Question 1

Which of the following statements regarding the Geek Squad is most accurate?

Accepted Answer

A)  Men who need help from the Geek Squad do not want women "Geeks" to help them because it makes them feel inferior. 
B)  The Geek Squad has exclusive rights to the home-help segment thanks to their relationship with Best Buy. 
C)  The Geek Squad can only assist customers who purchase Dell Computers. 
D)  The need for the Geek Squad was the result of many environmental factors, not simply a need for technological knowledge. 
E)  Although the Geek Squad brought more customers into Best Buy, the rate of product returns has only dropped a negligible amount. 
A)  Men who need help from the Geek Squad do not want women "Geeks" to help them because it makes them feel inferior. 
B)  The Geek Squad has exclusive rights to the home-help segment thanks to their relationship with Best Buy. 
C)  The Geek Squad can only assist customers who purchase Dell Computers. 
D)  The need for the Geek Squad was the result of many environmental factors, not simply a need for technological knowledge. 
E)  Although the Geek Squad brought more customers into Best Buy, the rate of product returns has only dropped a negligible amount.

Question 2

The factors that drive competition include

Accepted Answer

A)  monopolistic competition, cross-market competition, entry, and the bargaining power of buyers and suppliers. 
B)  cross-market competition, entry, the bargaining power of buyers and suppliers, and substitution possibilities. 
C)  monopolistic competition, cross-market competition, bargaining power of buyers and suppliers, existing rivalries. 
D)  entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities. 
E)  cross-market competition, entry, bargaining power of buyers and suppliers, substitution possibilities. 
A)  monopolistic competition, cross-market competition, entry, and the bargaining power of buyers and suppliers. 
B)  cross-market competition, entry, the bargaining power of buyers and suppliers, and substitution possibilities. 
C)  monopolistic competition, cross-market competition, bargaining power of buyers and suppliers, existing rivalries. 
D)  entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities. 
E)  cross-market competition, entry, bargaining power of buyers and suppliers, substitution possibilities.

Question 3

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

Accepted Answer

A)  the gray market 
B)  baby busters 
C)  Generation X 
D)  the baby boomerang 
E)  millennials 
A)  the gray market 
B)  baby busters 
C)  Generation X 
D)  the baby boomerang 
E)  millennials

Question 4

Income used to buy luxury items such as a voyage aboard the Queen Mary 2 offered by Cunard referred to as

Accepted Answer

A)  gross income. 
B)  disposable income. 
C)  surplus income. 
D)  wealth income. 
E)  discretionary income. 
A)  gross income. 
B)  disposable income. 
C)  surplus income. 
D)  wealth income. 
E)  discretionary income.

Question 5

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Accepted Answer

A)  electronic commerce. 
B)  internet barter. 
C)  intranet exchange. 
D)  electronic exchange. 
E)  extranet trade. 
A)  electronic commerce. 
B)  internet barter. 
C)  intranet exchange. 
D)  electronic exchange. 
E)  extranet trade.

Question 6

Competition refers to

Accepted Answer

A)  identical products that perform identical functions. 
B)  any for-profit organization that targets the customers of other organizations. 
C)  alternative firms that could provide a product to satisfy a specific market's needs. 
D)  any product or service that vies for a portion of a customer's discretionary income. 
E)  the set of firms that operate in a given geographic region, regardless of product or service. 
A)  identical products that perform identical functions. 
B)  any for-profit organization that targets the customers of other organizations. 
C)  alternative firms that could provide a product to satisfy a specific market's needs. 
D)  any product or service that vies for a portion of a customer's discretionary income. 
E)  the set of firms that operate in a given geographic region, regardless of product or service.

Question 7

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Accepted Answer

A)  Robinson-Patman Act 
B)  Clayton Act 
C)  Digital Millennium Copyright Act 
D)  FTC Act 
E)  Consumer Product Safety Act 
A)  Robinson-Patman Act 
B)  Clayton Act 
C)  Digital Millennium Copyright Act 
D)  FTC Act 
E)  Consumer Product Safety Act

Question 8

The 50 million people born between 1965 and 1980, a period also known as the baby bust, are referred to as

Accepted Answer

A)  Generation X. 
B)  millennials. 
C)  Generation Y. 
D)  Generation Z. 
E)  baby boomers. 
A)  Generation X. 
B)  millennials. 
C)  Generation Y. 
D)  Generation Z. 
E)  baby boomers.

Question 9

A software manufacturer will only sell its popular line of Pokémon software games to retailers who will also carry its less successful Hello Kitty software game. This is an example of

Accepted Answer

A)  exclusive dealing. 
B)  a tying arrangement. 
C)  a selective promotion contract. 
D)  an exclusive territorial distributorship. 
E)  a requirement contract 
A)  exclusive dealing. 
B)  a tying arrangement. 
C)  a selective promotion contract. 
D)  an exclusive territorial distributorship. 
E)  a requirement contract

Question 10

The Lemon Tree is a high-fashion boutique selling top-of-the-line women's clothing and accessories. The keys to its success include knowing customers' changing tastes and providing something different than other retailers. In addition, because of demanding clientele, The Lemon Tree's management is investing in the use of one-to-one marketing and artificial intelligence. The least important environmental force to The Lemon Tree at this time is likely to be

Accepted Answer

A)  economic. 
B)  competitive. 
C)  technological. 
D)  social. 
E)  regulatory. 
A)  economic. 
B)  competitive. 
C)  technological. 
D)  social. 
E)  regulatory.

