Question 1

The total amount of money made in one year by a person, household, or family unit is referred to as ________ income.

Accepted Answer

A)  government 
B)  discretionary 
C)  disposable 
D)  gross 
E)  livable 
A)  government 
B)  discretionary 
C)  disposable 
D)  gross 
E)  livable

Question 2

In an inflationary economy, the cost to produce and buy products and services ________ as prices ________.

Accepted Answer

A)  increases; increase 
B)  increases; decrease 
C)  decreases; increase 
D)  decreases; decrease 
E)  does not change; increase 
A)  increases; increase 
B)  increases; decrease 
C)  decreases; increase 
D)  decreases; decrease 
E)  does not change; increase

Question 3

Barriers to entry refer to

Accepted Answer

A)  governmental prohibitions regarding the establishment of businesses that are considered immoral. 
B)  governmental prohibitions regarding the establishment of businesses that are considered legal but unethical. 
C)  strong-armed tactics that are illegal but commonly used in certain industries to hinder competition. 
D)  business practices that make it difficult for new firms to enter the market. 
E)  restrictions against certain consumers' purchase of a product. 
A)  governmental prohibitions regarding the establishment of businesses that are considered immoral. 
B)  governmental prohibitions regarding the establishment of businesses that are considered legal but unethical. 
C)  strong-armed tactics that are illegal but commonly used in certain industries to hinder competition. 
D)  business practices that make it difficult for new firms to enter the market. 
E)  restrictions against certain consumers' purchase of a product.

Question 4

Discretionary income refers to

Accepted Answer

A)  the money deducted from a person's paycheck to pay for federal, state, and local taxes. 
B)  the total amount of money made by a single individual during his or her lifetime. 
C)  the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation. 
D)  the money that is spent for necessities or charitable causes that is exempt from taxation. 
E)  the money that remains after paying for taxes and necessities. 
A)  the money deducted from a person's paycheck to pay for federal, state, and local taxes. 
B)  the total amount of money made by a single individual during his or her lifetime. 
C)  the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation. 
D)  the money that is spent for necessities or charitable causes that is exempt from taxation. 
E)  the money that remains after paying for taxes and necessities.

Question 5

A sudden drop in the average consumer income would be an example of which environmental force?

Accepted Answer

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

Question 6

Whereas the original printer version of More magazine was targeted at older, well-heeled women, a newer digital-only version of the brand is aimed at a much younger audience: "More is a collection of voices-from today's most influential bloggers and social media stars to the brands readers love and live by. It's content by Millennials, for Millennials." Demand for such magazines is an example of how changing ________ characteristics impact the marketing environment.

Accepted Answer

A)  cultural 
B)  behavioral 
C)  psychographic 
D)  occupational 
E)  demographic 
A)  cultural 
B)  behavioral 
C)  psychographic 
D)  occupational 
E)  demographic

Question 7

Coca-Cola has hired brand police to make sure that the Coca-Cola brand name and logo are not used without written permission. Why is Coca-Cola so rigorous in protecting its trademark?

Accepted Answer

A)  Coca-Cola risks losing its generic status. 
B)  In order to maintain the use of its widely recognizable trademark, Coca-Cola must prevent the name from becoming generic. 
C)  The Robinson-Patman Act conferred ownership of the Coke name and other trademarked property to the Coca-Cola Co. 
D)  The government will file charges for trademark infringement only if the owner of the trademark has documented proof of wrongdoing. 
E)  By protecting its trademark, Coca-Cola is protecting the entire soft drink industry from indirect competition. 
A)  Coca-Cola risks losing its generic status. 
B)  In order to maintain the use of its widely recognizable trademark, Coca-Cola must prevent the name from becoming generic. 
C)  The Robinson-Patman Act conferred ownership of the Coke name and other trademarked property to the Coca-Cola Co. 
D)  The government will file charges for trademark infringement only if the owner of the trademark has documented proof of wrongdoing. 
E)  By protecting its trademark, Coca-Cola is protecting the entire soft drink industry from indirect competition.

