Question 1

The Internet changes how consumers shop and marketers market.

Accepted Answer

A) True 
 B)False

Question 2

Of the following, the last objectives that a firm should specify are its

Accepted Answer

A)  company objectives. 
B)  marketing objectives. 
C)  promotion objectives. 
D)  advertising objectives. 
E)  price objectives. 
A)  company objectives. 
B)  marketing objectives. 
C)  promotion objectives. 
D)  advertising objectives. 
E)  price objectives.

Question 3

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 4

According to projections, the population of _____ is likely to grow by 15 percent between 2010 and 2025.

Accepted Answer

A)  Japan 
B)  Russia 
C)  United States 
D)  China 
E)  Egypt 
A)  Japan 
B)  Russia 
C)  United States 
D)  China 
E)  Egypt

Question 5

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "high" in terms of business strengths would be evaluated as:

Accepted Answer

A)  yellow-borderline. 
B)  red-for no growth. 
C)  green-for growth. 
D)  could be yellow, red, or green-because the grid suggests that opportunities with medium ratings need more analysis. 
A)  yellow-borderline. 
B)  red-for no growth. 
C)  green-for growth. 
D)  could be yellow, red, or green-because the grid suggests that opportunities with medium ratings need more analysis.

Question 6

The Sherman Act and the Federal Trade Commission Act:

Accepted Answer

A)  were passed to make it difficult for small companies to win customers away from large companies. 
B)  are not taken seriously, since there are no penalties for violations. 
C)  are quite different, with the FTC Act focusing on stopping deceptive business practices and the Sherman Act focusing on controlling monopolies. 
D)  are just different names for the same thing-a law proposed by Sherman to establish the Federal Trade Commission. 
E)  were passed to protect consumers from abuses by business, rather than to protect some businesses from others who had an "unfair" advantage. 
A)  were passed to make it difficult for small companies to win customers away from large companies. 
B)  are not taken seriously, since there are no penalties for violations. 
C)  are quite different, with the FTC Act focusing on stopping deceptive business practices and the Sherman Act focusing on controlling monopolies. 
D)  are just different names for the same thing-a law proposed by Sherman to establish the Federal Trade Commission. 
E)  were passed to protect consumers from abuses by business, rather than to protect some businesses from others who had an "unfair" advantage.

Question 7

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 8

Smaller producers always have a great advantage in competing with larger producers because of their flexibility.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following statements about the competitive environment is FALSE?

Accepted Answer

A)  Competition-free environments are rare. 
B)  Marketing managers should choose strategies that avoid head-on competition. 
C)  A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage. 
D)  Over the long run, most product-markets tend toward monopolistic competition. 
E)  In a competitor analysis, the firm's first step should be to identify all potential competitors. 
A)  Competition-free environments are rare. 
B)  Marketing managers should choose strategies that avoid head-on competition. 
C)  A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage. 
D)  Over the long run, most product-markets tend toward monopolistic competition. 
E)  In a competitor analysis, the firm's first step should be to identify all potential competitors.

Question 10

Most product-markets head toward ______ over the long run.

Accepted Answer

A)  pure competition 
B)  monopolistic competition 
C)  capitalistic competition 
D)  monopoly 
E)  collectivism 
A)  pure competition 
B)  monopolistic competition 
C)  capitalistic competition 
D)  monopoly 
E)  collectivism

Question 11

Seniors and baby boomers are among the fastest-growing demographic groups on Facebook. Marketers need to study such trends because:

Accepted Answer

A)  people in this demographic are known for being techno-savvy. 
B)  baby boomers typically have little money to spend. 
C)  very large numbers of people make up this demographic. 
D)  online ads are most effective when seen by people of all ages. 
E)  seniors have played a major role in the social media revolution. 
A)  people in this demographic are known for being techno-savvy. 
B)  baby boomers typically have little money to spend. 
C)  very large numbers of people make up this demographic. 
D)  online ads are most effective when seen by people of all ages. 
E)  seniors have played a major role in the social media revolution.

