Question 1

American legislative and economic thinking assumes that:

Accepted Answer

A)  competition among many small firms helps the economy. 
B)  firms must have their prices approved by the Federal Trade Commission. 
C)  the free enterprise system is dying. 
D)  laws are needed to prevent firms from competing with similar ("me-too") products. 
E)  government officials are needed to run the economy. 
A)  competition among many small firms helps the economy. 
B)  firms must have their prices approved by the Federal Trade Commission. 
C)  the free enterprise system is dying. 
D)  laws are needed to prevent firms from competing with similar ("me-too") products. 
E)  government officials are needed to run the economy.

Question 2

Which of the following countries has the highest population density?

Accepted Answer

A)  Switzerland 
B)  United States 
C)  Australia 
D)  Singapore 
E)  Bangladesh 
A)  Switzerland 
B)  United States 
C)  Australia 
D)  Singapore 
E)  Bangladesh

Question 3

The objectives that are expected to shape the direction and operation of the whole business are known as ________ objectives.

Accepted Answer

A)  R&D 
B)  collective 
C)  price 
D)  personal selling 
E) company 
A)  R&D 
B)  collective 
C)  price 
D)  personal selling 
E) company

Question 4

Interest rates usually decrease during periods of inflation.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following observations concerning different measures of national income is TRUE?

Accepted Answer

A)  GDP does not include income earned by foreigners who own resources in that nation. 
B)  Using GNI can give the impression that people in less-developed countries have more income than they really do. 
C)  GNI per capita is a useful figure because it gives some idea of the income level of people in the country. 
D)  The less-developed nations account for the biggest share of the world's GDP. 
E)  GDP is the only measure of national income. 
A)  GDP does not include income earned by foreigners who own resources in that nation. 
B)  Using GNI can give the impression that people in less-developed countries have more income than they really do. 
C)  GNI per capita is a useful figure because it gives some idea of the income level of people in the country. 
D)  The less-developed nations account for the biggest share of the world's GDP. 
E)  GDP is the only measure of national income.

Question 6

India has more people than the United States,and China has more people than India.

Accepted Answer

A) True 
 B)False

Question 7

The opportunities a firm decides to pursue may depend on its resources and capabilities.

Accepted Answer

A) True 
 B)False

Question 8

A mission statement can help a manager decide which opportunities to pursue and which to screen out.

Accepted Answer

A) True 
 B)False

Question 9

A firm may use all of the following methods for beating the competition except:

Accepted Answer

A)  apply for patents. 
B)  seek a monopoly. 
C)  develop a sustainable competitive advantage. 
D)  conduct a competitor analysis. 
E)  utilize advanced technology. 
A)  apply for patents. 
B)  seek a monopoly. 
C)  develop a sustainable competitive advantage. 
D)  conduct a competitor analysis. 
E)  utilize advanced technology.

Question 10

Which of the following is true of a mission statement of an organization?

Accepted Answer

A)  	It focuses on embracing all goals of an organization. 
B)  	It encourages managers to hold conflicting objectives in crisis situations. 
C)  	It sets out the organization’s basic purpose for being. 
D)  	It serves as a substitute for more specific objectives guiding screening of possible opportunities. 
E)  	It does not require any revision even when the market environment changes. 
A)  	It focuses on embracing all goals of an organization. 
B)  	It encourages managers to hold conflicting objectives in crisis situations. 
C)  	It sets out the organization’s basic purpose for being. 
D)  	It serves as a substitute for more specific objectives guiding screening of possible opportunities. 
E)  	It does not require any revision even when the market environment changes.

Question 11

Swanson Beverages,Inc.,asks its marketing managers to compare the strengths and weaknesses of its current target market and marketing mix with what its competitors are doing (or are likely to do).In this context,what is the approach of Swanson Beverages?

Accepted Answer

A)  Competitor clustering 
B)  Scenario analysis 
C)  Brand positioning 
D)  Marketing mix review 
E)  Competitor analysis 
A)  Competitor clustering 
B)  Scenario analysis 
C)  Brand positioning 
D)  Marketing mix review 
E)  Competitor analysis

Question 12

The competitive environment has no relationship with the number and types of competitors the marketing manager must face and how they may behave.

