Question 1

Income used to buy luxury items such as a Cunard cruise is referred to as __________.

Accepted Answer

A) gross income 
B) disposable income 
C) surplus income 
D) wealth income 
E) discretionary income 
A) gross income 
B) disposable income 
C) surplus income 
D) wealth income 
E) discretionary income

Question 2

The groups primarily served by a firm exhibiting profit responsibility include

Accepted Answer

A) the general public, public interest groups, and the environment. 
B) consumers, employees, and supplier/distributors. 
C) owners and stockholders. 
D) the general public and competitors. 
E) state and federal government. 
A) the general public, public interest groups, and the environment. 
B) consumers, employees, and supplier/distributors. 
C) owners and stockholders. 
D) the general public and competitors. 
E) state and federal government.

Question 3

Explain the trends in the racial and ethnic composition of the U.S. how marketers can use this information.

Accepted Answer

Another notable demographic characterist

Question 4

The 50 million people of the population born between 1965 and 1976, also called the baby bust, refers to __________.

Accepted Answer

A) Generation X 
B) millennials 
C) Generation Y 
D) Generation Z 
E) baby boomers 
A) Generation X 
B) millennials 
C) Generation Y 
D) Generation Z 
E) baby boomers

Question 5

As the director of marketing for Littleton Hospital, you must conduct an environmental scan to help create a five-year marketing plan for the hospital. Which of the following environmental trends should you consider to be the most important?

Accepted Answer

A) The number of people in the geographic area who are 65 years or older will increase by 23 percent during the next five years. 
B) By the year 2015, baby boomers will control more than 50 percent of all consumer expenditures in the U.S. 
C) The Littleton community has seen a rise in dual-income households. 
D) By the year 2025, robotics will play a major role in surgical procedures. 
E) Twenty percent of the local population is of Hispanic origin. 
A) The number of people in the geographic area who are 65 years or older will increase by 23 percent during the next five years. 
B) By the year 2015, baby boomers will control more than 50 percent of all consumer expenditures in the U.S. 
C) The Littleton community has seen a rise in dual-income households. 
D) By the year 2025, robotics will play a major role in surgical procedures. 
E) Twenty percent of the local population is of Hispanic origin.

Question 6

Agribusinesses that sell commodity products like wheat, rice, and grain are often in a(n) __________ position with their competitors.

Accepted Answer

A) limited competition 
B) pure competition 
C) oligopolistic competition 
D) monopolistic competition 
E) monopolistic 
A) limited competition 
B) pure competition 
C) oligopolistic competition 
D) monopolistic competition 
E) monopolistic

Question 7

The most recent estimate indicates that the population of the world today is about __________.

Accepted Answer

A) 5.0 billion 
B) 6.3 billion 
C) 7.1 billion 
D) 7.9 billion 
E) 9.5 billion 
A) 5.0 billion 
B) 6.3 billion 
C) 7.1 billion 
D) 7.9 billion 
E) 9.5 billion

Question 8

The legal concept of 'let the buyer beware,' which was pervasive in the American business culture prior to the 1960s, is referred to as __________.

Accepted Answer

A) ad nauseum 
B) mea culpa 
C) quid pro quo 
D) ćest la vie 
E) caveat emptor 
A) ad nauseum 
B) mea culpa 
C) quid pro quo 
D) ćest la vie 
E) caveat emptor

Question 9

Ultimately, ethical choices are based on

Accepted Answer

A) the personal moral philosophy of the decision maker. 
B) societal culture and norms. 
C) business culture and industry practices. 
D) laws enacted by Congress and regulations by federal and state governments. 
E) chance and opportunity. 
A) the personal moral philosophy of the decision maker. 
B) societal culture and norms. 
C) business culture and industry practices. 
D) laws enacted by Congress and regulations by federal and state governments. 
E) chance and opportunity.

Question 10

The set of values, ideas, and attitudes that is learned and shared among the members of an organization is referred to as __________.