Question 12

Regarding gross domestic product (GDP) and gross national income (GNI):

Accepted Answer

A)  GDP income measures can give the impression that people in less-developed nations have more income than they really do. 
B)  GDP includes foreign income earned in a country, but GNI does not. 
C)  Both GDP and GNI are widely used measures of national income. 
D)  GDP and GNI are highest in the more developed industrial nations. 
E)  All of these alternatives are true. 
A)  GDP income measures can give the impression that people in less-developed nations have more income than they really do. 
B)  GDP includes foreign income earned in a country, but GNI does not. 
C)  Both GDP and GNI are widely used measures of national income. 
D)  GDP and GNI are highest in the more developed industrial nations. 
E)  All of these alternatives are true.

Question 13

The Internet is a powerful way to get information about competitors.

Accepted Answer

A) True 
 B)False

Question 14

Product warranties are the focus of the ______________ Act.

Accepted Answer

A)  Lemon 
B)  Magnuson-Moss 
C)  Sherman 
D)  Federal Trade Commission 
E)  Robinson-Patman 
A)  Lemon 
B)  Magnuson-Moss 
C)  Sherman 
D)  Federal Trade Commission 
E)  Robinson-Patman

Question 15

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.

Question 16

GDP income measures can give the impression that people in less-developed nations have more income than they really do.

Accepted Answer

A) True 
 B)False

Question 17

GE's strategic planning grid considers two dimensions-industry attractiveness and business strengths-to identify opportunities that may be growth, borderline, or no growth.

Accepted Answer

A) True 
 B)False

Question 18

A marketer considering a business opportunity in the U.S. health care market must first evaluate new rules and regulations originating from:

Accepted Answer

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

The Internet changes how consumers shop and marketers market.

Of the following, the last objectives that a firm should specify are its

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

According to projections, the population of _____ is likely to grow by 15 percent between 2010 and 2025.

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "high" in terms of business strengths would be evaluated as:

The Sherman Act and the Federal Trade Commission Act:

Gross domestic product (GDP):

Smaller producers always have a great advantage in competing with larger producers because of their flexibility.

Which of the following statements about the competitive environment is FALSE?

Most product-markets head toward ______ over the long run.

Seniors and baby boomers are among the fastest-growing demographic groups on Facebook. Marketers need to study such trends because:

Regarding gross domestic product (GDP) and gross national income (GNI):

The Internet is a powerful way to get information about competitors.

Product warranties are the focus of the ______________ Act.

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

GDP income measures can give the impression that people in less-developed nations have more income than they really do.

GE's strategic planning grid considers two dimensions-industry attractiveness and business strengths-to identify opportunities that may be growth, borderline, or no growth.

A marketer considering a business opportunity in the U.S. health care market must first evaluate new rules and regulations originating from:

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

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

Promotionintroduction 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

Filters

Exam 3: Evaluating Opportunities in the Changing Marketing Environment

The Internet changes how consumers shop and marketers market.

Of the following, the last objectives that a firm should specify are its

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

According to projections, the population of _____ is likely to grow by 15 percent between 2010 and 2025.

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "high" in terms of business strengths would be evaluated as:

The Sherman Act and the Federal Trade Commission Act:

Gross domestic product (GDP):

Smaller producers always have a great advantage in competing with larger producers because of their flexibility.

Which of the following statements about the competitive environment is FALSE?

Most product-markets head toward ______ over the long run.

Seniors and baby boomers are among the fastest-growing demographic groups on Facebook. Marketers need to study such trends because:

Regarding gross domestic product (GDP) and gross national income (GNI):

The Internet is a powerful way to get information about competitors.

Product warranties are the focus of the ______________ Act.

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

GDP income measures can give the impression that people in less-developed nations have more income than they really do.

GE's strategic planning grid considers two dimensions-industry attractiveness and business strengths-to identify opportunities that may be growth, borderline, or no growth.

A marketer considering a business opportunity in the U.S. health care market must first evaluate new rules and regulations originating from:

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

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

Promotionintroduction 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

Filters