Question 11

Because there are few sellers, price competition among firms is avoided in which form of competition?

Accepted Answer

A)  pure competition 
B)  cross-market competition 
C)  a monopoly 
D)  monopolistic competition 
E)  an oligopoly 
A)  pure competition 
B)  cross-market competition 
C)  a monopoly 
D)  monopolistic competition 
E)  an oligopoly

Question 12

Though definitions are inconsistent, Generation Y, and especially its younger members, are frequently associated with

Accepted Answer

A)  the echo-bust. 
B)  baby boomers. 
C)  baby busters. 
D)  the revolution generation. 
E)  millennials. 
A)  the echo-bust. 
B)  baby boomers. 
C)  baby busters. 
D)  the revolution generation. 
E)  millennials.

Question 13

All of the following federal laws are designed to protect consumers except which?

Accepted Answer

A)  Consumer Product Safety Act 
B)  FTC Act of 1914 
C)  Nutritional Labeling and Education Act 
D)  Digital Millennium Copyright Act 
E)  Child Protection Act 
A)  Consumer Product Safety Act 
B)  FTC Act of 1914 
C)  Nutritional Labeling and Education Act 
D)  Digital Millennium Copyright Act 
E)  Child Protection Act

Question 14

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as

Accepted Answer

A)  consumer group profiling. 
B)  demographics. 
C)  behavioral analysis. 
D)  psychographics. 
E)  statistical analysis. 
A)  consumer group profiling. 
B)  demographics. 
C)  behavioral analysis. 
D)  psychographics. 
E)  statistical analysis.

Question 15

Projections show that the population is

Accepted Answer

A)  growing rapidly in North America. 
B)  declining sharply in Australia. 
C)  decreasing in most African nations. 
D)  increasing in India. 
E)  increasing in Eastern Europe. 
A)  growing rapidly in North America. 
B)  declining sharply in Australia. 
C)  decreasing in most African nations. 
D)  increasing in India. 
E)  increasing in Eastern Europe.

Question 16

Baby boomers can be defined as the generation born

Accepted Answer

A)  between 1918 and 1945. 
B)  between 1946 and 1964. 
C)  between 1965 and 1980. 
D)  between 1981 and 1996. 
E)  between 1997 and 2010. 
A)  between 1918 and 1945. 
B)  between 1946 and 1964. 
C)  between 1965 and 1980. 
D)  between 1981 and 1996. 
E)  between 1997 and 2010.

Question 17

Competitive pressures among existing firms depend on

Accepted Answer

A)  the current economic growth rate. 
B)  the total number of established competitors. 
C)  low fixed costs. 
D)  the rate of industry growth. 
E)  the availability of raw materials and natural resources. 
A)  the current economic growth rate. 
B)  the total number of established competitors. 
C)  low fixed costs. 
D)  the rate of industry growth. 
E)  the availability of raw materials and natural resources.

Question 18

The Electronic Signatures in Global and National Commerce Act makes digital signatures as valid as pen-and-ink signatures. This act created a demand for software and hardware that would collect, transmit, and receive digital signatures. This example indicates how ________ forces can work together in the marketing environment.

Accepted Answer

A)  technological and regulatory 
B)  technological and competitive 
C)  social and competitive 
D)  social and economic 
E)  regulatory and economic 
A)  technological and regulatory 
B)  technological and competitive 
C)  social and competitive 
D)  social and economic 
E)  regulatory and economic

Question 19

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Accepted Answer

The Sherman Antitrust Act (1890) was the

Question 20

In 2002, Geek Squad was purchased by leading retailer

Accepted Answer

A)  Target. 
B)  Best Buy. 
C)  Apple. 
D)  Amazon. 
E)  GameStop. 
A)  Target. 
B)  Best Buy. 
C)  Apple. 
D)  Amazon. 
E)  GameStop.

Exam 3: Scanning the Marketing Environment

Which of the following statements regarding the Geek Squad is most accurate?

The factors that drive competition include

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

Income used to buy luxury items such as a voyage aboard the Queen Mary 2 offered by Cunard referred to as

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Competition refers to

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

The 50 million people born between 1965 and 1980, a period also known as the baby bust, are referred to as

A software manufacturer will only sell its popular line of Pokémon software games to retailers who will also carry its less successful Hello Kitty software game. This is an example of

Because there are few sellers, price competition among firms is avoided in which form of competition?

Though definitions are inconsistent, Generation Y, and especially its younger members, are frequently associated with

All of the following federal laws are designed to protect consumers except which?

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as

Projections show that the population is

Baby boomers can be defined as the generation born

Competitive pressures among existing firms depend on

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

In 2002, Geek Squad was purchased by leading retailer

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: the Strategic Marketing Proces

Building an Effective Marketing Plan

Financial Aspects of Marketing

Filters