Question 1

The Internet is a system for linking computers around the world.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"?

Accepted Answer

A)  Industrial products. 
B)  Commodity-type consumer products. 
C)  Consumer products linked to cultural variables. 
D)  "Me-too" products. 
E)  Fad products. 
A)  Industrial products. 
B)  Commodity-type consumer products. 
C)  Consumer products linked to cultural variables. 
D)  "Me-too" products. 
E)  Fad products.

Question 3

Women's changing role has created opportunities for marketing but also complications.

Accepted Answer

A) True 
 B)False

Question 4

A widely used measure of income in most countries is:

Accepted Answer

A)  gross domestic product. 
B)  total consumption expenditures. 
C)  disposable personal product. 
D)  population times GDP. 
E)  socio-economic product. 
A)  gross domestic product. 
B)  total consumption expenditures. 
C)  disposable personal product. 
D)  population times GDP. 
E)  socio-economic product.

Question 5

A manager could be fined for violating the antimonopoly laws, but he or she could not be sent to jail.

Accepted Answer

A) True 
 B)False

Question 6

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.

Accepted Answer

A) True 
 B)False

Question 7

NAFTA:

Accepted Answer

A)  is a free-trade pact between the U.S., Canada, and Mexico. 
B)  is a long-term proposition. 
C)  has already eliminated most trade barriers with Mexico. 
D)  all of these are correct. 
A)  is a free-trade pact between the U.S., Canada, and Mexico. 
B)  is a long-term proposition. 
C)  has already eliminated most trade barriers with Mexico. 
D)  all of these are correct.

Question 8

The direct market environment

Accepted Answer

A)  includes customers, the company, and competitors. 
B)  consists of variables that can be controlled. 
C)  is broader in scope than the external environment. 
D)  includes economic and technological environments. 
E)  is made up of the political, legal, and social environments. 
A)  includes customers, the company, and competitors. 
B)  consists of variables that can be controlled. 
C)  is broader in scope than the external environment. 
D)  includes economic and technological environments. 
E)  is made up of the political, legal, and social environments.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

The _____ environment sets the basic rules for how a business can operate in society.

Accepted Answer

A)  legal 
B)  social 
C)  economic 
D)  technical 
E)  cultural 
A)  legal 
B)  social 
C)  economic 
D)  technical 
E)  cultural

Question 11

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 12

Which of the following would NOT be a marketing strength for a local coffee shop?

Accepted Answer

A)  A well recognized brand. 
B)  A patented coffee blend. 
C)  Established relations with local businesses. 
D)  Access to large amounts of capital from a long-term relationship with a local bank. 
E)  Counter staff that knows and understands customer preferences. 
A)  A well recognized brand. 
B)  A patented coffee blend. 
C)  Established relations with local businesses. 
D)  Access to large amounts of capital from a long-term relationship with a local bank. 
E)  Counter staff that knows and understands customer preferences.

Question 13

When considering international markets, income is often one of the most important demographic dimensions.

Accepted Answer

A) True 
 B)False

Question 14

The economies of the world are connected and changes in one economy quickly affect others. One key reason for this is that:

Accepted Answer

A)  The amount of international trade is decreasing. 
B)  The amount of international trade is difficult to forecast. 
C)  The amount of international trade is increasing. 
D)  The amount of international trade is unstable. 
E)  The amount of international trade is stable. 
A)  The amount of international trade is decreasing. 
B)  The amount of international trade is difficult to forecast. 
C)  The amount of international trade is increasing. 
D)  The amount of international trade is unstable. 
E)  The amount of international trade is stable.

Question 15

Product-market screening criteria should:

Accepted Answer

A)  be qualitative. 
B)  summarize in one place what the firm wants to accomplish. 
C)  be achievable. 
D)  be stated in quantitative terms. 
E)  All of these are correct. 
A)  be qualitative. 
B)  summarize in one place what the firm wants to accomplish. 
C)  be achievable. 
D)  be stated in quantitative terms. 
E)  All of these are correct.

