Question 1

When evaluating opportunities, quantitative screening criteria help a manager decide what kind of opportunities to pursue.

Accepted Answer

A) True 
 B)False

Question 2

With General Electric's strategic planning grid:

Accepted Answer

A)  the industry attractiveness dimension focuses on the ability of the company to pursue a product-market plan effectively. 
B)  managers must follow an objective, single-factor approach. 
C)  the business strengths dimension focuses on whether this product-market plan looks like a good idea. 
D)  managers make three-part judgments about the business strengths and industry attractiveness of all proposed or existing product-market plans. 
E)  opportunities that fall into the red boxes are the firm's best growth opportunities. 
A)  the industry attractiveness dimension focuses on the ability of the company to pursue a product-market plan effectively. 
B)  managers must follow an objective, single-factor approach. 
C)  the business strengths dimension focuses on whether this product-market plan looks like a good idea. 
D)  managers make three-part judgments about the business strengths and industry attractiveness of all proposed or existing product-market plans. 
E)  opportunities that fall into the red boxes are the firm's best growth opportunities.

Question 3

GE's planning grid approach

Accepted Answer

A)  doesn't work because different managers usually come to different conclusions given the subjective evaluations involved. 
B)  is really the same thing as the total profit approach. 
C)  overemphasizes short term profitability. 
D)  is superficial because it considers only size and expected market share, and ignores other possibly important factors. 
E)  could be adapted easily by another firm with different objectives. 
A)  doesn't work because different managers usually come to different conclusions given the subjective evaluations involved. 
B)  is really the same thing as the total profit approach. 
C)  overemphasizes short term profitability. 
D)  is superficial because it considers only size and expected market share, and ignores other possibly important factors. 
E)  could be adapted easily by another firm with different objectives.

Question 4

Which of the following statements about demographic changes in the United States is not true.

Accepted Answer

A)  Demographic changes like population groupings are difficult to anticipate. 
B)  Senior citizens will grow in number rapidly from 2005 to 2025. 
C)  The number of kids age 0-9 will grow from about 40 million to about 45 million from 2005 to 2025. 
D)  In 2025 there will be fewer people over age 80 than under age 10. 
E)  In 2005, the number of kids 0-9 was about the same as the number of those in their 20s. 
A)  Demographic changes like population groupings are difficult to anticipate. 
B)  Senior citizens will grow in number rapidly from 2005 to 2025. 
C)  The number of kids age 0-9 will grow from about 40 million to about 45 million from 2005 to 2025. 
D)  In 2025 there will be fewer people over age 80 than under age 10. 
E)  In 2005, the number of kids 0-9 was about the same as the number of those in their 20s.

Question 5

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following age groups saw a decline in population from 2005-2015?

Accepted Answer

A)  0-9 
B)  10-19 
C)  30-39 
D)  40-49 
E)  80+ 
A)  0-9 
B)  10-19 
C)  30-39 
D)  40-49 
E)  80+

Question 7

Marketing managers should remember that there are many variables in the ____________ that affect strategy planning.

Accepted Answer

A)  economic and technological environments 
B)  competitive environment 
C)  cultural and social environment 
D)  political and legal environments 
E)  all of these environments have variables that affect strategy planning 
A)  economic and technological environments 
B)  competitive environment 
C)  cultural and social environment 
D)  political and legal environments 
E)  all of these environments have variables that affect strategy planning

Question 8

The greatest growth in the world's population over the next several years will come from:

Accepted Answer

A)  Western Europe. 
B)  Africa. 
C)  Australia. 
D)  Eastern Europe. 
E)  Russia and nations of the former Soviet bloc. 
A)  Western Europe. 
B)  Africa. 
C)  Australia. 
D)  Eastern Europe. 
E)  Russia and nations of the former Soviet bloc.

Question 9

Gross domestic product is the total dollar value of a country's exports during a one year period.

Accepted Answer

A) True 
 B)False

Question 10

A change in the _____ environment can affect consumer purchases of homes, cars, and other items usually bought on credit.

Accepted Answer

A)  legal 
B)  political 
C)  social/cultural 
D)  technological 
E)  economic 
A)  legal 
B)  political 
C)  social/cultural 
D)  technological 
E)  economic

Question 11

Adoption of the Internet and cell phones is having its greatest impact in developing countries.

Accepted Answer

A) True 
 B)False

Question 12

Because NAFTA is a short-term proposition, its economic impact has already been as significant as it is likely to be.

Accepted Answer

A) True 
 B)False

Question 13

When a firm has multiple market opportunities from which to choose, marketers can use the following tool to identify the best ones:

Accepted Answer

A)  Competitor analysis. 
B)  Competitor matrix. 
C)  Focus group. 
D)  S.W.O.T. analysis. 
E)  Strategic planning grid. 
A)  Competitor analysis. 
B)  Competitor matrix. 
C)  Focus group. 
D)  S.W.O.T. analysis. 
E)  Strategic planning grid.

Question 14

Identify the incorrect statement concerning the North American Free Trade Agreement (NAFTA).

