Question 1

Placing the interests of individual consumers before the interests of business is nationalism.

Accepted Answer

A) True 
 B)False

Question 2

Company objectives should shape the direction and operation of the whole business.

Accepted Answer

A) True 
 B)False

Question 3

The Sherman Act sought to ________.

Accepted Answer

A)  prevent monopolies or conspiracies in restraint of trade 
B)  establish the Federal Consumer Protection Agency 
C)  eliminate price differences among different competing suppliers 
D)  prevent fraud on the Internet 
E)  restrict importing into the United States 
A)  prevent monopolies or conspiracies in restraint of trade 
B)  establish the Federal Consumer Protection Agency 
C)  eliminate price differences among different competing suppliers 
D)  prevent fraud on the Internet 
E)  restrict importing into the United States

Question 4

The Magnuson-Moss Act regulates product warranties.

Accepted Answer

A) True 
 B)False

Question 5

The cultural and social environment affects how and why people live and behave as they do.

Accepted Answer

A) True 
 B)False

Question 6

In 1980,the median age of the U.S.population was 37.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true of interest rates?

Accepted Answer

A)  They often change with changes in the economy. 
B)  They affect consumer markets, but not business customers. 
C)  They usually decrease during periods of inflation. 
D)  They do not directly affect the total price borrowers must pay for loans. 
E)  They do not affect the prices buyers pay. 
A)  They often change with changes in the economy. 
B)  They affect consumer markets, but not business customers. 
C)  They usually decrease during periods of inflation. 
D)  They do not directly affect the total price borrowers must pay for loans. 
E)  They do not affect the prices buyers pay.

Question 8

GE's Planning Grid approach to evaluating proposed and existing plans and businesses:

Accepted Answer

A)  considers how profitable opportunities are likely to be. 
B)  reflects the corporation's objectives. 
C)  helps managers see why some ideas are supported and others are not. 
D)  is a subjective, multiple-factor approach. 
E)  All of these alternatives about GE's Planning Grid are true. 
A)  considers how profitable opportunities are likely to be. 
B)  reflects the corporation's objectives. 
C)  helps managers see why some ideas are supported and others are not. 
D)  is a subjective, multiple-factor approach. 
E)  All of these alternatives about GE's Planning Grid are true.

Question 9

The Consumer Product Safety Commission is responsible for:

Accepted Answer

A)  developing and enforcing safety standards for bicycles. 
B)  developing and enforcing environmental protection standards. 
C)  preventing the distribution and sale of adulterated or misbranded foods, drugs, and cosmetics. 
D)  None of these is correct. 
A)  developing and enforcing safety standards for bicycles. 
B)  developing and enforcing environmental protection standards. 
C)  preventing the distribution and sale of adulterated or misbranded foods, drugs, and cosmetics. 
D)  None of these is correct.

Question 10

Gross domestic product (GDP):

Accepted Answer

A)  is affected by economic conditions and the productivity of workers in the country. 
B)  usually rises when there are bad economic conditions in an economy. 
C)  is the amount of new capital invested in business in a year. 
D)  is the total cost of producing all goods and services in a year. 
E)  is the total market value of goods and services consumed in an economy in a year. 
A)  is affected by economic conditions and the productivity of workers in the country. 
B)  usually rises when there are bad economic conditions in an economy. 
C)  is the amount of new capital invested in business in a year. 
D)  is the total cost of producing all goods and services in a year. 
E)  is the total market value of goods and services consumed in an economy in a year.

Question 11

The Clayton Act specifically aims at ________.

Accepted Answer

A)  deceptive ads or selling pricing 
B)  discrimination in help offered 
C)  exclusive dealing contracts limiting a buyer's sources of supply 
D)  deceptive packaging or branding 
E)  unfair policies and product warranties 
A)  deceptive ads or selling pricing 
B)  discrimination in help offered 
C)  exclusive dealing contracts limiting a buyer's sources of supply 
D)  deceptive packaging or branding 
E)  unfair policies and product warranties

Question 12

Which of the following statements about demographic changes in the United States is not true?

Accepted Answer

A)  Demographic changes like population groupings are difficult to anticipate. 
B)  Senior citizens will grow in number rapidly from 2005 to 2025. 
C)  The number of kids age 0-9 will grow from about 40 million to about 45 million from 2005 to 2025. 
D)  In 2025 there will be fewer people over age 80 than under age 10. 
E)  In 2005, the number of kids 0-9 was about the same as the number of those in their 20s. 
A)  Demographic changes like population groupings are difficult to anticipate. 
B)  Senior citizens will grow in number rapidly from 2005 to 2025. 
C)  The number of kids age 0-9 will grow from about 40 million to about 45 million from 2005 to 2025. 
D)  In 2025 there will be fewer people over age 80 than under age 10. 
E)  In 2005, the number of kids 0-9 was about the same as the number of those in their 20s.

