Question 1

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

Accepted Answer

A)  Japan 
B)  Russia 
C)  United States 
D)  China 
E)  Egypt 
A)  Japan 
B)  Russia 
C)  United States 
D)  China 
E)  Egypt

Question 2

Which of the following is not a part of the direct market environment for Starbucks?

Accepted Answer

A)  McDonald's and its coffee. 
B)  Starbucks objective to open 50 new stores in the United States in 2014. 
C)  Rising interest rates worldwide. 
D)  High awareness of Starbucks brand name. 
E)  Growing interest in brewed cacao a prospective competitor for coffee. 
A)  McDonald's and its coffee. 
B)  Starbucks objective to open 50 new stores in the United States in 2014. 
C)  Rising interest rates worldwide. 
D)  High awareness of Starbucks brand name. 
E)  Growing interest in brewed cacao a prospective competitor for coffee.

Question 3

The competitive environment that most marketing managers experience in developed economies is:

Accepted Answer

A)  monopoly. 
B)  monopolistic competition. 
C)  pure competition. 
D)  oligopoly. 
E)  regulated competition. 
A)  monopoly. 
B)  monopolistic competition. 
C)  pure competition. 
D)  oligopoly. 
E)  regulated competition.

Question 4

The firms that are considered to be the organization's closest challengers are called ________ rivals.

Accepted Answer

A)  aggressive 
B)  competitive 
C)  formal 
D) 
Passive 
E)  indirect 
A)  aggressive 
B)  competitive 
C)  formal 
D) 
Passive 
E)  indirect

Question 5

Competitive rivals are always easy to identify.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is true of the Sherman Act?

Accepted Answer

A)  It was intended to protect large producers. 
B)  It was passed to prohibit deceptive pricing. 
C)  It was passed after the Depression of the 1930s. 
D)  It was passed just after the Antimerger Act of 1950. 
E)  It was aimed at efforts to restrain trade or lessen competition. 
A)  It was intended to protect large producers. 
B)  It was passed to prohibit deceptive pricing. 
C)  It was passed after the Depression of the 1930s. 
D)  It was passed just after the Antimerger Act of 1950. 
E)  It was aimed at efforts to restrain trade or lessen competition.

Question 7

Which of the following statements about the competitive environment is FALSE?

Accepted Answer

A)  Competition-free environments are rare. 
B)  Marketing managers should choose strategies that avoid head-on competition. 
C)  A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage. 
D)  Over the long run, most product-markets tend toward monopolistic competition. 
E)  In a competitor analysis, the firm's first step should be to identify all potential competitors. 
A)  Competition-free environments are rare. 
B)  Marketing managers should choose strategies that avoid head-on competition. 
C)  A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage. 
D)  Over the long run, most product-markets tend toward monopolistic competition. 
E)  In a competitor analysis, the firm's first step should be to identify all potential competitors.

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

Which of the following U.S.antimonopoly laws deals with "tying contracts" where the sale of one product is contingent on the business customer purchasing other products from the same supplier?

Accepted Answer

A)  Sherman Act (1890) 
B)  Robinson-Patman Act (1936) 
C)  Antimerger Act (1950) 
D)  Wheeler-Lea Amendment (1938) 
E)  Clayton Act (1914) 
A)  Sherman Act (1890) 
B)  Robinson-Patman Act (1936) 
C)  Antimerger Act (1950) 
D)  Wheeler-Lea Amendment (1938) 
E)  Clayton Act (1914)

Question 10

Good relations with intermediaries,good locations,and good salespeople are some of the many resources of a firm that should be evaluated when searching for new opportunities.

Accepted Answer

A) True 
 B)False

Question 11

Gross domestic product:

Accepted Answer

A)  is the total market value of goods, but not services, produced in a year. 
B)  is an excellent basis for comparing consumer well-being across different cultures and economies. 
C)  is a widely used measure of income for different countries. 
D)  is the total market value of services, but not goods, produced in a year. 
E)  All of these alternatives are true. 
A)  is the total market value of goods, but not services, produced in a year. 
B)  is an excellent basis for comparing consumer well-being across different cultures and economies. 
C)  is a widely used measure of income for different countries. 
D)  is the total market value of services, but not goods, produced in a year. 
E)  All of these alternatives are true.

Question 12

Which of the following laws focuses on price discrimination on goods of "like grade and quality" without a cost justification?

