Question 1

By the turn of the twentieth century, the population of the United States had shifted to three large racial and ethnic groups. These groups are

Accepted Answer

A)  African Americans, Hispanics, and Caucasians. 
B)  Asians, African Americans, and Caucasians. 
C)  Asians, African Americans, and Hispanics. 
D)  African Americans, American Indians, and Caucasians. 
E)  Hispanics, American Indians, and Caucasians. 
A)  African Americans, Hispanics, and Caucasians. 
B)  Asians, African Americans, and Caucasians. 
C)  Asians, African Americans, and Hispanics. 
D)  African Americans, American Indians, and Caucasians. 
E)  Hispanics, American Indians, and Caucasians.

Question 2

Through technology assessment, managers try to foresee the effects of new products and processes on the firm's operations and on society.

Accepted Answer

A) True 
 B)False

Question 3

Fraud and antitrust violations are the most frequently sentenced organizational crimes.

Accepted Answer

A) True 
 B)False

Question 4

Technology affects the types of products offered to consumers.

Accepted Answer

A) True 
 B)False

Question 5

Toyota has developed aluminum car bodies that are 100% recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?

Accepted Answer

A)  Proactive 
B)  Competitive 
C)  Reactive 
D)  Inactive 
E)  Controllable 
A)  Proactive 
B)  Competitive 
C)  Reactive 
D)  Inactive 
E)  Controllable

Question 6

The number of firms that control the supply of a product may affect the strength of competition.

Accepted Answer

A) True 
 B)False

Question 7

To achieve their objectives, consumer advocates write letters to companies, lobby government agencies, broadcast public service announcements, and boycott companies whose actions they deem irresponsible.

Accepted Answer

A) True 
 B)False

Question 8

Jerry is a corn farmer. He sells his soybeans to stores such as Albertson's. What type of competitive structure does Jerry most likely operate in?

Accepted Answer

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

Question 9

The tobacco industry in the United States is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

Accepted Answer

A)  price sensitive. 
B)  opportunistic. 
C)  monopolistic competition. 
D)  an oligopoly. 
E)  a monopoly. 
A)  price sensitive. 
B)  opportunistic. 
C)  monopolistic competition. 
D)  an oligopoly. 
E)  a monopoly.

Question 10

Which of the following regulatory groups is a system of nongovernmental, independent, local regulatory agencies supported by local businesses?

Accepted Answer

A)  The Chamber of Commerce 
B)  The National Advertising Review Board 
C)  The National Advertising Division 
D)  The Better Business Bureau 
E)  American Marketing Association 
A)  The Chamber of Commerce 
B)  The National Advertising Review Board 
C)  The National Advertising Division 
D)  The Better Business Bureau 
E)  American Marketing Association

Question 11

Political forces and legal and regulatory forces are the same thing.

Accepted Answer

A) True 
 B)False

Question 12

The number of single men and women living alone is declining.

Accepted Answer

A) True 
 B)False

Question 13

XYZ Company has been a member of the Better Business Bureau for five years. In the past year, XYZ Company has had a number of customer complaints that it has not addressed. In response, what can the BBB do?

Accepted Answer

A)  Institute a fine against the XYZ Company 
B)  File a lawsuit against the XYZ Company in a federal court 
C)  Expel XYZ Company from its local bureau 
D)  Force XYZ Company to address the complaints 
E)  File a lawsuit against the XYZ Company in a state court 
A)  Institute a fine against the XYZ Company 
B)  File a lawsuit against the XYZ Company in a federal court 
C)  Expel XYZ Company from its local bureau 
D)  Force XYZ Company to address the complaints 
E)  File a lawsuit against the XYZ Company in a state court

Question 14

When using credit to make purchases, consumers are

Accepted Answer

A)  decreasing current buying power and increasing future buying power. 
B)  increasing their present discretionary income to extend purchasing power. 
C)  putting themselves at significant risk of financial disaster. 
D)  forgoing the accumulation of wealth to increase current income. 
E)  increasing current buying power at the expense of future buying power. 
A)  decreasing current buying power and increasing future buying power. 
B)  increasing their present discretionary income to extend purchasing power. 
C)  putting themselves at significant risk of financial disaster. 
D)  forgoing the accumulation of wealth to increase current income. 
E)  increasing current buying power at the expense of future buying power.

Question 15

The U.S. government has implemented a number of laws over the years to ensure the U.S. economy remains fair, competitive, and free of monopolies.
One such law has the following characteristics:
It is also a criminal law, and individuals and businesses that violate it may be prosecuted by the Department of Justice.
It imposes criminal penalties of up to $100 million for a corporation and $1 million for an individual.
It doesn't clearly prohibit mergers or interlocking directorates.
It outlaws "every contract, combination, or conspiracy in restraint of trade."
Which of the following laws is described by the characteristics described above?

Accepted Answer

A)  The Hart-Scott-Rodino Act 
B)  The Clayton Act 
C)  The Sherman Act 
D)  The Robinson-Patman Act 
E)  The Federal Trade Commission (FT
C)  Act 
A)  The Hart-Scott-Rodino Act 
B)  The Clayton Act 
C)  The Sherman Act 
D)  The Robinson-Patman Act 
E)  The Federal Trade Commission (FT
C)  Act

Question 16

Companies that compete for the same limited financial resources of the same customers are known as ____ competitors.

