Question 1

The marketing manager can control the variables in the market environment.

Accepted Answer

A) True 
 B)False  False

Question 2

The competitive environment that most marketing managers experience in developed economies is

Accepted Answer

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

Question 3

American economic and legislative thinking is based on the idea that

Accepted Answer

A)  encouraging competition harms the 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. B

Question 4

Gen X is smaller in number when compared to the Baby Boomers that came before.

Accepted Answer

A) True 
 B)False

Question 5

The Sherman Act deals with tying contracts,exclusive dealing contracts,and price discrimination by manufacturers.

Accepted Answer

A) True 
 B)False

Question 6

In monopolistic competition,managers sometimes try to differentiate very similar products by relying on promotion or other elements of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 7

The GE "stoplight" evaluation method is a very objective approach because GE feels there are too many possible errors if it tries to use subjective criteria for judging "attractiveness" or "strength."

Accepted Answer

A) True 
 B)False

Question 8

Product warranties are the focus of the ________ Act.

Accepted Answer

A)  Lemon
B)  Magnuson-Moss
C)  Sherman
D)  Federal Trade Commission
E)  Robinson-Patman

Question 9

The Magnuson-Moss Act regulates product warranties.

Accepted Answer

A) True 
 B)False

Question 10

GE's strategic planning grid considers two dimensions-industry attractiveness and business strengths-to identify opportunities that may be categorized as growth,borderline,or no growth.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A)  basic commodity-type consumer products
B)  industrial products
C)  consumer products that are tied to cultural variables
D)  consumer products closely linked to social variables
E)  international products

Question 12

Technology affects marketing through new products and new processes.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is true of the economic environment?

Accepted Answer

A)  It has no relationship to the technological environment.
B)  It is not affected by the way the parts of the macro-marketing system interact.
C)  It refers to micro-economic factors that do not affect business spending.
D)  It can change very rapidly.
E)  It never requires marketing managers to make immediate changes in strategy.

Question 14

Which of the following is true of the Sherman Act?

Accepted Answer

A)  It was intended to protect large producers.
B)  It was passed to prohibit deceptive pricing.
C)  It was passed after the Depression of the 1930s.
D)  It was passed just after the Antimerger Act of 1950.
E)  It was aimed at efforts to restrain trade or lessen competition.

Question 15

Gross national income (GNI)

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 measure similar to GDP,but it does not include income earned by foreigners who own resources in that nation.
D)  is the total market value of services,but not goods,produced in a year.
E)  All these answers are correct.

Question 16

Which statement pertaining to GNI per capita is NOT true?

Accepted Answer

A)  The GNI per capita in the United States is the highest in the world.
B)  The GNI per capita is quite high in the United States,Japan,and Germany.
C)  GNI per capita gives some idea of the income level of people in that country.
D)  Many managers see great potential in countries where GNI per capita is low.
E)  Managers see less competition where GNI per capita is low.

Question 17

A "Buy American" campaign is an example of

Accepted Answer

A)  transnationalism.
B)  nationalism.
C)  environmentalism.
D)  consumerism.
E)  federalism.

Question 18

Although the marketing manager cannot control the competitive environment,he or she can choose strategies that will avoid head-on situations.

Accepted Answer

A) True 
 B)False

Question 19

Laws such as the Pure Food and Drug Act were passed because pro-competition legislation did not protect consumers very well in some areas.

Accepted Answer

A) True 
 B)False

Question 20

The Sherman Act is primarily designed to

Accepted Answer

A)  prevent monopolies or conspiracies in restraint of trade.
B)  stop the flow of foreign products into the United States.
C)  prevent unfair or deceptive acts or practices in commerce.
D)  reduce price discrimination by manufacturers.
E)  eliminate deceptive selling practices.

Exam 3: Evaluating Opportunities in the Changing Market Environment

The marketing manager can control the variables in the market environment.

The competitive environment that most marketing managers experience in developed economies is

American economic and legislative thinking is based on the idea that

Gen X is smaller in number when compared to the Baby Boomers that came before.

The Sherman Act deals with tying contracts,exclusive dealing contracts,and price discrimination by manufacturers.

In monopolistic competition,managers sometimes try to differentiate very similar products by relying on promotion or other elements of the marketing mix.

The GE "stoplight" evaluation method is a very objective approach because GE feels there are too many possible errors if it tries to use subjective criteria for judging "attractiveness" or "strength."

Product warranties are the focus of the ________ Act.

The Magnuson-Moss Act regulates product warranties.

GE's strategic planning grid considers two dimensions-industry attractiveness and business strengths-to identify opportunities that may be categorized as growth,borderline,or no growth.

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

Technology affects marketing through new products and new processes.

Which of the following is true of the economic environment?

Which of the following is true of the Sherman Act?

Gross national income (GNI)

Which statement pertaining to GNI per capita is NOT true?

A "Buy American" campaign is an example of

Although the marketing manager cannot control the competitive environment,he or she can choose strategies that will avoid head-on situations.

Laws such as the Pure Food and Drug Act were passed because pro-competition legislation did not protect consumers very well in some areas.

The Sherman Act is primarily designed to