Accepted Answer

A)  The Fair Prices Act 
B)  The Robinson-Patman Act 
C)  The Federal Trade Commission Act 
D)  The Magnuson-Moss Act 
E)  The Antimerger Act 
A)  The Fair Prices Act 
B)  The Robinson-Patman Act 
C)  The Federal Trade Commission Act 
D)  The Magnuson-Moss Act 
E)  The Antimerger Act

Question 13

Screening criteria should be in quantitative form-based on factors such as profit and expected sales-so that they are objective and not subject to qualitative judgments and interpretations by different managers.

Accepted Answer

A) True 
 B)False

Question 14

General Electric's "strategic planning grid":

Accepted Answer

A)  focuses on market share and market growth rate. 
B)  requires subjective judgments about business strengths and industry attractiveness. 
C)  requires that all opportunities be judged either "High" or "Low." 
D)  substitutes quantitative estimates for management judgment. 
E)  All of these alternatives about GE's strategic planning grid are true. 
A)  focuses on market share and market growth rate. 
B)  requires subjective judgments about business strengths and industry attractiveness. 
C)  requires that all opportunities be judged either "High" or "Low." 
D)  substitutes quantitative estimates for management judgment. 
E)  All of these alternatives about GE's strategic planning grid are true.

Question 15

A widely used measure of income in most countries is:

Accepted Answer

A)  gross national income. 
B)  total consumption expenditures. 
C)  disposable personal product. 
D)  population times GNI. 
E)  socio-economic product. 
A)  gross national income. 
B)  total consumption expenditures. 
C)  disposable personal product. 
D)  population times GNI. 
E)  socio-economic product.

Question 16

Which of the following is true of Generation Z?

Accepted Answer

A)  It refers to the generation born immediately following the baby boom. 
B)  People belonging to this generation are also called Millennials. 
C)  This group tends to have optimistic, as opposed to realistic, views of the world. 
D)  This group is a part of a more ethnically diverse United States than their parents. 
E)  This group appears to be less accepting of different cultures, races, and religions. 
A)  It refers to the generation born immediately following the baby boom. 
B)  People belonging to this generation are also called Millennials. 
C)  This group tends to have optimistic, as opposed to realistic, views of the world. 
D)  This group is a part of a more ethnically diverse United States than their parents. 
E)  This group appears to be less accepting of different cultures, races, and religions.

Question 17

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 18

Which of the following types of products is LEAST sensitive to environmental changes,according to the "continuum of environmental sensitivity"?

Accepted Answer

A)  Industrial products. 
B)  Commodity-type consumer products. 
C)  Consumer products linked to cultural variables. 
D)  "Me-too" products. 
E)  Fad products. 
A)  Industrial products. 
B)  Commodity-type consumer products. 
C)  Consumer products linked to cultural variables. 
D)  "Me-too" products. 
E)  Fad products.

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "medium" 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 really doesn't deal with "medium" ratings. 
A)  yellow-borderline. 
B)  red-for no growth. 
C)  green-for growth. 
D)  could be yellow, red, or green-because the grid really doesn't deal with "medium" ratings.

Exam 5: Evaluating Opportunities in the Changing Market Environment

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

Which of the following is not a part of the direct market environment for Starbucks?

The competitive environment that most marketing managers experience in developed economies is:

The firms that are considered to be the organization's closest challengers are called ________ rivals.

Competitive rivals are always easy to identify.

Which of the following is true of the Sherman Act?

Which of the following statements about the competitive environment is FALSE?

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

Which of the following U.S.antimonopoly laws deals with "tying contracts" where the sale of one product is contingent on the business customer purchasing other products from the same supplier?

Good relations with intermediaries,good locations,and good salespeople are some of the many resources of a firm that should be evaluated when searching for new opportunities.

Gross domestic product:

Which of the following laws focuses on price discrimination on goods of "like grade and quality" without a cost justification?

Screening criteria should be in quantitative form-based on factors such as profit and expected sales-so that they are objective and not subject to qualitative judgments and interpretations by different managers.

General Electric's "strategic planning grid":

A widely used measure of income in most countries is:

Which of the following is true of Generation Z?

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

Which of the following types of products is LEAST sensitive to environmental changes,according to the "continuum of environmental sensitivity"?

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

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

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