Question 1

When using screening criteria to evaluate opportunities:

Accepted Answer

A)  Marketers must try to match opportunities to the firm's resources and objectives. 
B)  Quantitative but not qualitative criteria should be considered. 
C)  Opportunities that are not expected to be profitable after one year of implementation should always be dropped. 
D)  The firm's weaknesses should be ignored. 
E)  All of these are correct. 
A)  Marketers must try to match opportunities to the firm's resources and objectives. 
B)  Quantitative but not qualitative criteria should be considered. 
C)  Opportunities that are not expected to be profitable after one year of implementation should always be dropped. 
D)  The firm's weaknesses should be ignored. 
E)  All of these are correct.

Question 2

The state with the largest population is

Accepted Answer

A)  Texas. 
B)  Nevada. 
C)  New York. 
D)  Florida. 
E)  California. 
A)  Texas. 
B)  Nevada. 
C)  New York. 
D)  Florida. 
E)  California.

Question 3

The Wheeler-Lea Amendment specifically aims at:

Accepted Answer

A)  product warranties. 
B)  product safety. 
C)  unfair or deceptive practices. 
D)  tying and exclusive dealing contracts. 
E)  mergers and acquisitions. 
A)  product warranties. 
B)  product safety. 
C)  unfair or deceptive practices. 
D)  tying and exclusive dealing contracts. 
E)  mergers and acquisitions.

Question 4

A T and T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones. Availability and popularity of cellular phones is most likely due to changes in the ____________ environments.

Accepted Answer

A)  political and cultural 
B)  technological and legal 
C)  legal and economic 
D)  social and technological 
A)  political and cultural 
B)  technological and legal 
C)  legal and economic 
D)  social and technological

Question 5

Of the following objectives, the LAST objective(s) that a firm should specify is its ______________ objective(s).

Accepted Answer

A)  marketing 
B)  sales promotion 
C)  price 
D)  company 
E)  promotion 
A)  marketing 
B)  sales promotion 
C)  price 
D)  company 
E)  promotion

Question 6

Pill Makers Pharmaceuticals extensively tests all of its drugs to assure that it follows the _____.

Accepted Answer

A)  Sherman Act 
B)  Pure Food and Drug Act 
C)  Federal Trade Commission Act 
D)  Magnuson-Moss Act 
E)  Clayton Act 
A)  Sherman Act 
B)  Pure Food and Drug Act 
C)  Federal Trade Commission Act 
D)  Magnuson-Moss Act 
E)  Clayton Act

Question 7

The greatest growth in the world's population over the next several years will come from:

Accepted Answer

A)  Western Europe. 
B)  Africa. 
C)  Australia. 
D)  Eastern Europe. 
E)  Russia and nations of the former Soviet bloc. 
A)  Western Europe. 
B)  Africa. 
C)  Australia. 
D)  Eastern Europe. 
E)  Russia and nations of the former Soviet bloc.

Question 8

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 9

Gross national income (GNI) is the:

Accepted Answer

A)  total market value of goods and services provided in an economy in a year by residents of that country. 
B)  manufacturers' selling price of goods (but not services) produced in a year. 
C)  total market value of goods (but not services) produced in an economy in a year. 
D)  total market value of goods and services consumed in a year. 
E)  None of these definitions of GNI is correct. 
A)  total market value of goods and services provided in an economy in a year by residents of that country. 
B)  manufacturers' selling price of goods (but not services) produced in a year. 
C)  total market value of goods (but not services) produced in an economy in a year. 
D)  total market value of goods and services consumed in a year. 
E)  None of these definitions of GNI is correct.

Question 10

With respect to the age distribution of the U.S. population between 2000 and 2010,

Accepted Answer

A)  the size of the 18-29 age group rose more than 10 percent. 
B)  the size of the 45-64 age group increased more rapidly than any other group. 
C)  the size of the senior citizen group grew by 15 percent. 
D)  All of these are correct. 
A)  the size of the 18-29 age group rose more than 10 percent. 
B)  the size of the 45-64 age group increased more rapidly than any other group. 
C)  the size of the senior citizen group grew by 15 percent. 
D)  All of these are correct.

Question 11

The rate of growth of the U.S. population is lower than the rate of growth of some other countries' population.

