Question 1

Which of the following is not a basic kind of market (competitive) situation?

Accepted Answer

A)  Pure competition 
B)  Oligopoly 
C)  Capitalistic competition 
D)  Monopolistic competition 
E)  Monopoly 
A)  Pure competition 
B)  Oligopoly 
C)  Capitalistic competition 
D)  Monopolistic competition 
E)  Monopoly

Question 2

Maria Lopez runs an errand service from her home. For a fee, she will pick up dry cleaning, buy groceries, plan small parties, and do errands for her customers. The demand for this type of service has increased because of changes in the

Accepted Answer

A)  cultural and social environment. 
B)  legal environment. 
C)  technological environment. 
D)  political environment. 
E)  none of these environments is relevant. 
A)  cultural and social environment. 
B)  legal environment. 
C)  technological environment. 
D)  political environment. 
E)  none of these environments is relevant.

Question 3

Nike claims in its Annual Report that "the reasons every NIKE employee comes to work every day is to create great product, to lead the athletic industry in innovation, and to serve the athlete." This is Nike's:

Accepted Answer

A)  competitive barrier. 
B)  technology. 
C)  portfolio management. 
D)  mission statement. 
E)  competitor analysis. 
A)  competitive barrier. 
B)  technology. 
C)  portfolio management. 
D)  mission statement. 
E)  competitor analysis.

Question 4

Gross national income (GNI) is the:

Accepted Answer

A)  total cost of producing all goods and services sold in a year. 
B)  total market value of goods and services provided in an economy in a year by residents of that country. 
C)  total market value of goods (but not services) consumed in an economy in a year. 
D)  total market value of goods and services consumed in a year. 
E)  total market value of goods (but not services) produced in an economy in a year. 
A)  total cost of producing all goods and services sold in a year. 
B)  total market value of goods and services provided in an economy in a year by residents of that country. 
C)  total market value of goods (but not services) consumed in an economy in a year. 
D)  total market value of goods and services consumed in a year. 
E)  total market value of goods (but not services) produced in an economy in a year.

Question 5

General Electric's "strategic planning grid":

Accepted Answer

A)  focuses on market share and market growth rate. 
B)  requires subjective judgments about business strengths and industry attractiveness. 
C)  requires that all opportunities be judged either "High" or "Low." 
D)  substitutes quantitative estimates for management judgment. 
E)  All of these alternatives about GE's strategic planning grid are true. 
A)  focuses on market share and market growth rate. 
B)  requires subjective judgments about business strengths and industry attractiveness. 
C)  requires that all opportunities be judged either "High" or "Low." 
D)  substitutes quantitative estimates for management judgment. 
E)  All of these alternatives about GE's strategic planning grid are true.

Question 6

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 7

The different rates of population growth are important to marketers for all of the following reasons except

Accepted Answer

A)  sudden growth in one area may create a demand for many new shopping centers. 
B)  retailers in growing areas face tougher competition for a smaller number of customers. 
C)  marketers always look for fast-growing markets. 
D)  in growing areas, demand may increase so rapidly that profits may be good even in poorly planned facilities. 
A)  sudden growth in one area may create a demand for many new shopping centers. 
B)  retailers in growing areas face tougher competition for a smaller number of customers. 
C)  marketers always look for fast-growing markets. 
D)  in growing areas, demand may increase so rapidly that profits may be good even in poorly planned facilities.

Question 8

A patent owner has a 20-year monopoly to develop and use its new product, process, or material.

Accepted Answer

A) True 
 B)False

Question 9

Gross national income:

Accepted Answer

A)  is the total market value of goods, but not services, produced in a year. 
B)  is an excellent basis for comparing consumer well-being across different cultures and economies. 
C)  is a widely used measure of income for different countries. 
D)  is the total market value of services, but not goods, produced in a year. 
E)  All of these are true. 
A)  is the total market value of goods, but not services, produced in a year. 
B)  is an excellent basis for comparing consumer well-being across different cultures and economies. 
C)  is a widely used measure of income for different countries. 
D)  is the total market value of services, but not goods, produced in a year. 
E)  All of these are true.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

According to projections about percent growth in population for each state in the U.S., from 2000 to 2010,

Accepted Answer

A)  the greatest growth is in western states like Nevada, Arizona, Idaho, and Utah. 
B)  the population growth rate of New York is expected to lead the nation. 
C)  the population growth rate does not vary in different regions of the country. 
D)  the population growth rate of Florida is now one of the lowest in the country. 
E)  the population growth rate in Georgia, Texas, and North Carolina is negligible. 
A)  the greatest growth is in western states like Nevada, Arizona, Idaho, and Utah. 
B)  the population growth rate of New York is expected to lead the nation. 
C)  the population growth rate does not vary in different regions of the country. 
D)  the population growth rate of Florida is now one of the lowest in the country. 
E)  the population growth rate in Georgia, Texas, and North Carolina is negligible.

