Question 1

Technology is

Accepted Answer

A) the application of scientific knowledge to build products that customers desire. 
B) the application of knowledge and tools to solve problems and perform tasks more efficiently. 
C) applied sciences. 
D) one of the weakest marketing environment forces. 
E) the result of research performed primarily by universities. 
A) the application of scientific knowledge to build products that customers desire. 
B) the application of knowledge and tools to solve problems and perform tasks more efficiently. 
C) applied sciences. 
D) one of the weakest marketing environment forces. 
E) the result of research performed primarily by universities.

Question 2

Describe what is meant by a consumer's buying power.How might this affect a marketing strategy?

Accepted Answer

The answer of Describe what is meant by a consumer's...

Question 3

The accumulation of past income,natural resources,and financial resources is known as

Accepted Answer

A) income. 
B) collected income. 
C) credit. 
D) wealth. 
E) savings. 
A) income. 
B) collected income. 
C) credit. 
D) wealth. 
E) savings.

Question 4

Wealth enables consumers to gain buying power.

Accepted Answer

A) True 
 B)False

Question 5

Scenario 3.2
Use the following to answer the questions.
Clayton Homes,a mobile home manufacturer since 1934,introduced its new iHome in 2009.The iHome is one of the first of its kind,designed as an updated,modern version of the modular home,offered as a base home plus add-ons known as "pods." The base home is a one-bedroom,one-bath 734-square foot version at a price of around $80,000.There is also a 1,000 square-foot version for around $100,000.All versions may add on the additional one-room pods as desired which are shipped to your location and constructed on-site.The homes offer galvanized metal roofing,corrugated steel siding,VOC-free paints,and a "butterfly" roof that collects rainwater.The iHome uses 30% less energy than a similar square-foot home and offers "green" characteristics of solar panels,tankless water heaters,and low-flow faucets.In addition,it comes with bamboo flooring,a renewable resource.The modular,pre-fabricated design offers endless options for creating the customer's home and its engineered building system cuts down on construction waste.Due to the "green effects" of the iHome,the state governments have given it a tax abatement for any sales taxes.
-Refer to Scenario 3.2.
The new Clayton Homes iHome product is a reflection of the company's attention to ____ in developing its strategy.

Accepted Answer

A) marketing research analysis 
B) self-regulatory analysis 
C) consumer behavior analysis. 
D) marketing information processing. 
E) environmental scanning and analysis. 
A) marketing research analysis 
B) self-regulatory analysis 
C) consumer behavior analysis. 
D) marketing information processing. 
E) environmental scanning and analysis.

Question 6

Nabisco learned that health-conscious consumers preferred lower fat snack and lower-carbohydrate foods.At the same time,the firm saw sales of such products slumping and was careful not to launch any new varieties of these products for a while.Which of the following best describes Nabisco's action?

Accepted Answer

A) Environmental scanning 
B) Environmental marketing 
C) Demarketing 
D) Segmentation 
E) Environmental analysis 
A) Environmental scanning 
B) Environmental marketing 
C) Demarketing 
D) Segmentation 
E) Environmental analysis

Question 7

Technology assessment is

Accepted Answer

A) measuring how much technology has been incorporated into an organization. 
B) trying to foresee the effects of new products and processes on the firm's operation and on society in general. 
C) assessing how much technology one wants to incorporate into a company in the future. 
D) judging how a firm's products affect society. 
E) weighing the cost of new technology to determine whether a firm can afford to use it. 
A) measuring how much technology has been incorporated into an organization. 
B) trying to foresee the effects of new products and processes on the firm's operation and on society in general. 
C) assessing how much technology one wants to incorporate into a company in the future. 
D) judging how a firm's products affect society. 
E) weighing the cost of new technology to determine whether a firm can afford to use it.

Question 8

The Council of Better Business Bureaus and the FTC make up the National Advertising Review Board (NARB).

Accepted Answer

A) True 
 B)False

Question 9

Consumer protection legislation deals with all of the following legal concerns except

Accepted Answer

A) consumer safety. 
B) sale of hazardous products. 
C) monopolistic practices. 
D) information disclosure. 
E) health claims on food packages. 
A) consumer safety. 
B) sale of hazardous products. 
C) monopolistic practices. 
D) information disclosure. 
E) health claims on food packages.

Question 10

Shelby's new job with the federal government provides a comfortable income and a fairly stable income.She would like to buy a new car now that she has a job;however,Shelby hesitates to purchase a new car because she is concerned about how poor economic conditions may affect her position in the future.Shelby lacks

Accepted Answer

A) disposable income. 
B) willingness to spend. 
C) buying power. 
D) credit. 
E) discretionary income. 
A) disposable income. 
B) willingness to spend. 
C) buying power. 
D) credit. 
E) discretionary income.

Question 11

Which of the following statements is true?

Accepted Answer

A) Political officials can not influence how much a government agency purchases and from whom. 
B) The U.S.Supreme Court nullified federal laws that restricted political campaign fund contributions for corporate labor unions. 
C) Company sponsored political advertising can only focus on topics and not on candidates. 
D) Political officials can not accept direct corporate campaign contributions. 
E) Companies can not participate in the political process through lobbying. 
A) Political officials can not influence how much a government agency purchases and from whom. 
B) The U.S.Supreme Court nullified federal laws that restricted political campaign fund contributions for corporate labor unions. 
C) Company sponsored political advertising can only focus on topics and not on candidates. 
D) Political officials can not accept direct corporate campaign contributions. 
E) Companies can not participate in the political process through lobbying.

