Question 1

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." B

Question 2

General Electric's "strategic planning grid" is an approach for:

Accepted Answer

A)  evaluating possible marketing objectives. 
B)  selecting target markets. 
C)  evaluating existing and possible plans. 
D)  developing new products. 
E)  developing marketing mixes. 
A)  evaluating possible marketing objectives. 
B)  selecting target markets. 
C)  evaluating existing and possible plans. 
D)  developing new products. 
E)  developing marketing mixes. C

Question 3

Organizational units within a larger company which focus their efforts on selected product-markets and are treated as separate profit centers are called:

Accepted Answer

A)  portfolios. 
B)  strategic business units. 
C)  BTUs. 
D)  functional departments. 
E)  basing points. 
A)  portfolios. 
B)  strategic business units. 
C)  BTUs. 
D)  functional departments. 
E)  basing points. B

Question 4

The Pure Food and Drug Act:

Accepted Answer

A)  was the first consumer protection law. 
B)  was passed by Congress in 1906. 
C)  shifted the focus from "let the buyer beware" to "let the seller beware." 
D)  bans the shipment of unsanitary products. 
E)  All of the above. 
A)  was the first consumer protection law. 
B)  was passed by Congress in 1906. 
C)  shifted the focus from "let the buyer beware" to "let the seller beware." 
D)  bans the shipment of unsanitary products. 
E)  All of the above.

Question 5

The languages people speak, the type of education they have, and their religious beliefs are examples of the

Accepted Answer

A)  political environment. 
B)  economic environment. 
C)  cultural and social environment. 
D)  legal environment. 
E)  technological environment. 
A)  political environment. 
B)  economic environment. 
C)  cultural and social environment. 
D)  legal environment. 
E)  technological environment.

Question 6

The
G.E. "stop-light" evaluation method is a very objective approach because
G.E. feels there are too many possible errors if it tries to use subjective criteria for judging "attractiveness" or "strength."

Accepted Answer

A) True 
 B)False

Question 7

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 8

The Clayton Act specifically aims at:

Accepted Answer

A)  tying contracts. 
B)  price discrimination by manufacturers. 
C)  exclusive dealing contracts limiting a buyer's sources of supply. 
D)  all of the above. 
E)  none of the above. 
A)  tying contracts. 
B)  price discrimination by manufacturers. 
C)  exclusive dealing contracts limiting a buyer's sources of supply. 
D)  all of the above. 
E)  none of the above.

Question 9

A firm may find itself in--or moving toward--pure competition because:

Accepted Answer

A)  customers see the firm's product as having close substitutes. 
B)  a firm with a unique product has no choice. 
C)  customers don't have much information about competing suppliers. 
D)  when the number of competitors is small, they usually make similar decisions. 
E)  None of the above. 
A)  customers see the firm's product as having close substitutes. 
B)  a firm with a unique product has no choice. 
C)  customers don't have much information about competing suppliers. 
D)  when the number of competitors is small, they usually make similar decisions. 
E)  None of the above.

Question 10

Compared to some countries in Latin America, the rate of inflation in the U.S. is low.

Accepted Answer

A) True 
 B)False

Question 11

In the short run at least, which of the following is usually beyond the control of the marketing manager?

Accepted Answer

A)  Political and legal environments. 
B)  Economic environment. 
C)  Cultural and social environment. 
D)  Competitive environment. 
E)  All of the above. 
A)  Political and legal environments. 
B)  Economic environment. 
C)  Cultural and social environment. 
D)  Competitive environment. 
E)  All of the above.

Question 12

Few people in Europe diet. So the same soft drink that PepsiCo sells in the U.S. under the brand name of "Diet Pepsi" is sold in England under the brand name of "Pepsi MAX." This is an example of which part of the external market environment?

