Question 1

Which of the following is a commonly held value in the United States today?

Accepted Answer

A)  sustainability 
B)  tradition 
C)  group welfare 
D)  nostalgia 
E)  acceptance of birthright 
A)  sustainability 
B)  tradition 
C)  group welfare 
D)  nostalgia 
E)  acceptance of birthright

Question 2

The U.S. Securities and Exchange Commission has designated just nine credit-rating agencies as nationally recognized statistical rating organizations, which include Moody's, Standard & Poor's, and Fitch Ratings. These agencies provide opinions on the creditworthiness of other entities and the financial obligations issued by them. Because so few companies can compete in it, the credit-rating industry would be considered a(n)

Accepted Answer

A)  mega monopoly. 
B)  oligopoly. 
C)  pure competition. 
D)  monopolistic competition. 
E)  pure monopoly. 
A)  mega monopoly. 
B)  oligopoly. 
C)  pure competition. 
D)  monopolistic competition. 
E)  pure monopoly.

Question 3

A consumer's income consists of

Accepted Answer

A)  inflationary, recessionary, and depressive economies. 
B)  salaries, taxes, and assets. 
C)  gross, disposable, and discretionary components. 
D)  sales taxes, income taxes, and property taxes. 
E)  assets, liabilities, and equities. 
A)  inflationary, recessionary, and depressive economies. 
B)  salaries, taxes, and assets. 
C)  gross, disposable, and discretionary components. 
D)  sales taxes, income taxes, and property taxes. 
E)  assets, liabilities, and equities.

Question 4

LG recently introduced a "connected" refrigerator that can track food expiration dates and respond to voice commands. This is an example of a __________ change in the marketing environment.

Accepted Answer

A)  ecological 
B)  regulatory 
C)  legal 
D)  competitive 
E)  technological 
A)  ecological 
B)  regulatory 
C)  legal 
D)  competitive 
E)  technological

Question 5

________ expect brands and companies to embrace social change, corporate social responsibility, and environmental stewardship, as well as profits.

Accepted Answer

A)  Members of Generation X 
B)  Baby boomers 
C)  Members of Generation Z 
D)  Baby busters 
E)  Millennials 
A)  Members of Generation X 
B)  Baby boomers 
C)  Members of Generation Z 
D)  Baby busters 
E)  Millennials

Question 6

Visa and MasterCard have recently been accused of violating antitrust laws by improperly fixing credit and debit card fees (known as swipe fees) paid by retailers to use their services, creating an anti-competitive environment. Legislation that prohibits price-fixing is an example of ________ forces that affect the marketing environment.

Accepted Answer

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

Question 7

There are many diet aids on the market. Some promise immediate weight loss without exercise or a change in diet. Each is accompanied by a testimonial from a satisfied user, but most also contain the statement, "Results may vary." Most likely this statement is included to prevent the Federal Trade Commission (FTC) from requiring the dietary aid distributor to

Accepted Answer

A)  engage in self-regulation. 
B)  engage in comparative advertising. 
C)  issue an advertising injunction. 
D)  guarantee truth in advertising. 
E)  run corrective advertising. 
A)  engage in self-regulation. 
B)  engage in comparative advertising. 
C)  issue an advertising injunction. 
D)  guarantee truth in advertising. 
E)  run corrective advertising.

Question 8

Protecting competition is the primary aim of which of these?

Accepted Answer

A)  Prevention and Enforcement Act 
B)  Clayton Act 
C)  Federal Trade Commission Act 
D)  Fair Trade Act 
E)  Unfair Practices Act 
A)  Prevention and Enforcement Act 
B)  Clayton Act 
C)  Federal Trade Commission Act 
D)  Fair Trade Act 
E)  Unfair Practices Act

Question 9

When a firm or business displays the Better Business Bureau (BBB) Accredited Business logo on its store window or website, it assures consumers that

Accepted Answer

A)  the company's products comply with current safety standards set by the Consumer Product Safety Commission. 
B)  it is a member of a voluntary alliance of companies whose goal is to help maintain fair business practices. 
C)  the firm has met the standards for qualification as a green marketing firm. 
D)  the firm takes a proactive stance on diversity in the workplace. 
E)  the company incorporates sustainable business practices. 
A)  the company's products comply with current safety standards set by the Consumer Product Safety Commission. 
B)  it is a member of a voluntary alliance of companies whose goal is to help maintain fair business practices. 
C)  the firm has met the standards for qualification as a green marketing firm. 
D)  the firm takes a proactive stance on diversity in the workplace. 
E)  the company incorporates sustainable business practices.

Question 10

________ consumers say they will pay more for a product or brand if promotes environmental issues, social justice, and gender equality, and they, more than any other generation, say that they find out about products and services through social media.

Accepted Answer

A)  Generation X 
B)  Baby Boomers 
C)  Generation Z 
D)  the Greatest Generation 
E)  Generation Y 
A)  Generation X 
B)  Baby Boomers 
C)  Generation Z 
D)  the Greatest Generation 
E)  Generation Y

Question 11

Regulation refers to

Accepted Answer

A)  the restrictions that state and federal laws place on business with regard to the conduct of its activities. 
B)  constraints placed on businesses for activities that are legal but unethical. 
C)  society's values and standards that are enforceable in the courts. 
D)  requirements concerning which customers a firm may serve or not serve. 
E)  the moral principles and values that govern the actions and decisions of an individual or group. 
A)  the restrictions that state and federal laws place on business with regard to the conduct of its activities. 
B)  constraints placed on businesses for activities that are legal but unethical. 
C)  society's values and standards that are enforceable in the courts. 
D)  requirements concerning which customers a firm may serve or not serve. 
E)  the moral principles and values that govern the actions and decisions of an individual or group.

