Question 1

Nationalism--or the emphasis on a country's interests before anything else--may affect the work of some marketing managers.

Accepted Answer

A) True 
 B)False

Question 2

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 3

The _____ environment sets the basic rules for how a business can operate in society.

Accepted Answer

A)  legal 
B)  social 
C)  economic 
D)  technical 
E)  cultural 
A)  legal 
B)  social 
C)  economic 
D)  technical 
E)  cultural

Question 4

Swanson Beverages, Inc., is using ______________ 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).

Accepted Answer

A)  clustering 
B)  scenario analysis 
C)  brand positioning 
D)  marketing mix review 
E)  competitor analysis 
A)  clustering 
B)  scenario analysis 
C)  brand positioning 
D)  marketing mix review 
E)  competitor analysis

Question 5

Opportunities which fall into the red boxes in the General Electric "strategic planning grid" are growth opportunities.

Accepted Answer

A) True 
 B)False

Question 6

Regional groupings of nations outside the United States have little effect on the decisions of marketing managers whose firms are headquartered in the U.S.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is NOT an example of how the technological environment might affect marketing management?

Accepted Answer

A)  A manufacturer uses a computer to send orders directly to a supplier's computer. 
B)  A retailer installs a computerized checkout scanner to replace a manual cash register system. 
C)  A firm develops a substitute for saturated fat in manufactured foods. 
D)  All of the above are examples. 
E)  None of the above is an example. 
A)  A manufacturer uses a computer to send orders directly to a supplier's computer. 
B)  A retailer installs a computerized checkout scanner to replace a manual cash register system. 
C)  A firm develops a substitute for saturated fat in manufactured foods. 
D)  All of the above are examples. 
E)  None of the above is an example.

Question 8

When the dollar is strong in international exchange, it is easier to sell U.S. products in overseas markets.

Accepted Answer

A) True 
 B)False

Question 9

Technology is the application of science to convert an economy's resources to output.

Accepted Answer

A) True 
 B)False

Question 10

The economic environment

Accepted Answer

A)  of an individual country has little effect on other countries. 
B)  refers to the application of science to convert resources to output. 
C)  includes changes in interest rates and inflation. 
D)  has little impact on an organization's marketing strategy. 
E)  does not change rapidly. 
A)  of an individual country has little effect on other countries. 
B)  refers to the application of science to convert resources to output. 
C)  includes changes in interest rates and inflation. 
D)  has little impact on an organization's marketing strategy. 
E)  does not change rapidly.

Question 11

Attractive opportunities should make use of a firm's resources and its unique strengths.

Accepted Answer

A) True 
 B)False

Question 12

A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.

Accepted Answer

A) True 
 B)False

Question 13

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 14

Screening criteria should be in quantitative form--based on factors such as profit and expected sales--so that they are objective and not subject to qualitative judgments and interpretations by different managers.

Accepted Answer

A) True 
 B)False

Question 15

The _____ refers to how much one country's money is worth in another country's money.

Accepted Answer

A)  monetary value 
B)  exchange rate 
C)  dollar value 
D)  net worth 
E)  purchasing power 
A)  monetary value 
B)  exchange rate 
C)  dollar value 
D)  net worth 
E)  purchasing power

Question 16

In a competitor analysis, a current (or planned) target market and marketing mix is compared with what competitors are currently doing (or are likely to do).

Accepted Answer

A) True 
 B)False

Question 17

When setting objectives for the whole firm, TOP MANAGEMENT should:

Accepted Answer

A)  involve the marketing manager in the objective setting process. 
B)  set objectives that focus on the highest possible immediate profit potential. 
C)  stick to general objectives--in order to maintain flexibility. 
D)  set objectives beyond what can actually be achieved--so everyone will work harder. 
E)  all of the above. 
A)  involve the marketing manager in the objective setting process. 
B)  set objectives that focus on the highest possible immediate profit potential. 
C)  stick to general objectives--in order to maintain flexibility. 
D)  set objectives beyond what can actually be achieved--so everyone will work harder. 
E)  all of the above.

Question 18

Business and individual managers are subject to both criminal and civil laws.

Accepted Answer

A) True 
 B)False

Question 19

In market-directed economies, unregulated monopolies are rare.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not a basic kind of market (competitive) situation?

Accepted Answer

A)  Pure competition 
B)  Oligopoly 
C)  Capitalistic competition 
D)  Monopolistic competition 
E)  Monopoly 
A)  Pure competition 
B)  Oligopoly 
C)  Capitalistic competition 
D)  Monopolistic competition 
E)  Monopoly

Exam 3: Evaluating Opportunities in the Changing Marketing Environment

Nationalism--or the emphasis on a country's interests before anything else--may affect the work of some marketing managers.

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

The _____ environment sets the basic rules for how a business can operate in society.

Swanson Beverages, Inc., is using ______________ 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).

Opportunities which fall into the red boxes in the General Electric "strategic planning grid" are growth opportunities.

Regional groupings of nations outside the United States have little effect on the decisions of marketing managers whose firms are headquartered in the U.S.

Which of the following is NOT an example of how the technological environment might affect marketing management?

When the dollar is strong in international exchange, it is easier to sell U.S. products in overseas markets.

Technology is the application of science to convert an economy's resources to output.

The economic environment

Attractive opportunities should make use of a firm's resources and its unique strengths.

A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.

American legislative and economic thinking assumes that:

Screening criteria should be in quantitative form--based on factors such as profit and expected sales--so that they are objective and not subject to qualitative judgments and interpretations by different managers.

The _____ refers to how much one country's money is worth in another country's money.

In a competitor analysis, a current (or planned) target market and marketing mix is compared with what competitors are currently doing (or are likely to do).

When setting objectives for the whole firm, TOP MANAGEMENT should:

Business and individual managers are subject to both criminal and civil laws.

In market-directed economies, unregulated monopolies are rare.

Which of the following is not a basic kind of market (competitive) situation?

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

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