Accepted Answer

A) True 
 B)False

Question 13

The Sherman Act is primarily designed to:

Accepted Answer

A)  prevent monopolies or conspiracies in restraint of trade. 
B)  stop the flow of foreign products into the United States. 
C)  prevent unfair or deceptive acts or practices in commerce. 
D)  reduce price discrimination by manufacturers. 
E)  eliminate deceptive selling practices. 
A)  prevent monopolies or conspiracies in restraint of trade. 
B)  stop the flow of foreign products into the United States. 
C)  prevent unfair or deceptive acts or practices in commerce. 
D)  reduce price discrimination by manufacturers. 
E)  eliminate deceptive selling practices.

Question 14

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 force 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 group 
D)  online ads are most effective when seen by people of all ages 
A)  people in this demographic force 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 group 
D)  online ads are most effective when seen by people of all ages

Question 15

When Acme Tools was found guilty of giving one of its retailers lower prices on goods of "like grade and quality" without any cost justification,the firm was charged with a violation of the ________ Act.

Accepted Answer

A)  Sherman 
B)  Clayton 
C)  Robinson-Patman 
D)  Antimerger 
E)  Magnuson-MossWheeler-Lea Amendment 
A)  Sherman 
B)  Clayton 
C)  Robinson-Patman 
D)  Antimerger 
E)  Magnuson-MossWheeler-Lea Amendment

Question 16

When selecting among possible product-market strategic plans,

Accepted Answer

A)  the total profit approach tends to support plans that will be profitable in the short term even if longer term profits would be higher with another plan. 
B)  the total profit approach requires estimates of sales and total costs. 
C)  the total profit approach compares plans that require the same investment. 
D)  None of these statements is true. 
A)  the total profit approach tends to support plans that will be profitable in the short term even if longer term profits would be higher with another plan. 
B)  the total profit approach requires estimates of sales and total costs. 
C)  the total profit approach compares plans that require the same investment. 
D)  None of these statements is true.

Question 17

If the cost of production per unit goes down as the quantity produced increases,small producers can be at a great cost disadvantage.

Accepted Answer

A) True 
 B)False

Question 18

A useful tool for organizing the competitor analysis is ________.

Accepted Answer

A)  the table of competitive rivals 
B)  rivals chart 
C)  the oligopoly chart 
D)  a competitor grid 
E)  a competitor matrix 
A)  the table of competitive rivals 
B)  rivals chart 
C)  the oligopoly chart 
D)  a competitor grid 
E)  a competitor matrix

Question 19

Which of the following countries has the fastest projected population growth between 2013 and 2025?

Accepted Answer

A)  United Kingdom 
B)  Canada 
C)  Germany 
D)  United States 
E)  Ethiopia 
A)  United Kingdom 
B)  Canada 
C)  Germany 
D)  United States 
E)  Ethiopia

Question 20

Managers are now applying new screening criteria,sustainability,that reinforces the importance of meeting present needs without compromising the ability of future generations to meet their own needs.

Accepted Answer

A) True 
 B)False

Exam 5: Evaluating Opportunities in the Changing Market Environment

American legislative and economic thinking assumes that:

Which of the following countries has the highest population density?

The objectives that are expected to shape the direction and operation of the whole business are known as ________ objectives.

Interest rates usually decrease during periods of inflation.

Which of the following observations concerning different measures of national income is TRUE?

India has more people than the United States,and China has more people than India.

The opportunities a firm decides to pursue may depend on its resources and capabilities.

A mission statement can help a manager decide which opportunities to pursue and which to screen out.

A firm may use all of the following methods for beating the competition except:

Which of the following is true of a mission statement of an organization?

Swanson Beverages,Inc.,asks its marketing managers to compare the strengths and weaknesses of its current target market and marketing mix with what its competitors are doing (or are likely to do).In this context,what is the approach of Swanson Beverages?

The competitive environment has no relationship with the number and types of competitors the marketing manager must face and how they may behave.

The Sherman Act is primarily designed to:

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

When Acme Tools was found guilty of giving one of its retailers lower prices on goods of "like grade and quality" without any cost justification,the firm was charged with a violation of the ________ Act.

When selecting among possible product-market strategic plans,

If the cost of production per unit goes down as the quantity produced increases,small producers can be at a great cost disadvantage.

A useful tool for organizing the competitor analysis is ________.

Which of the following countries has the fastest projected population growth between 2013 and 2025?

Managers are now applying new screening criteria,sustainability,that reinforces the importance of meeting present needs without compromising the ability of future generations to meet their own needs.

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