Question 12

Scenario 3.1
Use the following to answer the questions.
Meyers' Sporting Goods,a national chain,has been doing business with Soljur Sports,a manufacturer of skateboards,for several years.Recently,it came to the attention of Meyers' financial director that the average cost per Soljur Sports skateboard had substantially increased over that of the previous year.The financial director asked the marketing department if they knew what the Soljur skateboards cost at competing sporting goods stores,to see if they too were likely hit with a higher cost.
The marketing department found that the Soljur skateboards were priced at $15 less in the competing store than at Meyers.The financial director found that Soljur Sports was selling a similar number of skateboards to one of Meyers' competitors for $10 less per skateboard.The attorney for Meyers' Sporting Goods immediately filed a complaint with the Federal Trade Commission.
-Refer to Scenario 3.1.If the Federal Trade Commission believes that Soljur Sporting Goods is acting in violation of the law,the first move for the FTC is to

Accepted Answer

A) issue a cease-and-desist order. 
B) issue a complaint stating that the business is in violation of the law. 
C) seek a monetary penalty. 
D) issue negative publicity about the company. 
E) contact the sporting goods manufacturers association 
A) issue a cease-and-desist order. 
B) issue a complaint stating that the business is in violation of the law. 
C) seek a monetary penalty. 
D) issue negative publicity about the company. 
E) contact the sporting goods manufacturers association

Question 13

What are the major forces that are referred to as sociocultural forces?

Accepted Answer

Sociocultural forces are influences that

Question 14

An increasingly diverse cultural base in the United States means that marketers face increasingly diverse consumer markets.

Accepted Answer

A) True 
 B)False

Question 15

People for the Ethical Treatment of Animals (PETA)have demonstrated against the sale of coats made of animal furs.PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers.

Accepted Answer

A) technological 
B) political 
C) sociocultural 
D) self-regulatory 
E) controllable 
A) technological 
B) political 
C) sociocultural 
D) self-regulatory 
E) controllable

Question 16

Publix Supermarket is revising its marketing plan for the upcoming quarter.Publix typically focuses on its wide variety of products and its high quality customer service,having very few weekly "sales." However,during the upcoming quarter,Publix plans to focus on price and value,and promote weekly "values" instead.Publix is most likely in a(n)

Accepted Answer

A) inflation period. 
B) prosperity period. 
C) recession. 
D) depression. 
E) recovery period. 
A) inflation period. 
B) prosperity period. 
C) recession. 
D) depression. 
E) recovery period.

Question 17

____ competitors are those that compete in the same product class,but their products have different features,benefits,and prices.

Accepted Answer

A) Total budget 
B) Generic 
C) Brand 
D) Product 
E) Price 
A) Total budget 
B) Generic 
C) Brand 
D) Product 
E) Price

Question 18

The proportion of the U.S.population that will be over 65 years of age is expected to decline by the year 2050.

Accepted Answer

A) True 
 B)False

Question 19

Governments are big buyers,and the people who hold political offices often determine how much is purchased.

Accepted Answer

A) True 
 B)False

Question 20

The strength of one's buying power depends partially on the state of the economy.

Accepted Answer

A) True 
 B)False

Technology is

Describe what is meant by a consumer's buying power.How might this affect a marketing strategy?

The accumulation of past income,natural resources,and financial resources is known as

Wealth enables consumers to gain buying power.

Nabisco learned that health-conscious consumers preferred lower fat snack and lower-carbohydrate foods.At the same time,the firm saw sales of such products slumping and was careful not to launch any new varieties of these products for a while.Which of the following best describes Nabisco's action?

Technology assessment is

The Council of Better Business Bureaus and the FTC make up the National Advertising Review Board (NARB).

Consumer protection legislation deals with all of the following legal concerns except

Which of the following statements is true?

What are the major forces that are referred to as sociocultural forces?

An increasingly diverse cultural base in the United States means that marketers face increasingly diverse consumer markets.

People for the Ethical Treatment of Animals (PETA)have demonstrated against the sale of coats made of animal furs.PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers.

____ competitors are those that compete in the same product class,but their products have different features,benefits,and prices.

The proportion of the U.S.population that will be over 65 years of age is expected to decline by the year 2050.

Governments are big buyers,and the people who hold political offices often determine how much is purchased.

The strength of one's buying power depends partially on the state of the economy.

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

Developing and Managing Products

Services Marketing

Branding and Packaging

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

Technology is

Describe what is meant by a consumer's buying power.How might this affect a marketing strategy?

The accumulation of past income,natural resources,and financial resources is known as

Wealth enables consumers to gain buying power.

Nabisco learned that health-conscious consumers preferred lower fat snack and lower-carbohydrate foods.At the same time,the firm saw sales of such products slumping and was careful not to launch any new varieties of these products for a while.Which of the following best describes Nabisco's action?

Technology assessment is

The Council of Better Business Bureaus and the FTC make up the National Advertising Review Board (NARB).

Consumer protection legislation deals with all of the following legal concerns except

Which of the following statements is true?

What are the major forces that are referred to as sociocultural forces?

An increasingly diverse cultural base in the United States means that marketers face increasingly diverse consumer markets.

People for the Ethical Treatment of Animals (PETA)have demonstrated against the sale of coats made of animal furs.PETA's efforts to change shoppers' attitudes represent a ____ force for fur retailers.

____ competitors are those that compete in the same product class,but their products have different features,benefits,and prices.

The proportion of the U.S.population that will be over 65 years of age is expected to decline by the year 2050.

Governments are big buyers,and the people who hold political offices often determine how much is purchased.

The strength of one's buying power depends partially on the state of the economy.

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

Developing and Managing Products

Services Marketing

Branding and Packaging

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