Question 1

In general, which of the following competitive structures is an organization least likely to operate?

Accepted Answer

A) Monopoly 
B) Monopolistic competition 
C) Oligopoly 
D) Elastic competition 
E) Pure competition 
A) Monopoly 
B) Monopolistic competition 
C) Oligopoly 
D) Elastic competition 
E) Pure competition

Question 2

Political and legal forces in the marketing environment are highly interrelated.

Accepted Answer

A) True 
 B)False

Question 3

The four major competitive structures are

Accepted Answer

A) monopolies, oligopolies, oligopolistic monopolies, and pure competition. 
B) pure competition, heavy competition, moderate competition, and light competition. 
C) brand, product, total budget, and generic. 
D) oligopolies, monopolies, monopolistic competition, and pure competition. 
E) monopolies, limited competition, oligopolistic competition, and pure competition. 
A) monopolies, oligopolies, oligopolistic monopolies, and pure competition. 
B) pure competition, heavy competition, moderate competition, and light competition. 
C) brand, product, total budget, and generic. 
D) oligopolies, monopolies, monopolistic competition, and pure competition. 
E) monopolies, limited competition, oligopolistic competition, and pure competition.

Question 4

Price discrimination is prohibited by the ____ Act.

Accepted Answer

A) Sherman Antitrust 
B) Wheeler-Lee 
C) Robinson-Patman 
D) Celler-Kefauver 
E) Consumer Goods Pricing 
A) Sherman Antitrust 
B) Wheeler-Lee 
C) Robinson-Patman 
D) Celler-Kefauver 
E) Consumer Goods Pricing

Question 5

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 6

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) ____ approach to marketing environmental forces.

Accepted Answer

A) inactive 
B) reactive 
C) proactive 
D) negative 
E) variable 
A) inactive 
B) reactive 
C) proactive 
D) negative 
E) variable

Question 7

Marketers primarily focus their environmental analysis on ____ competitors.

Accepted Answer

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

Question 8

Lindsay was reviewing her bank statement for last month. She had paid her rent, her car payment, electric and phone bills, and made three trips to the grocery. Lindsay had also bought tickets to a Katy Perry concert and new clothes to wear to the concert. The money spent on Lindsay's rent, car, electric and phone bills was likely from her ____ , while the money spent on the concert tickets and new clothes was from her _____.

Accepted Answer

A) Disposable income; savings 
B) Gross income; disposable income 
C) Disposable income; net income 
D) Disposable income; discretionary income 
E) Gross income; Savings income 
A) Disposable income; savings 
B) Gross income; disposable income 
C) Disposable income; net income 
D) Disposable income; discretionary income 
E) Gross income; Savings income

Question 9

​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: 
$\bullet$It is also a criminal law, and individuals and businesses that violate it may be prosecuted by the Department of Justice.
$\bullet$It imposes criminal penalties of up to $100 million for a corporation and $1 million for an individual.
$\bullet$It doesn't clearly prohibit mergers or interlocking directorates.
$\bullet$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 10

In addition to the proliferation of new organic brands many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in​

Accepted Answer

A) federal law. 
B) cultural values. 
C) demographics. 
D) consumerism. 
E) technological forces. 
A) federal law. 
B) cultural values. 
C) demographics. 
D) consumerism. 
E) technological forces.

Question 11

Describe several ways in which federal agencies influence marketing activities.

Accepted Answer

Federal regulatory agencies usually have

Question 12

Total buying power declines during periods of economic

Accepted Answer

A) recovery. 
B) prosperity. 
C) recession. 
D) uncertainty. 
E) expansion. 
A) recovery. 
B) prosperity. 
C) recession. 
D) uncertainty. 
E) expansion.

Question 13

​The Federal Reserve Bank just issued its economic report on the U.S. economy for the quarter just ended. The following are some of the key points mentioned in the report: 1. "Economic activity has continued to grow at a moderate pace since the last report."
2) "Manufacturers report that business activity has picked up considerably in recent weeks."
3) "Tourism activity has strengthened, no longer held back by harsh weather."
4) "General merchandise retailers report that sales rebounded strongly in April and early May."
"5) "Retail contacts generally say that inventories are at satisfactory levels, that prices are mostly steady, and that the degree of discounting is little changed from a year ago."
Based on these economic forces, you can conclude"

Accepted Answer

A) that the economy is entering the depression stage of the business cycle. 
B) that the economy is in the prosperity stage of the business cycle and consumers' buying power is declining. 
C) that the economy is in the recession stage of the business cycle and consumers' buying power is increasing. 
D) that the economy is in the recession stage of the business cycle and consumers' buying power is declining. 
E) that the economy is in the prosperity stage of the business cycle and consumers' buying power is increasing. 
A) that the economy is entering the depression stage of the business cycle. 
B) that the economy is in the prosperity stage of the business cycle and consumers' buying power is declining. 
C) that the economy is in the recession stage of the business cycle and consumers' buying power is increasing. 
D) that the economy is in the recession stage of the business cycle and consumers' buying power is declining. 
E) that the economy is in the prosperity stage of the business cycle and consumers' buying power is increasing.

Question 14

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 new Clayton Homes i-House 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 15

​Changes in cultural values have little effect on people's needs for products.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Personal computers and cellular phones are technology.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following are the most frequently sentenced organizational crimes?

Accepted Answer

A) False advertising and price discrimination 
B) Price discrimination and fraud 
C) Fraud and antitrust violations 
D) Price fixing and antitrust violations 
E) Fraud and price fixing 
A) False advertising and price discrimination 
B) Price discrimination and fraud 
C) Fraud and antitrust violations 
D) Price fixing and antitrust violations 
E) Fraud and price fixing

Question 19

____ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.

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 20

Most marketers operate in a competitive environment of either

Accepted Answer

A) oligopoly or monopoly. 
B) oligopoly or monopolistic competition. 
C) oligopoly or pure competition. 
D) monopoly or pure competition. 
E) pure competition or monopolistic competition. 
A) oligopoly or monopoly. 
B) oligopoly or monopolistic competition. 
C) oligopoly or pure competition. 
D) monopoly or pure competition. 
E) pure competition or monopolistic competition.

In general, which of the following competitive structures is an organization least likely to operate?

Political and legal forces in the marketing environment are highly interrelated.

The four major competitive structures are

Price discrimination is prohibited by the ____ Act.

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

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) ____ approach to marketing environmental forces.

Marketers primarily focus their environmental analysis on ____ competitors.

In addition to the proliferation of new organic brands many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in

Describe several ways in which federal agencies influence marketing activities.

Total buying power declines during periods of economic

Changes in cultural values have little effect on people's needs for products.

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

Personal computers and cellular phones are technology.

Which of the following are the most frequently sentenced organizational crimes?

____ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.

Most marketers operate in a competitive environment of either

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

In general, which of the following competitive structures is an organization least likely to operate?

Political and legal forces in the marketing environment are highly interrelated.

The four major competitive structures are

Price discrimination is prohibited by the ____ Act.

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

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) ____ approach to marketing environmental forces.

Marketers primarily focus their environmental analysis on ____ competitors.

In addition to the proliferation of new organic brands many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in​

Describe several ways in which federal agencies influence marketing activities.

Total buying power declines during periods of economic

​Changes in cultural values have little effect on people's needs for products.

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

Personal computers and cellular phones are technology.

Which of the following are the most frequently sentenced organizational crimes?

____ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.

Most marketers operate in a competitive environment of either

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

In addition to the proliferation of new organic brands many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in

Changes in cultural values have little effect on people's needs for products.