Question 1

Products such as grains and vegetables cannot function in an environment where perfect competition exists.

Accepted Answer

A) True 
 B)False

Question 2

Andrew was born in 1996.Which of the following statements is most likely to be true about him?

Accepted Answer

A) He will rarely use product offerings such as social media. 
B) He will be objective in his purchases. 
C) He is likely to be brand loyal to most products. 
D) He belongs to the least disruptive generation. 
A) He will rarely use product offerings such as social media. 
B) He will be objective in his purchases. 
C) He is likely to be brand loyal to most products. 
D) He belongs to the least disruptive generation.

Question 3

_____ is the term used to describe people born between 1946 and 1965.

Accepted Answer

A) Generation X 
B) Generation Z 
C) Generation Y 
D) Baby boomer 
A) Generation X 
B) Generation Z 
C) Generation Y 
D) Baby boomer

Question 4

Marketers are responding to socio-cultural changes in what areas?

Accepted Answer

A) Financial slowdown 
B) Unstable markets 
C) Communications and the media 
D) Group attitudes 
A) Financial slowdown 
B) Unstable markets 
C) Communications and the media 
D) Group attitudes

Question 5

Which of the following is the dominant household structure in Canada?

Accepted Answer

A) Married couples. 
B) Blended Families with more than two children. 
C) One-person households. 
D) Cohabitating couples with children. 
A) Married couples. 
B) Blended Families with more than two children. 
C) One-person households. 
D) Cohabitating couples with children.

Question 6

Which of the following is a basic function of the Competition Bureau?

Accepted Answer

A) endorsing marketing performance in Canada 
B) curtailing false and misleading representations to sell products 
C) establishing perfect competition in Canadian markets 
D) monitoring digital information available to customers 
A) endorsing marketing performance in Canada 
B) curtailing false and misleading representations to sell products 
C) establishing perfect competition in Canadian markets 
D) monitoring digital information available to customers

Question 7

Which of the following refers to the type of competition that occurs when a few companies control a market?

Accepted Answer

A) monopolistic competition 
B) oligopoly 
C) duopoly 
D) monopoly 
A) monopolistic competition 
B) oligopoly 
C) duopoly 
D) monopoly

Question 8

Describe the areas under which the Advertising Standards Canada (ASC) encourages truth in advertising

Accepted Answer

Advertising Standards Canada (ASC) encou

Question 9

Which of the following is a key difference between disposable income and discretionary income?

Accepted Answer

A) Discretionary income refers to the after-tax income, whereas disposable income refers to the before-tax income. 
B) Unlike disposable income, discretionary income is used to pay for food and clothing. 
C) Discretionary income will always be more than disposable income. 
D) Unlike disposable income, discretionary income is used only for purchases that are not deemed a necessity. 
A) Discretionary income refers to the after-tax income, whereas disposable income refers to the before-tax income. 
B) Unlike disposable income, discretionary income is used to pay for food and clothing. 
C) Discretionary income will always be more than disposable income. 
D) Unlike disposable income, discretionary income is used only for purchases that are not deemed a necessity.

Question 10

Which of the following refers to the problem of big city dwelling that Canada is facing?

Accepted Answer

A) Big cities in the country lag behind the other cities in growth rates. 
B) Most Canadians live in urban areas or their suburbs. 
C) Population of women is greater in urban areas than in rural areas. 
D) Population growth has been declining in big cities of Canada. 
A) Big cities in the country lag behind the other cities in growth rates. 
B) Most Canadians live in urban areas or their suburbs. 
C) Population of women is greater in urban areas than in rural areas. 
D) Population growth has been declining in big cities of Canada.

Question 11

Which of the following is a valid observation of monopolies?

Accepted Answer

A) Monopolies are an illegal form of business in most countries including Canada. 
B) The effect of substitute products is prominent in a monopoly. 
C) This is the most common form of market competition. 
D) A monopoly exists when there is only one company selling in the market. 
A) Monopolies are an illegal form of business in most countries including Canada. 
B) The effect of substitute products is prominent in a monopoly. 
C) This is the most common form of market competition. 
D) A monopoly exists when there is only one company selling in the market.

Question 12

Direct competitors refer to _____.

Accepted Answer

A) products that have the shortest life cycle in a market 
B) very similar products sold in the same category 
C) products that are used by the same customer 
D) dissimilar products that compete in the same market 
A) products that have the shortest life cycle in a market 
B) very similar products sold in the same category 
C) products that are used by the same customer 
D) dissimilar products that compete in the same market

Question 13

Recently, Canadians have moved towards purchasing more fresh, local and ethnic food options.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following differentiates a firm's strengths from its opportunities?

Accepted Answer

A) Companies can create opportunities, whereas they cannot build strengths. 
B) Strengths are positive attributes, whereas opportunities can be positive or negative. 
C) Strengths are internal aspects, whereas opportunities are external aspects. 
D) Strengths are situational variables, whereas opportunities are person variables. 
A) Companies can create opportunities, whereas they cannot build strengths. 
B) Strengths are positive attributes, whereas opportunities can be positive or negative. 
C) Strengths are internal aspects, whereas opportunities are external aspects. 
D) Strengths are situational variables, whereas opportunities are person variables.

