Question 1

Which of the following situations arises during a recession?

Accepted Answer

A)  An increase in the stock market valuations 
B)  An increase in the rate of unemployment 
C)  An increase in business and consumer confidence 
D)  An increase in consumer spending 
E)  An increase in purchasing power 
A)  An increase in the stock market valuations 
B)  An increase in the rate of unemployment 
C)  An increase in business and consumer confidence 
D)  An increase in consumer spending 
E)  An increase in purchasing power

Question 2

Some marketers have responded to the challenge of getting consumers' attention by moving some of their advertising expenditures from TV and print media to instant messaging and Internet-based reviews and ads.

Accepted Answer

A) True 
 B)False

Question 3

A company sells a mattress,which is claimed to promote good health.It also convinces customers to become part of a club where they receive commissions if they get other people to join the club or buy mattresses.This is an example of:

Accepted Answer

A)  bid rigging. 
B)  bait-and-switch. 
C)  predatory pricing. 
D)  referral selling. 
E)  pyramid selling. 
A)  bid rigging. 
B)  bait-and-switch. 
C)  predatory pricing. 
D)  referral selling. 
E)  pyramid selling.

Question 4

A situation in which sellers collude to set prices in response to quotations for products is called:

Accepted Answer

A)  bid rigging. 
B)  bait-and-switch. 
C)  predatory pricing. 
D)  referral selling. 
E)  pyramid selling. 
A)  bid rigging. 
B)  bait-and-switch. 
C)  predatory pricing. 
D)  referral selling. 
E)  pyramid selling.

Question 5

Which of the following trends has increased the difficulty that marketers face when they try to grab the attention of consumers?

Accepted Answer

A)  Canadians have more time for leisure and to spend with family. 
B)  The attention of multitasking consumers is divided. 
C)  Consumers must choose what shows they want to watch from fewer programs. 
D)  Kids prefer to spend more time on physical sports than electronic gadgets. 
E)  Minority groups are getting more familiar with the English language. 
A)  Canadians have more time for leisure and to spend with family. 
B)  The attention of multitasking consumers is divided. 
C)  Consumers must choose what shows they want to watch from fewer programs. 
D)  Kids prefer to spend more time on physical sports than electronic gadgets. 
E)  Minority groups are getting more familiar with the English language.

Question 6

The relative ease with which consumers can use social media has increased the power of consumers to affect a firm's marketing strategy.

Accepted Answer

A) True 
 B)False

Question 7

Joe is 65 years old.He is highly individualistic and invests in health and wellness products.He loves to indulge in products and services that help him maintain his youth.Joe belongs to the category of:

Accepted Answer

A)  Gen X. 
B)  Gen Y. 
C)  tweens. 
D)  baby boomers. 
E)  seniors. 
A)  Gen X. 
B)  Gen Y. 
C)  tweens. 
D)  baby boomers. 
E)  seniors.

Question 8

If the interest rate goes down,consumers have an incentive to save more because they earn more for loaning the bank their money.

Accepted Answer

A) True 
 B)False

Question 9

Differentiate between upper-class consumers and middle-class consumers.

Accepted Answer

Upper-class consumers are very affluent,

Question 10

Which of the following is true of Generation X?

Accepted Answer

A)  They are less likely to believe in advertising claims or what salespeople tell them. 
B)  They are more interested in status products than older generations. 
C)  They are more likely to enjoy greater prosperity than their parents. 
D)  They have little knowledge about products in the market. 
E)  They are more interested in shopping than their parents. 
A)  They are less likely to believe in advertising claims or what salespeople tell them. 
B)  They are more interested in status products than older generations. 
C)  They are more likely to enjoy greater prosperity than their parents. 
D)  They have little knowledge about products in the market. 
E)  They are more interested in shopping than their parents.

Question 11

The pricing that is intended to drive competitors out of the market or keep competitors from entering the market by fixing very low prices is called:

Accepted Answer

A)  bid rigging. 
B)  bait-and-switch. 
C)  predatory pricing. 
D)  referral selling. 
E)  pyramid selling. 
A)  bid rigging. 
B)  bait-and-switch. 
C)  predatory pricing. 
D)  referral selling. 
E)  pyramid selling.

