Question 1

Firms always adopt and use new technology.

Accepted Answer

A) True 
 B)False

Question 2

The Sherman Antitrust Act, along with several other laws, is a procompetitive law because it was created to preserve competition.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following terms refers to consumers' propensity to buy?

Accepted Answer

A) Disposable income 
B) Discretionary income 
C) Buying power index 
D) Buying power 
E) Willingness to spend 
A) Disposable income 
B) Discretionary income 
C) Buying power index 
D) Buying power 
E) Willingness to spend

Question 4

Consumer protection legislation deals with all of the following legal concerns except

Accepted Answer

A) consumer safety. 
B) sale of hazardous products. 
C) monopolistic practices. 
D) information disclosure. 
E) health claims on food packages. 
A) consumer safety. 
B) sale of hazardous products. 
C) monopolistic practices. 
D) information disclosure. 
E) health claims on food packages.

Question 5

Many health care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases. This change in marketing strategy is best explained by a change in

Accepted Answer

A) demographics. 
B) cultural values. 
C) income levels. 
D) consumerism. 
E) subcultures. 
A) demographics. 
B) cultural values. 
C) income levels. 
D) consumerism. 
E) subcultures.

Question 6

Which of the following provides protection for and regulates brand names, brand marks, trade names, and trademarks?

Accepted Answer

A) Sherman Antitrust Act 
B) Clayton Act 
C) Robinson-Patman Act 
D) Lanham Act 
E) Celler-Kefauver Act 
A) Sherman Antitrust Act 
B) Clayton Act 
C) Robinson-Patman Act 
D) Lanham Act 
E) Celler-Kefauver Act

Question 7

The best approach for a company to take when monitoring its competitors is

Accepted Answer

A) watching for increases and decreases in competitors' prices and match them. 
B) analyzing all information that is readily available about competitors. 
C) sending employees to competitors' offices and factories to observe their actions. 
D) developing a system for gathering ongoing information about competitors. 
E) reading important business publications such as The Wall Street Journal. 
A) watching for increases and decreases in competitors' prices and match them. 
B) analyzing all information that is readily available about competitors. 
C) sending employees to competitors' offices and factories to observe their actions. 
D) developing a system for gathering ongoing information about competitors. 
E) reading important business publications such as The Wall Street Journal.

Question 8

Scenario 3.1 Use the following to answer the questions.Meyers' Sporting Goods, a national chain, has been doing business with Soljur Sports, a manufacturer of skateboards, for several years. Recently, it came to the attention of Meyers' financial director that the average cost per Soljur Sports skateboard had substantially increased over that of the previous year. The financial director asked the marketing department if they knew what the Soljur skateboards cost at competing sporting goods stores, to see if they too were likely hit with a higher cost.The marketing department found that the Soljur skateboards were priced at $15 less in the competing store than at Meyers. The financial director found that Soljur Sports was selling a similar number of skateboards to one of Meyers' competitors for $10 less per skateboard. The attorney for Meyers' Sporting Goods immediately filed a complaint with the Federal Trade Commission.
-Refer to Scenario 3.1. Suppose that a customer has a complaint against Meyers Sporting Goods Stores. He files a complaint with the Better Business Bureau. What action could the BBB take against Meyers if the complaint was substantiated and Meyers did not change the offending practice?

Accepted Answer

A) Issue a cease-and-desist order. 
B) Seek a $10,000 monetary penalty. 
C) Issue a warning to consumers through the local newspaper. 
D) Order Meyers to make restitution. 
E) Seek a $5,000 monetary penalty. 
A) Issue a cease-and-desist order. 
B) Seek a $10,000 monetary penalty. 
C) Issue a warning to consumers through the local newspaper. 
D) Order Meyers to make restitution. 
E) Seek a $5,000 monetary penalty.

