Question 1

Which of the following countries has the highest literacy rate?

Accepted Answer

A)  Russia 
B)  Egypt 
C)  Haiti 
D)  Algeria 
E)  Libya 
A)  Russia 
B)  Egypt 
C)  Haiti 
D)  Algeria 
E)  Libya

Question 2

The languages people speak,the type of education they have,and their religious beliefs are examples of the ________ environment.

Accepted Answer

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

Question 3

New York is the state with the largest population,and California is a distant second.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

When setting objectives for the whole firm,TOP MANAGEMENT should:

Accepted Answer

A)  involve the marketing manager in the objective setting 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 of these are useful when setting objectives. 
A)  involve the marketing manager in the objective setting 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 of these are useful when setting objectives.

Question 6

The General Electric "strategic planning grid" forces company managers to make three-part judgments (high,medium,and low)about the business strengths and industry attractiveness of all proposed or existing product-market plans.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following would help prevent marketing mistakes in evaluating international market opportunities?

Accepted Answer

A)  Assume that all cultures around the world are the same. 
B)  Do not "think locally." 
C)  Use machine translators. 
D)  Include local citizens in the evaluation process. 
E)  Save money by cutting research into foreign markets. 
A)  Assume that all cultures around the world are the same. 
B)  Do not "think locally." 
C)  Use machine translators. 
D)  Include local citizens in the evaluation process. 
E)  Save money by cutting research into foreign markets.

Question 8

The U.S.population is over 316 million people and the world population is more than 7 billion people.

Accepted Answer

A) True 
 B)False

Question 9

The Internet is an important aspect of the technological environment,but it isn't very useful for getting information about competitors.

Accepted Answer

A) True 
 B)False

Question 10

The technological environment includes such things as national income,economic growth,and inflation.

Accepted Answer

A) True 
 B)False

Question 11

Gross domestic product (GDP)is the:

Accepted Answer

A)  total market value of goods and services provided in an economy in a year by both residents and nonresidents 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 definitions of GDP is correct. 
A)  total market value of goods and services provided in an economy in a year by both residents and nonresidents 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 definitions of GDP is correct.

Question 12

The situation in which competitors offer very similar marketing mixes,which customers see as close substitutes,and managers just compete with lower and lower prices as profit margins shrink is called ________.

Accepted Answer

A)  capitalistic competition 
B)  pure competition 
C)  monopoly 
D)  monopolistic competition 
E)  collectivist competition 
A)  capitalistic competition 
B)  pure competition 
C)  monopoly 
D)  monopolistic competition 
E)  collectivist competition

Question 13

Marketers no longer encounter differences among European countries.

Accepted Answer

A) True 
 B)False

Question 14

In the United States,the Consumer Product Safety Commission sets and enforces product safety standards.

Accepted Answer

A) True 
 B)False

Question 15

Along with studying trends in the environment,a first step in looking for attractive opportunities is to:

Accepted Answer

A)  understand the resources and objectives of the firm. 
B)  decide which product-markets the firm will enter. 
C)  find new markets for present products. 
D)  estimate product-market potentials. 
E)  hire a marketing strategy planner. 
A)  understand the resources and objectives of the firm. 
B)  decide which product-markets the firm will enter. 
C)  find new markets for present products. 
D)  estimate product-market potentials. 
E)  hire a marketing strategy planner.

Question 16

____ refers to the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country.

Accepted Answer

A)  Gross output 
B)  Gross investment 
C)  Gross national income 
D)  Gross fixed capital formation 
E)  Gross domestic product 
A)  Gross output 
B)  Gross investment 
C)  Gross national income 
D)  Gross fixed capital formation 
E)  Gross domestic product

Question 17

Identify the incorrect statement pertaining to the GNI per capita.

Accepted Answer

A)  The GNI per capita in the United States is the highest in the world. 
B)  The GNI per capita is quite high in the United States, Japan, and Germany. 
C)  The GNI per capita gives some idea of the income level of people in the country. 
D)  Many managers see great potential in countries where GNI per capita is low. 
E)  Managers see less competition where GNI per capita is low. 
A)  The GNI per capita in the United States is the highest in the world. 
B)  The GNI per capita is quite high in the United States, Japan, and Germany. 
C)  The GNI per capita gives some idea of the income level of people in the country. 
D)  Many managers see great potential in countries where GNI per capita is low. 
E)  Managers see less competition where GNI per capita is low.

Question 18

Product-market screening criteria should be mainly quantitative in nature,because qualitative criteria are too subjective.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is true of the economic environment?

Accepted Answer

A)  It has no relationship to the technological environment. 
B)  It is not affected by the way all of the parts of the macro-marketing system interact. 
C)  It refers to micro-economic factors that do not affect business spending. 
D)  It can change very rapidly. 
E)  It never requires marketing managers to make immediate changes in strategy. 
A)  It has no relationship to the technological environment. 
B)  It is not affected by the way all of the parts of the macro-marketing system interact. 
C)  It refers to micro-economic factors that do not affect business spending. 
D)  It can change very rapidly. 
E)  It never requires marketing managers to make immediate changes in strategy.

Question 20

One way marketers can screen for opportunities that are good for society is to screen based on the criteria of:

Accepted Answer

A)  growth. 
B)  profitability. 
C)  sustainability. 
D)  return on investment. 
E)  business strengths. 
A)  growth. 
B)  profitability. 
C)  sustainability. 
D)  return on investment. 
E)  business strengths.

Exam 5: Evaluating Opportunities in the Changing Market Environment

Which of the following countries has the highest literacy rate?

The languages people speak,the type of education they have,and their religious beliefs are examples of the ________ environment.

New York is the state with the largest population,and California is a distant second.

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

When setting objectives for the whole firm,TOP MANAGEMENT should:

The General Electric "strategic planning grid" forces company managers to make three-part judgments (high,medium,and low)about the business strengths and industry attractiveness of all proposed or existing product-market plans.

Which of the following would help prevent marketing mistakes in evaluating international market opportunities?

The U.S.population is over 316 million people and the world population is more than 7 billion people.

The Internet is an important aspect of the technological environment,but it isn't very useful for getting information about competitors.

The technological environment includes such things as national income,economic growth,and inflation.

Gross domestic product (GDP)is the:

The situation in which competitors offer very similar marketing mixes,which customers see as close substitutes,and managers just compete with lower and lower prices as profit margins shrink is called ________.

Marketers no longer encounter differences among European countries.

In the United States,the Consumer Product Safety Commission sets and enforces product safety standards.

Along with studying trends in the environment,a first step in looking for attractive opportunities is to:

____ refers to the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country.

Identify the incorrect statement pertaining to the GNI per capita.

Product-market screening criteria should be mainly quantitative in nature,because qualitative criteria are too subjective.

Which of the following is true of the economic environment?

One way marketers can screen for opportunities that are good for society is to screen based on the criteria of:

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