Accepted Answer

A)  Competitive 
B)  Legal 
C)  Cultural and social 
D)  Political 
E)  Economic 
A)  Competitive 
B)  Legal 
C)  Cultural and social 
D)  Political 
E)  Economic

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Regarding the current legal environment facing U.S. marketing managers,

Accepted Answer

A)  state and local laws rarely are important because they are always less restrictive than federal laws. 
B)  the focus has shifted from "let the seller beware" to "let the buyer beware." 
C)  the emphasis is now on product innovation. 
D)  safety is now a big concern and must be considered in product design. 
E)  All of the above are true. 
A)  state and local laws rarely are important because they are always less restrictive than federal laws. 
B)  the focus has shifted from "let the seller beware" to "let the buyer beware." 
C)  the emphasis is now on product innovation. 
D)  safety is now a big concern and must be considered in product design. 
E)  All of the above are true.

Question 15

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, costs, and profits. 
C)  you can only use the ROI approach to compare plans that require the same investment. 
D)  All of the above are true. 
E)  None of the above 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, costs, and profits. 
C)  you can only use the ROI approach to compare plans that require the same investment. 
D)  All of the above are true. 
E)  None of the above is true.

Question 16

Women's changing role has created opportunities for marketing but also complications.

Accepted Answer

A) True 
 B)False

Question 17

Marketers should be aware of federal legislation, as well as state and local laws, when planning marketing strategy.

Accepted Answer

A) True 
 B)False

Question 18

The largest producer of "fuzz-busters" (radar detectors) sees that many states are increasing the penalty for using them. Clearly, this firm's marketing strategy may have to change in response to these changes in the

Accepted Answer

A)  economic and technological environment. 
B)  resources and objectives of the firm. 
C)  competitive environment. 
D)  political and legal environment. 
E)  cultural and social environment. 
A)  economic and technological environment. 
B)  resources and objectives of the firm. 
C)  competitive environment. 
D)  political and legal environment. 
E)  cultural and social environment.

Question 19

The marketing manager can control the variables in the market environment.

Accepted Answer

A) True 
 B)False

Question 20

When looking for attractive opportunities, a marketing manager should consider:

Accepted Answer

A)  the firm's producing capability and flexibility. 
B)  the firm's financial strength. 
C)  whether the firm has good relations with established intermediaries. 
D)  the firm's marketing strengths. 
E)  All of the above. 
A)  the firm's producing capability and flexibility. 
B)  the firm's financial strength. 
C)  whether the firm has good relations with established intermediaries. 
D)  the firm's marketing strengths. 
E)  All of the above.

Exam 3: Evaluating Opportunities in the Changing Marketing Environment

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

General Electric's "strategic planning grid" is an approach for:

Organizational units within a larger company which focus their efforts on selected product-markets and are treated as separate profit centers are called:

The Pure Food and Drug Act:

The languages people speak, the type of education they have, and their religious beliefs are examples of the

The G.E. "stop-light" evaluation method is a very objective approach because G.E. feels there are too many possible errors if it tries to use subjective criteria for judging "attractiveness" or "strength."

Regarding the competitive environment, a marketing manager usually can:

The Clayton Act specifically aims at:

A firm may find itself in--or moving toward--pure competition because:

Compared to some countries in Latin America, the rate of inflation in the U.S. is low.

In the short run at least, which of the following is usually beyond the control of the marketing manager?

Few people in Europe diet. So the same soft drink that PepsiCo sells in the U.S. under the brand name of "Diet Pepsi" is sold in England under the brand name of "Pepsi MAX." This is an example of which part of the external market environment?

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

Regarding the current legal environment facing U.S. marketing managers,

When selecting among possible product-market strategic plans,

Women's changing role has created opportunities for marketing but also complications.

Marketers should be aware of federal legislation, as well as state and local laws, when planning marketing strategy.

The largest producer of "fuzz-busters" (radar detectors) sees that many states are increasing the penalty for using them. Clearly, this firm's marketing strategy may have to change in response to these changes in the

The marketing manager can control the variables in the market environment.

When looking for attractive opportunities, a marketing manager should consider:

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Focusing Marketing Strategy With Segmentation and Positioning

Demographic Dimensions of Global Consumer Markets

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, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters