Question 1

Technological changes do not directly affect what, how, when, and where products are marketed.

Accepted Answer

A) True 
 B)False

Question 2

Credit increases current buying power at the expense of future buying power.

Accepted Answer

A) True 
 B)False

Question 3

The amount of money received through wages, rents, investments, pensions, and subsidies is called

Accepted Answer

A)  income. 
B)  wealth. 
C)  discretionary income. 
D)  prosperity. 
E)  credit. 
A)  income. 
B)  wealth. 
C)  discretionary income. 
D)  prosperity. 
E)  credit.

Question 4

Single people have quite different spending patterns than couples and families with children. They spend more heavily on convenience foods, restaurants, travel, entertainment, and recreation.

Accepted Answer

A) True 
 B)False

Question 5

The Coca-Cola Company has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy?

Accepted Answer

A)  Ads featuring nostalgic Americana 
B)  Bonus coupons in Coca-Cola twelve-packs 
C)  Ads featuring Hispanic actors and Tejano music 
D)  Ads in The New Yorker and Reader's Digest 
E)  Ads aimed at children 
A)  Ads featuring nostalgic Americana 
B)  Bonus coupons in Coca-Cola twelve-packs 
C)  Ads featuring Hispanic actors and Tejano music 
D)  Ads in The New Yorker and Reader's Digest 
E)  Ads aimed at children

Question 6

The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in

Accepted Answer

A)  legislation. 
B)  lobbying. 
C)  self-regulation. 
D)  environmental scanning. 
E)  trade restraint. 
A)  legislation. 
B)  lobbying. 
C)  self-regulation. 
D)  environmental scanning. 
E)  trade restraint.

Question 7

In what ways is the United States becoming an increasingly diverse nation in terms of culture?

Accepted Answer

The number of immigrants into the United

Question 8

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in

Accepted Answer

A)  environmental analysis. 
B)  competitive forces. 
C)  environmental scanning. 
D)  procompetitive legislation. 
E)  self-regulatory forces. 
A)  environmental analysis. 
B)  competitive forces. 
C)  environmental scanning. 
D)  procompetitive legislation. 
E)  self-regulatory forces.

Question 9

Wealth enables consumers to gain buying power.

Accepted Answer

A) True 
 B)False

Question 10

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

Accepted Answer

A)  Monopoly 
B)  Oligopoly 
C)  Monopolistic competition 
D)  Mixed competition 
E)  Pure competition 
A)  Monopoly 
B)  Oligopoly 
C)  Monopolistic competition 
D)  Mixed competition 
E)  Pure competition

Question 11

If a person has buying power, he or she is influenced only by a product's absolute price.

Accepted Answer

A) True 
 B)False

Question 12

Marketers primarily focus their environmental analysis on ____ competitors.

Accepted Answer

A)  brand 
B)  product 
C)  total budget 
D)  generic 
E)  monopolistic 
A)  brand 
B)  product 
C)  total budget 
D)  generic 
E)  monopolistic

Question 13

Decreases in taxes lead to decreases in disposable income.

Accepted Answer

A) True 
 B)False

Question 14

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.

Accepted Answer

A)  oligopoly 
B)  monopoly 
C)  pure competition 
D)  oligopolistic competition 
E)  monopolistic competition 
A)  oligopoly 
B)  monopoly 
C)  pure competition 
D)  oligopolistic competition 
E)  monopolistic competition

Question 15

Many laws that directly influence marketing activities were enacted either to preserve a competitive atmosphere or to protect consumers.

Accepted Answer

A) True 
 B)False

Question 16

The Sherman Antitrust Act, along with several other laws, is a procompetitive law because it was created to preserve competition.

Accepted Answer

A) True 
 B)False

Question 17

The four major competitive structures are

Accepted Answer

A)  monopolies, oligopolies, oligopolistic monopolies, and pure competition. 
B)  pure competition, heavy competition, moderate competition, and light competition. 
C)  brand, product, total budget, and generic. 
D)  oligopolies, monopolies, monopolistic competition, and pure competition. 
E)  monopolies, limited competition, oligopolistic competition, and pure competition. 
A)  monopolies, oligopolies, oligopolistic monopolies, and pure competition. 
B)  pure competition, heavy competition, moderate competition, and light competition. 
C)  brand, product, total budget, and generic. 
D)  oligopolies, monopolies, monopolistic competition, and pure competition. 
E)  monopolies, limited competition, oligopolistic competition, and pure competition.

