Question 1

Which of the following laws has the purpose of protecting competition?

Accepted Answer

A) Lanham Act 
B) Federal Trade Commission Act 
C) Fair Trade Act 
D) Unfair Practices Act 
E) Robinson-Patman Act 
A) Lanham Act 
B) Federal Trade Commission Act 
C) Fair Trade Act 
D) Unfair Practices Act 
E) Robinson-Patman Act

Question 2

The term "minority" is currently defined as "a relatively small group of people who differ from others with respect to race,religion,language,or political persuasion." Why will the term have different implications in the future?

Accepted Answer

A) There will be stronger limits on immigration,so the presence of minorities will be less noticeable. 
B) Members of Generation Y are more socially conscious and embrace diversity. 
C) The term minority has become politically incorrect. 
D) The meaning of the word won't change at all;the group with the smallest population,regardless of its absolute size,will always be labeled "minority." 
E) The size of most ethnic groups will double during the next two decades. 
A) There will be stronger limits on immigration,so the presence of minorities will be less noticeable. 
B) Members of Generation Y are more socially conscious and embrace diversity. 
C) The term minority has become politically incorrect. 
D) The meaning of the word won't change at all;the group with the smallest population,regardless of its absolute size,will always be labeled "minority." 
E) The size of most ethnic groups will double during the next two decades.

Question 3

Which of the following measures consumers' expectations of the U.S.economy?

Accepted Answer

A) Index of Consumer Sentiment 
B) Consumer Expenditure Survey 
C) U.S.2010 Census 
D) Survey of Consumer Finances 
E) Survey of Buying Power 
A) Index of Consumer Sentiment 
B) Consumer Expenditure Survey 
C) U.S.2010 Census 
D) Survey of Consumer Finances 
E) Survey of Buying Power

Question 4

The U.S.Census Bureau has developed a two-level classification system that reflects the varying locations of the population.The smaller of these classifications is called the

Accepted Answer

A) consolidated metropolitan statistical area. 
B) micropolitan division. 
C) metropolitan statistical area. 
D) minipolitan statistical area. 
E) micropolitan statistical area. 
A) consolidated metropolitan statistical area. 
B) micropolitan division. 
C) metropolitan statistical area. 
D) minipolitan statistical area. 
E) micropolitan statistical area.

Question 5

All of the following statements are true EXCEPT:

Accepted Answer

A) Only 21 percent of American households consist of married couples with children. 
B) Parents close to retirement are refusing to allow their parents or children to move in with them-they like their "empty nest" lifestyle. 
C) The increase in unmarried partner households is likely due to the current economic downturn. 
D) Today,most divorced couples choose to remarry rather than remaining in single person households,with or without children. 
E) Currently,many young people are postponing marriage and parenthood. 
A) Only 21 percent of American households consist of married couples with children. 
B) Parents close to retirement are refusing to allow their parents or children to move in with them-they like their "empty nest" lifestyle. 
C) The increase in unmarried partner households is likely due to the current economic downturn. 
D) Today,most divorced couples choose to remarry rather than remaining in single person households,with or without children. 
E) Currently,many young people are postponing marriage and parenthood.

Question 6

Environmental scanning refers to

Accepted Answer

A) assessing any possible negative impact a firm's activities might have on the local ecology. 
B) continually acquiring information on events occurring outside the organization to identify and interpret potential trends. 
C) setting up a regular schedule to assess the performance of different divisions within a firm. 
D) initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment. 
E) requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome. 
A) assessing any possible negative impact a firm's activities might have on the local ecology. 
B) continually acquiring information on events occurring outside the organization to identify and interpret potential trends. 
C) setting up a regular schedule to assess the performance of different divisions within a firm. 
D) initiating an internal talent search to identify employees who can think "outside the box" to generate solutions to marketing problems caused by changes in the marketing environment. 
E) requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.

Question 7

Small businesses account for __________ of the gross domestic product (GDP).

Accepted Answer

A) 21 percent 
B) 32 percent 
C) 44 percent 
D) 68 percent 
E) 82 percent 
A) 21 percent 
B) 32 percent 
C) 44 percent 
D) 68 percent 
E) 82 percent

Question 8

Concern that Microsoft's 86 percent share of the PC operating system market was a __________ that limited consumers' Internet access to its Internet Explorer browser instead of offering them a choice (Firefox,Safari,Opera,or Internet Explorer)led to lawsuits and consent decrees from the U.S.Justice Department and investigations and fines from the European Union.

Accepted Answer

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

Question 9

Which generational cohort is interested in distinctive,memorable,and personal experiences?

Accepted Answer

A) baby busters 
B) Generation Y 
C) baby boomers 
D) Generation X 
E) Generation Z 
A) baby busters 
B) Generation Y 
C) baby boomers 
D) Generation X 
E) Generation Z

Question 10

MySpace.com is a social network that is targeted primarily to people under the age of 25 years old.In 2005,when MySpace was the leading social network,News Corp,owner of The Wall Street Journal and Fox News,bought the firm for $580 million.Since then,its membership has declined precipitously due to changing consumer preferences.As a result,News Corp.sold MySpace to a group of investors for a paltry $38 million in mid-2011.This is an example of how __________ forces impact the marketing environment.

Accepted Answer

A) economic 
B) competitive 
C) social 
D) technological 
E) regulatory 
A) economic 
B) competitive 
C) social 
D) technological 
E) regulatory

Question 11

It is predicted that the number of people in the U.S.over the age of 65 will __________ by 2030.