Question 12

The fee to enter a music event is set at $100 for men and $50 for women.This is an example of:

Accepted Answer

A)  price fixing. 
B)  price discrimination. 
C)  predatory pricing. 
D)  referral selling. 
E)  resale price maintenance. 
A)  price fixing. 
B)  price discrimination. 
C)  predatory pricing. 
D)  referral selling. 
E)  resale price maintenance.

Question 13

A hotel management institute develops a training program for students.The fee for the training program is $1,000.The institute offers to share the training program with other colleges for a low price.One of the terms of the contract is that the other colleges should not offer the program to their students for less than $1,000.This is an example of:

Accepted Answer

A)  price fixing. 
B)  price discrimination. 
C)  predatory pricing. 
D)  referral selling. 
E)  resale price maintenance. 
A)  price fixing. 
B)  price discrimination. 
C)  predatory pricing. 
D)  referral selling. 
E)  resale price maintenance.

Question 14

Which of the following statements is true of Generation Y?

Accepted Answer

A)  They belong to the generational cohort of people born between 1972 and 1992 and the biggest cohort since the original postwar baby boom. 
B)  They belong to the generational cohort of people born after World War II between 1946 and 1965. 
C)  They belong to the generational cohort of people aged 65 and older. 
D)  They belong to the generational cohort of people who are not quite teenagers but are not young children either (ages 9 to 12). 
E)  They belong to the generational cohort of people between the ages of 36 and 47. 
A)  They belong to the generational cohort of people born between 1972 and 1992 and the biggest cohort since the original postwar baby boom. 
B)  They belong to the generational cohort of people born after World War II between 1946 and 1965. 
C)  They belong to the generational cohort of people aged 65 and older. 
D)  They belong to the generational cohort of people who are not quite teenagers but are not young children either (ages 9 to 12). 
E)  They belong to the generational cohort of people between the ages of 36 and 47.

Question 15

Which of the following generational cohorts is also referred to as the echo boom generation?

Accepted Answer

A)  Tweens 
B)  Generation Y 
C)  Generation X 
D)  Baby boomers 
E)  Seniors 
A)  Tweens 
B)  Generation Y 
C)  Generation X 
D)  Baby boomers 
E)  Seniors

Question 16

Megan is 40 years old and heads an advertising firm.She grew up in a home in which both parents worked.Although Megan possesses considerable spending power,she is much less interested in shopping than her parents and is far more cynical,which tends to make her an astute consumer.Megan takes a long vacation every summer and travels to different parts of the world.She is likely to belong to which cohort?

Accepted Answer

A)  Tweens 
B)  Generation Y 
C)  Generation X 
D)  Baby boomers 
E)  Seniors 
A)  Tweens 
B)  Generation Y 
C)  Generation X 
D)  Baby boomers 
E)  Seniors

Question 17

Philip lives with his wife Emma and four children in a rented single-room apartment.They live below poverty and take aid of the social security provided by the government.Which of the following categories do they belong to?

Accepted Answer

A)  Underclass consumers 
B)  Upper-class consumers 
C)  Working-class consumers 
D)  Middle-class consumers 
E)  Lower-class consumers 
A)  Underclass consumers 
B)  Upper-class consumers 
C)  Working-class consumers 
D)  Middle-class consumers 
E)  Lower-class consumers

Question 18

Canadian national food includes poutine and butter tarts.Canada is the world's largest producer of maple syrup.The music of Canada reflects the many influences that have shaped the country.The official symbols of Canada include the maple leaf and the beaver.Which of the following best exemplifies the given information?

Accepted Answer

A)  Competitive intelligence 
B)  Country culture 
C)  Generational cohort 
D)  Demographics 
E)  Regional subculture 
A)  Competitive intelligence 
B)  Country culture 
C)  Generational cohort 
D)  Demographics 
E)  Regional subculture

Question 19

Which of the following is an impact of government regulations on marketers?

