Question 1

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 2

Which of the following countries have the HIGHEST GNI PER CAPITA?

Accepted Answer

A)  Saudi Arabia and Iran 
B)  Mexico and Spain 
C)  United States and Switzerland 
D)  India and China 
E)  Japan and Germany

Question 3

A (n)________ is a marketing mix that customers see as better than a competitor's mix and cannot be quickly or easily copied.

Accepted Answer

A)  resource combination 
B)  sustainable competitive advantage 
C)  objective-centered approach 
D)  competitor analysis plan 
E)  competitor matrix

Question 4

The inflation rate experienced by the United States in recent years was just about the highest in the world.

Accepted Answer

A) True 
 B)False

Question 5

AT&T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones.Availability and popularity of cellular phones is most likely due to changes in the ____________ environments.

Accepted Answer

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

Question 6

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 7

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 8

Product-market screening criteria should:

Accepted Answer

A)  be qualitative. 
B)  summarize in one place what the firm wants to accomplish. 
C)  be achievable. 
D)  be stated in quantitative terms. 
E)  All of these are correct.

Question 9

Nike claims in its Annual Report,"The reasons every Nike employee comes to work every day are to create great product,to lead the athletic industry in innovation,and to serve the athlete." This is Nike's ________.

Accepted Answer

A)  competitive analysis 
B)  technology environment 
C)  portfolio management 
D)  objective analysis 
E)  mission statement

Question 10

Increased demand for new homes due to low interest rates is an example of the impact of the ________ environment.

Accepted Answer

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

Question 11

In the political environment,an emphasis on a single country's interests before everything else is called:

Accepted Answer

A)  Elitism. 
B)  Socialism. 
C)  Extremism. 
D)  Regionalism. 
E)  Nationalism.

Question 12

Generation Z is described as "digital natives."

Accepted Answer

A) True 
 B)False

Question 13

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 14

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 15

Consumer emphasis on fitness has created opportunities for firms like Nike,Nautilus and Schwinn,and illustrates the impact of the changing:

Accepted Answer

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

Question 16

In the short run,a marketing manager usually cannot control:

Accepted Answer

A)  the competitive environment. 
B)  the cultural environment. 
C)  the legal environment. 
D)  the economic environment. 
E)  Any of these environments are uncontrollable in the short run.

Question 17

The scientific way in which an economy's resources are converted to output is part of the ________ environment.

Accepted Answer

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

Question 18

An emphasis on a single country's interests before everything else is known as ________.

Accepted Answer

A)  socialism 
B)  democracy 
C)  nationalism 
D)  capitalism 
E)  entrepreneurship

Question 19

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.

Question 20

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

Exam 5: Evaluating Opportunities in the Changing Market Environment

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.

Which of the following countries have the HIGHEST GNI PER CAPITA?

A (n) ________ is a marketing mix that customers see as better than a competitor's mix and cannot be quickly or easily copied.

The inflation rate experienced by the United States in recent years was just about the highest in the world.

AT&T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones.Availability and popularity of cellular phones is most likely due to changes in the ____________ environments.

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

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

Product-market screening criteria should:

Nike claims in its Annual Report,"The reasons every Nike employee comes to work every day are to create great product,to lead the athletic industry in innovation,and to serve the athlete." This is Nike's ________.

Increased demand for new homes due to low interest rates is an example of the impact of the ________ environment.

In the political environment,an emphasis on a single country's interests before everything else is called:

Generation Z is described as "digital natives."

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

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).

Consumer emphasis on fitness has created opportunities for firms like Nike,Nautilus and Schwinn,and illustrates the impact of the changing:

In the short run,a marketing manager usually cannot control:

The scientific way in which an economy's resources are converted to output is part of the ________ environment.

An emphasis on a single country's interests before everything else is known as ________.

Evaluating opportunities in international markets is uniquely challenging for managers because:

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