Accepted Answer

A) True 
 B)False

Question 12

Screening criteria should be in quantitative form--based on factors such as profit and expected sales--so that they are objective and not subject to qualitative judgments and interpretations by different managers.

Accepted Answer

A) True 
 B)False

Question 13

A mission statement substitutes for more specific objectives.

Accepted Answer

A) True 
 B)False

Question 14

Safety standards for products such as bicycles are set by the:

Accepted Answer

A)  Consumer Product Safety Commission. 
B)  U.S. Department of Transportation. 
C)  Federal Trade Commission. 
D)  Environmental Protection Agency. 
E)  Food and Drug Administration. 
A)  Consumer Product Safety Commission. 
B)  U.S. Department of Transportation. 
C)  Federal Trade Commission. 
D)  Environmental Protection Agency. 
E)  Food and Drug Administration.

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Gross domestic product includes foreign income earned in a country.

Accepted Answer

A) True 
 B)False

Question 17

Along with studying trends in the environment, a first step in looking for attractive opportunities is to:

Accepted Answer

A)  understand the resources and objectives of the firm. 
B)  decide which product-markets the firm will enter. 
C)  find new markets for present products. 
D)  estimate product-market potentials. 
E)  hire a marketing strategy planner. 
A)  understand the resources and objectives of the firm. 
B)  decide which product-markets the firm will enter. 
C)  find new markets for present products. 
D)  estimate product-market potentials. 
E)  hire a marketing strategy planner.

Question 18

Product warranties are regulated by the Magnuson-Moss Act.

Accepted Answer

A) True 
 B)False

Question 19

Even though the more developed industrial nations don't have the largest populations, they do have the biggest share of the world's GDP.

Accepted Answer

A) True 
 B)False

Question 20

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.

When using screening criteria to evaluate opportunities:

The state with the largest population is

The Wheeler-Lea Amendment specifically aims at:

A T and T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones. Availability and popularity of cellular phones is most likely due to changes in the ____________ environments.

Of the following objectives, the LAST objective(s) that a firm should specify is its ______________ objective(s).

Pill Makers Pharmaceuticals extensively tests all of its drugs to assure that it follows the _____.

The greatest growth in the world's population over the next several years will come from:

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

Gross national income (GNI) is the:

With respect to the age distribution of the U.S. population between 2000 and 2010,

The rate of growth of the U.S. population is lower than the rate of growth of some other countries' population.

Screening criteria should be in quantitative form--based on factors such as profit and expected sales--so that they are objective and not subject to qualitative judgments and interpretations by different managers.

A mission statement substitutes for more specific objectives.

Safety standards for products such as bicycles are set by the:

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

Gross domestic product includes foreign income earned in a country.

Along with studying trends in the environment, a first step in looking for attractive opportunities is to:

Product warranties are regulated by the Magnuson-Moss Act.

Even though the more developed industrial nations don't have the largest populations, they do have the biggest share of the world's GDP.

The Robinson-Patman Act specifically aims at:

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

When using screening criteria to evaluate opportunities:

The state with the largest population is

The Wheeler-Lea Amendment specifically aims at:

A T and T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones. Availability and popularity of cellular phones is most likely due to changes in the ____________ environments.

Of the following objectives, the LAST objective(s) that a firm should specify is its ______________ objective(s).

Pill Makers Pharmaceuticals extensively tests all of its drugs to assure that it follows the _____.

The greatest growth in the world's population over the next several years will come from:

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

Gross national income (GNI) is the:

With respect to the age distribution of the U.S. population between 2000 and 2010,

The rate of growth of the U.S. population is lower than the rate of growth of some other countries' population.

Screening criteria should be in quantitative form--based on factors such as profit and expected sales--so that they are objective and not subject to qualitative judgments and interpretations by different managers.

A mission statement substitutes for more specific objectives.

Safety standards for products such as bicycles are set by the:

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

Gross domestic product includes foreign income earned in a country.

Along with studying trends in the environment, a first step in looking for attractive opportunities is to:

Product warranties are regulated by the Magnuson-Moss Act.

Even though the more developed industrial nations don't have the largest populations, they do have the biggest share of the world's GDP.

The Robinson-Patman Act specifically aims at:

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