Question 1

​To monitor changes in the marketing environment effectively, marketers must engage in​​

Accepted Answer

A) environmental scanning and analysis. 
B) economic scanning 
C) self-regulatory analysis 
D) marketing research analysis 
E) information collecting​ 
A) environmental scanning and analysis. 
B) economic scanning 
C) self-regulatory analysis 
D) marketing research analysis 
E) information collecting​

Question 2

If Julio Ruiz has an income of $30,000, pays $6,000 in rent, $1,200 in utilities, and $5,000 in taxes per year, his disposable income is

Accepted Answer

A) $7,800. 
B) $14,000. 
C) $9,000. 
D) $25,000. 
E) $20,000. 
A) $7,800. 
B) $14,000. 
C) $9,000. 
D) $25,000. 
E) $20,000.

Question 3

Decreases in taxes lead to decreases in disposable income.

Accepted Answer

A) True 
 B)False

Question 4

The marketing environment consists of external forces that directly or indirectly influence an organization's acquisition of inputs and generation of outputs.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Why are marketers interested in consumers' levels of disposable income?

Accepted Answer

A) It accurately predicts future buying power. 
B) It increases current buying power. 
C) It is what is left after taxes and savings to buy luxuries with. 
D) It is a ready source of buying power. 
E) It is essential for forecasting future business trends. 
A) It accurately predicts future buying power. 
B) It increases current buying power. 
C) It is what is left after taxes and savings to buy luxuries with. 
D) It is a ready source of buying power. 
E) It is essential for forecasting future business trends.

Question 7

Marketers who view political forces as being beyond their control are taking a(n) ____ response toward these forces.

Accepted Answer

A) reactive 
B) aggressive 
C) proactive 
D) competitive 
E) liberal 
A) reactive 
B) aggressive 
C) proactive 
D) competitive 
E) liberal

Question 8

In its advertisements for Bud Light beer, Anheuser-Busch has decided to include a statement saying "Know when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts?

Accepted Answer

A) Federal regulation 
B) State regulation 
C) City regulation 
D) Self-regulation 
E) Social regulation 
A) Federal regulation 
B) State regulation 
C) City regulation 
D) Self-regulation 
E) Social regulation

Question 9

An individual can have a high income and very little wealth.

Accepted Answer

A) True 
 B)False

Question 10

Scenario 3.2 Use the following to answer the questions.Clayton Homes, a mobile home manufacturer since 1934, introduced its new i-House in 2007. The i-House 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 i-House 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 i-House, the state governments have given it a tax abatement for any sales taxes.
-Refer to Scenario 3.2. Clayton Homes is revising its marketing strategy for the i-House due to the recent recession. Which of the following is the best action for promoting the i-House in the near future?

Accepted Answer

A) Emphasize the value of the i-House products. 
B) Focus on the "green" qualities of the home and target environmentally-conscious individuals. 
C) Significantly reduce advertising expenditures to create an exclusive image. 
D) Decrease production until the economy improves. 
E) Significantly reduce the prices on the company's product offerings. 
A) Emphasize the value of the i-House products. 
B) Focus on the "green" qualities of the home and target environmentally-conscious individuals. 
C) Significantly reduce advertising expenditures to create an exclusive image. 
D) Decrease production until the economy improves. 
E) Significantly reduce the prices on the company's product offerings.

Question 11

Scenario 3.2 Use the following to answer the questions.Clayton Homes, a mobile home manufacturer since 1934, introduced its new i-House in 2007. The i-House 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 i-House 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 i-House, the state governments have given it a tax abatement for any sales taxes.
-Refer to Scenario 3.2. The i-House's reduction of energy use, renewable resources as materials, "pod" customization, reduction of construction waste, and tax abatement status is/are examples of reaction to which environmental forces?

Accepted Answer

A) political and sociocultural. 
B) political, sociocultural, economic. 
C) sociocultural and economic. 
D) political and economic. 
E) political, economic, sociocultural, and technological. 
A) political and sociocultural. 
B) political, sociocultural, economic. 
C) sociocultural and economic. 
D) political and economic. 
E) political, economic, sociocultural, and technological.

Question 12

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 13

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 14

The Decca Electric Corporation produces light bulbs that are used in refrigerator manufacturing. Currently, only three other companies produce bulbs used in the production of refrigerators, with Decca as the leader in market share. In this case, Decca Electric Corporation would be considered

Accepted Answer

A) an oligopoly. 
B) a monopoly. 
C) involved in monopolistic competition. 
D) involved in perfect competition. 
E) involved in a perfect oligopoly. 
A) an oligopoly. 
B) a monopoly. 
C) involved in monopolistic competition. 
D) involved in perfect competition. 
E) involved in a perfect oligopoly.

Question 15

Changes Salon is part of the hair and personal care service industry. In what type of competitive environment is Changes Salon most likely operating?

Accepted Answer

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

Question 16

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 17

The major source of cultural values is the family.

Accepted Answer

A) True 
 B)False

Question 18

____ competitors provide very different products that satisfy the same basic customer need.

Accepted Answer

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

To monitor changes in the marketing environment effectively, marketers must engage in

If Julio Ruiz has an income of $30,000, pays $6,000 in rent, $1,200 in utilities, and $5,000 in taxes per year, his disposable income is

Decreases in taxes lead to decreases in disposable income.

The marketing environment consists of external forces that directly or indirectly influence an organization's acquisition of inputs and generation of outputs.

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

Why are marketers interested in consumers' levels of disposable income?

Marketers who view political forces as being beyond their control are taking a(n) ____ response toward these forces.

In its advertisements for Bud Light beer, Anheuser-Busch has decided to include a statement saying "Know when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts?

An individual can have a high income and very little wealth.

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

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

The Decca Electric Corporation produces light bulbs that are used in refrigerator manufacturing. Currently, only three other companies produce bulbs used in the production of refrigerators, with Decca as the leader in market share. In this case, Decca Electric Corporation would be considered

Changes Salon is part of the hair and personal care service industry. In what type of competitive environment is Changes Salon most likely operating?

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

The major source of cultural values is the family.

____ competitors provide very different products that satisfy the same basic customer need.

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

​To monitor changes in the marketing environment effectively, marketers must engage in​​

If Julio Ruiz has an income of $30,000, pays $6,000 in rent, $1,200 in utilities, and $5,000 in taxes per year, his disposable income is

Decreases in taxes lead to decreases in disposable income.

The marketing environment consists of external forces that directly or indirectly influence an organization's acquisition of inputs and generation of outputs.

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

Why are marketers interested in consumers' levels of disposable income?

Marketers who view political forces as being beyond their control are taking a(n) ____ response toward these forces.

In its advertisements for Bud Light beer, Anheuser-Busch has decided to include a statement saying "Know when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts?

An individual can have a high income and very little wealth.

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

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

The Decca Electric Corporation produces light bulbs that are used in refrigerator manufacturing. Currently, only three other companies produce bulbs used in the production of refrigerators, with Decca as the leader in market share. In this case, Decca Electric Corporation would be considered

Changes Salon is part of the hair and personal care service industry. In what type of competitive environment is Changes Salon most likely operating?

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

The major source of cultural values is the family.

____ competitors provide very different products that satisfy the same basic customer need.

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

To monitor changes in the marketing environment effectively, marketers must engage in