Question 9

​As input for a presentation that you are jointly authoring, one of your marketing analysts submitted the following summary of the characteristics of the four different types of market structures companies compete in: ​
Competitive Structure
Number of Competitors
Market Barriers to Entry
Monopolistic Competition
Unlimited
No Barriers
Monopoly
Few
Some Barriers
Pure Competition
Many
Few Barriers
Oligopoly
One
Many Barriers
​
With respect to the classifications of number of competitors and barriers to entry, which one of the following statements is correct?
​

Accepted Answer

A) The monopolistic competition structure is properly classified. 
B) The monopoly and oligopoly structures' classifications should be reversed. 
C) The monopoly structure is properly classified. 
D) The oligopoly structure is properly classified. 
E) The pure competition and oligopoly structures are properly classified. 
A) The monopolistic competition structure is properly classified. 
B) The monopoly and oligopoly structures' classifications should be reversed. 
C) The monopoly structure is properly classified. 
D) The oligopoly structure is properly classified. 
E) The pure competition and oligopoly structures are properly classified.

Question 10

Which of the following industries is most commonly regulated by state regulatory agencies?

Accepted Answer

A) Automobile manufacturers 
B) Cigarette producers 
C) Clothing manufacturers 
D) Television networks 
E) Utility companies 
A) Automobile manufacturers 
B) Cigarette producers 
C) Clothing manufacturers 
D) Television networks 
E) Utility companies

Question 11

In 2009 the Coca-Cola Company introduced the "Freestyler," a new free-standing soda dispensers where consumers can chose from over 120 different types of soda and customize their drink. Freestylers would take the place of typical dispensers where there are only a few different types of soda brands available. In order to develop the new dispenser, Coca-Cola collected information on the soda-drinking habits of individuals in several different age groups, as well as information about new technologies for dispensing liquids from vending machines and the sales of its "fountain" syrup for national restaurant chains to use in their soda machines. Coca-Cola's collection of this information is an example of _____ while the assessment of its impact on the potential for the new "Freestyler" is an example of _________ ​

Accepted Answer

A) environmental scanning; environmental analysis 
B) an environmental force; environmental scanning 
C) environmental analysis; environmental strategy 
D) strategizing; environmental scanning 
E) strategic management; environmental scanning 
A) environmental scanning; environmental analysis 
B) an environmental force; environmental scanning 
C) environmental analysis; environmental strategy 
D) strategizing; environmental scanning 
E) strategic management; environmental scanning

Question 12

Scenario 3.1 Use the following to answer the questions.Meyers' Sporting Goods, a national chain, has been doing business with Soljur Sports, a manufacturer of skateboards, for several years. Recently, it came to the attention of Meyers' financial director that the average cost per Soljur Sports skateboard had substantially increased over that of the previous year. The financial director asked the marketing department if they knew what the Soljur skateboards cost at competing sporting goods stores, to see if they too were likely hit with a higher cost.The marketing department found that the Soljur skateboards were priced at $15 less in the competing store than at Meyers. The financial director found that Soljur Sports was selling a similar number of skateboards to one of Meyers' competitors for $10 less per skateboard. The attorney for Meyers' Sporting Goods immediately filed a complaint with the Federal Trade Commission.
-Refer to Scenario 3.1. If the Federal Trade Commission believes that Soljur Sporting Goods is acting in violation of the law, the first move for the FTC is to

Accepted Answer

A) issue a cease-and-desist order. 
B) issue a complaint stating that the business is in violation of the law. 
C) seek a monetary penalty. 
D) issue negative publicity about the company. 
E) contact the sporting goods manufacturers association 
A) issue a cease-and-desist order. 
B) issue a complaint stating that the business is in violation of the law. 
C) seek a monetary penalty. 
D) issue negative publicity about the company. 
E) contact the sporting goods manufacturers association

Question 13

​Credit increases current buying power at the expense of future buying power.