Question 12

Increased demand for new homes due to low interest rates is an example of the impact of the ___________ environment.

Accepted Answer

A)  technological 
B)  cultural 
C)  competitive 
D)  economic 
E)  social 
A)  technological 
B)  cultural 
C)  competitive 
D)  economic 
E)  social

Question 13

The political environment may either block or promote new marketing opportunities.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following countries has the highest population density?

Accepted Answer

A)  Switzerland 
B)  United States 
C)  Australia 
D)  Singapore 
E)  Bangladesh 
A)  Switzerland 
B)  United States 
C)  Australia 
D)  Singapore 
E)  Bangladesh

Question 15

According to the General Electric strategic planning grid, a business that is the strongest in its industry:

Accepted Answer

A)  should still be considered as a "no-growth" prospect unless the industry attractiveness is high. 
B)  is a good prospect, provided the industry has at least medium attractiveness. 
C)  should automatically receive a large investment. 
D)  All of these alternatives about GE's strategic planning grid are true. 
A)  should still be considered as a "no-growth" prospect unless the industry attractiveness is high. 
B)  is a good prospect, provided the industry has at least medium attractiveness. 
C)  should automatically receive a large investment. 
D)  All of these alternatives about GE's strategic planning grid are true.

Question 16

GNI income measures can give the impression that people in less-developed nations have less income than they really do.

Accepted Answer

A) True 
 B)False

Question 17

The way in which an economy's resources are converted to output is part of the _______________ environment.

Accepted Answer

A)  competitive 
B)  economic 
C)  political 
D)  technological 
E)  social 
A)  competitive 
B)  economic 
C)  political 
D)  technological 
E)  social

Question 18

When considering international markets, income is usually not an important demographic dimension.

Accepted Answer

A) True 
 B)False

Question 19

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 20

The Federal Trade Commission Act of 1914 focuses on:

Accepted Answer

A)  mergers between competitors. 
B)  unreasonable practices related to product warranties. 
C)  unfair methods of competition. 
D)  tying contracts. 
E)  attempts to monopolize. 
A)  mergers between competitors. 
B)  unreasonable practices related to product warranties. 
C)  unfair methods of competition. 
D)  tying contracts. 
E)  attempts to monopolize.

Which of the following is not a basic kind of market (competitive) situation?

Maria Lopez runs an errand service from her home. For a fee, she will pick up dry cleaning, buy groceries, plan small parties, and do errands for her customers. The demand for this type of service has increased because of changes in the

Nike claims in its Annual Report that "the reasons every NIKE employee comes to work every day is to create great product, to lead the athletic industry in innovation, and to serve the athlete." This is Nike's:

Gross national income (GNI) is the:

General Electric's "strategic planning grid":

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

The different rates of population growth are important to marketers for all of the following reasons except

A patent owner has a 20-year monopoly to develop and use its new product, process, or material.

Gross national income:

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

According to projections about percent growth in population for each state in the U.S., from 2000 to 2010,

Increased demand for new homes due to low interest rates is an example of the impact of the ___________ environment.

The political environment may either block or promote new marketing opportunities.

Which of the following countries has the highest population density?

According to the General Electric strategic planning grid, a business that is the strongest in its industry:

GNI income measures can give the impression that people in less-developed nations have less income than they really do.

The way in which an economy's resources are converted to output is part of the _______________ environment.

When considering international markets, income is usually not an important demographic dimension.

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

The Federal Trade Commission Act of 1914 focuses on:

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

Which of the following is not a basic kind of market (competitive) situation?

Maria Lopez runs an errand service from her home. For a fee, she will pick up dry cleaning, buy groceries, plan small parties, and do errands for her customers. The demand for this type of service has increased because of changes in the

Nike claims in its Annual Report that "the reasons every NIKE employee comes to work every day is to create great product, to lead the athletic industry in innovation, and to serve the athlete." This is Nike's:

Gross national income (GNI) is the:

General Electric's "strategic planning grid":

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

The different rates of population growth are important to marketers for all of the following reasons except

A patent owner has a 20-year monopoly to develop and use its new product, process, or material.

Gross national income:

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

According to projections about percent growth in population for each state in the U.S., from 2000 to 2010,

Increased demand for new homes due to low interest rates is an example of the impact of the ___________ environment.

The political environment may either block or promote new marketing opportunities.

Which of the following countries has the highest population density?

According to the General Electric strategic planning grid, a business that is the strongest in its industry:

GNI income measures can give the impression that people in less-developed nations have less income than they really do.

The way in which an economy's resources are converted to output is part of the _______________ environment.

When considering international markets, income is usually not an important demographic dimension.

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

The Federal Trade Commission Act of 1914 focuses on:

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