Question 13

Both GDP and GNI measures of national income.

Accepted Answer

A) True 
 B)False

Question 14

The marketing manager for Lucky Grains cereals is forecasting potential lifetime sales,costs,and profitability for a potential new product-Lucky Rice Squares.The marketing manager is using ____ to evaluate this opportunity.

Accepted Answer

A)  cost plus assessment 
B)  operating margins screen 
C)  industry attractiveness matrix 
D)  strategic planning grid 
E)  total profit approach 
A)  cost plus assessment 
B)  operating margins screen 
C)  industry attractiveness matrix 
D)  strategic planning grid 
E)  total profit approach

Question 15

Which of the following can a firm do to be more sustainable?

Accepted Answer

A)  Produce light bulbs with raw materials that consume more energy 
B)  Manufacture textiles using chrome and ammonium solutions 
C)  Use ink-free recycled paperboard for making boxes 
D)  Fly the national sales force to a meeting instead of using teleconferencing technology 
E)  Replace electric delivery vehicles with gas-powered ones 
A)  Produce light bulbs with raw materials that consume more energy 
B)  Manufacture textiles using chrome and ammonium solutions 
C)  Use ink-free recycled paperboard for making boxes 
D)  Fly the national sales force to a meeting instead of using teleconferencing technology 
E)  Replace electric delivery vehicles with gas-powered ones

Question 16

Adoption of the Internet and cell phones is having its greatest impact in developing countries.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is an element of the direct market environment?

Accepted Answer

A)  Competitors 
B) 
Economic environment 
C)  Demographic trends 
D)  Technological environment 
E)  Cultural environment 
A)  Competitors 
B) 
Economic environment 
C)  Demographic trends 
D)  Technological environment 
E)  Cultural environment

Question 18

According to the "continuum of environmental sensitivity," which of the following types of products would be most insensitive to environmental changes?

Accepted Answer

A)  Basic commodity-type consumer products 
B)  Industrial products 
C)  Consumer products that are tied to cultural variables 
D)  Consumer products closely linked to social variables 
A)  Basic commodity-type consumer products 
B)  Industrial products 
C)  Consumer products that are tied to cultural variables 
D)  Consumer products closely linked to social variables

Question 19

The Magnuson-Moss Act of 1975 focuses on which of the four Ps?

Accepted Answer

A)  Price 
B)  Place 
C)  Promotion 
D)  People 
E)  Product 
A)  Price 
B)  Place 
C)  Promotion 
D)  People 
E)  Product

Question 20

Regarding the competitive environment:

Accepted Answer

A)  It is easy to find environments that are "competitor-free." 
B)  Monopoly situations are more common than are situations characterized by monopolistic competition. 
C)  "Competitive rivals" are a firm's closest competitors. 
D)  Competitor analysis should begin with an identification of competitors from the viewpoint of the manager, not the consumer. 
A)  It is easy to find environments that are "competitor-free." 
B)  Monopoly situations are more common than are situations characterized by monopolistic competition. 
C)  "Competitive rivals" are a firm's closest competitors. 
D)  Competitor analysis should begin with an identification of competitors from the viewpoint of the manager, not the consumer.

Exam 5: Evaluating Opportunities in the Changing Market Environment

Placing the interests of individual consumers before the interests of business is nationalism.

Company objectives should shape the direction and operation of the whole business.

The Sherman Act sought to ________.

The Magnuson-Moss Act regulates product warranties.

The cultural and social environment affects how and why people live and behave as they do.

In 1980,the median age of the U.S.population was 37.

Which of the following is true of interest rates?

GE's Planning Grid approach to evaluating proposed and existing plans and businesses:

The Consumer Product Safety Commission is responsible for:

Gross domestic product (GDP):

The Clayton Act specifically aims at ________.

Which of the following statements about demographic changes in the United States is not true?

Both GDP and GNI measures of national income.

The marketing manager for Lucky Grains cereals is forecasting potential lifetime sales,costs,and profitability for a potential new product-Lucky Rice Squares.The marketing manager is using ____ to evaluate this opportunity.

Which of the following can a firm do to be more sustainable?

Adoption of the Internet and cell phones is having its greatest impact in developing countries.

Which of the following is an element of the direct market environment?

According to the "continuum of environmental sensitivity," which of the following types of products would be most insensitive to environmental changes?

The Magnuson-Moss Act of 1975 focuses on which of the four Ps?

Regarding the competitive environment:

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