Question 1

The most recent estimate indicates that the population of the world today is about __________.

Accepted Answer

A) 5.0 billion 
B) 6.3 billion 
C) 7.1 billion 
D) 7.9 billion 
E) 9.5 billion 
A) 5.0 billion 
B) 6.3 billion 
C) 7.1 billion 
D) 7.9 billion 
E) 9.5 billion

Question 2

A micropolitan statistical area refers to

Accepted Answer

A) a statistical area of 2.5 million people or more. 
B) a highly urbanized area with a centrally located population of at least 1,000,000 people. 
C) a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area. 
D) a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration. 
E) a statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration. 
A) a statistical area of 2.5 million people or more. 
B) a highly urbanized area with a centrally located population of at least 1,000,000 people. 
C) a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area. 
D) a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration. 
E) a statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration.

Question 3

The two major purposes for any trademark statute are to:

Accepted Answer

A) (1)protect the investment of energy,time,and money that the owner of a trademark has invested in the development of the product and (2)guarantee the owner of the trademark complete rights to his work for the duration of the owner's lifetime. 
B) (1)protect the inventor's individual rights and (2)provide the company with the maximum profits possible. 
C) protect the rights of the inventor both here and abroad. 
D) (1)protect the public so they will get the product it wants and asks for and (2)protect the government so it will be able to collect its fair share of taxes from the revenues generated. 
E) (1)protect the firm selling the trademarked product and (2)protect the consumer buying the product. 
A) (1)protect the investment of energy,time,and money that the owner of a trademark has invested in the development of the product and (2)guarantee the owner of the trademark complete rights to his work for the duration of the owner's lifetime. 
B) (1)protect the inventor's individual rights and (2)provide the company with the maximum profits possible. 
C) protect the rights of the inventor both here and abroad. 
D) (1)protect the public so they will get the product it wants and asks for and (2)protect the government so it will be able to collect its fair share of taxes from the revenues generated. 
E) (1)protect the firm selling the trademarked product and (2)protect the consumer buying the product.

Question 4

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones like misleading promotions?

Accepted Answer

A) Robinson-Patman Act 
B) Consumer Product Safety Act 
C) Lanham Act 
D) Federal Trade Commission Act 
E) Fair Packaging and Labeling Act 
A) Robinson-Patman Act 
B) Consumer Product Safety Act 
C) Lanham Act 
D) Federal Trade Commission Act 
E) Fair Packaging and Labeling Act

Question 5

By 2030,the U.S.population is expected to exceed

Accepted Answer

A) 273 million. 
B) 314 million. 
C) 323 million. 
D) 358 million. 
E) 414 million. 
A) 273 million. 
B) 314 million. 
C) 323 million. 
D) 358 million. 
E) 414 million.

Question 6

What actions does the Federal Trade Commission have the power to implement when dealing with deceptive or misleading advertising and unfair business practices?

Accepted Answer

Promotion and advertising are aspects of

Question 7

What three factors contributed to changes in attitudes of women during the past thirty years?

Accepted Answer

Several factors have contributed to the

Question 8

During the holiday shopping season,many catalog retailers offer buyers price reductions,coupons,two-for-one deals,and/or free delivery.This is because these catalog retailers operate in a(n)__________ environment.

Accepted Answer

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

Question 9

There are many diet aids on the market.They promise immediate weight loss without exercise or a change in diet.Each is accompanied by a testimonial from a satisfied user.If you pay close attention,you will notice that each ad also contains the statement,"Results may vary." Most likely,this statement is included to prevent the Federal Trade Commission (FTC)from requiring the dietary aid distributor from having to

Accepted Answer

A) engage in self-regulation. 
B) engage in comparative advertising. 
C) issue an advertising injunction. 
D) guarantee truth-in-advertising. 
E) run corrective advertising. 
A) engage in self-regulation. 
B) engage in comparative advertising. 
C) issue an advertising injunction. 
D) guarantee truth-in-advertising. 
E) run corrective advertising.