Question 16

The profit potentials of alternative strategic plans can be evaluated at the same time only if the plans are very similar.

Accepted Answer

A) True 
 B)False

Question 17

Regarding population density in the world,

Accepted Answer

A)  high-population density occurs only in highly developed economies. 
B)  some Western European and Asian urban areas are more crowded than U.S. urban areas. 
C)  the United States is the only country with crowded urban areas. 
D)  there is a worldwide movement back to rural areas. 
E)  None of these is correct regarding population density in the world. 
A)  high-population density occurs only in highly developed economies. 
B)  some Western European and Asian urban areas are more crowded than U.S. urban areas. 
C)  the United States is the only country with crowded urban areas. 
D)  there is a worldwide movement back to rural areas. 
E)  None of these is correct regarding population density in the world.

Question 18

The General Electric "strategic planning grid" relies on subjective judgments about business strengths and industry attractiveness.

Accepted Answer

A) True 
 B)False

Question 19

A carpet cleaning firm runs a newspaper ad stating: "Special this month only! Three rooms of carpet cleaned for $39.95!" In each of the next ten months, the firm runs the same ad. A consumer advocacy group files suit against the carpet cleaning firm, contending that the ad is deceptive. The suit charges that the ad makes it seem as though the $39.95 price is a special price that will increase at the end of the month, when in reality, the price never changes. The U. S. federal law governing this type of situation is the:

Accepted Answer

A)  Robinson-Patman Act. 
B)  Clayton Act. 
C)  Sherman Act. 
D)  Magnuson-Moss Act. 
E)  Wheeler-Lea Amendment. 
A)  Robinson-Patman Act. 
B)  Clayton Act. 
C)  Sherman Act. 
D)  Magnuson-Moss Act. 
E)  Wheeler-Lea Amendment.

Question 20

Which of the following objectives of a business is the most important?

Accepted Answer

A)  To engage in some specific business activity which will perform a socially and economically useful function. 
B)  To develop an organization to carry on the business and implement its strategies. 
C)  To earn enough profit to survive. 
D)  All three of these objectives are equally important, because a failure in any one could lead to a total failure of the business. 
A)  To engage in some specific business activity which will perform a socially and economically useful function. 
B)  To develop an organization to carry on the business and implement its strategies. 
C)  To earn enough profit to survive. 
D)  All three of these objectives are equally important, because a failure in any one could lead to a total failure of the business.

The Internet is a system for linking computers around the world.

Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"?

Women's changing role has created opportunities for marketing but also complications.

A widely used measure of income in most countries is:

A manager could be fined for violating the antimonopoly laws, but he or she could not be sent to jail.

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.

NAFTA:

The direct market environment

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

The _____ environment sets the basic rules for how a business can operate in society.

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

Which of the following would NOT be a marketing strength for a local coffee shop?

When considering international markets, income is often one of the most important demographic dimensions.

The economies of the world are connected and changes in one economy quickly affect others. One key reason for this is that:

Product-market screening criteria should:

The profit potentials of alternative strategic plans can be evaluated at the same time only if the plans are very similar.

Regarding population density in the world,

The General Electric "strategic planning grid" relies on subjective judgments about business strengths and industry attractiveness.

Which of the following objectives of a business is the most important?

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

The Internet is a system for linking computers around the world.

Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"?

Women's changing role has created opportunities for marketing but also complications.

A widely used measure of income in most countries is:

A manager could be fined for violating the antimonopoly laws, but he or she could not be sent to jail.

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.

NAFTA:

The direct market environment

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

The _____ environment sets the basic rules for how a business can operate in society.

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

Which of the following would NOT be a marketing strength for a local coffee shop?

When considering international markets, income is often one of the most important demographic dimensions.

The economies of the world are connected and changes in one economy quickly affect others. One key reason for this is that:

Product-market screening criteria should:

The profit potentials of alternative strategic plans can be evaluated at the same time only if the plans are very similar.

Regarding population density in the world,

The General Electric "strategic planning grid" relies on subjective judgments about business strengths and industry attractiveness.

Which of the following objectives of a business is the most important?

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