Question 1

Which of the following newspaper headlines is MOST LIKELY to be a result of changes in the cultural and social environment?

Accepted Answer

A)  "McDonald's Changes Its Menu to Cater to Low-Carb Dieters." 
B)  "General Motors Offers Original Equipment Car Stereos with Satellite Radio Service." 
C)  "Treasury Department Introduces New Currency to Combat Counterfeiters." 
D)  "New Projection TVs Are Thinner, Lighter than Traditional TVs." 
E)  "Gasoline Prices Increase Sharply." 
A)  "McDonald's Changes Its Menu to Cater to Low-Carb Dieters." 
B)  "General Motors Offers Original Equipment Car Stereos with Satellite Radio Service." 
C)  "Treasury Department Introduces New Currency to Combat Counterfeiters." 
D)  "New Projection TVs Are Thinner, Lighter than Traditional TVs." 
E)  "Gasoline Prices Increase Sharply."

Question 2

In the U.S.,which population groups will fuel new opportunities in tourism,healthcare and financial services?

Accepted Answer

A)  Baby boomers and seniors 
B)  Generation X and Generation Y 
C)  Singles and newly divorced 
D)  Generation Y and Generation Z 
E)  Baby boomers and baby busters 
A)  Baby boomers and seniors 
B)  Generation X and Generation Y 
C)  Singles and newly divorced 
D)  Generation Y and Generation Z 
E)  Baby boomers and baby busters

Question 3

American economic and legislative thinking is based on the idea that ________.

Accepted Answer

A)  encouraging competition harms public interest 
B)  competition among many small firms helps the economy 
C)  attempts by business to limit competition aids large firms during recessions 
D)  the economic environment provides a base for the technological environment 
E)  changes in the legal environment lead to changes in the political environment 
A)  encouraging competition harms public interest 
B)  competition among many small firms helps the economy 
C)  attempts by business to limit competition aids large firms during recessions 
D)  the economic environment provides a base for the technological environment 
E)  changes in the legal environment lead to changes in the political environment

Question 4

If Climbing High Ladder Company produced ladders that were unstable and caused many injuries,the ________ has the power to force the company to recall its product.

Accepted Answer

A)  Consumer Product Safety Commission 
B)  Food and Drug Administration 
C)  Federal Trade Commission 
D)  Environmental Protection Agency 
E)  Consumer Protection Agency 
A)  Consumer Product Safety Commission 
B)  Food and Drug Administration 
C)  Federal Trade Commission 
D)  Environmental Protection Agency 
E)  Consumer Protection Agency

Question 5

Which of the following countries is likely to see a population decline from 2013-2025?

Accepted Answer

A)  Germany 
B)  Somalia 
C)  United States 
D)  United Kingdom 
E)  China 
A)  Germany 
B)  Somalia 
C)  United States 
D)  United Kingdom 
E)  China

Question 6

GE's planning grid approach

Accepted Answer

A)  doesn't work because different managers usually come to different conclusions given the subjective evaluations involved. 
B)  is really the same thing as the total profit approach. 
C)  overemphasizes short term profitability. 
D)  is superficial because it considers only size and expected market share, and ignores other possibly important factors. 
E)  could be adapted easily by another firm with different objectives. 
A)  doesn't work because different managers usually come to different conclusions given the subjective evaluations involved. 
B)  is really the same thing as the total profit approach. 
C)  overemphasizes short term profitability. 
D)  is superficial because it considers only size and expected market share, and ignores other possibly important factors. 
E)  could be adapted easily by another firm with different objectives.

Question 7

When planning a marketing strategy,managers have control over:

Accepted Answer

A)  the political and legal environment. 
B)  the cultural and social environment. 
C)  the economic environment. 
D)  their response to forces in the external market environment. 
E)  consumers. 
A)  the political and legal environment. 
B)  the cultural and social environment. 
C)  the economic environment. 
D)  their response to forces in the external market environment. 
E)  consumers.

Question 8

Which of the following newspaper headlines would be LEAST likely to involve the political environment?

Accepted Answer

A)  U.S.-Vietnamese Joint Ventures in the Future. 
B)  Egg Sales Fall as Consumers Switch to Low Cholesterol Diets. 
C)  U.S. Signs Trade Agreement with Venezuela. 
D)  FDA Adopts New Regulations for Generic Drugs. 
E)  Consumers Urged to "Buy American." 
A)  U.S.-Vietnamese Joint Ventures in the Future. 
B)  Egg Sales Fall as Consumers Switch to Low Cholesterol Diets. 
C)  U.S. Signs Trade Agreement with Venezuela. 
D)  FDA Adopts New Regulations for Generic Drugs. 
E)  Consumers Urged to "Buy American."

Question 9

Forecasts of the probable results of implementing whole strategic plans are needed to apply quantitative screening criteria.

Accepted Answer

A) True 
 B)False

Question 10

A mission statement should focus on just the key goals for the organization.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following countries have the LOWEST GNI PER CAPITA?

Accepted Answer

A)  Japan and Switzerland 
B)  Mexico and Spain 
C)  Ethiopia and Kenya 
D)  India and Pakistan 
E)  Germany and the United States 
A)  Japan and Switzerland 
B)  Mexico and Spain 
C)  Ethiopia and Kenya 
D)  India and Pakistan 
E)  Germany and the United States

Question 12

Which of the following is NOT primarily an example of the influence of technology on the external market environment?