Question 10

The form of competition in which many sellers compete with substitutable products within a price range is called

Accepted Answer

A) pure competition. 
B) cross-market competition. 
C) an oligopoly. 
D) monopolistic competition. 
E) a monopoly. 
A) pure competition. 
B) cross-market competition. 
C) an oligopoly. 
D) monopolistic competition. 
E) a monopoly.

Question 11

Describe the three components of competition.

Accepted Answer

The three components of competition are:

Question 12

Coca-Cola hired "brand police" to make sure that the Coca-Cola brand name and logo are not used without written permission.Why is Coca-Cola so rigorous in protecting its trademark?

Accepted Answer

A) Coca-Cola risks losing its generic status. 
B) In order to maintain the use of its widely recognizable trademark,Coca-Cola must prevent the name from becoming generic. 
C) The Robinson-Patman Act conferred ownership of the Coke name and other trademarked property to the Coca-Cola Company. 
D) The government will file charges for trademark infringement only if the owner of the trademark has documented proof of wrongdoing. 
E) By protecting its trademark,Coca-Cola is protecting the entire soft drink industry from indirect competition. 
A) Coca-Cola risks losing its generic status. 
B) In order to maintain the use of its widely recognizable trademark,Coca-Cola must prevent the name from becoming generic. 
C) The Robinson-Patman Act conferred ownership of the Coke name and other trademarked property to the Coca-Cola Company. 
D) The government will file charges for trademark infringement only if the owner of the trademark has documented proof of wrongdoing. 
E) By protecting its trademark,Coca-Cola is protecting the entire soft drink industry from indirect competition.

Question 13

The grassroots movement started in the 1960s to increase the influence,power,and rights of consumers in dealing with institutions is referred to as __________.

Accepted Answer

A) Naderism 
B) consumerism 
C) green marketing 
D) anti-corporate activism 
E) cause marketing 
A) Naderism 
B) consumerism 
C) green marketing 
D) anti-corporate activism 
E) cause marketing

Question 14

Which of the following trends identified in an environmental scan is an economic trend?

Accepted Answer

A) The U.S. ,Japan,China,and the E.U.countries will increase investments in sustainable living infrastructure. 
B) 3D printing is creating a resurgence in domestic manufacturing. 
C) Partnerships,collaborations,and co-creation of value will become important dimensions of business rivalry. 
D) Healthcare,gun-control,and marijuana regulation are receiving increasing attention. 
E) High unemployment and reduced income is increasing demand at discount retailers for lower-cost and smaller-sized products. 
A) The U.S. ,Japan,China,and the E.U.countries will increase investments in sustainable living infrastructure. 
B) 3D printing is creating a resurgence in domestic manufacturing. 
C) Partnerships,collaborations,and co-creation of value will become important dimensions of business rivalry. 
D) Healthcare,gun-control,and marijuana regulation are receiving increasing attention. 
E) High unemployment and reduced income is increasing demand at discount retailers for lower-cost and smaller-sized products.

Question 15

The first major federal legislation passed to forbid contracts,combinations,or conspiracies in restraint of trade in the United States was the

Accepted Answer

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

Question 16

A local pet supplies boutique had a good year with rising revenues and reduced operating costs that resulted in the owner receiving personal income of approximately $100,000.One-third of that was taken for local,state,and federal income taxes and another third went to pay for a home mortgage,car payments,food,clothing,and other necessities.What is the remaining third called?

Accepted Answer

A) gross income 
B) bonus income 
C) discretionary income 
D) disposable income 
E) profit 
A) gross income 
B) bonus income 
C) discretionary income 
D) disposable income 
E) profit

Question 17

Which of the following statements regarding environmental scanning is the most accurate?

Accepted Answer

A) Environmental scanning changes the marketing environment. 
B) Environmental scanning identifies and interprets potential trends. 
C) Environmental scanning should be done at least every five years. 
D) Environmental scanning focuses primarily on ecological factors. 
E) There is too much information generated from environmental scanning to make it viable for small firms. 
A) Environmental scanning changes the marketing environment. 
B) Environmental scanning identifies and interprets potential trends. 
C) Environmental scanning should be done at least every five years. 
D) Environmental scanning focuses primarily on ecological factors. 
E) There is too much information generated from environmental scanning to make it viable for small firms.