Accepted Answer

A) almost double 
B) be significantly less than the growth of children under 16 years old 
C) increase at the same worldwide rate 
D) decrease at the same worldwide rate 
E) begin to decrease,relative to previous growth rates 
A) almost double 
B) be significantly less than the growth of children under 16 years old 
C) increase at the same worldwide rate 
D) decrease at the same worldwide rate 
E) begin to decrease,relative to previous growth rates

Question 12

A notable trend of the U.S.population is the changing racial and ethnic composition.__________,who may be from any race,currently make up 16 percent of the U.S.population.

Accepted Answer

A) Hispanics 
B) African Americans 
C) Asian Americans 
D) Caucasians 
E) American Indian and other native populations 
A) Hispanics 
B) African Americans 
C) Asian Americans 
D) Caucasians 
E) American Indian and other native populations

Question 13

Recent legislation,such as the Children's Online Privacy Protection Act and the Controlling the Assault of Non-solicited Pornography and Marketing (CAN-SPAM)Act,are reforms that are

Accepted Answer

A) promotion-related. 
B) price-related. 
C) distribution-related. 
D) self-regulated. 
E) product-related. 
A) promotion-related. 
B) price-related. 
C) distribution-related. 
D) self-regulated. 
E) product-related.

Question 14

Policy makers at the Federal Reserve in the United States believe it takes a far bigger change in inflation to affect unemployment than it did 25 years ago.Now,when inflation fluctuates,they are more likely to blame other factors,such as the price of oil.This is an example of a(n)__________ environmental force.

Accepted Answer

A) cultural 
B) regulatory 
C) competitive 
D) cost 
E) economic 
A) cultural 
B) regulatory 
C) competitive 
D) cost 
E) economic

Question 15

Which one of the following is a value that would be commonly held in the United States today?

Accepted Answer

A) individualism 
B) tradition 
C) group welfare 
D) nostalgia 
E) acceptance of birthright 
A) individualism 
B) tradition 
C) group welfare 
D) nostalgia 
E) acceptance of birthright

Question 16

In a recent issue of AARP The Magazine,a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

Accepted Answer

A) Generation X 
B) baby busters 
C) Generation Y 
D) the greatest generation 
E) baby boomers 
A) Generation X 
B) baby busters 
C) Generation Y 
D) the greatest generation 
E) baby boomers

Question 17

A trademark is a device that can take almost any form,as long as it is capable of identifying and distinguishing specific products or services.NutraSweet's trademark for its pastel blue artificial sweetener packages is an example of a product that is protected by

Accepted Answer

A) combination of letters and designs. 
B) color. 
C) product shape. 
D) picture. 
E) logo. 
A) combination of letters and designs. 
B) color. 
C) product shape. 
D) picture. 
E) logo.

Question 18

In 2002,Geek Squad was purchased by leading consumer electronics retailer __________.

Accepted Answer

A) Fry's Electronics. 
B) Best Buy. 
C) Circuit City. 
D) Micro Center. 
E) Ultimate Electronics. 
A) Fry's Electronics. 
B) Best Buy. 
C) Circuit City. 
D) Micro Center. 
E) Ultimate Electronics.

Question 19

Which generational cohort is often referred to as the echo-boom or baby boomlet? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Accepted Answer

The generational cohort labeled Generati

Question 20

Which of the following measures consumers' expectations of the U.S.economy?

Accepted Answer

A) Consumer Expenditure Survey 
B) U.S.2010 Census 
C) Consumer Confidence Index 
D) Survey of Consumer Finances 
E) Survey of Buying Power 
A) Consumer Expenditure Survey 
B) U.S.2010 Census 
C) Consumer Confidence Index 
D) Survey of Consumer Finances 
E) Survey of Buying Power

Exam 3: Scanning the Marketing Environment

Which of the following laws has the purpose of protecting competition?

The term "minority" is currently defined as "a relatively small group of people who differ from others with respect to race,religion,language,or political persuasion." Why will the term have different implications in the future?

Which of the following measures consumers' expectations of the U.S.economy?

The U.S.Census Bureau has developed a two-level classification system that reflects the varying locations of the population.The smaller of these classifications is called the

All of the following statements are true EXCEPT:

Environmental scanning refers to

Small businesses account for __________ of the gross domestic product (GDP).

Which generational cohort is interested in distinctive,memorable,and personal experiences?

It is predicted that the number of people in the U.S.over the age of 65 will __________ by 2030.

A notable trend of the U.S.population is the changing racial and ethnic composition.__________,who may be from any race,currently make up 16 percent of the U.S.population.

Recent legislation,such as the Children's Online Privacy Protection Act and the Controlling the Assault of Non-solicited Pornography and Marketing (CAN-SPAM)Act,are reforms that are

Which one of the following is a value that would be commonly held in the United States today?

In a recent issue of AARP The Magazine,a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

A trademark is a device that can take almost any form,as long as it is capable of identifying and distinguishing specific products or services.NutraSweet's trademark for its pastel blue artificial sweetener packages is an example of a product that is protected by

In 2002,Geek Squad was purchased by leading consumer electronics retailer __________.

Which generational cohort is often referred to as the echo-boom or baby boomlet? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Which of the following measures consumers' expectations of the U.S.economy?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Ethical and Social Responsibility in Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

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