Accepted Answer

A) True 
 B)False

Question 14

Technology assessment is

Accepted Answer

A) measuring how much technology has been incorporated into an organization. 
B) trying to foresee the effects of new products and processes on the firm's operation and on society in general. 
C) assessing how much technology one wants to incorporate into a company in the future. 
D) judging how a firm's products affect society. 
E) weighing the cost of new technology to determine whether a firm can afford to use it. 
A) measuring how much technology has been incorporated into an organization. 
B) trying to foresee the effects of new products and processes on the firm's operation and on society in general. 
C) assessing how much technology one wants to incorporate into a company in the future. 
D) judging how a firm's products affect society. 
E) weighing the cost of new technology to determine whether a firm can afford to use it.

Question 15

The Better Business Bureau is probably the best-known

Accepted Answer

A) nongovernmental regulatory group. 
B) state-operated enforcement agency. 
C) national evaluator of advertisements. 
D) federal regulatory group. 
E) self-regulatory unit operating at the national level. 
A) nongovernmental regulatory group. 
B) state-operated enforcement agency. 
C) national evaluator of advertisements. 
D) federal regulatory group. 
E) self-regulatory unit operating at the national level.

Question 16

Monitoring the competitive environment guides marketers in developing competitive advantages.

Accepted Answer

A) True 
 B)False

Question 17

Many laws that directly influence marketing activities were enacted either to preserve a competitive atmosphere or to protect consumers.

Accepted Answer

A) True 
 B)False

Question 18

Technological changes do not directly affect what, how, when, and where products are marketed.

Accepted Answer

A) True 
 B)False

Question 19

Contrast recession and depression.

Accepted Answer

During a recession unemployment rises, w

Question 20

The two least common competitive structures are

Accepted Answer

A) monopolies and oligopolies. 
B) pure competition and monopolies. 
C) monopolistic competition and monopolies. 
D) pure competition and no competition. 
E) oligopolies and pure competition. 
A) monopolies and oligopolies. 
B) pure competition and monopolies. 
C) monopolistic competition and monopolies. 
D) pure competition and no competition. 
E) oligopolies and pure competition.

Firms always adopt and use new technology.

The Sherman Antitrust Act, along with several other laws, is a procompetitive law because it was created to preserve competition.

Which of the following terms refers to consumers' propensity to buy?

Consumer protection legislation deals with all of the following legal concerns except

Many health care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases. This change in marketing strategy is best explained by a change in

Which of the following provides protection for and regulates brand names, brand marks, trade names, and trademarks?

The best approach for a company to take when monitoring its competitors is

Which of the following industries is most commonly regulated by state regulatory agencies?

Credit increases current buying power at the expense of future buying power.

Technology assessment is

The Better Business Bureau is probably the best-known

Monitoring the competitive environment guides marketers in developing competitive advantages.

Many laws that directly influence marketing activities were enacted either to preserve a competitive atmosphere or to protect consumers.

Technological changes do not directly affect what, how, when, and where products are marketed.

Contrast recession and depression.

The two least common competitive structures are

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

Firms always adopt and use new technology.

The Sherman Antitrust Act, along with several other laws, is a procompetitive law because it was created to preserve competition.

Which of the following terms refers to consumers' propensity to buy?

Consumer protection legislation deals with all of the following legal concerns except

Many health care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases. This change in marketing strategy is best explained by a change in

Which of the following provides protection for and regulates brand names, brand marks, trade names, and trademarks?

The best approach for a company to take when monitoring its competitors is

Which of the following industries is most commonly regulated by state regulatory agencies?

​Credit increases current buying power at the expense of future buying power.

Technology assessment is

The Better Business Bureau is probably the best-known

Monitoring the competitive environment guides marketers in developing competitive advantages.

Many laws that directly influence marketing activities were enacted either to preserve a competitive atmosphere or to protect consumers.

Technological changes do not directly affect what, how, when, and where products are marketed.

Contrast recession and depression.

The two least common competitive structures are

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

Credit increases current buying power at the expense of future buying power.