Accepted Answer

A)  It drastically lessens the opportunity for marketers to sell more of their products. 
B)  It creates an uneven playing field for competition. 
C)  It contributes to the creation of legal irregularities in the market. 
D)  It increases the cost of compliance. 
E)  It promotes inflationary tendencies. 
A)  It drastically lessens the opportunity for marketers to sell more of their products. 
B)  It creates an uneven playing field for competition. 
C)  It contributes to the creation of legal irregularities in the market. 
D)  It increases the cost of compliance. 
E)  It promotes inflationary tendencies.

Question 20

An automobile company published an advertisement that said that prices for the latest model on offer started at $10,000 with an interest rate of 10 percent.The ad showed the logo and picture of a new model.When an interested customer spoke with the authorized dealer mentioned in the ad,he was informed that the bargain price was only on the older model.This is an example of:

Accepted Answer

A)  price fixing. 
B)  price discrimination. 
C)  predatory pricing. 
D)  misleading advertising. 
E)  resale price maintenance. 
A)  price fixing. 
B)  price discrimination. 
C)  predatory pricing. 
D)  misleading advertising. 
E)  resale price maintenance.

Which of the following situations arises during a recession?

Some marketers have responded to the challenge of getting consumers' attention by moving some of their advertising expenditures from TV and print media to instant messaging and Internet-based reviews and ads.

A company sells a mattress,which is claimed to promote good health.It also convinces customers to become part of a club where they receive commissions if they get other people to join the club or buy mattresses.This is an example of:

A situation in which sellers collude to set prices in response to quotations for products is called:

Which of the following trends has increased the difficulty that marketers face when they try to grab the attention of consumers?

The relative ease with which consumers can use social media has increased the power of consumers to affect a firm's marketing strategy.

Joe is 65 years old.He is highly individualistic and invests in health and wellness products.He loves to indulge in products and services that help him maintain his youth.Joe belongs to the category of:

If the interest rate goes down,consumers have an incentive to save more because they earn more for loaning the bank their money.

Differentiate between upper-class consumers and middle-class consumers.

Which of the following is true of Generation X?

The pricing that is intended to drive competitors out of the market or keep competitors from entering the market by fixing very low prices is called:

The fee to enter a music event is set at $100 for men and $50 for women.This is an example of:

Which of the following statements is true of Generation Y?

Which of the following generational cohorts is also referred to as the echo boom generation?

Philip lives with his wife Emma and four children in a rented single-room apartment.They live below poverty and take aid of the social security provided by the government.Which of the following categories do they belong to?

Which of the following is an impact of government regulations on marketers?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 3: Marketing Ethics

Which of the following situations arises during a recession?

Some marketers have responded to the challenge of getting consumers' attention by moving some of their advertising expenditures from TV and print media to instant messaging and Internet-based reviews and ads.

A company sells a mattress,which is claimed to promote good health.It also convinces customers to become part of a club where they receive commissions if they get other people to join the club or buy mattresses.This is an example of:

A situation in which sellers collude to set prices in response to quotations for products is called:

Which of the following trends has increased the difficulty that marketers face when they try to grab the attention of consumers?

The relative ease with which consumers can use social media has increased the power of consumers to affect a firm's marketing strategy.

Joe is 65 years old.He is highly individualistic and invests in health and wellness products.He loves to indulge in products and services that help him maintain his youth.Joe belongs to the category of:

If the interest rate goes down,consumers have an incentive to save more because they earn more for loaning the bank their money.

Differentiate between upper-class consumers and middle-class consumers.

Which of the following is true of Generation X?

The pricing that is intended to drive competitors out of the market or keep competitors from entering the market by fixing very low prices is called:

The fee to enter a music event is set at $100 for men and $50 for women.This is an example of:

Which of the following statements is true of Generation Y?

Which of the following generational cohorts is also referred to as the echo boom generation?

Philip lives with his wife Emma and four children in a rented single-room apartment.They live below poverty and take aid of the social security provided by the government.Which of the following categories do they belong to?

Which of the following is an impact of government regulations on marketers?

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters