Question 1

____ competitors are those that compete in the same product class,but their products have different features,benefits,and prices.

Accepted Answer

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

Question 2

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 3

The type of competitive structure that exists in the case where there are almost no substitutes for a product is a(n)

Accepted Answer

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

Question 4

Numerous self-regulatory programs have been created to stop or stall the development of laws and government regulatory groups that would regulate marketing practices.

Accepted Answer

A) True 
 B)False

Question 5

If Toby Roberts 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 6

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

Question 7

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 8

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 9

Why must marketers be aware of new developments in technology?

Accepted Answer

The answer of Why must marketers be aware of new...

Question 10

Three primary methods of collecting information for environmental scanning are

Accepted Answer

A)  marketing research,company records,and advance orders. 
B)  secondary sources,company records,and observation. 
C)  executive knowledge,media,and marketing research. 
D)  observation,secondary sources,and marketing research. 
E)  company database,executive knowledge,and research. 
A)  marketing research,company records,and advance orders. 
B)  secondary sources,company records,and observation. 
C)  executive knowledge,media,and marketing research. 
D)  observation,secondary sources,and marketing research. 
E)  company database,executive knowledge,and research.

Question 11

International Office Supplies Wholesaler charges different prices to its various customers without any legal justification.This company is in violation of the

Accepted Answer

A)  Sherman Antitrust Act. 
B)  Wheeler-Lea Act. 
C)  Lanham Act. 
D)  Federal Trade Commission Act. 
E)  Robinson-Patman Act. 
A)  Sherman Antitrust Act. 
B)  Wheeler-Lea Act. 
C)  Lanham Act. 
D)  Federal Trade Commission Act. 
E)  Robinson-Patman Act.

Question 12

Technology is

Accepted Answer

A)  the application of scientific knowledge to build products that customers desire. 
B)  the application of knowledge and tools to solve problems and perform tasks more efficiently. 
C)  applied sciences. 
D)  one of the weakest marketing environment forces. 
E)  the result of research performed primarily by universities. 
A)  the application of scientific knowledge to build products that customers desire. 
B)  the application of knowledge and tools to solve problems and perform tasks more efficiently. 
C)  applied sciences. 
D)  one of the weakest marketing environment forces. 
E)  the result of research performed primarily by universities.

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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 15

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 16

Which of the following is the best example of utilizing technology to improve consumer relationships?

Accepted Answer

A)  Waiters recording orders on handheld computers 
B)  Surveying customers to determine their needs 
C)  Responding to changes in competitors' prices 
D)  Introducing stringent package standards 
E)  Requiring dolphin-safe tuna 
A)  Waiters recording orders on handheld computers 
B)  Surveying customers to determine their needs 
C)  Responding to changes in competitors' prices 
D)  Introducing stringent package standards 
E)  Requiring dolphin-safe tuna

Question 17

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 18

For a given level of buying power,the larger the family,the greater the willingness to spend.

Accepted Answer

A) True 
 B)False

Question 19

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 20

Technology can help marketers become more productive.

Accepted Answer

A) True 
 B)False

Exam 3: The Global Marketing Environment

____ competitors are those that compete in the same product class,but their products have different features,benefits,and prices.

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

The type of competitive structure that exists in the case where there are almost no substitutes for a product is a(n)

Numerous self-regulatory programs have been created to stop or stall the development of laws and government regulatory groups that would regulate marketing practices.

If Toby Roberts 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

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

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

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.

Why must marketers be aware of new developments in technology?

Three primary methods of collecting information for environmental scanning are

International Office Supplies Wholesaler charges different prices to its various customers without any legal justification.This company is in violation of the

Technology is

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

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

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

Which of the following is the best example of utilizing technology to improve consumer relationships?

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

For a given level of buying power,the larger the family,the greater the willingness to spend.

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

Technology can help marketers become more productive.

Strategic Marketing Management

Developing and Implementing Marketing Strategies

Information for Marketing Decisions

Selecting Target Markets

Consumer Behavior

Business Buying Behavior

International Marketing

Digital Marketing and Social Media

Product Decisions

Strategic Product Management

Services Marketing

Strategic Management of Branding and Packaging

A Supply Chain Management and Marketing Channels

B Supply Chain Management and Marketing Channels

A Retailing,wholesaling and Direct Marketing

B Retailing,wholesaling and Direct Marketing

Integrated Marketing Communications

Advertising and Publicrelations

Personal Selling and Sales Promotion

Strategic Pricing Management

Pricingdecisions

Global Issues,social Responsibility and Marketing

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