Accepted Answer

A)  NAFTA lays out a plan to reshape the rules of trade among the U.S., Canada, and Mexico. 
B)  NAFTA enlarges the free-trade pact that had already knocked down most barriers to U.S.-Canada trade. 
C)  NAFTA has already eliminated most barriers to U.S.-Mexico trade. 
D)  NAFTA prohibits moving of production and jobs from the U.S. to Mexico. 
E)  NAFTA establishes a forum for resolving future trade disputes. 
A)  NAFTA lays out a plan to reshape the rules of trade among the U.S., Canada, and Mexico. 
B)  NAFTA enlarges the free-trade pact that had already knocked down most barriers to U.S.-Canada trade. 
C)  NAFTA has already eliminated most barriers to U.S.-Mexico trade. 
D)  NAFTA prohibits moving of production and jobs from the U.S. to Mexico. 
E)  NAFTA establishes a forum for resolving future trade disputes.

Question 15

When using screening criteria to evaluate opportunities:

Accepted Answer

A)  Marketers must try to match opportunities to the firm's resources and objectives. 
B)  Quantitative but not qualitative criteria should be considered. 
C)  Opportunities that are not expected to be profitable after one year of implementation should always be dropped. 
D)  The firm's weaknesses should be ignored. 
E)  All of these are correct. 
A)  Marketers must try to match opportunities to the firm's resources and objectives. 
B)  Quantitative but not qualitative criteria should be considered. 
C)  Opportunities that are not expected to be profitable after one year of implementation should always be dropped. 
D)  The firm's weaknesses should be ignored. 
E)  All of these are correct.

Question 16

The first and most important question to ask when evaluating product-market opportunities is:

Accepted Answer

A)  "How does it fit with our objectives and resources?" 
B)  "What is the sales forecast for this product?" 
C)  "How much profit will we make this year?" 
D)  "How much do we need to invest in this product?" 
E)  "How far along is our research and development effort in this area?" 
A)  "How does it fit with our objectives and resources?" 
B)  "What is the sales forecast for this product?" 
C)  "How much profit will we make this year?" 
D)  "How much do we need to invest in this product?" 
E)  "How far along is our research and development effort in this area?"

Question 17

GNI is 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) True 
 B)False

Question 18

Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:

Accepted Answer

A)  GDP measures show people's tendency to buy particular products. 
B)  income tends to be evenly distributed among consumers in most countries. 
C)  GDP estimates may not be very accurate for very different cultures and economies. 
D)  GDP measures show the degree of competition in a market. 
E)  GDP shows which brands will achieve the greatest sales. 
A)  GDP measures show people's tendency to buy particular products. 
B)  income tends to be evenly distributed among consumers in most countries. 
C)  GDP estimates may not be very accurate for very different cultures and economies. 
D)  GDP measures show the degree of competition in a market. 
E)  GDP shows which brands will achieve the greatest sales.

Question 19

The attitudes and behavior patterns of people are part of the

Accepted Answer

A)  political environment. 
B)  social and cultural environment. 
C)  competitive environment. 
D)  firm's resources and objectives. 
E)  economic and technological environment. 
A)  political environment. 
B)  social and cultural environment. 
C)  competitive environment. 
D)  firm's resources and objectives. 
E)  economic and technological environment.

Question 20

Gross national income (GNI):

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.

When evaluating opportunities, quantitative screening criteria help a manager decide what kind of opportunities to pursue.

With General Electric's strategic planning grid:

GE's planning grid approach

Which of the following statements about demographic changes in the United States is not true.

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Which of the following age groups saw a decline in population from 2005-2015?

Marketing managers should remember that there are many variables in the ____________ that affect strategy planning.

The greatest growth in the world's population over the next several years will come from:

Gross domestic product is the total dollar value of a country's exports during a one year period.

A change in the _____ environment can affect consumer purchases of homes, cars, and other items usually bought on credit.

Adoption of the Internet and cell phones is having its greatest impact in developing countries.

Because NAFTA is a short-term proposition, its economic impact has already been as significant as it is likely to be.

When a firm has multiple market opportunities from which to choose, marketers can use the following tool to identify the best ones:

Identify the incorrect statement concerning the North American Free Trade Agreement (NAFTA).

When using screening criteria to evaluate opportunities:

The first and most important question to ask when evaluating product-market opportunities is:

GNI is 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.

Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:

The attitudes and behavior patterns of people are part of the

Gross national income (GNI):

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 evaluating opportunities, quantitative screening criteria help a manager decide what kind of opportunities to pursue.

With General Electric's strategic planning grid:

GE's planning grid approach

Which of the following statements about demographic changes in the United States is not true.

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Which of the following age groups saw a decline in population from 2005-2015?

Marketing managers should remember that there are many variables in the ____________ that affect strategy planning.

The greatest growth in the world's population over the next several years will come from:

Gross domestic product is the total dollar value of a country's exports during a one year period.

A change in the _____ environment can affect consumer purchases of homes, cars, and other items usually bought on credit.

Adoption of the Internet and cell phones is having its greatest impact in developing countries.

Because NAFTA is a short-term proposition, its economic impact has already been as significant as it is likely to be.

When a firm has multiple market opportunities from which to choose, marketers can use the following tool to identify the best ones:

Identify the incorrect statement concerning the North American Free Trade Agreement (NAFTA).

When using screening criteria to evaluate opportunities:

The first and most important question to ask when evaluating product-market opportunities is:

GNI is 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.

Comparing GDP for foreign countries can help a marketing manager evaluate potential markets if the manager remembers that:

The attitudes and behavior patterns of people are part of the

Gross national income (GNI):

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