Question 1

Both GDP and GNI measures of national income.

Accepted Answer

A) True 
 B)False

Question 2

GE's planning grid approach

Accepted Answer

A)  doesn't work because different managers usually come to different conclusions given the subjective evaluations involved. 
B)  is really the same thing as the total profit approach. 
C)  overemphasizes short term profitability. 
D)  is superficial because it considers only size and expected market share, and ignores other possibly important factors. 
E)  could be adapted easily by another firm with different objectives.

Question 3

Gross domestic product is the total dollar value of a country's exports during a one year period.

Accepted Answer

A) True 
 B)False

Question 4

There are over 310 million people living in the United States.

Accepted Answer

A) True 
 B)False

Question 5

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.

Question 6

A ________ is an organized table that compares the strengths and weaknesses of a company with those of its competitive rivals.

Accepted Answer

A)  competitive advantage 
B)  competitor matrix 
C)  insight table 
D)  positioning graph 
E)  competitor analysis

Question 7

Smaller producers always have a great advantage in competing with larger producers because of their flexibility.

Accepted Answer

A) True 
 B)False

Question 8

Product-market screening criteria should be:

Accepted Answer

A)  quantitative. 
B)  qualitative. 
C)  realistic and achievable. 
D)  all of these are correct.

Question 9

The "total profit" approach to evaluating possible product-market strategic plans:

Accepted Answer

A)  is the best approach to use. 
B)  cannot be used to compare possible plans unless they are very similar. 
C)  may support a plan that is not the most profitable in the short run. 
D)  requires only sales forecasts for the life of possible plans.

Question 10

The move of the "Baby Boomers" into the 45-64 age group:

Accepted Answer

A)  increased the average age of the population. 
B)  created new opportunities in financial services. 
C)  contributed to increased interest in health and fitness products. 
D)  All of these are correct

Question 11

In the short run at least, which of the following is usually beyond the control of the marketing manager?

Accepted Answer

A)  Political and legal environments. 
B)  Economic environment. 
C)  Cultural and social environment. 
D)  Competitive environment. 
E)  All of these environments are beyond the control of the marketing manager in the short run.

Question 12

In which of the external environments changes usually occur most slowly?

Accepted Answer

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

Question 13

All of the following are examples of quantitative components of screening criteria that are used to narrow down to marketing strategies EXCEPT:

Accepted Answer

A)  market share. 
B)  number of units sold. 
C)  strengths of the company. 
D)  annual projected sales dollars. 
E)  projected profit.

Question 14

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.

Question 15

As of 2011, which one of the following countries does not have more than 80% of its population using the Internet?

Accepted Answer

A)  Norway 
B)  Germany 
C)  United States 
D)  Finland 
E)  All of these countries have more than 80% of its population using the Internet

Question 16

More women working outside the home and greater interest in leisure are examples of changes in the ______________ environment.

Accepted Answer

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

Question 17

Rising costs and inflation are part of the uncontrollable ______________ environment.

Accepted Answer

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

Question 18

When the dollar is strong in international exchange, it is easier to sell U.S. products in overseas markets.

Accepted Answer

A) True 
 B)False

Question 19

With the "unification of Europe":

Accepted Answer

A)  many of the taxes and rules that have limited trade among member countries of the European Union were eliminated. 
B)  the need to adjust strategies to reach submarkets of European consumers disappeared. 
C)  firms operating in Europe have harder access to large markets. 
D)  consumer prices rose.

Question 20

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.

Accepted Answer

A) True 
 B)False

Exam 3: Evaluating Opportunities in the Changing Market Environment

Both GDP and GNI measures of national income.

GE's planning grid approach

Gross domestic product is the total dollar value of a country's exports during a one year period.

There are over 310 million people living in the United States.

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

A ________ is an organized table that compares the strengths and weaknesses of a company with those of its competitive rivals.

Smaller producers always have a great advantage in competing with larger producers because of their flexibility.

Product-market screening criteria should be:

The "total profit" approach to evaluating possible product-market strategic plans:

The move of the "Baby Boomers" into the 45-64 age group:

In the short run at least, which of the following is usually beyond the control of the marketing manager?

In which of the external environments changes usually occur most slowly?

All of the following are examples of quantitative components of screening criteria that are used to narrow down to marketing strategies EXCEPT:

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?

As of 2011, which one of the following countries does not have more than 80% of its population using the Internet?

More women working outside the home and greater interest in leisure are examples of changes in the ______________ environment.

Rising costs and inflation are part of the uncontrollable ______________ environment.

When the dollar is strong in international exchange, it is easier to sell U.S. products in overseas markets.

With the "unification of Europe":

The fastest rate of growth in GDP is occurring in the nations with the largest current GDP.