Question 18

The best approach for a company to take when monitoring its competitors is

Accepted Answer

A)  watching for increases and decreases in competitors' prices and matching them. 
B)  analyzing all information that is readily available about competitors. 
C)  sending employees to competitors' offices and factories to observe their actions. 
D)  developing a system for gathering ongoing information about competitors. 
E)  reading important business publications such as The Wall Street Journal. 
A)  watching for increases and decreases in competitors' prices and matching them. 
B)  analyzing all information that is readily available about competitors. 
C)  sending employees to competitors' offices and factories to observe their actions. 
D)  developing a system for gathering ongoing information about competitors. 
E)  reading important business publications such as The Wall Street Journal.

Question 19

Your marketing team has started the analysis of your company's marketing environment. Competition has been very intense in recent years in your industry, so you decide to place more emphasis on analyzing the competitive forces in your industry. You group your competitors into the four types that a firm normally faces.
In general, which one of the four types of competitors do you think will be the most formidable for your company?

Accepted Answer

A)  Total budget competitors 
B)  Features-oriented competitors 
C)  Brand competitors 
D)  Generic competitors 
E)  Product competitors 
A)  Total budget competitors 
B)  Features-oriented competitors 
C)  Brand competitors 
D)  Generic competitors 
E)  Product competitors

Question 20

A good example of a government regulatory group at the local level is the Better Business Bureau.

Accepted Answer

A) True 
 B)False

Technological changes do not directly affect what, how, when, and where products are marketed.

Credit increases current buying power at the expense of future buying power.

The amount of money received through wages, rents, investments, pensions, and subsidies is called

Single people have quite different spending patterns than couples and families with children. They spend more heavily on convenience foods, restaurants, travel, entertainment, and recreation.

The Coca-Cola Company has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy?

The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in

In what ways is the United States becoming an increasingly diverse nation in terms of culture?

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in

Wealth enables consumers to gain buying power.

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

If a person has buying power, he or she is influenced only by a product's absolute price.

Marketers primarily focus their environmental analysis on ____ competitors.

Decreases in taxes lead to decreases in disposable income.

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.

Many laws that directly influence marketing activities were enacted either to preserve a competitive atmosphere or to protect consumers.

The Sherman Antitrust Act, along with several other laws, is a procompetitive law because it was created to preserve competition.

The four major competitive structures are

The best approach for a company to take when monitoring its competitors is

A good example of a government regulatory group at the local level is the Better Business Bureau.

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets, Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding, and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 3: The Marketing Environment

Technological changes do not directly affect what, how, when, and where products are marketed.

Credit increases current buying power at the expense of future buying power.

The amount of money received through wages, rents, investments, pensions, and subsidies is called

Single people have quite different spending patterns than couples and families with children. They spend more heavily on convenience foods, restaurants, travel, entertainment, and recreation.

The Coca-Cola Company has recognized the significant increase in population diversity within the U.S. soft-drink market. Which one of the following best illustrates the company's integration of this knowledge into its marketing strategy?

The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in

In what ways is the United States becoming an increasingly diverse nation in terms of culture?

Collecting information from secondary sources such as business, government, trade, and general-interest publications plays an important role in

Wealth enables consumers to gain buying power.

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

If a person has buying power, he or she is influenced only by a product's absolute price.

Marketers primarily focus their environmental analysis on ____ competitors.

Decreases in taxes lead to decreases in disposable income.

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.

Many laws that directly influence marketing activities were enacted either to preserve a competitive atmosphere or to protect consumers.

The Sherman Antitrust Act, along with several other laws, is a procompetitive law because it was created to preserve competition.

The four major competitive structures are

The best approach for a company to take when monitoring its competitors is

A good example of a government regulatory group at the local level is the Better Business Bureau.

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets, Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts, Branding, and Packaging

Developing and Managing Products

Services Marketing

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters