Question 1

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

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

Interest rates

Accepted Answer

A)  often change with changes in the economy. 
B)  affect consumer markets, but not business customers. 
C)  usually decrease during periods of inflation. 
D)  do not directly affect the total price borrowers must pay for loans. 
E)  don't affect the prices buyers pay. 
A)  often change with changes in the economy. 
B)  affect consumer markets, but not business customers. 
C)  usually decrease during periods of inflation. 
D)  do not directly affect the total price borrowers must pay for loans. 
E)  don't affect the prices buyers pay.

Question 4

Spying on competitors to obtain trade secrets, raises moral issues but is not illegal.

Accepted Answer

A) True 
 B)False

Question 5

The basic objective of a firm should be to:

Accepted Answer

A)  engage in some specific business activity that will perform a socially and economically useful function. 
B)  develop an organization to carry on the business and implement its strategies. 
C)  earn enough profit to survive. 
D)  All of these are basic objectives of a firm. 
A)  engage in some specific business activity that will perform a socially and economically useful function. 
B)  develop an organization to carry on the business and implement its strategies. 
C)  earn enough profit to survive. 
D)  All of these are basic objectives of a firm.

Question 6

The Clayton Act focuses on practices which may substantially lessen competition-such as tying contracts, exclusive dealing contracts and price discrimination by manufacturers.

Accepted Answer

A) True 
 B)False

Question 7

Because the Consumer Product Safety Commission has no power to force a product off the market, safety is not a very important consideration in product design.

Accepted Answer

A) True 
 B)False

Question 8

As of 2009, which of the following countries does not have more than 80% of its population using the Internet?

Accepted Answer

A)  Norway 
B)  Australia 
C)  United States 
D)  Finland 
E)  All of these countries have more than 80% of its population using the Internet 
A)  Norway 
B)  Australia 
C)  United States 
D)  Finland 
E)  All of these countries have more than 80% of its population using the Internet

Question 9

Which of the following statements about world population trends is true?

Accepted Answer

A)  In general, countries that have higher stages of development experience faster rates of growth than less-developed countries. 
B)  The extent to which a country's population is clustered around urban areas does not vary much from country to country. 
C)  People are moving from rural areas into urban areas. 
D)  The trend toward urbanization has made companies less interested in international markets. 
E)  All of these statements about world population trends are true. 
A)  In general, countries that have higher stages of development experience faster rates of growth than less-developed countries. 
B)  The extent to which a country's population is clustered around urban areas does not vary much from country to country. 
C)  People are moving from rural areas into urban areas. 
D)  The trend toward urbanization has made companies less interested in international markets. 
E)  All of these statements about world population trends are true.

Question 10

The "continuum of environmental sensitivity" suggests that:

Accepted Answer

A)  some products are more adaptable to international markets than others. 
B)  it is extremely risky to sell basic commodities in international markets. 
C)  industrial products need to be adapted more than consumer products for international markets. 
D)  All of these statements about the continuum of environmental sensitivity are true. 
A)  some products are more adaptable to international markets than others. 
B)  it is extremely risky to sell basic commodities in international markets. 
C)  industrial products need to be adapted more than consumer products for international markets. 
D)  All of these statements about the continuum of environmental sensitivity are true.

Question 11

The Wheeler-Lea Amendment specifically aims at:

Accepted Answer

A)  product warranties. 
B)  product safety. 
C)  unfair or deceptive practices. 
D)  tying and exclusive dealing contracts. 
E)  mergers and acquisitions. 
A)  product warranties. 
B)  product safety. 
C)  unfair or deceptive practices. 
D)  tying and exclusive dealing contracts. 
E)  mergers and acquisitions.

Question 12

A firm may find that both the competitive and economic environments are better in a foreign market than in its domestic market.

Accepted Answer

A) True 
 B)False

Question 13

Gross domestic product (GDP) is the:

Accepted Answer

A)  total market value of goods and services provided in an economy in a year by both residents and nonresidents 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 GDP is correct. 
A)  total market value of goods and services provided in an economy in a year by both residents and nonresidents 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 GDP is correct.

Question 14

Ownership of patents, a familiar brand name, and financial strength are some of the many resources of a firm that a manager should evaluate when searching for new opportunities.

Accepted Answer

A) True 
 B)False

Question 15

In international markets marketing managers usually have an easier time understanding the variables in the market environment.

