Question 1

If a person has buying power,he or she is influenced only by a product's absolute price.

Accepted Answer

A) True 
 B)False

Question 2

During which stage of the business cycle is unemployment low and total income relatively high?

Accepted Answer

A)  Repression 
B)  Prosperity 
C)  Recovery 
D)  Recession 
E)  Depression 
A)  Repression 
B)  Prosperity 
C)  Recovery 
D)  Recession 
E)  Depression

Question 3

The number of firms that control the supply of a product may affect the strength of competition.

Accepted Answer

A) True 
 B)False

Question 4

In the near future,what subculture will become the second largest group in the United States?

Accepted Answer

A)  Whites 
B)  African Americans 
C)  Asians 
D)  Hispanics 
E)  Native Americans 
A)  Whites 
B)  African Americans 
C)  Asians 
D)  Hispanics 
E)  Native Americans

Question 5

Contrast recession and depression.

Accepted Answer

The answer of Contrast recession and depression....

Question 6

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 7

When a firm continues to violate what the Better Business Bureau believes to be good business practices,what is one of the main actions the bureau will take?

Accepted Answer

A)  Lead a consumer boycott of the business. 
B)  Sue the chief executive of the business. 
C)  Impose fines on the owners/managers of the business. 
D)  Support legal ordinances against the business. 
E)  Warn consumers of the unfair practices. 
A)  Lead a consumer boycott of the business. 
B)  Sue the chief executive of the business. 
C)  Impose fines on the owners/managers of the business. 
D)  Support legal ordinances against the business. 
E)  Warn consumers of the unfair practices.

Question 8

All marketers interpret laws and regulations conservatively and strictly to avoid violating a vague law.

Accepted Answer

A) True 
 B)False

Question 9

J.Pitner Clothing is a medium-size specialty men's and women's clothing store in a market with many other specialty stores,department stores,and discounters.It has established a reputation for offering high-quality,fashionable merchandise with quality service.J.Pitner's competitive environment would best be characterized as

Accepted Answer

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

Question 10

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 11

Which of the following firms would be most likely to have a monopoly for its competitive environment?

Accepted Answer

A)  TimeWarner Cable TV 
B)  Mitchell Trucking 
C)  Continental Airlines 
D)  Rogers Plumbing 
E)  Chemlawn Lawn Care 
A)  TimeWarner Cable TV 
B)  Mitchell Trucking 
C)  Continental Airlines 
D)  Rogers Plumbing 
E)  Chemlawn Lawn Care

Question 12

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 13

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 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 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 16

The textbook suggests that the best approach a firm can take in responding to marketing environmental forces is

Accepted Answer

A)  reactive. 
B)  proactive. 
C)  inactive. 
D)  active. 
E)  variable. 
A)  reactive. 
B)  proactive. 
C)  inactive. 
D)  active. 
E)  variable.

Question 17

____ 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 18

Which of the following is an advantage that self-regulatory agencies such as the BBB and the NARB have over governmental laws and regulatory agencies?

Accepted Answer

A)  Firms must strictly abide by the rulings of self-regulatory agencies. 
B)  Establishment and implementation are usually less expensive. 
C)  They have better tools to enforce their rulings. 
D)  Guidelines are often stricter and create greater compliance from firms. 
E)  Money is very rarely an issue in enforcing decisions of self-regulatory agencies. 
A)  Firms must strictly abide by the rulings of self-regulatory agencies. 
B)  Establishment and implementation are usually less expensive. 
C)  They have better tools to enforce their rulings. 
D)  Guidelines are often stricter and create greater compliance from firms. 
E)  Money is very rarely an issue in enforcing decisions of self-regulatory agencies.

Question 19

Heidi decided to spend some of her saved money on tickets to a Cold Play concert coming to town,and now she is planning on buying a new outfit for the concert.What type of resources is Heidi making decisions about?

Accepted Answer

A)  Disposable income 
B)  Wealth 
C)  Buying power 
D)  Discretionary income 
E)  Savings income 
A)  Disposable income 
B)  Wealth 
C)  Buying power 
D)  Discretionary income 
E)  Savings income

Question 20

In today's marketing environment,competitors can take on many forms.For example,Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum.In this circumstance,these two products are described as ____ competitors.

Accepted Answer

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

Exam 3: The Global Marketing Environment

If a person has buying power,he or she is influenced only by a product's absolute price.

During which stage of the business cycle is unemployment low and total income relatively high?

The number of firms that control the supply of a product may affect the strength of competition.

In the near future,what subculture will become the second largest group in the United States?

Contrast recession and depression.

Which of the following actions is illegal?

When a firm continues to violate what the Better Business Bureau believes to be good business practices,what is one of the main actions the bureau will take?

All marketers interpret laws and regulations conservatively and strictly to avoid violating a vague law.

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 firms would be most likely to have a monopoly for its competitive environment?

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

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

Technology assessment is

The four major competitive structures are

The textbook suggests that the best approach a firm can take in responding to marketing environmental forces is

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

Which of the following is an advantage that self-regulatory agencies such as the BBB and the NARB have over governmental laws and regulatory agencies?

Heidi decided to spend some of her saved money on tickets to a Cold Play concert coming to town,and now she is planning on buying a new outfit for the concert.What type of resources is Heidi making decisions about?

In today's marketing environment,competitors can take on many forms.For example,Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum.In this circumstance,these two products are described as ____ competitors.

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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