Question 1

The U.S. does not have the largest population of any country in the world, but it does have the largest population growth rate.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following social and cultural factors would be of greatest interest to a mass transit company?

Accepted Answer

A)  The role of women in society 
B)  Population shift to urban areas 
C)  Growing incomes among consumers 
D)  Technology usage among baby boomers 
E)  Generational preferences for healthy foods 
A)  The role of women in society 
B)  Population shift to urban areas 
C)  Growing incomes among consumers 
D)  Technology usage among baby boomers 
E)  Generational preferences for healthy foods

Question 3

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 4

Competitive barriers are conditions that make it difficult for a firm to compete in a market.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is least likely a result of shifts in the cultural and social environment?

Accepted Answer

A)  Domino's Pizza finds that demand for pizza delivered at home has expanded as more consumers are willing to pay for more convenience. 
B)  A toy manufacturer recalls a playpen with a defective latch and Toys 'R' Us stores remove them from the shelf. 
C)  Haagen-Dazs introduces a nonfat yogurt that is also "low cal." 
D)  Sony recruits more women graduates for sales management positions. 
E)  BMW builds its new plant in South Carolina because of the willingness of "Sun Belt" workers to put in a "full day's work." 
A)  Domino's Pizza finds that demand for pizza delivered at home has expanded as more consumers are willing to pay for more convenience. 
B)  A toy manufacturer recalls a playpen with a defective latch and Toys 'R' Us stores remove them from the shelf. 
C)  Haagen-Dazs introduces a nonfat yogurt that is also "low cal." 
D)  Sony recruits more women graduates for sales management positions. 
E)  BMW builds its new plant in South Carolina because of the willingness of "Sun Belt" workers to put in a "full day's work."

Question 6

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

Accepted Answer

A)  state and local laws vary but contain important regulations. 
B)  food and drugs are now controlled. 
C)  product safety is now controlled. 
D)  businesses and individual managers are subject to both criminal and civil laws. 
E)  All of these statements about the legal environment are correct. 
A)  state and local laws vary but contain important regulations. 
B)  food and drugs are now controlled. 
C)  product safety is now controlled. 
D)  businesses and individual managers are subject to both criminal and civil laws. 
E)  All of these statements about the legal environment are correct.

Question 7

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

Accepted Answer

A) True 
 B)False

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

Using the General Electric strategic planning grid, an opportunity rated "medium" in terms of both industry attractiveness and business strengths is an opportunity that the firm should always avoid.

Accepted Answer

A) True 
 B)False

Question 10

If the cost of production per unit goes down as the quantity produced increases, small producers can be at a great cost disadvantage.

Accepted Answer

A) True 
 B)False

Question 11

Countries where gross national income (GNI) per capita is low do not offer any opportunities for marketers.

Accepted Answer

A) True 
 B)False

Question 12

The Sherman Act and the Clayton Act:

Accepted Answer

A)  were intended to protect small producers. 
B)  were aimed at efforts to restrain trade or lessen competition. 
C)  were passed before the Depression of the 1930s. 
D)  All of these are correct. 
A)  were intended to protect small producers. 
B)  were aimed at efforts to restrain trade or lessen competition. 
C)  were passed before the Depression of the 1930s. 
D)  All of these are correct.

Question 13

Which of the following U.S. marketing managers is about to make a serious mistake?

Accepted Answer

A)  "We are targeting 50-59 year olds because we see this group as the fastest growing age group over the next decade." 
B)  "We are refocusing on senior citizens, since they will be a growing market for many years." 
C)  "We are developing special swimsuit designs for older women as that market is very large and growing." 
D)  "Our company is shifting to international markets, where the population will continue to grow at a more rapid rate." 
E)  None of these marketing managers seems headed for a mistake. 
A)  "We are targeting 50-59 year olds because we see this group as the fastest growing age group over the next decade." 
B)  "We are refocusing on senior citizens, since they will be a growing market for many years." 
C)  "We are developing special swimsuit designs for older women as that market is very large and growing." 
D)  "Our company is shifting to international markets, where the population will continue to grow at a more rapid rate." 
E)  None of these marketing managers seems headed for a mistake.

Question 14

Most industrial products tend to be near the "insensitive" end of the continuum of environmental sensitivity.