Accepted Answer

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

Question 17

State and local regulatory agencies usually do not establish and enforce regulations that conflict with the actions of national regulatory agencies.

Accepted Answer

A) True 
 B)False

Question 18

Explain the differences between the competitive structures of a monopoly and an oligopoly.

Accepted Answer

A monopoly exists when an organization o

Question 19

Your company is accepting proposals from a variety of consulting firms to assist in determining how the rapid changes in technology will impact your firm's future operations and profitability.
Which one of the following consulting firm proposals should you accept?

Accepted Answer

A)  Accept Firm A's proposal to complete a technology evaluation. 
B)  Accept Firm B's proposal to complete a SWOT analysis. 
C)  Accept Firm C's proposal to implement an information technology change management process. 
D)  Accept Firm D's proposal to complete a technology assessment. 
E)  None of the proposals should be accepted. 
A)  Accept Firm A's proposal to complete a technology evaluation. 
B)  Accept Firm B's proposal to complete a SWOT analysis. 
C)  Accept Firm C's proposal to implement an information technology change management process. 
D)  Accept Firm D's proposal to complete a technology assessment. 
E)  None of the proposals should be accepted.

Question 20

After Home Depot gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes. This determines possible opportunities and threats facing the company. It illustrates the process that is called

Accepted Answer

A)  environmental scanning. 
B)  survey of environment. 
C)  marketing. 
D)  environmental analysis. 
E)  marketing information processing. 
A)  environmental scanning. 
B)  survey of environment. 
C)  marketing. 
D)  environmental analysis. 
E)  marketing information processing.

By the turn of the twentieth century, the population of the United States had shifted to three large racial and ethnic groups. These groups are

Through technology assessment, managers try to foresee the effects of new products and processes on the firm's operations and on society.

Fraud and antitrust violations are the most frequently sentenced organizational crimes.

Technology affects the types of products offered to consumers.

Toyota has developed aluminum car bodies that are 100% recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?

The number of firms that control the supply of a product may affect the strength of competition.

To achieve their objectives, consumer advocates write letters to companies, lobby government agencies, broadcast public service announcements, and boycott companies whose actions they deem irresponsible.

Jerry is a corn farmer. He sells his soybeans to stores such as Albertson's. What type of competitive structure does Jerry most likely operate in?

The tobacco industry in the United States is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

Which of the following regulatory groups is a system of nongovernmental, independent, local regulatory agencies supported by local businesses?

Political forces and legal and regulatory forces are the same thing.

The number of single men and women living alone is declining.

XYZ Company has been a member of the Better Business Bureau for five years. In the past year, XYZ Company has had a number of customer complaints that it has not addressed. In response, what can the BBB do?

When using credit to make purchases, consumers are

Companies that compete for the same limited financial resources of the same customers are known as ____ competitors.

State and local regulatory agencies usually do not establish and enforce regulations that conflict with the actions of national regulatory agencies.

Explain the differences between the competitive structures of a monopoly and an oligopoly.

Your company is accepting proposals from a variety of consulting firms to assist in determining how the rapid changes in technology will impact your firm's future operations and profitability. Which one of the following consulting firm proposals should you accept?

After Home Depot gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes. This determines possible opportunities and threats facing the company. It illustrates the process that is called

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

By the turn of the twentieth century, the population of the United States had shifted to three large racial and ethnic groups. These groups are

Through technology assessment, managers try to foresee the effects of new products and processes on the firm's operations and on society.

Fraud and antitrust violations are the most frequently sentenced organizational crimes.

Technology affects the types of products offered to consumers.

Toyota has developed aluminum car bodies that are 100% recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?

The number of firms that control the supply of a product may affect the strength of competition.

To achieve their objectives, consumer advocates write letters to companies, lobby government agencies, broadcast public service announcements, and boycott companies whose actions they deem irresponsible.

Jerry is a corn farmer. He sells his soybeans to stores such as Albertson's. What type of competitive structure does Jerry most likely operate in?

The tobacco industry in the United States is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

Which of the following regulatory groups is a system of nongovernmental, independent, local regulatory agencies supported by local businesses?

Political forces and legal and regulatory forces are the same thing.

The number of single men and women living alone is declining.

XYZ Company has been a member of the Better Business Bureau for five years. In the past year, XYZ Company has had a number of customer complaints that it has not addressed. In response, what can the BBB do?

When using credit to make purchases, consumers are

Companies that compete for the same limited financial resources of the same customers are known as ____ competitors.

State and local regulatory agencies usually do not establish and enforce regulations that conflict with the actions of national regulatory agencies.

Explain the differences between the competitive structures of a monopoly and an oligopoly.

Your company is accepting proposals from a variety of consulting firms to assist in determining how the rapid changes in technology will impact your firm's future operations and profitability. Which one of the following consulting firm proposals should you accept?

After Home Depot gathers information related to its marketing environment, it attempts to define current environmental changes and predict future changes. This determines possible opportunities and threats facing the company. It illustrates the process that is called

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