Accepted Answer

A) a mission statement 
B) core values 
C) the socialization process 
D) a code of ethics and conduct 
E) corporate culture 
A) a mission statement 
B) core values 
C) the socialization process 
D) a code of ethics and conduct 
E) corporate culture

Question 11

The Department of Labor monitors consumer expenditures through its annual __________.

Accepted Answer

A) Consumer Price Index 
B) Consumer Confidence Index 
C) Consumer Expenditure Survey 
D) Index of Consumer Sentiment 
E) National Consumer Spending Assessment 
A) Consumer Price Index 
B) Consumer Confidence Index 
C) Consumer Expenditure Survey 
D) Index of Consumer Sentiment 
E) National Consumer Spending Assessment

Question 12

Projections show that the population is __________.

Accepted Answer

A) growing in most developed countries 
B) declining in most developing countries 
C) decreasing in Africa 
D) increasing in Asia 
E) decreasing in Latin America 
A) growing in most developed countries 
B) declining in most developing countries 
C) decreasing in Africa 
D) increasing in Asia 
E) decreasing in Latin America

Question 13

In marketing, the form of competition that occurs when only one firm sells the product is referred to as __________.

Accepted Answer

A) pure competition 
B) a megopoly 
C) an oligopoly 
D) monopolistic competition 
E) pure monopoly 
A) pure competition 
B) a megopoly 
C) an oligopoly 
D) monopolistic competition 
E) pure monopoly

Question 14

All of the following statements about the environmental forces that have influenced Facebook are true EXCEPT:

Accepted Answer

A) the Federal Trade Commission (FT
C)  has had a laissez faire policy of not interfering with the development and marketing of Facebook and other social media websites. 
B) technological advances in data storage, server speed, and software integration have made Facebook fast and convenient. 
C) Google and Facebook are becoming fierce competitors for the role of society's depository of information. 
D) the cost of wireless connectivity, Internet service, and smartphones rapidly declined and made social networking affordable for consumers around the world. 
E) people became increasingly interested in the social aspects of the Internet, sharing more and more information about themselves. 
A) the Federal Trade Commission (FT
C)  has had a laissez faire policy of not interfering with the development and marketing of Facebook and other social media websites. 
B) technological advances in data storage, server speed, and software integration have made Facebook fast and convenient. 
C) Google and Facebook are becoming fierce competitors for the role of society's depository of information. 
D) the cost of wireless connectivity, Internet service, and smartphones rapidly declined and made social networking affordable for consumers around the world. 
E) people became increasingly interested in the social aspects of the Internet, sharing more and more information about themselves.

Question 15

For 18 months, Warner-Lambert Co. was required to include the following statement in all television advertisements for Listerine: "Listerine will not help prevent colds or sore throats or lessen their severity." The Federal Trade Commission (FTC) imposed this requirement because previous advertising had caused consumers to believe Listerine was effective against colds. This is an example of the FTC action known as

Accepted Answer

A) corrective advertising. 
B) deceptive advertising. 
C) unethical advertising. 
D) cease-and-desist advertising. 
E) self-regulation. 
A) corrective advertising. 
B) deceptive advertising. 
C) unethical advertising. 
D) cease-and-desist advertising. 
E) self-regulation.

Question 16

Which of the following would be identified as a social force in an environmental scan?

Accepted Answer

A) a new consumer protection law 
B) an increase in Asian immigration 
C) an advanced technology is perfected 
D) a decrease in consumer incomes 
E) a new international firm exports to the United States 
A) a new consumer protection law 
B) an increase in Asian immigration 
C) an advanced technology is perfected 
D) a decrease in consumer incomes 
E) a new international firm exports to the United States

Question 17

Pending federal legislation will require all online retailers to collect state sales taxes from customers. This would affect online sellers such as Virtual Vineyards, which now only collects state sales taxes from customers who reside in California - its home state. This pending legislation would be an example of which environmental force?

