Question 1

There are over 316 million people living in the United States.

Accepted Answer

A) True 
 B)False

Question 2

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.

Question 3

Which of the following population groups is the most techno-savvy?

Accepted Answer

A) seniors 
B) Gen X 
C) Baby Boomers 
D) Gen Y

Question 4

The General Electric "strategic planning grid" forces company managers to make three-part judgments (high,medium,and low)about the business strengths and industry attractiveness of all proposed or existing product-market plans.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is true of Generation Z?

Accepted Answer

A) It is the generation born immediately following the Baby Boom. 
B) People belonging to this generation are also called Millennials. 
C) This group tends to have optimistic,as opposed to realistic,views of the world. 
D) This group is a part of a more ethnically diverse United States than their parents. 
E) This group appears to be less accepting of different cultures,races,and religions.

Question 6

Because almost all of the world's population can read and write,international marketers have no problems in communicating with potential customers,no matter where they live.

Accepted Answer

A) True 
 B)False

Question 7

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 8

Sustainability,as a screening criterion,supports the idea of focusing completely on a company's present needs.

Accepted Answer

A) True 
 B)False

Question 9

GE's planning grid approach to evaluating proposed and existing plans and businesses

Accepted Answer

A) considers how profitable opportunities are likely to be. 
B) reflects the corporation's objectives. 
C) helps managers see why some ideas are supported and others are not. 
D) is a subjective,multiple-factor approach. 
E) All these answers are correct.

Question 10

Using the General Electric strategic planning grid,an opportunity rated "medium" in terms of both industry attractiveness and business strengths is an opportunity that the firm should always avoid.

Accepted Answer

A) True 
 B)False

Question 11

Between 2010 and 2020,the highest growth rate in population in the United States occurred in

Accepted Answer

A) the western states. 
B) the northeastern states. 
C) the northwestern states. 
D) the midwestern states.

Question 12

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

Question 13

When planning a marketing strategy,managers have control over

Accepted Answer

A) the political and legal environment. 
B) the cultural and social environment. 
C) the economic environment. 
D) their response to forces in the external market environment. 
E) consumers.

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Despite the Antimerger Act,there has been some leniency in allowing mergers between firms that have been competitors.When considering a merger,companies should take this aspect of the ________ environments into consideration.

Accepted Answer

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

Question 16

The market situation in which one firm completely controls a broad product-market is called

Accepted Answer

A) monopoly. 
B) oligopoly. 
C) pure competition. 
D) monopolistic competition. 
E) collectivist competition.

Question 17

The environment that affects the number and types of competitors a marketing manager must face and how they might behave is called the ________ environment.

Accepted Answer

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

Question 18

If you go into a restaurant in Vienna,Austria,and ask for a Diet Coke,the waiter may have no idea what you are ordering.This is an example of which area of the external market environment?

Accepted Answer

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

Question 19

Which statement about the median age of the U.S.population is true?

Accepted Answer

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

Question 20

Evaluating opportunities in international markets is uniquely challenging for managers because

Accepted Answer

A) international variables are confusing and unfamiliar to outsiders. 
B) there are so many opportunities from which to choose. 
C) marketing in other countries is entirely different from marketing in a domestic setting. 
D) international consumers rarely share the same needs. 
E) other nations do not welcome foreign businesses.

Exam 3: Evaluating Opportunities in the Changing Market Environment

There are over 316 million people living in the United States.

The direct market environment

Which of the following population groups is the most techno-savvy?

The General Electric "strategic planning grid" forces company managers to make three-part judgments (high,medium,and low)about the business strengths and industry attractiveness of all proposed or existing product-market plans.

Which of the following is true of Generation Z?

Because almost all of the world's population can read and write,international marketers have no problems in communicating with potential customers,no matter where they live.

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

Sustainability,as a screening criterion,supports the idea of focusing completely on a company's present needs.

GE's planning grid approach to evaluating proposed and existing plans and businesses

Using the General Electric strategic planning grid,an opportunity rated "medium" in terms of both industry attractiveness and business strengths is an opportunity that the firm should always avoid.

Between 2010 and 2020,the highest growth rate in population in the United States occurred in

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

When planning a marketing strategy,managers have control over

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

Despite the Antimerger Act,there has been some leniency in allowing mergers between firms that have been competitors.When considering a merger,companies should take this aspect of the ________ environments into consideration.

The market situation in which one firm completely controls a broad product-market is called

The environment that affects the number and types of competitors a marketing manager must face and how they might behave is called the ________ environment.

If you go into a restaurant in Vienna,Austria,and ask for a Diet Coke,the waiter may have no idea what you are ordering.This is an example of which area of the external market environment?

Which statement about the median age of the U.S.population is true?

Evaluating opportunities in international markets is uniquely challenging for managers because