Question 1

The U.S. does not have the largest population of any country in the world, but it does have the largest population growth rate.

Accepted Answer

A) True 
 B)False

Question 2

When looking for attractive opportunities, a marketing manager should consider:

Accepted Answer

A)  the firm's producing capability and flexibility. 
B)  the firm's financial strengths. 
C)  whether the firm has good relations with established intermediaries. 
D)  the firm's marketing strengths. 
E)  All of these should be considered.

Question 3

Many people think that it is unethical to spy on competitors to obtain their trade secrets, but it is perfectly legal.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A)  Seniors 
B)  Gen X 
C)  Boomers 
D)  Busters 
E)  Gen Y

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Most changes in the cultural and social environment come slowly.

Accepted Answer

A) True 
 B)False

Question 7

A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.

Accepted Answer

A) True 
 B)False

Question 8

Regarding population density in the world,

Accepted Answer

A)  high-population density occurs only in highly developed economies. 
B)  some Western European and Asian urban areas are more crowded than U.S. urban areas. 
C)  the United States is the only country with crowded urban areas. 
D)  there is a worldwide movement back to rural areas. 
E)  None of these is correct regarding population density in the world.

Question 9

Technology provides new opportunities and new challenges for marketers.

Accepted Answer

A) True 
 B)False

Question 10

Marketers should be aware of federal legislation, as well as state and local laws, when planning marketing strategy.

Accepted Answer

A) True 
 B)False

Question 11

The Sherman Act sought to:

Accepted Answer

A)  prevent monopolies or conspiracies in restraint of trade. 
B)  establish the Federal Consumer Protection Agency. 
C)  eliminate price differences among different competing suppliers. 
D)  prevent fraud on the Internet. 
E)  restrict importing into the United States.

Question 12

Regarding the current legal environment facing U.S. marketing managers:

Accepted Answer

A)  state and local laws vary but contain important regulations. 
B)  food and drugs are now controlled. 
C)  product safety is now controlled. 
D)  businesses and individual managers are subject to both criminal and civil laws. 
E)  all of these statements about the legal environment are correct.

Question 13

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.

Question 14

Regarding population growth in the world,

Accepted Answer

A)  population growth in Japan and Europe is even slower than in the U.S. 
B)  less-developed countries generally experience the fastest growth. 
C)  the populations of Ethiopia, Nigeria, and Somalia will likely increase by 40 percent or more between 2010 and 2025 while the populations of the U.S. and Canada will grow by 14% or less. 
D)  All of these are true regarding world population growth.

Question 15

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)  can use quantitative data but it is basically a qualitative approach. 
E)  All of these alternatives about GE's Planning Grid are true.

Question 16

Which of the following U.S. antimonopoly laws deals with "tying contracts" where the sale of one product is contingent on the business customer purchasing other products from the same supplier?

Accepted Answer

A)  Sherman Act (1890) 
B)  Robinson-Patman Act (1936) 
C)  Antimerger Act (1950) 
D)  Wheeler-Lea Amendment (1938) 
E)  Clayton Act (1914)

Question 17

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

Question 18

A useful tool for organizing the competitor analysis is:

Accepted Answer

A)  the table of competitive rivals. 
B)  rivals chart. 
C)  the oligopoly chart. 
D)  a competitor matrix. 
E)  the competitive summary.

Question 19

Regional groupings of nations outside the United States have little effect on the decisions of marketing managers whose firms are headquartered in the U.S.

Accepted Answer

A) True 
 B)False

Question 20

If the risks of getting into international marketing are difficult to evaluate, it may be wise to start with exporting.

Accepted Answer

A) True 
 B)False

Exam 3: Evaluating Opportunities in the Changing Market Environment

The U.S. does not have the largest population of any country in the world, but it does have the largest population growth rate.

When looking for attractive opportunities, a marketing manager should consider:

Many people think that it is unethical to spy on competitors to obtain their trade secrets, but it is perfectly legal.

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

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

Most changes in the cultural and social environment come slowly.

A mission statement sets out the strengths and weaknesses of a firm as well as the opportunities and threats that it faces.

Regarding population density in the world,

Technology provides new opportunities and new challenges for marketers.

Marketers should be aware of federal legislation, as well as state and local laws, when planning marketing strategy.

The Sherman Act sought to:

Regarding the current legal environment facing U.S. marketing managers:

The Wheeler-Lea Amendment specifically aims at:

Regarding population growth in the world,

GE's Planning Grid approach to evaluating proposed and existing plans and businesses:

Which of the following U.S. antimonopoly laws deals with "tying contracts" where the sale of one product is contingent on the business customer purchasing other products from the same supplier?

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

A useful tool for organizing the competitor analysis is:

Regional groupings of nations outside the United States have little effect on the decisions of marketing managers whose firms are headquartered in the U.S.

If the risks of getting into international marketing are difficult to evaluate, it may be wise to start with exporting.