Question 12

Technology is defined as

Accepted Answer

A)  any device or process based on scientific discoveries that are less than one year old. 
B)  any mechanical device used in the production or distribution of a product. 
C)  scientific findings that are used now or are able to generate a profit. 
D)  ideas or concepts that will one day be translated into usable devices, mechanisms, or processes. 
E)  the inventions or innovations from applied science or engineering research. 
A)  any device or process based on scientific discoveries that are less than one year old. 
B)  any mechanical device used in the production or distribution of a product. 
C)  scientific findings that are used now or are able to generate a profit. 
D)  ideas or concepts that will one day be translated into usable devices, mechanisms, or processes. 
E)  the inventions or innovations from applied science or engineering research.

Question 13

________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Accepted Answer

A)  Cross-market competition 
B)  Limited competition 
C)  Pure competition 
D)  Monopolistic competition 
E)  A monopoly 
A)  Cross-market competition 
B)  Limited competition 
C)  Pure competition 
D)  Monopolistic competition 
E)  A monopoly

Question 14

The country expected to have the largest population in 2050 is

Accepted Answer

A)  the United States. 
B)  India. 
C)  China. 
D)  Russia. 
E)  Brazil. 
A)  the United States. 
B)  India. 
C)  China. 
D)  Russia. 
E)  Brazil.

Question 15

The use of coupons is a frequently used marketing tactic for which form of competition?

Accepted Answer

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

Question 16

Demographic characteristics that describe a population include all of the following except which?

Accepted Answer

A)  income 
B)  age 
C)  occupation 
D)  density 
E)  ethnicity 
A)  income 
B)  age 
C)  occupation 
D)  density 
E)  ethnicity

Question 17

The Federal Trademark Dilution Act

Accepted Answer

A)  prevents someone from using a trademark on a noncompeting product. 
B)  provides for registration of a company's trademarks. 
C)  allows a company to secure rights to a name before its actual use. 
D)  facilitates the protection of U.S. trademark rights throughout the world. 
E)  allows language adaptations for trademarks in different parts of the world. 
A)  prevents someone from using a trademark on a noncompeting product. 
B)  provides for registration of a company's trademarks. 
C)  allows a company to secure rights to a name before its actual use. 
D)  facilitates the protection of U.S. trademark rights throughout the world. 
E)  allows language adaptations for trademarks in different parts of the world.

Question 18

The College Board reports that since 2000, college tuition and fees have increased by 190 percent while the share of family income required to pay for tuition at public four-year colleges has risen from 8 percent in 2000 to 16 percent today. This is an example of a(n) ________ condition.

Accepted Answer

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

Question 19

Which is true about the Better Business Bureau?

Accepted Answer

A)  It is the best-known federal agency involved in monitoring self-regulation of competing businesses. 
B)  It has a great deal of legal power to force a company to comply with its regulations. 
C)  It cannot be involved with Internet commerce. 
D)  It is a voluntary alliance of companies whose goal is to help maintain fair practices. 
E)  It is the agency that oversees advertising that runs on television programs. 
A)  It is the best-known federal agency involved in monitoring self-regulation of competing businesses. 
B)  It has a great deal of legal power to force a company to comply with its regulations. 
C)  It cannot be involved with Internet commerce. 
D)  It is a voluntary alliance of companies whose goal is to help maintain fair practices. 
E)  It is the agency that oversees advertising that runs on television programs.

Question 20

Changing attitudes toward sex roles are sometimes expressed today as ________ in both product design and promotion.

Accepted Answer

A)  traditional stereotypes 
B)  gender neutrality 
C)  data-driven specifications 
D)  post-modern norms 
E)  overt sexual themes 
A)  traditional stereotypes 
B)  gender neutrality 
C)  data-driven specifications 
D)  post-modern norms 
E)  overt sexual themes

Exam 3: Scanning the Marketing Environment

Which of the following is a commonly held value in the United States today?

A consumer's income consists of

LG recently introduced a "connected" refrigerator that can track food expiration dates and respond to voice commands. This is an example of a __________ change in the marketing environment.

________ expect brands and companies to embrace social change, corporate social responsibility, and environmental stewardship, as well as profits.

Protecting competition is the primary aim of which of these?

When a firm or business displays the Better Business Bureau (BBB) Accredited Business logo on its store window or website, it assures consumers that

________ consumers say they will pay more for a product or brand if promotes environmental issues, social justice, and gender equality, and they, more than any other generation, say that they find out about products and services through social media.

Regulation refers to

Technology is defined as

________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

The country expected to have the largest population in 2050 is

The use of coupons is a frequently used marketing tactic for which form of competition?

Demographic characteristics that describe a population include all of the following except which?

The Federal Trademark Dilution Act

The College Board reports that since 2000, college tuition and fees have increased by 190 percent while the share of family income required to pay for tuition at public four-year colleges has risen from 8 percent in 2000 to 16 percent today. This is an example of a(n) ________ condition.

Which is true about the Better Business Bureau?

Changing attitudes toward sex roles are sometimes expressed today as ________ in both product design and promotion.

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