Accepted Answer

A)  A camera producer finds a way to enable a camera to store digital pictures-without film. 
B)  Machines are developed to assemble defect-free electronic components. 
C)  Robots on a production line make it possible to lower cost. 
D)  A manufacturer of frozen food is finding that consumers prefer containers that can go from the freezer direct to a microwave oven. 
E)  The government passes a law that prohibits use of cell phones while driving a vehicle. 
A)  A camera producer finds a way to enable a camera to store digital pictures-without film. 
B)  Machines are developed to assemble defect-free electronic components. 
C)  Robots on a production line make it possible to lower cost. 
D)  A manufacturer of frozen food is finding that consumers prefer containers that can go from the freezer direct to a microwave oven. 
E)  The government passes a law that prohibits use of cell phones while driving a vehicle.

Question 13

Less-developed countries usually experience the slowest population growth.

Accepted Answer

A) True 
 B)False

Question 14

Gross domestic product includes foreign income earned in a country.

Accepted Answer

A) True 
 B)False

Question 15

Although the marketing manager cannot control the competitive environment,he can choose strategies that will avoid head-on situations.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following U.S.antimonopoly laws deals with conspiracy to fix prices?

Accepted Answer

A)  Clayton Act (1914) 
B)  Magnuson-Moss Act (1975) 
C)  FTC Act (1914) 
D)  Sherman Act (1890) 
E)  Wheeler-Lea Amendment (1938) 
A)  Clayton Act (1914) 
B)  Magnuson-Moss Act (1975) 
C)  FTC Act (1914) 
D)  Sherman Act (1890) 
E)  Wheeler-Lea Amendment (1938)

Question 17

Safety standards for products such as bicycles are set by the ________.

Accepted Answer

A)  Consumer Product Safety Commission 
B)  U.S. Department of Transportation 
C)  Federal Trade Commission 
D)  Environmental Protection Agency 
E)  Food and Drug Administration 
A)  Consumer Product Safety Commission 
B)  U.S. Department of Transportation 
C)  Federal Trade Commission 
D)  Environmental Protection Agency 
E)  Food and Drug Administration

Question 18

The "total profit" approach to evaluating possible product-market strategic plans:

Accepted Answer

A)  is the best approach to use. 
B)  cannot be used to compare possible plans unless they are very similar. 
C)  may support a plan that is not the most profitable in the short run. 
D)  requires only sales forecasts for the life of possible plans. 
A)  is the best approach to use. 
B)  cannot be used to compare possible plans unless they are very similar. 
C)  may support a plan that is not the most profitable in the short run. 
D)  requires only sales forecasts for the life of possible plans.

Question 19

The first and most important question to ask when evaluating product-market opportunities is:

Accepted Answer

A)  "How does it fit with our objectives and resources?" 
B)  "What is the sales forecast for this product?" 
C)  "How much profit will we make this year?" 
D)  "How much do we need to invest in this product?" 
E)  "How far along is our research and development effort in this area?" 
A)  "How does it fit with our objectives and resources?" 
B)  "What is the sales forecast for this product?" 
C)  "How much profit will we make this year?" 
D)  "How much do we need to invest in this product?" 
E)  "How far along is our research and development effort in this area?"

Question 20

Which of the following statements about the legal environment in the United States is true?

Accepted Answer

A)  Individual managers are subject to criminal penalties. 
B)  The Food and Drug Administration (FD
A)  has no right to seize any product even if it violates the regulations. 
C)  Many laws try to limit competition among firms. 
D)  Consumer protection laws were introduced in the United States after 1940. 
E)  Businesses managers are not subject to civil laws. 
A)  Individual managers are subject to criminal penalties. 
B)  The Food and Drug Administration (FD
A)  has no right to seize any product even if it violates the regulations. 
C)  Many laws try to limit competition among firms. 
D)  Consumer protection laws were introduced in the United States after 1940. 
E)  Businesses managers are not subject to civil laws.

Exam 5: Evaluating Opportunities in the Changing Market Environment

Which of the following newspaper headlines is MOST LIKELY to be a result of changes in the cultural and social environment?

In the U.S.,which population groups will fuel new opportunities in tourism,healthcare and financial services?

American economic and legislative thinking is based on the idea that ________.

If Climbing High Ladder Company produced ladders that were unstable and caused many injuries,the ________ has the power to force the company to recall its product.

Which of the following countries is likely to see a population decline from 2013-2025?

GE's planning grid approach

When planning a marketing strategy,managers have control over:

Which of the following newspaper headlines would be LEAST likely to involve the political environment?

Forecasts of the probable results of implementing whole strategic plans are needed to apply quantitative screening criteria.

A mission statement should focus on just the key goals for the organization.

Which of the following countries have the LOWEST GNI PER CAPITA?

Which of the following is NOT primarily an example of the influence of technology on the external market environment?

Less-developed countries usually experience the slowest population growth.

Gross domestic product includes foreign income earned in a country.

Although the marketing manager cannot control the competitive environment,he can choose strategies that will avoid head-on situations.

Which of the following U.S.antimonopoly laws deals with conspiracy to fix prices?

Safety standards for products such as bicycles are set by the ________.

The "total profit" approach to evaluating possible product-market strategic plans:

The first and most important question to ask when evaluating product-market opportunities is:

Which of the following statements about the legal environment in the United States is true?

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