Question 1

An energy company that has expertise in drilling for oil would also likely have the resources to:

Accepted Answer

A)  manufacture automobiles. 
B)  operate a chain of gas stations. 
C)  drill for natural gas. 
D)  sell office supplies. 
E)  make medical devices. 
A)  manufacture automobiles. 
B)  operate a chain of gas stations. 
C)  drill for natural gas. 
D)  sell office supplies. 
E)  make medical devices.

Question 2

A company trying to market its products in a country that has a low literacy rate would be well advised to:

Accepted Answer

A)  Print its promotional messages in larger font (character) sizes. 
B)  Conduct marketing research using paper-and-pencil surveys. 
C)  Use symbols, colors, and other nonverbal means of communication. 
D)  All of these measures would be useful. 
A)  Print its promotional messages in larger font (character) sizes. 
B)  Conduct marketing research using paper-and-pencil surveys. 
C)  Use symbols, colors, and other nonverbal means of communication. 
D)  All of these measures would be useful.

Question 3

New York is the state with the largest population, and California is a distant second.

Accepted Answer

A) True 
 B)False

Question 4

A firm's product-market screening criteria for evaluating existing plans and possible new opportunities should consider:

Accepted Answer

A)  the objectives of top management. 
B)  trends in the market environment. 
C)  the firm's strengths. 
D)  the firm's weaknesses. 
E)  All of these should be considered. 
A)  the objectives of top management. 
B)  trends in the market environment. 
C)  the firm's strengths. 
D)  the firm's weaknesses. 
E)  All of these should be considered.

Question 5

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

Accepted Answer

A) True 
 B)False

Question 6

With the "unification of Europe":

Accepted Answer

A)  many of the taxes and rules that have limited trade among member countries of the European Union were eliminated. 
B)  the need to adjust strategies to reach submarkets of European consumers disappeared. 
C)  firms operating in Europe have harder access to large markets. 
D)  consumer prices rose. 
A)  many of the taxes and rules that have limited trade among member countries of the European Union were eliminated. 
B)  the need to adjust strategies to reach submarkets of European consumers disappeared. 
C)  firms operating in Europe have harder access to large markets. 
D)  consumer prices rose.

Question 7

The Robinson-Patman Act specifically aims at:

Accepted Answer

A)  unfair methods of competition. 
B)  price discrimination. 
C)  deceptive advertising. 
D)  firms that rely on salespeople who sell "door to door." 
E)  attempts to monopolize. 
A)  unfair methods of competition. 
B)  price discrimination. 
C)  deceptive advertising. 
D)  firms that rely on salespeople who sell "door to door." 
E)  attempts to monopolize.

Question 8

Which of the following is not a marketing strength for a book publisher?

Accepted Answer

A)  Flexible production facilities. 
B)  A stable of popular authors. 
C)  A good sales force. 
D)  An efficient online ordering system for customers. 
E)  Good relationships with book wholesalers and retailers. 
A)  Flexible production facilities. 
B)  A stable of popular authors. 
C)  A good sales force. 
D)  An efficient online ordering system for customers. 
E)  Good relationships with book wholesalers and retailers.

Question 9

Which of the following statements about the technological environment is NOT TRUE?

Accepted Answer

A)  The Internet changes how firms communicate with customers. 
B)  The transfer of technology from one part of the world to another is automatic. 
C)  A focus on technology may cause firms to develop a production orientation. 
D)  New technologies create new product-markets. 
E)  Technology is the application of science to convert an economy's resources to output. 
A)  The Internet changes how firms communicate with customers. 
B)  The transfer of technology from one part of the world to another is automatic. 
C)  A focus on technology may cause firms to develop a production orientation. 
D)  New technologies create new product-markets. 
E)  Technology is the application of science to convert an economy's resources to output.

Question 10

The early antimonopoly (or "procompetition") laws passed in the United States:

Accepted Answer

A)  include the Federal Trade Commission Act and the Clayton Act. 
B)  began with the Sherman Act in 1890. 
C)  affect the 4Ps and marketing mix planning. 
D)  focus more on protecting competition than protecting consumers. 
E)  All of these are correct. 
A)  include the Federal Trade Commission Act and the Clayton Act. 
B)  began with the Sherman Act in 1890. 
C)  affect the 4Ps and marketing mix planning. 
D)  focus more on protecting competition than protecting consumers. 
E)  All of these are correct.

Question 11

The first step in a competitor analysis is to identify potential competitors.

Accepted Answer

A) True 
 B)False

Question 12

A marketing manager may ethically and actively seek information about current or potential competitors by

Accepted Answer

A)  searching a firm's public website. 
B)  waiting at a landfill for competitors' trash to find copies of confidential company reports. 
C)  using computer "hackers" to break into a competitor's computer network. 
D)  hiring people from competing firms and then asking them confidential information about the competitor. 
E)  spying on competitors to obtain trade secrets. 
A)  searching a firm's public website. 
B)  waiting at a landfill for competitors' trash to find copies of confidential company reports. 
C)  using computer "hackers" to break into a competitor's computer network. 
D)  hiring people from competing firms and then asking them confidential information about the competitor. 
E)  spying on competitors to obtain trade secrets.

Question 13

Identify the incorrect statement about population density and population growth.