Accepted Answer

A) True 
 B)False

Question 15

Since IKEA is known for fashionable modern-style home furnishings, the company would be likely to screen out business opportunities in:

Accepted Answer

A)  kitchenwares. 
B)  antique furniture reproductions. 
C)  bed and bath. 
D)  rugs. 
E)  interior lighting. 
A)  kitchenwares. 
B)  antique furniture reproductions. 
C)  bed and bath. 
D)  rugs. 
E)  interior lighting.

Question 16

Technological advances like the World Wide Web and the Internet are leading to big advances in business.

Accepted Answer

A) True 
 B)False

Question 17

Competitive rivals are always easy to identify.

Accepted Answer

A) True 
 B)False

Question 18

Overall company objectives should:

Accepted Answer

A)  be specific. 
B)  focus on returning some profit to the business. 
C)  be realistic and achievable. 
D)  be compatible with one another. 
E)  All of these are correct. 
A)  be specific. 
B)  focus on returning some profit to the business. 
C)  be realistic and achievable. 
D)  be compatible with one another. 
E)  All of these are correct.

Question 19

A useful tool for organizing the competitor analysis is:

Accepted Answer

A)  the table of competitive rivals. 
B)  rivals chart. 
C)  the oligopoly chart. 
D)  a competitor matrix. 
E)  the competitive summary. 
A)  the table of competitive rivals. 
B)  rivals chart. 
C)  the oligopoly chart. 
D)  a competitor matrix. 
E)  the competitive summary.

Question 20

Gross national income (GNI) is the:

Accepted Answer

A)  total market value of goods and services provided in an economy in a year by residents of that country. 
B)  manufacturers' selling price of goods (but not services) produced in a year. 
C)  total market value of goods (but not services) produced in an economy in a year. 
D)  total market value of goods and services consumed in a year. 
E)  None of these definitions of GNI is correct. 
A)  total market value of goods and services provided in an economy in a year by residents of that country. 
B)  manufacturers' selling price of goods (but not services) produced in a year. 
C)  total market value of goods (but not services) produced in an economy in a year. 
D)  total market value of goods and services consumed in a year. 
E)  None of these definitions of GNI is correct.

The U.S. does not have the largest population of any country in the world, but it does have the largest population growth rate.

Which of the following social and cultural factors would be of greatest interest to a mass transit company?

The economic environment

Competitive barriers are conditions that make it difficult for a firm to compete in a market.

Which of the following is least likely a result of shifts in the cultural and social environment?

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

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

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

Using the General Electric strategic planning grid, an opportunity rated "medium" in terms of both industry attractiveness and business strengths is an opportunity that the firm should always avoid.

If the cost of production per unit goes down as the quantity produced increases, small producers can be at a great cost disadvantage.

Countries where gross national income (GNI) per capita is low do not offer any opportunities for marketers.

The Sherman Act and the Clayton Act:

Which of the following U.S. marketing managers is about to make a serious mistake?

Most industrial products tend to be near the "insensitive" end of the continuum of environmental sensitivity.

Since IKEA is known for fashionable modern-style home furnishings, the company would be likely to screen out business opportunities in:

Technological advances like the World Wide Web and the Internet are leading to big advances in business.

Competitive rivals are always easy to identify.

Overall company objectives should:

A useful tool for organizing the competitor analysis is:

Gross national income (GNI) is the:

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 U.S. does not have the largest population of any country in the world, but it does have the largest population growth rate.

Which of the following social and cultural factors would be of greatest interest to a mass transit company?

The economic environment

Competitive barriers are conditions that make it difficult for a firm to compete in a market.

Which of the following is least likely a result of shifts in the cultural and social environment?

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

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

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

Using the General Electric strategic planning grid, an opportunity rated "medium" in terms of both industry attractiveness and business strengths is an opportunity that the firm should always avoid.

If the cost of production per unit goes down as the quantity produced increases, small producers can be at a great cost disadvantage.

Countries where gross national income (GNI) per capita is low do not offer any opportunities for marketers.

The Sherman Act and the Clayton Act:

Which of the following U.S. marketing managers is about to make a serious mistake?

Most industrial products tend to be near the "insensitive" end of the continuum of environmental sensitivity.

Since IKEA is known for fashionable modern-style home furnishings, the company would be likely to screen out business opportunities in:

Technological advances like the World Wide Web and the Internet are leading to big advances in business.

Competitive rivals are always easy to identify.

Overall company objectives should:

A useful tool for organizing the competitor analysis is:

Gross national income (GNI) is the:

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