Question 1

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 2

In a competitor analysis, a current (or planned) target market and marketing mix is compared with what competitors are currently doing (or are likely to do).

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is an example of the cultural and social environment?

Accepted Answer

A)  Growing acceptance of women in business. 
B)  Growing popularity of exercise. 
C)  Increased desire for satisfaction with life. 
D)  All of these are examples of the cultural and social environment.

Question 4

Less-developed countries usually experience the slowest population growth.

Accepted Answer

A) True 
 B)False

Question 5

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "high" in terms of business strengths would be evaluated as:

Accepted Answer

A)  yellow-borderline. 
B)  red-for no growth. 
C)  green-for growth. 
D)  could be yellow, red, or green-because the grid suggests that opportunities with medium ratings need more analysis.

Question 6

Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"?

Accepted Answer

A)  Industrial products. 
B)  Commodity-type consumer products. 
C)  Consumer products linked to cultural variables. 
D)  "Me-too" products. 
E)  Fad products.

Question 7

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

Accepted Answer

A) True 
 B)False

Question 8

A mission statement should focus on just the key goals for the organization.

Accepted Answer

A) True 
 B)False

Question 9

In Argentina, Israel, and Singapore, for example, less than 20 percent of people live in urban areas.

Accepted Answer

A) True 
 B)False

Question 10

The ____ prohibits exclusive dealing contracts.

Accepted Answer

A)  Antimerger Act 
B)  Clayton Act 
C)  Magnuson-Moss Act 
D)  Wheeler-Lea Amendment 
E)  Federal Trade Commission Act

Question 11

A mission statement can help a manager decide which opportunities to pursue and which to screen out.

Accepted Answer

A) True 
 B)False

Question 12

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.

Question 13

Competitive rivals are always easy to identify.

Accepted Answer

A) True 
 B)False

Question 14

Marketers no longer encounter differences among European countries.

Accepted Answer

A) True 
 B)False

Question 15

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 16

The political environment may either block or promote new marketing opportunities.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements about the legal environment in the United States is not true?

Accepted Answer

A)  Individual managers are not subject to criminal penalties-only their employer can be punished. 
B)  Consumer protection laws are not new. 
C)  Many laws try to promote competition among firms. 
D)  A commission has authority to oversee product safety. 
E)  The Food and Drug Administration controls manufacturers of these products.

Question 18

Technology is the application of voodoo to convert an economy's resources to output.

Accepted Answer

A) True 
 B)False

Question 19

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 20

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.

Accepted Answer

A) True 
 B)False

Exam 3: Evaluating Opportunities in the Changing Market Environment

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

In a competitor analysis, a current (or planned) target market and marketing mix is compared with what competitors are currently doing (or are likely to do).

Which of the following is an example of the cultural and social environment?

Less-developed countries usually experience the slowest population growth.

Using General Electric's "strategic planning grid," an opportunity rated "medium" in terms of industry attractiveness and "high" in terms of business strengths would be evaluated as:

Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"?

Nationalism may affect marketing strategy planning by determining to whom and how much a firm may sell.

A mission statement should focus on just the key goals for the organization.

In Argentina, Israel, and Singapore, for example, less than 20 percent of people live in urban areas.

The ____ prohibits exclusive dealing contracts.

A mission statement can help a manager decide which opportunities to pursue and which to screen out.

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

Competitive rivals are always easy to identify.

Marketers no longer encounter differences among European countries.

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.

The political environment may either block or promote new marketing opportunities.

Which of the following statements about the legal environment in the United States is not true?

Technology is the application of voodoo to convert an economy's resources to output.

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.

Competitor analysis is an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.