Accepted Answer

A) True 
 B)False

Question 16

____ refers to the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country.

Accepted Answer

A)  Gross output 
B)  Gross investment 
C)  Gross national income 
D)  Gross fixed capital formation 
E)  Gross domestic product 
A)  Gross output 
B)  Gross investment 
C)  Gross national income 
D)  Gross fixed capital formation 
E)  Gross domestic product

Question 17

Changes in the cultural and social environment tend to come about quickly.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not a part of the direct market environment for Starbucks?

Accepted Answer

A)  McDonald's and its coffee. 
B)  Starbucks objective to open 50 new stores in the United States in 2014. 
C)  Rising interest rates worldwide. 
D)  High awareness of Starbucks brand name. 
E)  Growing interest in brewed cacao a prospective competitor for coffee. 
A)  McDonald's and its coffee. 
B)  Starbucks objective to open 50 new stores in the United States in 2014. 
C)  Rising interest rates worldwide. 
D)  High awareness of Starbucks brand name. 
E)  Growing interest in brewed cacao a prospective competitor for coffee.

Question 19

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 20

According to the General Electric strategic planning grid, an opportunity which is low on the "business strengths" dimension but high on the "industry attractiveness" should be:

Accepted Answer

A)  called a strategic business unit. 
B)  supported if it is an existing business, but probably not supported if it is a new opportunity. 
C)  immediately supported with large investment. 
D)  sold off or discontinued. 
E)  viewed as a "green" (high growth) opportunity. 
A)  called a strategic business unit. 
B)  supported if it is an existing business, but probably not supported if it is a new opportunity. 
C)  immediately supported with large investment. 
D)  sold off or discontinued. 
E)  viewed as a "green" (high growth) opportunity.

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

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

Interest rates

Spying on competitors to obtain trade secrets, raises moral issues but is not illegal.

The basic objective of a firm should be to:

The Clayton Act focuses on practices which may substantially lessen competition-such as tying contracts, exclusive dealing contracts and price discrimination by manufacturers.

Because the Consumer Product Safety Commission has no power to force a product off the market, safety is not a very important consideration in product design.

As of 2009, which of the following countries does not have more than 80% of its population using the Internet?

Which of the following statements about world population trends is true?

The "continuum of environmental sensitivity" suggests that:

The Wheeler-Lea Amendment specifically aims at:

A firm may find that both the competitive and economic environments are better in a foreign market than in its domestic market.

Gross domestic product (GDP) is the:

Ownership of patents, a familiar brand name, and financial strength are some of the many resources of a firm that a manager should evaluate when searching for new opportunities.

In international markets marketing managers usually have an easier time understanding the variables in the market environment.

____ refers to the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country.

Changes in the cultural and social environment tend to come about quickly.

Which of the following is not a part of the direct market environment for Starbucks?

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).

According to the General Electric strategic planning grid, an opportunity which is low on the "business strengths" dimension but high on the "industry attractiveness" should be:

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

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

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

Interest rates

Spying on competitors to obtain trade secrets, raises moral issues but is not illegal.

The basic objective of a firm should be to:

The Clayton Act focuses on practices which may substantially lessen competition-such as tying contracts, exclusive dealing contracts and price discrimination by manufacturers.

Because the Consumer Product Safety Commission has no power to force a product off the market, safety is not a very important consideration in product design.

As of 2009, which of the following countries does not have more than 80% of its population using the Internet?

Which of the following statements about world population trends is true?

The "continuum of environmental sensitivity" suggests that:

The Wheeler-Lea Amendment specifically aims at:

A firm may find that both the competitive and economic environments are better in a foreign market than in its domestic market.

Gross domestic product (GDP) is the:

Ownership of patents, a familiar brand name, and financial strength are some of the many resources of a firm that a manager should evaluate when searching for new opportunities.

In international markets marketing managers usually have an easier time understanding the variables in the market environment.

____ refers to the total market value of all goods and services provided in a country's economy in a year by both residents and nonresidents of that country.

Changes in the cultural and social environment tend to come about quickly.

Which of the following is not a part of the direct market environment for Starbucks?

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).

According to the General Electric strategic planning grid, an opportunity which is low on the "business strengths" dimension but high on the "industry attractiveness" should be:

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