Question 15

Internet access has changed the way consumers communicate with each other and with marketers.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following groups of people are mostly children of baby boomers?

Accepted Answer

A) Generation X 
B) Generation Y 
C) Youth boomer 
D) Net generation 
A) Generation X 
B) Generation Y 
C) Youth boomer 
D) Net generation

Question 17

Which of the following statements is true of monopolistic competition?

Accepted Answer

A) Monopolistic competition is driven by price competition rather than differentiation. 
B) Large numbers of sellers compete with each other in monopolistic competition. 
C) Monopolistic competition occurs when a few companies control a market. 
D) Companies that sell commodities are in a monopolistic competition. 
A) Monopolistic competition is driven by price competition rather than differentiation. 
B) Large numbers of sellers compete with each other in monopolistic competition. 
C) Monopolistic competition occurs when a few companies control a market. 
D) Companies that sell commodities are in a monopolistic competition.

Question 18

Which of the following is an item that people are less likely to purchase, if their discretionary income is very low?

Accepted Answer

A) sweater 
B) flour 
C) milk 
D) concert tickets 
A) sweater 
B) flour 
C) milk 
D) concert tickets

Question 19

Socio-cultural forces refer to cultural values, ideas, and attitudes that are learned and shared among a group of people.

Accepted Answer

A) True 
 B)False

Question 20

The total amount of money that Robert earns in a year is $100,000.He pays income tax $18,000 and other taxes of $6,000.He spends $15,000 to buy necessities. What is Robert's gross income?

Accepted Answer

A) $100,000 
B) $82,000 
C) $76,000 
D) $67,000 
A) $100,000 
B) $82,000 
C) $76,000 
D) $67,000

Products such as grains and vegetables cannot function in an environment where perfect competition exists.

Andrew was born in 1996.Which of the following statements is most likely to be true about him?

_____ is the term used to describe people born between 1946 and 1965.

Marketers are responding to socio-cultural changes in what areas?

Which of the following is the dominant household structure in Canada?

Which of the following is a basic function of the Competition Bureau?

Which of the following refers to the type of competition that occurs when a few companies control a market?

Describe the areas under which the Advertising Standards Canada (ASC) encourages truth in advertising

Which of the following is a key difference between disposable income and discretionary income?

Which of the following refers to the problem of big city dwelling that Canada is facing?

Which of the following is a valid observation of monopolies?

Direct competitors refer to _____.

Recently, Canadians have moved towards purchasing more fresh, local and ethnic food options.

Which of the following differentiates a firm's strengths from its opportunities?

Internet access has changed the way consumers communicate with each other and with marketers.

Which of the following groups of people are mostly children of baby boomers?

Which of the following statements is true of monopolistic competition?

Which of the following is an item that people are less likely to purchase, if their discretionary income is very low?

Socio-cultural forces refer to cultural values, ideas, and attitudes that are learned and shared among a group of people.

The total amount of money that Robert earns in a year is $100,000.He pays income tax $18,000 and other taxes of $6,000.He spends $15,000 to buy necessities. What is Robert's gross income?

Marketing Fundamentals

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters

Exam 2: The Marketing Environment

Products such as grains and vegetables cannot function in an environment where perfect competition exists.

Andrew was born in 1996.Which of the following statements is most likely to be true about him?

_____ is the term used to describe people born between 1946 and 1965.

Marketers are responding to socio-cultural changes in what areas?

Which of the following is the dominant household structure in Canada?

Which of the following is a basic function of the Competition Bureau?

Which of the following refers to the type of competition that occurs when a few companies control a market?

Describe the areas under which the Advertising Standards Canada (ASC) encourages truth in advertising

Which of the following is a key difference between disposable income and discretionary income?

Which of the following refers to the problem of big city dwelling that Canada is facing?

Which of the following is a valid observation of monopolies?

Direct competitors refer to _____.

Recently, Canadians have moved towards purchasing more fresh, local and ethnic food options.

Which of the following differentiates a firm's strengths from its opportunities?

Internet access has changed the way consumers communicate with each other and with marketers.

Which of the following groups of people are mostly children of baby boomers?

Which of the following statements is true of monopolistic competition?

Which of the following is an item that people are less likely to purchase, if their discretionary income is very low?

Socio-cultural forces refer to cultural values, ideas, and attitudes that are learned and shared among a group of people.

The total amount of money that Robert earns in a year is $100,000.He pays income tax $18,000 and other taxes of $6,000.He spends $15,000 to buy necessities. What is Robert's gross income?

Marketing Fundamentals

Consumer Behaviour

Market Research Metrics and Analytics

B2B Marketing

Segmentation Targeting and Positioning

Products and Brands

New Product Development

Pricing

Marketing Channels and Supply Chain

Retailing and Wholesaling

Marketing Communications

Digital Marketing Communications

Customer Relationship Management

Marketing and Strategic Planning

Filters