Question 1

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 2

A basic idea in the legal environment in the United States is that attempts by business to limit competition are considered contrary to the public interest.

Accepted Answer

A) True 
 B)False

Question 3

According to the "continuum of environmental sensitivity," which of the following types of products would be most sensitive to environmental changes?

Accepted Answer

A)  Consumer products that are basically a commodity--like gasoline 
B)  Industrial products 
C)  Consumer products that are tied to cultural differences--like diet colas 
D)  Manufacturing products 
E)  Engineering products 
A)  Consumer products that are basically a commodity--like gasoline 
B)  Industrial products 
C)  Consumer products that are tied to cultural differences--like diet colas 
D)  Manufacturing products 
E)  Engineering products

Question 4

American economic and legislative thinking is based on the idea that

Accepted Answer

A)  encouraging competition harms public interest. 
B)  competition among many small firms helps the economy. 
C)  attempts by business to limit competition aids large firms during recessions. 
D)  the economic environment provides a base for the technological environment. 
E)  laws should protect companies and not consumers. 
A)  encouraging competition harms public interest. 
B)  competition among many small firms helps the economy. 
C)  attempts by business to limit competition aids large firms during recessions. 
D)  the economic environment provides a base for the technological environment. 
E)  laws should protect companies and not consumers.

Question 5

Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?

Accepted Answer

A)  Company objectives, sales promotion objectives, marketing objectives, promotion objectives. 
B)  Marketing objectives, company objectives, promotion objectives, sales promotion objectives. 
C)  Company objectives, marketing objectives, promotion objectives, sales promotion objectives. 
D)  Marketing objectives, promotion objectives, sales promotion objectives, company objectives. 
E)  Promotion objectives, sales promotion objectives, company objectives, marketing objectives. 
A)  Company objectives, sales promotion objectives, marketing objectives, promotion objectives. 
B)  Marketing objectives, company objectives, promotion objectives, sales promotion objectives. 
C)  Company objectives, marketing objectives, promotion objectives, sales promotion objectives. 
D)  Marketing objectives, promotion objectives, sales promotion objectives, company objectives. 
E)  Promotion objectives, sales promotion objectives, company objectives, marketing objectives.

Question 6

X-Brand Bikes, a manufacturer of off-road bicycles, carefully developed a strategy for moving into South America. The strategy had poor results after interest rates and inflation rose rapidly in most of its South American markets, demonstrating the influence of the _____ on marketing strategy.

Accepted Answer

A)  economic environment 
B)  technological environment 
C)  social environment 
D)  legal environment 
E)  political environment 
A)  economic environment 
B)  technological environment 
C)  social environment 
D)  legal environment 
E)  political environment

Question 7

A first step in evaluating marketing opportunities is to:

Accepted Answer

A)  decide which markets the firm wishes to enter. 
B)  consider the objectives and resources of the firm. 
C)  hire a "futurist" as a marketing consultant. 
D)  estimate market and sales potentials. 
E)  find out if potential competitors are larger. 
A)  decide which markets the firm wishes to enter. 
B)  consider the objectives and resources of the firm. 
C)  hire a "futurist" as a marketing consultant. 
D)  estimate market and sales potentials. 
E)  find out if potential competitors are larger.

Question 8

Consumer emphasis on fitness has created opportunities for firms like Nike, Nautilus and Schwinn, and illustrates the impact of the changing:

Accepted Answer

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

Question 9

A firm that discriminates in price on goods of "like grade and quality" may be in violation of the ___________ Act.

Accepted Answer

A)  Sherman 
B)  Robinson-Patman 
C)  Wheeler-Lea 
D)  Magnuson-Moss 
E)  Antimerger 
A)  Sherman 
B)  Robinson-Patman 
C)  Wheeler-Lea 
D)  Magnuson-Moss 
E)  Antimerger

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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 12

Product-market screening criteria should be mainly quantitative in nature, because qualitative criteria are too subjective.

