Question 1

A good example of a government regulatory group at the local level is the Better Business Bureau.

Accepted Answer

A) True 
 B)False

Question 2

If political officials have positive feelings toward particular firms or industries, they are less likely to create or enforce laws and regulations that are unfavorable for business organizations.

Accepted Answer

A) True 
 B)False

Question 3

The tobacco industry in the United States is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

Accepted Answer

A) price sensitive. 
B) opportunistic. 
C) monopolistic competition. 
D) an oligopoly. 
E) a monopoly. 
A) price sensitive. 
B) opportunistic. 
C) monopolistic competition. 
D) an oligopoly. 
E) a monopoly.

Question 4

Which of the following actions is illegal?

Accepted Answer

A) Political officials influencing how much a government agency purchases and from whom. 
B) Corporate contributions to candidates. 
C) Corporate contributions to elected officials. 
D) Political officials helping businesses secure foreign markets. 
E) Paying political officials not to enforce a particular law. 
A) Political officials influencing how much a government agency purchases and from whom. 
B) Corporate contributions to candidates. 
C) Corporate contributions to elected officials. 
D) Political officials helping businesses secure foreign markets. 
E) Paying political officials not to enforce a particular law.

Question 5

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

Accepted Answer

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

Question 6

A monopoly exists when a firm with many potential competitors attempts to develop a marketing strategy to differentiate its products.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements about self-regulatory programs is false?

Accepted Answer

A) Self-regulatory programs are usually less expensive than governmental regulatory programs. 
B) Self-regulatory programs' guidelines generally are more realistic and operational. 
C) Many nongovernmental self-regulatory programs have neither the tools nor the authority to enforce guidelines. 
D) Self-regulatory guidelines generally are stricter than governmental regulatory programs. 
E) When a trade association sets up industry guidelines, some firms that are in the industry but not in the trade association do not follow the guidelines. 
A) Self-regulatory programs are usually less expensive than governmental regulatory programs. 
B) Self-regulatory programs' guidelines generally are more realistic and operational. 
C) Many nongovernmental self-regulatory programs have neither the tools nor the authority to enforce guidelines. 
D) Self-regulatory guidelines generally are stricter than governmental regulatory programs. 
E) When a trade association sets up industry guidelines, some firms that are in the industry but not in the trade association do not follow the guidelines.

Question 8

The major forces that make up the consumerism movement are consumer organizations and business organizations.

Accepted Answer

A) True 
 B)False

Question 9

When PepsiCo takes the information collected through research and attempts to assess and interpret what it means for its soft-drink marketing efforts, PepsiCo is engaged in environmental

Accepted Answer

A) scanning. 
B) forces. 
C) management. 
D) manipulation. 
E) analysis. 
A) scanning. 
B) forces. 
C) management. 
D) manipulation. 
E) analysis.

Question 10

What type of competitive structure exists when a firm produces a product that has no close substitutes?

Accepted Answer

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

Question 11

The strength of a person's "buying power" depends on economic conditions and

Accepted Answer

A) level of income. 
B) size of resources that can be traded in an exchange. 
C) how much a consumer will buy. 
D) a consumer's spending pattern. 
E) levels of median wealth. 
A) level of income. 
B) size of resources that can be traded in an exchange. 
C) how much a consumer will buy. 
D) a consumer's spending pattern. 
E) levels of median wealth.

Question 12

Wealth enables consumers to gain buying power.

Accepted Answer

A) True 
 B)False

Question 13

​Your company makes highly sophisticated components for military equipment. The U.S. Department of Defense is your largest customer. In recent years, you have expanded your customer base to include the militaries of all the major countries in the world.​ The following headlines appeared in the Sunday NYC Times newspaper recently:
1) "The Federal Reserve Board Chairman Sees Economic Growth Accelerating in the Third Quarter."
2) "Congressional Republicans and Democrats Fail to Reach Compromise on the New Immigration Bill."
3) "The Average Teen Spends Two Hours Per Day on Social Media Sites."
4) "State Department Considers Imposing New Sanctions on Exports of Sensitive Military Technology."
"5) "Unemployment Rate Falls to 6.2%."
Which one of the following statements is true regarding these headlines?"

Accepted Answer

A) All of the headlines should be categorized as economic forces when analyzing the company's marketing environment. 
B) All of the headlines should be categorized as political forces when analyzing the company's marketing environment. 
C) Headline #5 should be categorized as a sociocultural force in the company's marketing environment. 
D) Headline #4 should be categorized as a legal and regulatory force in the company's marketing environment. 
E) All of the headlines should be categorized as geopolitical forces in the company's marketing environment. 
A) All of the headlines should be categorized as economic forces when analyzing the company's marketing environment. 
B) All of the headlines should be categorized as political forces when analyzing the company's marketing environment. 
C) Headline #5 should be categorized as a sociocultural force in the company's marketing environment. 
D) Headline #4 should be categorized as a legal and regulatory force in the company's marketing environment. 
E) All of the headlines should be categorized as geopolitical forces in the company's marketing environment.

