Question 1

A company would be charged with product warranty violations under:

Accepted Answer

A)  the Total Quality Management Act 
B)  the Robinson-Patman Act 
C)  the Federal Trade Commission Act 
D)  the Magnuson-Moss Act 
E)  There are no laws regulating product warranties. 
A)  the Total Quality Management Act 
B)  the Robinson-Patman Act 
C)  the Federal Trade Commission Act 
D)  the Magnuson-Moss Act 
E)  There are no laws regulating product warranties. D

Question 2

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. D

Question 3

Company objectives

Accepted Answer

A)  should be set within the framework of marketing objectives. 
B)  are made redundant by mission statements. 
C)  should always be overly ambitious. 
D)  should only be revised every five years. 
E)  guide managers as they search for and evaluate opportunities. 
A)  should be set within the framework of marketing objectives. 
B)  are made redundant by mission statements. 
C)  should always be overly ambitious. 
D)  should only be revised every five years. 
E)  guide managers as they search for and evaluate opportunities. E

Question 4

Gross domestic product (GDP):

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.

Question 5

Over the past decade, which state in the U.S.'s Sun Belt had the fastest population growth?

Accepted Answer

A)  Texas 
B)  Georgia 
C)  North Carolina 
D)  South Carolina 
E)  Florida 
A)  Texas 
B)  Georgia 
C)  North Carolina 
D)  South Carolina 
E)  Florida

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A)  "We are targeting the pre-school age group, since that group is growing faster than ever before." 
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 the pre-school age group, since that group is growing faster than ever before." 
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 8

Interest rates usually decrease during periods of inflation.

Accepted Answer

A) True 
 B)False

Question 9

Identify the incorrect statement pertaining to multiproduct firms.

Accepted Answer

A)  They have a more difficult strategic planning job than firms with only a few products or product lines. 
B)  They have to develop strategic plans for very different businesses. 
C)  They have to balance plans and resources so the whole company reaches its objectives. 
D)  They have to get needed resources without milking some businesses and eliminating others. 
E)  They may form strategic business units. 
A)  They have a more difficult strategic planning job than firms with only a few products or product lines. 
B)  They have to develop strategic plans for very different businesses. 
C)  They have to balance plans and resources so the whole company reaches its objectives. 
D)  They have to get needed resources without milking some businesses and eliminating others. 
E)  They may form strategic business units.

Question 10

Swanson Beverages, Inc., is using ______________ to compare the strengths and weaknesses of its current target market and marketing mix with what its competitors are doing (or are likely to do).

Accepted Answer

A)  clustering 
B)  scenario analysis 
C)  brand positioning 
D)  marketing mix review 
E)  competitor analysis 
A)  clustering 
B)  scenario analysis 
C)  brand positioning 
D)  marketing mix review 
E)  competitor analysis

Question 11

Placing the interests of individual consumers before the interests of business is nationalism.

Accepted Answer

A) True 
 B)False

Question 12

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 13

Which of the following is a QUALITATIVE screening criterion for evaluating opportunities?

Accepted Answer

A)  Sales target for the firm. 
B)  Profit target for the firm. 
C)  Kind of business the firm wants to be in. 
D)  Return on investment (ROI) target for the firm. 
E)  None of these is a QUALITATIVE screening criterion. 
A)  Sales target for the firm. 
B)  Profit target for the firm. 
C)  Kind of business the firm wants to be in. 
D)  Return on investment (ROI) target for the firm. 
E)  None of these is a QUALITATIVE screening criterion.

Question 14

The Sherman Act and the Clayton Act:

Accepted Answer

A)  were intended to protect large producers. 
B)  were designed to limit competition. 
C)  were passed during the rash of corporate takeovers in the 1980s. 
D)  None of these is correct. 
A)  were intended to protect large producers. 
B)  were designed to limit competition. 
C)  were passed during the rash of corporate takeovers in the 1980s. 
D)  None of these is correct.