Accepted Answer

A)  Population density is important to marketers. 
B)  In Bangladesh and Kenya more than 85 percent of people live in urban areas. 
C)  People everywhere are moving from rural areas to urban areas. 
D)  Population is very spread out in many of the African countries. 
E)  Population growth rate is higher in the United States than in China. 
A)  Population density is important to marketers. 
B)  In Bangladesh and Kenya more than 85 percent of people live in urban areas. 
C)  People everywhere are moving from rural areas to urban areas. 
D)  Population is very spread out in many of the African countries. 
E)  Population growth rate is higher in the United States than in China.

Question 14

When Acme Tools was found guilty of giving one of its retailers lower prices on goods of "like grade and quality" without any cost justification, the firm was charged with a violation of the ___________.

Accepted Answer

A)  Sherman Act 
B)  Clayton Act 
C)  Robinson-Patman Act 
D)  Antimerger Act 
E)  Wheeler-Lea Amendment 
A)  Sherman Act 
B)  Clayton Act 
C)  Robinson-Patman Act 
D)  Antimerger Act 
E)  Wheeler-Lea Amendment

Question 15

In the short run, a marketing manager usually cannot control:

Accepted Answer

A)  the competitive environment. 
B)  the cultural environment. 
C)  the legal environment. 
D)  the economic environment. 
E)  Any of these environments are uncontrollable in the short run. 
A)  the competitive environment. 
B)  the cultural environment. 
C)  the legal environment. 
D)  the economic environment. 
E)  Any of these environments are uncontrollable in the short run.

Question 16

In monopolistic competition, one firm completely controls a broad product-market.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following observations is NOT TRUE of monopolistic competition?

Accepted Answer

A)  A number of different firms offer marketing mixes that at least some customers see as different. 
B)  Marketing managers try to differentiate very similar products by relying on other elements of the marketing mix. 
C)  Each competitor tries to get a monopoly in its own target market. 
D)  Most marketing managers in developed economies do not face monopolistic competition. 
E)  Competition exists because some customers see various alternatives as substitutes. 
A)  A number of different firms offer marketing mixes that at least some customers see as different. 
B)  Marketing managers try to differentiate very similar products by relying on other elements of the marketing mix. 
C)  Each competitor tries to get a monopoly in its own target market. 
D)  Most marketing managers in developed economies do not face monopolistic competition. 
E)  Competition exists because some customers see various alternatives as substitutes.

Question 18

Product warranties are regulated by the Magnuson-Moss Act.

Accepted Answer

A) True 
 B)False

Question 19

A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef. Clearly, this firm's opportunities may improve with this change in the

Accepted Answer

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

Question 20

In 1980, the median age of the U.S. population was 37.

Accepted Answer

A) True 
 B)False

An energy company that has expertise in drilling for oil would also likely have the resources to:

A company trying to market its products in a country that has a low literacy rate would be well advised to:

New York is the state with the largest population, and California is a distant second.

A firm's product-market screening criteria for evaluating existing plans and possible new opportunities should consider:

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

With the "unification of Europe":

The Robinson-Patman Act specifically aims at:

Which of the following is not a marketing strength for a book publisher?

Which of the following statements about the technological environment is NOT TRUE?

The early antimonopoly (or "procompetition") laws passed in the United States:

The first step in a competitor analysis is to identify potential competitors.

A marketing manager may ethically and actively seek information about current or potential competitors by

Identify the incorrect statement about population density and population growth.

When Acme Tools was found guilty of giving one of its retailers lower prices on goods of "like grade and quality" without any cost justification, the firm was charged with a violation of the ___________.

In the short run, a marketing manager usually cannot control:

In monopolistic competition, one firm completely controls a broad product-market.

Which of the following observations is NOT TRUE of monopolistic competition?

Product warranties are regulated by the Magnuson-Moss Act.

A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef. Clearly, this firm's opportunities may improve with this change in the

In 1980, the median age of the U.S. population was 37.

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

An energy company that has expertise in drilling for oil would also likely have the resources to:

A company trying to market its products in a country that has a low literacy rate would be well advised to:

New York is the state with the largest population, and California is a distant second.

A firm's product-market screening criteria for evaluating existing plans and possible new opportunities should consider:

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

With the "unification of Europe":

The Robinson-Patman Act specifically aims at:

Which of the following is not a marketing strength for a book publisher?

Which of the following statements about the technological environment is NOT TRUE?

The early antimonopoly (or "procompetition") laws passed in the United States:

The first step in a competitor analysis is to identify potential competitors.

A marketing manager may ethically and actively seek information about current or potential competitors by

Identify the incorrect statement about population density and population growth.

When Acme Tools was found guilty of giving one of its retailers lower prices on goods of "like grade and quality" without any cost justification, the firm was charged with a violation of the ___________.

In the short run, a marketing manager usually cannot control:

In monopolistic competition, one firm completely controls a broad product-market.

Which of the following observations is NOT TRUE of monopolistic competition?

Product warranties are regulated by the Magnuson-Moss Act.

A marketing analyst for a chicken processor reports that a rising percentage of people are eating chicken because it has less fat than beef. Clearly, this firm's opportunities may improve with this change in the

In 1980, the median age of the U.S. population was 37.

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