Question 8

One reason some people don't like to buy clothing from Internet retailers is the inability to know if the clothes will fit. ImageTwin uses a scanning system and stores an individual's measurements. When you shop at LandsEnd.com, you can see a 3-D image of what the item should look like on your body. This is an example of the ________ force in the marketing environment.

Accepted Answer

A)  economic 
B)  technological 
C)  sociocultural 
D)  competitive 
E)  marketing mix 
A)  economic 
B)  technological 
C)  sociocultural 
D)  competitive 
E)  marketing mix

Question 9

The demographic characteristics of a population and its culture are types of environmental forces called

Accepted Answer

A)  social forces. 
B)  economic forces. 
C)  consumer forces. 
D)  cultural forces. 
E)  market forces. 
A)  social forces. 
B)  economic forces. 
C)  consumer forces. 
D)  cultural forces. 
E)  market forces.

Question 10

A steady decline in consumer confidence would be an example of which environmental force?

Accepted Answer

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

Question 11

The two major purposes for any trademark statute are to

Accepted Answer

A)  protect the investment of energy, time, and money that the owner of a trademark has invested in the development of the product and guarantee the owner of the trademark complete rights to his work for the duration of the owner's lifetime. 
B)  protect the inventor's individual rights and provide the company with the maximum profits possible. 
C)  protect the rights of the inventor both here and abroad. 
D)  protect the public so they will get the product it wants and asks for and protect the government so it will be able to collect its fair share of taxes from the revenues generated. 
E)  protect the firm selling the trademarked product and protect the consumer buying the product. 
A)  protect the investment of energy, time, and money that the owner of a trademark has invested in the development of the product and guarantee the owner of the trademark complete rights to his work for the duration of the owner's lifetime. 
B)  protect the inventor's individual rights and provide the company with the maximum profits possible. 
C)  protect the rights of the inventor both here and abroad. 
D)  protect the public so they will get the product it wants and asks for and protect the government so it will be able to collect its fair share of taxes from the revenues generated. 
E)  protect the firm selling the trademarked product and protect the consumer buying the product.

Question 12

A micropolitan statistical area refers to

Accepted Answer

A)  a statistical area of 2.5 million people or more. 
B)  a highly urbanized area with a centrally located population of at least 1,000,000 people. 
C)  a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area. 
D)  a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration. 
E)  a statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration. 
A)  a statistical area of 2.5 million people or more. 
B)  a highly urbanized area with a centrally located population of at least 1,000,000 people. 
C)  a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area. 
D)  a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration. 
E)  a statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration.

Question 13

In a(n) ________ economy, the cost to produce and buy products and services escalates as prices increase.

Accepted Answer

A)  inflationary 
B)  expansionary 
C)  deflationary 
D)  recessionary 
E)  depressive 
A)  inflationary 
B)  expansionary 
C)  deflationary 
D)  recessionary 
E)  depressive

Question 14

The Child Protection Act (1966) and the Nutritional Labeling and Education Act (1990) are examples of

Accepted Answer

A)  pricing-related legislation. 
B)  laws specifying product requirements. 
C)  fair trade legislation. 
D)  distribution-related legislation. 
E)  government contracts with private firms. 
A)  pricing-related legislation. 
B)  laws specifying product requirements. 
C)  fair trade legislation. 
D)  distribution-related legislation. 
E)  government contracts with private firms.

Question 15

The purpose of the ________ is to forbid certain actions that are likely to lessen competition, although no actual harm has yet occurred.

Accepted Answer

A)  Federal Trade Commission Act 
B)  Lanham Act 
C)  Clayton Act 
D)  Sherman Antitrust Act 
E)  Robinson-Patman Act 
A)  Federal Trade Commission Act 
B)  Lanham Act 
C)  Clayton Act 
D)  Sherman Antitrust Act 
E)  Robinson-Patman Act

Question 16

Prudential, a financial planning firm, offers retirement plans and wealth management advice. These products are most likely targeted toward which generational cohort?