Accepted Answer

A) True 
 B)False

Question 13

In the past decade, all of the following U.S. states had really fast population growth rates EXCEPT:

Accepted Answer

A)  Missouri 
B)  Nevada 
C)  Arizona 
D)  Idaho 
E)  Utah 
A)  Missouri 
B)  Nevada 
C)  Arizona 
D)  Idaho 
E)  Utah

Question 14

____ 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 15

According to estimates, which of the following countries has 100 percent literacy?

Accepted Answer

A)  Norway 
B)  Singapore 
C)  Italy 
D)  India 
E)  China 
A)  Norway 
B)  Singapore 
C)  Italy 
D)  India 
E)  China

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

The _____ refers to how much one country's money is worth in another country's money.

Accepted Answer

A)  monetary value 
B)  exchange rate 
C)  dollar value 
D)  net worth 
E)  purchasing power 
A)  monetary value 
B)  exchange rate 
C)  dollar value 
D)  net worth 
E)  purchasing power

Question 18

The recent interest in physical fitness has forced producers of food, clothing, and other products to reconsider their marketing strategies. Which of the following does this trend illustrate?

Accepted Answer

A)  Economic and technological environments. 
B)  Cultural and social environment. 
C)  Existing business situation. 
D)  Political and legal environment. 
E)  Resources and objectives of the firm. 
A)  Economic and technological environments. 
B)  Cultural and social environment. 
C)  Existing business situation. 
D)  Political and legal environment. 
E)  Resources and objectives of the firm.

Question 19

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 20

India has more people than the United States, and China has more people than India.

Accepted Answer

A) True 
 B)False

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

A basic idea in the legal environment in the United States is that attempts by business to limit competition are considered contrary to the public interest.

According to the "continuum of environmental sensitivity," which of the following types of products would be most sensitive to environmental changes?

American economic and legislative thinking is based on the idea that

Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?

X-Brand Bikes, a manufacturer of off-road bicycles, carefully developed a strategy for moving into South America. The strategy had poor results after interest rates and inflation rose rapidly in most of its South American markets, demonstrating the influence of the _____ on marketing strategy.

A first step in evaluating marketing opportunities is to:

Consumer emphasis on fitness has created opportunities for firms like Nike, Nautilus and Schwinn, and illustrates the impact of the changing:

A firm that discriminates in price on goods of "like grade and quality" may be in violation of the ___________ Act.

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

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

Product-market screening criteria should be mainly quantitative in nature, because qualitative criteria are too subjective.

In the past decade, all of the following U.S. states had really fast population growth rates EXCEPT:

____ 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.

According to estimates, which of the following countries has 100 percent literacy?

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

The _____ refers to how much one country's money is worth in another country's money.

The recent interest in physical fitness has forced producers of food, clothing, and other products to reconsider their marketing strategies. Which of the following does this trend illustrate?

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

India has more people than the United States, and China has more people than India.

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

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

A basic idea in the legal environment in the United States is that attempts by business to limit competition are considered contrary to the public interest.

According to the "continuum of environmental sensitivity," which of the following types of products would be most sensitive to environmental changes?

American economic and legislative thinking is based on the idea that

Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?

X-Brand Bikes, a manufacturer of off-road bicycles, carefully developed a strategy for moving into South America. The strategy had poor results after interest rates and inflation rose rapidly in most of its South American markets, demonstrating the influence of the _____ on marketing strategy.

A first step in evaluating marketing opportunities is to:

Consumer emphasis on fitness has created opportunities for firms like Nike, Nautilus and Schwinn, and illustrates the impact of the changing:

A firm that discriminates in price on goods of "like grade and quality" may be in violation of the ___________ Act.

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

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

Product-market screening criteria should be mainly quantitative in nature, because qualitative criteria are too subjective.

In the past decade, all of the following U.S. states had really fast population growth rates EXCEPT:

____ 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.

According to estimates, which of the following countries has 100 percent literacy?

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

The _____ refers to how much one country's money is worth in another country's money.

The recent interest in physical fitness has forced producers of food, clothing, and other products to reconsider their marketing strategies. Which of the following does this trend illustrate?

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

India has more people than the United States, and China has more people than India.

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