Moss 
E)  Antimerger

Question 19

The direct market environment

Accepted Answer

A)  includes customers, the company, and competitors. 
B)  consists of variables that can be controlled. 
C)  is broader in scope than the external environment. 
D)  includes economic and technological environments. 
E)  is made up of the political, legal, and social environments. 
A)  includes customers, the company, and competitors. 
B)  consists of variables that can be controlled. 
C)  is broader in scope than the external environment. 
D)  includes economic and technological environments. 
E)  is made up of the political, legal, and social environments.

Question 20

A ________ is an organized table that compares the strengths and weaknesses of a company with those of its competitive rivals.

Accepted Answer

A)  competitive advantage 
B)  competitor matrix 
C)  insight table 
D)  positioning graph 
E)  competitor analysis 
A)  competitive advantage 
B)  competitor matrix 
C)  insight table 
D)  positioning graph 
E)  competitor analysis

Exam 5: Evaluating Opportunities in the Changing Market Environment

A firm that discriminates in price on goods of "like grade and quality" may be in violation of the ________.

Marketers should be aware of federal legislation,as well as state and local laws,when planning marketing strategy.

According to the "continuum of environmental sensitivity," which of the following types of products are less sensitive to environmental changes?

A mission statement substitutes for more specific objectives.

The Internet is a powerful way to get information about competitors.

The Federal Trade Commission Act of 1914 is primarily concerned with ________.

Smaller producers always have a great advantage in competing with larger producers because of their flexibility.

Regarding population density in the world,

The Clayton Act deals with tying contracts,exclusive dealing contracts,and price discrimination by manufacturers.

Overall company objectives should:

A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef.Clearly,this firm's opportunities may improve with this change in the

The economies of the world are connected and changes in one economy quickly affect others.One key reason for this is that:

In Argentina,Israel,and Singapore,for example,less than 20 percent of people live in urban areas.

If American firm Boeing sets up a factory in China,then the GDP figure for China _____ include those profits and the GNI _____.

Because the Consumer Product Safety Commission has no power to force a product off the market,safety is not a very important consideration in product design.

Sustainability,as a screening criteria,supports the idea of focusing completely on a company's present needs.

The General Electric "strategic planning grid" relies on subjective judgments about business strengths and industry attractiveness.

A company would be charged with product warranty violations under the ________ Act.

The direct market environment

A ________ is an organized table that compares the strengths and weaknesses of a company with those of its competitive rivals.

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

If American firm Boeing sets up a factory in China,then the GDP figure for China _ include those profits and the GNI _.