Question 18

Which of the following statements regarding the Geek Squad is most accurate?

Accepted Answer

A) Men in need help from the Geek squad do not want women "Geeks" to help them because it makes them feel inferior. 
B) The Geek Squad has exclusive rights to the home-help segment thanks to their relationship with Best Buy. 
C) The Geek Squad can only assist customers who purchase Dell Computers. 
D) The need for the Geek Squad was the result of many environmental factors,not simply a need for technological knowledge. 
E) Although the Geek Squad brought more customers into Best Buy,the rate of product returns has only dropped a negligible amount. 
A) Men in need help from the Geek squad do not want women "Geeks" to help them because it makes them feel inferior. 
B) The Geek Squad has exclusive rights to the home-help segment thanks to their relationship with Best Buy. 
C) The Geek Squad can only assist customers who purchase Dell Computers. 
D) The need for the Geek Squad was the result of many environmental factors,not simply a need for technological knowledge. 
E) Although the Geek Squad brought more customers into Best Buy,the rate of product returns has only dropped a negligible amount.

Question 19

According to a recent Federal Communications Commission report,AT&T,Verizon,Sprint-Nextel,and T-Mobile control 93 percent of the subscribers in the U.S.wireless mobile phone market.Which form of competition characterizes this market?

Accepted Answer

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

Question 20

All of the following reasons explain the change in adult coffee consumption EXCEPT:

Accepted Answer

A) many coffee marketers increased the distribution of their coffees in supermarkets. 
B) many coffee marketers added new coffee flavors and seasonal blends. 
C) there was an increase in coffee consumption since 2003 among those who are 18 to 24 years old. 
D) there was a shift in demand from coffee to other competing beverages such as tea,soft drinks,juices,and bottled water. 
E) there was an increase in away-from-home consumption due to an increase in consumers' discretionary incomes. 
A) many coffee marketers increased the distribution of their coffees in supermarkets. 
B) many coffee marketers added new coffee flavors and seasonal blends. 
C) there was an increase in coffee consumption since 2003 among those who are 18 to 24 years old. 
D) there was a shift in demand from coffee to other competing beverages such as tea,soft drinks,juices,and bottled water. 
E) there was an increase in away-from-home consumption due to an increase in consumers' discretionary incomes.

Exam 3: Scanning the Marketing Environment

The most recent estimate indicates that the population of the world today is about __________.

A micropolitan statistical area refers to

The two major purposes for any trademark statute are to:

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones like misleading promotions?

By 2030,the U.S.population is expected to exceed

What actions does the Federal Trade Commission have the power to implement when dealing with deceptive or misleading advertising and unfair business practices?

What three factors contributed to changes in attitudes of women during the past thirty years?

During the holiday shopping season,many catalog retailers offer buyers price reductions,coupons,two-for-one deals,and/or free delivery.This is because these catalog retailers operate in a(n)__________ environment.

The form of competition in which many sellers compete with substitutable products within a price range is called

Describe the three components of competition.

Coca-Cola hired "brand police" to make sure that the Coca-Cola brand name and logo are not used without written permission.Why is Coca-Cola so rigorous in protecting its trademark?

The grassroots movement started in the 1960s to increase the influence,power,and rights of consumers in dealing with institutions is referred to as __________.

Which of the following trends identified in an environmental scan is an economic trend?

The first major federal legislation passed to forbid contracts,combinations,or conspiracies in restraint of trade in the United States was the

Which of the following statements regarding environmental scanning is the most accurate?

Which of the following statements regarding the Geek Squad is most accurate?

According to a recent Federal Communications Commission report,AT&T,Verizon,Sprint-Nextel,and T-Mobile control 93 percent of the subscribers in the U.S.wireless mobile phone market.Which form of competition characterizes this market?

All of the following reasons explain the change in adult coffee consumption EXCEPT:

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

Filters