Question 1

Seniors and baby boomers are among the fastest-growing demographic groups on Facebook.Marketers need to study such trends because:

Accepted Answer

A)  people in this demographic are known for being techno-savvy. 
B)  baby boomers typically have little money to spend. 
C)  very large numbers of people make up this demographic. 
D)  online ads are most effective when seen by people of all ages. 
E)  seniors have played a major role in the social media revolution. 
A)  people in this demographic are known for being techno-savvy. 
B)  baby boomers typically have little money to spend. 
C)  very large numbers of people make up this demographic. 
D)  online ads are most effective when seen by people of all ages. 
E)  seniors have played a major role in the social media revolution.

Question 2

Which of the following is least likely a result of shifts in the cultural and social environment?

Accepted Answer

A)  Domino's Pizza finds that demand for pizza delivered at home has expanded as more consumers are willing to pay for more convenience. 
B)  A toy manufacturer recalls a playpen with a defective latch and Toys 'R' Us stores remove them from the shelf. 
C)  Haagen-Dazs introduces a nonfat yogurt that is also "low cal." 
D)  Sony recruits more women graduates for sales management positions. 
E)  BMW builds its new plant in South Carolina because of the willingness of "Sun Belt" workers to put in a "full day's work." 
A)  Domino's Pizza finds that demand for pizza delivered at home has expanded as more consumers are willing to pay for more convenience. 
B)  A toy manufacturer recalls a playpen with a defective latch and Toys 'R' Us stores remove them from the shelf. 
C)  Haagen-Dazs introduces a nonfat yogurt that is also "low cal." 
D)  Sony recruits more women graduates for sales management positions. 
E)  BMW builds its new plant in South Carolina because of the willingness of "Sun Belt" workers to put in a "full day's work."

Question 3

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

Accepted Answer

A) True 
 B)False

Question 4

When the competitive environment moves toward pure competition,producers offer very different products that consumers do not perceive as substitutes for each other.

Accepted Answer

A) True 
 B)False

Question 5

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 6

Regarding the competitive environment,a marketing manager usually can:

Accepted Answer

A)  choose strategies to avoid head-on competition. 
B)  control it with the help of the legal environment. 
C)  control it in the short run. 
D)  control it with the help of the political environment. 
E)  control it in the long run. 
A)  choose strategies to avoid head-on competition. 
B)  control it with the help of the legal environment. 
C)  control it in the short run. 
D)  control it with the help of the political environment. 
E)  control it in the long run.

Question 7

GNI is 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) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

A carpet cleaning firm runs a newspaper ad stating: "Special this month only! Three rooms of carpet cleaned for $39.95!" In each of the next ten months,the firm runs the same ad.A consumer advocacy group files suit against the carpet cleaning firm,contending that the ad is deceptive.The suit charges that the ad makes it seem as though the $39.95 price is a special price that will increase at the end of the month,when in reality,the price never changes.The U.S.federal law governing this type of situation is the ________.

Accepted Answer

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

Question 10

Gross national income (GNI)is the total ________.

Accepted Answer

A)  cost of producing all goods and services sold in a year 
B)  market value of goods and services provided in an economy in a year by residents of that country 
C)  market value of goods (but not services) consumed in an economy in a year 
D)  market value of goods and services consumed in a year 
E)  market value of goods (but not services) produced in an economy in a year 
A)  cost of producing all goods and services sold in a year 
B)  market value of goods and services provided in an economy in a year by residents of that country 
C)  market value of goods (but not services) consumed in an economy in a year 
D)  market value of goods and services consumed in a year 
E)  market value of goods (but not services) produced in an economy in a year

Question 11

Gen X is smaller in numbers as compared to the boomers that came before.

Accepted Answer

A) True 
 B)False

Question 12

The business strengths dimension of the GE grid focuses on ________.

Accepted Answer

A)  market diversity 
B)  market growth rate 
C)  the ability of the company to pursue a product-market plan effectively 
D)  industry profitability 
E)  the social and legal environment 
A)  market diversity 
B)  market growth rate 
C)  the ability of the company to pursue a product-market plan effectively 
D)  industry profitability 
E)  the social and legal environment

Question 13

In the total profit approach,management forecasts potential sales and costs during the life of the plan to estimate likely profitability.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is the likely impact of the "unification of Europe"?