Accepted Answer

A) social 
B) economic 
C) technological 
D) competitive 
E) regulatory 
A) social 
B) economic 
C) technological 
D) competitive 
E) regulatory

Question 18

In marketing, the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings are referred to as

Accepted Answer

A) societal norms. 
B) societal mores. 
C) business cultures. 
D) fair trade practices. 
E) corporate values. 
A) societal norms. 
B) societal mores. 
C) business cultures. 
D) fair trade practices. 
E) corporate values.

Question 19

When the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products, this marketing practice is referred to as

Accepted Answer

A) marketing philanthropy. 
B) marketing allegiance. 
C) relationship marketing. 
D) transactional marketing. 
E) cause marketing. 
A) marketing philanthropy. 
B) marketing allegiance. 
C) relationship marketing. 
D) transactional marketing. 
E) cause marketing.

Question 20

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of a(n) __________.

Accepted Answer

A) oligopoly 
B) trilateral monopoly 
C) monopoly 
D) pure competition 
E) monopolistic competition 
A) oligopoly 
B) trilateral monopoly 
C) monopoly 
D) pure competition 
E) monopolistic competition

Income used to buy luxury items such as a Cunard cruise is referred to as __________.

The groups primarily served by a firm exhibiting profit responsibility include

Explain the trends in the racial and ethnic composition of the U.S. how marketers can use this information.

The 50 million people of the population born between 1965 and 1976, also called the baby bust, refers to __________.

As the director of marketing for Littleton Hospital, you must conduct an environmental scan to help create a five-year marketing plan for the hospital. Which of the following environmental trends should you consider to be the most important?

Agribusinesses that sell commodity products like wheat, rice, and grain are often in a(n) __________ position with their competitors.

The most recent estimate indicates that the population of the world today is about __________.

The legal concept of 'let the buyer beware,' which was pervasive in the American business culture prior to the 1960s, is referred to as __________.

Ultimately, ethical choices are based on

The set of values, ideas, and attitudes that is learned and shared among the members of an organization is referred to as __________.

The Department of Labor monitors consumer expenditures through its annual __________.

Projections show that the population is __________.

In marketing, the form of competition that occurs when only one firm sells the product is referred to as __________.

All of the following statements about the environmental forces that have influenced Facebook are true EXCEPT:

Which of the following would be identified as a social force in an environmental scan?

In marketing, the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings are referred to as

When the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products, this marketing practice is referred to as

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of a(n) __________.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

Exam 3: Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Income used to buy luxury items such as a Cunard cruise is referred to as __________.

The groups primarily served by a firm exhibiting profit responsibility include

Explain the trends in the racial and ethnic composition of the U.S. how marketers can use this information.

The 50 million people of the population born between 1965 and 1976, also called the baby bust, refers to __________.

As the director of marketing for Littleton Hospital, you must conduct an environmental scan to help create a five-year marketing plan for the hospital. Which of the following environmental trends should you consider to be the most important?

Agribusinesses that sell commodity products like wheat, rice, and grain are often in a(n) __________ position with their competitors.

The most recent estimate indicates that the population of the world today is about __________.

The legal concept of 'let the buyer beware,' which was pervasive in the American business culture prior to the 1960s, is referred to as __________.

Ultimately, ethical choices are based on

The set of values, ideas, and attitudes that is learned and shared among the members of an organization is referred to as __________.

The Department of Labor monitors consumer expenditures through its annual __________.

Projections show that the population is __________.

In marketing, the form of competition that occurs when only one firm sells the product is referred to as __________.

All of the following statements about the environmental forces that have influenced Facebook are true EXCEPT:

Which of the following would be identified as a social force in an environmental scan?

In marketing, the effective rules of the game, the boundaries between competitive and unethical behavior, and the codes of conduct in business dealings are referred to as

When the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products, this marketing practice is referred to as

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of a(n) __________.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters