Question 1

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 these are useful when setting objectives. 
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 these are useful when setting objectives.

Question 2

One way marketers can screen for opportunities that are good for society is to screen based on the criteria of:

Accepted Answer

A)  growth. 
B)  profitability. 
C)  sustainability. 
D)  return on investment. 
E)  business strengths. 
A)  growth. 
B)  profitability. 
C)  sustainability. 
D)  return on investment. 
E)  business strengths.

Question 3

American economic and legislative thinking is based on the idea that

Accepted Answer

A)  encouraging competition harms public interest. 
B)  competition among many small firms helps the economy. 
C)  attempts by business to limit competition aids large firms during recessions. 
D)  the economic environment provides a base for the technological environment. 
E)  laws should protect companies and not consumers. 
A)  encouraging competition harms public interest. 
B)  competition among many small firms helps the economy. 
C)  attempts by business to limit competition aids large firms during recessions. 
D)  the economic environment provides a base for the technological environment. 
E)  laws should protect companies and not consumers.

Question 4

Which of the following countries have the HIGHEST GNI PER CAPITA?

Accepted Answer

A)  Saudi Arabia and Iran 
B)  Mexico and Spain 
C)  United States and Switzerland 
D)  India and China 
E)  Japan and Germany 
A)  Saudi Arabia and Iran 
B)  Mexico and Spain 
C)  United States and Switzerland 
D)  India and China 
E)  Japan and Germany

Question 5

A firm that is unable to obtain financing to manufacture new products is likely encountering negative pressures from:

Accepted Answer

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

Question 6

Generation Y refers to:

Accepted Answer

A)  those born from 1978-1994. 
B)  those born since 1994. 
C)  those born from 1965-1997. 
D)  those born from 1945-1964. 
E)  those born before 1945. 
A)  those born from 1978-1994. 
B)  those born since 1994. 
C)  those born from 1965-1997. 
D)  those born from 1945-1964. 
E)  those born before 1945.

Question 7

Gross domestic product includes foreign income earned in a country.

Accepted Answer

A) True 
 B)False

Question 8

In the political environment, an emphasis on a single country's interests before everything else is called:

Accepted Answer

A)  Elitism. 
B)  Socialism. 
C)  Extremism. 
D)  Regionalism. 
E)  Nationalism. 
A)  Elitism. 
B)  Socialism. 
C)  Extremism. 
D)  Regionalism. 
E)  Nationalism.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Trying to maximize short-run return on investment may not be compatible with a company's other objectives.

Accepted Answer

A) True 
 B)False

Question 11

The different rates of population growth are important to marketers for all of the following reasons except

Accepted Answer

A)  sudden growth in one area may create a demand for many new shopping centers. 
B)  retailers in growing areas face tougher competition for a smaller number of customers. 
C)  marketers always look for fast-growing markets. 
D)  in growing areas, demand may increase so rapidly that profits may be good even in poorly planned facilities. 
A)  sudden growth in one area may create a demand for many new shopping centers. 
B)  retailers in growing areas face tougher competition for a smaller number of customers. 
C)  marketers always look for fast-growing markets. 
D)  in growing areas, demand may increase so rapidly that profits may be good even in poorly planned facilities.

Question 12

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 these environments are beyond the control of the marketing manager in the short run. 
A)  Political and legal environments. 
B)  Economic environment. 
C)  Cultural and social environment. 
D)  Competitive environment. 
E)  All of these environments are beyond the control of the marketing manager in the short run.

Question 13

A widely used measure of income in most countries is:

Accepted Answer

A)  gross national income. 
B)  total consumption expenditures. 
C)  disposable personal product. 
D)  population times GNI. 
E)  socio-economic product. 
A)  gross national income. 
B)  total consumption expenditures. 
C)  disposable personal product. 
D)  population times GNI. 
E)  socio-economic product.

Question 14

____ refers to market situation where one firm completely controls a broad product-market.

Accepted Answer

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

Question 15

In which of the external environments changes usually occur most slowly?