Accepted Answer

A)  Many of the taxes and rules that have limited trade among member countries of the European Union were eliminated. 
B)  The need to adjust strategies to reach submarkets of European consumers disappeared. 
C)  Firms operating in Europe had harder access to large markets. 
D)  Consumer prices rose and job opportunities became limited. 
E)  The unification complicated inter-European commerce and trade directly. 
A)  Many of the taxes and rules that have limited trade among member countries of the European Union were eliminated. 
B)  The need to adjust strategies to reach submarkets of European consumers disappeared. 
C)  Firms operating in Europe had harder access to large markets. 
D)  Consumer prices rose and job opportunities became limited. 
E)  The unification complicated inter-European commerce and trade directly.

Question 15

Baby boomers were born:

Accepted Answer

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

Question 16

An energy company that has expertise in drilling for oil would also likely have the resources to:

Accepted Answer

A)  manufacture automobiles. 
B)  operate a chain of gas stations. 
C)  drill for natural gas. 
D)  sell office supplies. 
E)  make medical devices. 
A)  manufacture automobiles. 
B)  operate a chain of gas stations. 
C)  drill for natural gas. 
D)  sell office supplies. 
E)  make medical devices.

Question 17

The external marketing environment is shaped by these four areas: economics,technology,politics/law,and culture/society.

Accepted Answer

A) True 
 B)False

Question 18

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 19

A "Buy American" campaign is an example of ________.

Accepted Answer

A)  transnationalism 
B)  nationalism 
C)  environmentalism 
D)  consumerism 
E)  federalism 
A)  transnationalism 
B)  nationalism 
C)  environmentalism 
D)  consumerism 
E)  federalism

Question 20

Generation Z refers to:

Accepted Answer

A)  those born between 1965 and 1977. 
B)  those born since 1995. 
C)  those born between 1946 and 1964. 
D)  those born in the generation immediately following the baby boom. 
A)  those born between 1965 and 1977. 
B)  those born since 1995. 
C)  those born between 1946 and 1964. 
D)  those born in the generation immediately following the baby boom.

Seniors and baby boomers are among the fastest-growing demographic groups on Facebook.Marketers need to study such trends because:

Which of the following is least likely a result of shifts in the cultural and social environment?

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

When the competitive environment moves toward pure competition,producers offer very different products that consumers do not perceive as substitutes for each other.

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

Regarding the competitive environment,a marketing manager usually can:

GNI is 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.

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

Gross national income (GNI)is the total ________.

Gen X is smaller in numbers as compared to the boomers that came before.

The business strengths dimension of the GE grid focuses on ________.

In the total profit approach,management forecasts potential sales and costs during the life of the plan to estimate likely profitability.

Which of the following is the likely impact of the "unification of Europe"?

Baby boomers were born:

An energy company that has expertise in drilling for oil would also likely have the resources to:

The external marketing environment is shaped by these four areas: economics,technology,politics/law,and culture/society.

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

A "Buy American" campaign is an example of ________.

Generation Z refers to:

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

Exam 5: Evaluating Opportunities in the Changing Market Environment

Seniors and baby boomers are among the fastest-growing demographic groups on Facebook.Marketers need to study such trends because:

Which of the following is least likely a result of shifts in the cultural and social environment?

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

When the competitive environment moves toward pure competition,producers offer very different products that consumers do not perceive as substitutes for each other.

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

Regarding the competitive environment,a marketing manager usually can:

GNI is 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.

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

Gross national income (GNI)is the total ________.

Gen X is smaller in numbers as compared to the boomers that came before.

The business strengths dimension of the GE grid focuses on ________.

In the total profit approach,management forecasts potential sales and costs during the life of the plan to estimate likely profitability.

Which of the following is the likely impact of the "unification of Europe"?

Baby boomers were born:

An energy company that has expertise in drilling for oil would also likely have the resources to:

The external marketing environment is shaped by these four areas: economics,technology,politics/law,and culture/society.

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

A "Buy American" campaign is an example of ________.

Generation Z refers to:

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