Question 14

Toyota has developed aluminum car bodies that are 100 percent recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?

Accepted Answer

A) Proactive 
B) Competitive 
C) Reactive 
D) Inactive 
E) Controllable 
A) Proactive 
B) Competitive 
C) Reactive 
D) Inactive 
E) Controllable

Question 15

A recession is characterized by extremely high unemployment, very low wages, minimal total disposable income, and lack of consumer confidence in the economy.

Accepted Answer

A) True 
 B)False

Question 16

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.

Accepted Answer

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

Question 17

A factor that affects willingness to spend is general economic conditions.

Accepted Answer

A) True 
 B)False

Question 18

The 1990 Nutrition Labeling and Education Act directly prohibits

Accepted Answer

A) exaggerated claims made by health and fitness products. 
B) putting the words "cholesterol-free" on any food package. 
C) putting nutritional information on most food products. 
D) exaggerated health claims on food packages. 
E) the use of any health claim on food packaging. 
A) exaggerated claims made by health and fitness products. 
B) putting the words "cholesterol-free" on any food package. 
C) putting nutritional information on most food products. 
D) exaggerated health claims on food packages. 
E) the use of any health claim on food packaging.

Question 19

In what ways is the United States becoming an increasingly diverse nation in terms of culture?

Accepted Answer

​The number of immigrants into the Unite

Question 20

An individual's after-tax income is called his or her discretionary income, which is used for spending and/or saving.

Accepted Answer

A) True 
 B)False

A good example of a government regulatory group at the local level is the Better Business Bureau.

If political officials have positive feelings toward particular firms or industries, they are less likely to create or enforce laws and regulations that are unfavorable for business organizations.

The tobacco industry in the United States is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

Which of the following actions is illegal?

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

A monopoly exists when a firm with many potential competitors attempts to develop a marketing strategy to differentiate its products.

Which of the following statements about self-regulatory programs is false?

The major forces that make up the consumerism movement are consumer organizations and business organizations.

When PepsiCo takes the information collected through research and attempts to assess and interpret what it means for its soft-drink marketing efforts, PepsiCo is engaged in environmental

What type of competitive structure exists when a firm produces a product that has no close substitutes?

The strength of a person's "buying power" depends on economic conditions and

Wealth enables consumers to gain buying power.

Toyota has developed aluminum car bodies that are 100 percent recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?

A recession is characterized by extremely high unemployment, very low wages, minimal total disposable income, and lack of consumer confidence in the economy.

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.

A factor that affects willingness to spend is general economic conditions.

The 1990 Nutrition Labeling and Education Act directly prohibits

In what ways is the United States becoming an increasingly diverse nation in terms of culture?

An individual's after-tax income is called his or her discretionary income, which is used for spending and/or saving.

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

A good example of a government regulatory group at the local level is the Better Business Bureau.

If political officials have positive feelings toward particular firms or industries, they are less likely to create or enforce laws and regulations that are unfavorable for business organizations.

The tobacco industry in the United States is dominated by three large companies. When any one of these companies changes its price on tobacco products, the other two companies quickly adjust their prices to match it. From these characteristics, the tobacco industry could best be described as

Which of the following actions is illegal?

What type of competitive structure exists when just a few sellers control a large portion of the supply of a product?

A monopoly exists when a firm with many potential competitors attempts to develop a marketing strategy to differentiate its products.

Which of the following statements about self-regulatory programs is false?

The major forces that make up the consumerism movement are consumer organizations and business organizations.

When PepsiCo takes the information collected through research and attempts to assess and interpret what it means for its soft-drink marketing efforts, PepsiCo is engaged in environmental

What type of competitive structure exists when a firm produces a product that has no close substitutes?

The strength of a person's "buying power" depends on economic conditions and

Wealth enables consumers to gain buying power.

Toyota has developed aluminum car bodies that are 100 percent recyclable and light enough to help conserve fuel. What kind of response is this to environmental forces?

A recession is characterized by extremely high unemployment, very low wages, minimal total disposable income, and lack of consumer confidence in the economy.

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.

A factor that affects willingness to spend is general economic conditions.

The 1990 Nutrition Labeling and Education Act directly prohibits

In what ways is the United States becoming an increasingly diverse nation in terms of culture?

An individual's after-tax income is called his or her discretionary income, which is used for spending and/or saving.

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