Accepted Answer

A)  Generation Z 
B)  baby busters 
C)  Generation Y 
D)  the greatest generation 
E)  baby boomers 
A)  Generation Z 
B)  baby busters 
C)  Generation Y 
D)  the greatest generation 
E)  baby boomers

Question 17

Generally, the U.S. population is becoming

Accepted Answer

A)  smaller, younger, and more diverse. 
B)  smaller, older, and more diverse. 
C)  larger, younger, and less diverse. 
D)  larger, younger, and more diverse. 
E)  larger, older, and more diverse. 
A)  smaller, younger, and more diverse. 
B)  smaller, older, and more diverse. 
C)  larger, younger, and less diverse. 
D)  larger, younger, and more diverse. 
E)  larger, older, and more diverse.

Question 18

In 1988, the Trademark Law Revision Act resulted in a major change to the Lanham Act. The change allows

Accepted Answer

A)  a company to secure rights to a name before its actual use by declaring an intent to use the name. 
B)  products to use generic terms as trademarks. 
C)  inventors to apply for use of Internet domain names. 
D)  a company to declare trademark ownership in foreign markets. 
E)  products to use more than one trademark. 
A)  a company to secure rights to a name before its actual use by declaring an intent to use the name. 
B)  products to use generic terms as trademarks. 
C)  inventors to apply for use of Internet domain names. 
D)  a company to declare trademark ownership in foreign markets. 
E)  products to use more than one trademark.

Question 19

The Lanham Act cannot protect the rights to a trademark if

Accepted Answer

A)  the company is accused of violating the Sherman Antitrust Act. 
B)  the product patent is less than 17 years old. 
C)  the word, name, or symbol has become generic. 
D)  the statute of limitations has run out. 
E)  the government refuses to enforce violations. 
A)  the company is accused of violating the Sherman Antitrust Act. 
B)  the product patent is less than 17 years old. 
C)  the word, name, or symbol has become generic. 
D)  the statute of limitations has run out. 
E)  the government refuses to enforce violations.

Question 20

Which of the following would be identified as a social force in an environmental scan?

Accepted Answer

A)  a new consumer protection law 
B)  a delay in young couples marrying and having children 
C)  an introduction of advanced technology 
D)  a decrease in consumer incomes 
E)  a new international firm exporting to the United States 
A)  a new consumer protection law 
B)  a delay in young couples marrying and having children 
C)  an introduction of advanced technology 
D)  a decrease in consumer incomes 
E)  a new international firm exporting to the United States

Exam 3: Scanning the Marketing Environment

The total amount of money made in one year by a person, household, or family unit is referred to as ________ income.

In an inflationary economy, the cost to produce and buy products and services ________ as prices ________.

Barriers to entry refer to

Discretionary income refers to

A sudden drop in the average consumer income would be an example of which environmental force?

Coca-Cola has hired brand police to make sure that the Coca-Cola brand name and logo are not used without written permission. Why is Coca-Cola so rigorous in protecting its trademark?

The demographic characteristics of a population and its culture are types of environmental forces called

A steady decline in consumer confidence would be an example of which environmental force?

The two major purposes for any trademark statute are to

A micropolitan statistical area refers to

In a(n) ________ economy, the cost to produce and buy products and services escalates as prices increase.

The Child Protection Act (1966) and the Nutritional Labeling and Education Act (1990) are examples of

The purpose of the ________ is to forbid certain actions that are likely to lessen competition, although no actual harm has yet occurred.

Prudential, a financial planning firm, offers retirement plans and wealth management advice. These products are most likely targeted toward which generational cohort?

Generally, the U.S. population is becoming

In 1988, the Trademark Law Revision Act resulted in a major change to the Lanham Act. The change allows

The Lanham Act cannot protect the rights to a trademark if

Which of the following would be identified as a social force in an environmental scan?

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

In an inflationary economy, the cost to produce and buy products and services as prices .