Question 15

The business strengths dimension of the GE grid focuses on:

Accepted Answer

A)  market diversity. 
B)  the question: Does this product-market plan look like a good idea? 
C)  the ability of the company to pursue a product-market plan effectively. 
D)  industry profitability. 
E)  the social and legal environment. 
A)  market diversity. 
B)  the question: Does this product-market plan look like a good idea? 
C)  the ability of the company to pursue a product-market plan effectively. 
D)  industry profitability. 
E)  the social and legal environment.

Question 16

The median age of the U.S. population

Accepted Answer

A)  was 37 in 1980. 
B)  will be about 30 by 2010. 
C)  is decreasing because the percentage of population in older age groups has decreased. 
D)  is growing because the percentage of population in older age groups has increased. 
E)  has not changed since 1980. 
A)  was 37 in 1980. 
B)  will be about 30 by 2010. 
C)  is decreasing because the percentage of population in older age groups has decreased. 
D)  is growing because the percentage of population in older age groups has increased. 
E)  has not changed since 1980.

Question 17

A mission statement sets out the organization's basic purpose for being.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

The move of the "Baby Boomers" into the 45-64 age group:

Accepted Answer

A)  increased the average age of the population. 
B)  created new opportunities in financial services. 
C)  contributed to increased interest in health and fitness products. 
D)  All of these are correct 
A)  increased the average age of the population. 
B)  created new opportunities in financial services. 
C)  contributed to increased interest in health and fitness products. 
D)  All of these are correct

Question 20

Which of the following is NOT an example of how the technological environment might affect marketing management?

Accepted Answer

A)  A manufacturer uses a computer to send orders directly to a supplier's computer. 
B)  A retailer installs a computerized checkout scanner to replace a manual cash register system. 
C)  A firm develops a substitute for saturated fat in manufactured foods. 
D)  All of these are examples of how the technological environment might affect marketing management. 
A)  A manufacturer uses a computer to send orders directly to a supplier's computer. 
B)  A retailer installs a computerized checkout scanner to replace a manual cash register system. 
C)  A firm develops a substitute for saturated fat in manufactured foods. 
D)  All of these are examples of how the technological environment might affect marketing management.

A company would be charged with product warranty violations under:

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

Company objectives

Gross domestic product (GDP):

Over the past decade, which state in the U.S.'s Sun Belt had the fastest population growth?

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

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

Interest rates usually decrease during periods of inflation.

Identify the incorrect statement pertaining to multiproduct firms.

Swanson Beverages, Inc., is using ______________ to compare the strengths and weaknesses of its current target market and marketing mix with what its competitors are doing (or are likely to do).

Placing the interests of individual consumers before the interests of business is nationalism.

With the "unification of Europe":

Which of the following is a QUALITATIVE screening criterion for evaluating opportunities?

The Sherman Act and the Clayton Act:

The business strengths dimension of the GE grid focuses on:

The median age of the U.S. population

A mission statement sets out the organization's basic purpose for being.

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

The move of the "Baby Boomers" into the 45-64 age group:

Which of the following is NOT an example of how the technological environment might affect marketing management?

Marketing39s 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters

Exam 3: Evaluating Opportunities in the Changing Marketing Environment

A company would be charged with product warranty violations under:

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

Company objectives

Gross domestic product (GDP):

Over the past decade, which state in the U.S.'s Sun Belt had the fastest population growth?

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

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

Interest rates usually decrease during periods of inflation.

Identify the incorrect statement pertaining to multiproduct firms.

Swanson Beverages, Inc., is using ______________ to compare the strengths and weaknesses of its current target market and marketing mix with what its competitors are doing (or are likely to do).

Placing the interests of individual consumers before the interests of business is nationalism.

With the "unification of Europe":

Which of the following is a QUALITATIVE screening criterion for evaluating opportunities?

The Sherman Act and the Clayton Act:

The business strengths dimension of the GE grid focuses on:

The median age of the U.S. population

A mission statement sets out the organization's basic purpose for being.

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

The move of the "Baby Boomers" into the 45-64 age group:

Which of the following is NOT an example of how the technological environment might affect marketing management?

Marketing39s 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

Filters