Accepted Answer

A)  Cultural and social environment 
B)  Political and legal environments 
C)  Resources and objectives of the firm 
D)  Competitive environment 
E)  Economic and technological environments 
A)  Cultural and social environment 
B)  Political and legal environments 
C)  Resources and objectives of the firm 
D)  Competitive environment 
E)  Economic and technological environments

Question 16

The Clayton Act deals with tying contracts, exclusive dealing contracts, and price-fixing conspiracies.

Accepted Answer

A) True 
 B)False

Question 17

Gross domestic product:

Accepted Answer

A)  is the total market value of goods, but not services, produced in a year. 
B)  is an excellent basis for comparing consumer well-being across different cultures and economies. 
C)  is a widely used measure of income for different countries. 
D)  is the total market value of services, but not goods, produced in a year. 
E)  All of these alternatives are true. 
A)  is the total market value of goods, but not services, produced in a year. 
B)  is an excellent basis for comparing consumer well-being across different cultures and economies. 
C)  is a widely used measure of income for different countries. 
D)  is the total market value of services, but not goods, produced in a year. 
E)  All of these alternatives are true.

Question 18

The median age in the United States increased from 30 in 1980 to 37 in 2010.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following would help prevent marketing mistakes in evaluating international market opportunities?

Accepted Answer

A)  Assume that all cultures around the world are the same. 
B)  Do not "think locally." 
C)  Use machine translators. 
D)  Include local citizens in the evaluation process. 
E)  Save money by cutting research into foreign markets. 
A)  Assume that all cultures around the world are the same. 
B)  Do not "think locally." 
C)  Use machine translators. 
D)  Include local citizens in the evaluation process. 
E)  Save money by cutting research into foreign markets.

Question 20

The economic environment:

Accepted Answer

A)  Has no relationship to the technological environment. 
B)  Is not affected by the way all of the parts of the macro-marketing system interact. 
C)  Is the same from country to country. 
D)  Can change very rapidly. 
E)  Never requires marketing managers to make immediate changes in strategy. 
A)  Has no relationship to the technological environment. 
B)  Is not affected by the way all of the parts of the macro-marketing system interact. 
C)  Is the same from country to country. 
D)  Can change very rapidly. 
E)  Never requires marketing managers to make immediate changes in strategy.

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

One way marketers can screen for opportunities that are good for society is to screen based on the criteria of:

American economic and legislative thinking is based on the idea that

Which of the following countries have the HIGHEST GNI PER CAPITA?

A firm that is unable to obtain financing to manufacture new products is likely encountering negative pressures from:

Generation Y refers to:

Gross domestic product includes foreign income earned in a country.

In the political environment, an emphasis on a single country's interests before everything else is called:

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

Trying to maximize short-run return on investment may not be compatible with a company's other objectives.

The different rates of population growth are important to marketers for all of the following reasons except

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

A widely used measure of income in most countries is:

____ refers to market situation where one firm completely controls a broad product-market.

In which of the external environments changes usually occur most slowly?

The Clayton Act deals with tying contracts, exclusive dealing contracts, and price-fixing conspiracies.

Gross domestic product:

The median age in the United States increased from 30 in 1980 to 37 in 2010.

Which of the following would help prevent marketing mistakes in evaluating international market opportunities?

The economic environment:

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

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

One way marketers can screen for opportunities that are good for society is to screen based on the criteria of:

American economic and legislative thinking is based on the idea that

Which of the following countries have the HIGHEST GNI PER CAPITA?

A firm that is unable to obtain financing to manufacture new products is likely encountering negative pressures from:

Generation Y refers to:

Gross domestic product includes foreign income earned in a country.

In the political environment, an emphasis on a single country's interests before everything else is called:

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

Trying to maximize short-run return on investment may not be compatible with a company's other objectives.

The different rates of population growth are important to marketers for all of the following reasons except

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

A widely used measure of income in most countries is:

____ refers to market situation where one firm completely controls a broad product-market.

In which of the external environments changes usually occur most slowly?

The Clayton Act deals with tying contracts, exclusive dealing contracts, and price-fixing conspiracies.

Gross domestic product:

The median age in the United States increased from 30 in 1980 to 37 in 2010.

Which of the following would help prevent marketing mistakes in evaluating international market opportunities?

The economic environment:

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