Question 1

While playing soccer,Bryan suddenly fell and broke his arm.Needing to get to the hospital,he was not only interested in the nearest location,but also the shortest emergency room wait time.He remembered seeing a billboard for The Cleveland Clinic promoting their time-text service where he could call the number GET-TXT-TIME and they would text him the approximate waiting time at the closest three hospital locations.The Cleveland Clinic is providing enhanced service to its patients by capitalizing on which environmental force?

Accepted Answer

A) Economic 
B) Competitive 
C) Political 
D) Legal and regulatory 
E) Technological

Question 2

A group of protesters carries signs encouraging people to boycott The Farmer's Market,a small grocery store in an urban area.The protesters claim that Farmer's takes unfair advantage of elderly and minority consumers by charging them as much as 20% higher prices than other locations in the suburbs.This protest is part of what we see today as the

Accepted Answer

A) cultural diversity movement. 
B) civil rights movement. 
C) urban unrest cycle. 
D) procompetitive movement. 
E) consumerism movement.

Question 3

Explain the difference between procompetitive legislation and consumer protection laws.

Accepted Answer

The answer of Explain the difference between procompetitive legislation and...

Question 4

A monopoly exists when a firm with many potential competitors attempts to develop a marketing strategy to differentiate its products.

Accepted Answer

A) True 
 B)False

Question 5

Toyota has developed aluminum car bodies that are 100 percent recyclable and light enough to help conserve fuel.What kind of response is this to environmental forces?

Accepted Answer

A) Proactive 
B) Competitive 
C) Reactive 
D) Inactive 
E) Controllable

Question 6

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) American Airlines 
D) Rogers Plumbing 
E) Chemlawn Lawn Care

Question 7

Textile companies historically face issues concerning the use of child labor in foreign countries and the various regulations created concerning this labor.The type of marketing environment forces executives for these companies are most likely to try to influence are ____ forces.

Accepted Answer

A) economic 
B) competitive 
C) political 
D) environmental 
E) sociocultural

Question 8

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.

Question 9

In its advertisements for Bud Light beer,Anheuser-Busch has decided to include a statement saying "Know when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts?

Accepted Answer

A) Federal regulation 
B) State regulation 
C) City regulation 
D) Self-regulation 
E) Social regulation

Question 10

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

Question 11

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.

Question 12

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.

Question 13

Marketers who view political forces as being beyond their control are taking a(n)____ response toward these forces.

Accepted Answer

A) reactive 
B) aggressive 
C) proactive 
D) competitive 
E) liberal

Question 14

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.

Question 15

Firms always adopt and use new technology.

Accepted Answer

A) True 
 B)False

Question 16

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.

Question 17

If Julio Ruiz 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.

Question 18

By offering both credit and financing through its GMAC division,General Motors is trying to help consumers

Accepted Answer

A) expand future buying power at the expense of current buying power. 
B) expand disposable income at the expense of discretionary income. 
C) expand current buying power at the expense of future buying power. 
D) expand both disposable income and wealth. 
E) decrease both disposable and discretionary income.

Question 19

Changes in values have little effect on people's needs for products.

Accepted Answer

A) True 
 B)False

Question 20

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

Exam 3: The Marketing Environment

Explain the difference between procompetitive legislation and consumer protection laws.

A monopoly exists when a firm with many potential competitors attempts to develop a marketing strategy to differentiate its products.

Toyota has developed aluminum car bodies that are 100 percent recyclable and light enough to help conserve fuel.What kind of response is this to environmental forces?

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

Textile companies historically face issues concerning the use of child labor in foreign countries and the various regulations created concerning this labor.The type of marketing environment forces executives for these companies are most likely to try to influence are ____ forces.

The Better Business Bureau is probably the best-known

In its advertisements for Bud Light beer,Anheuser-Busch has decided to include a statement saying "Know when to say when." This is an example of which one of the following types of regulatory forces affecting marketing efforts?

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

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

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

Marketers who view political forces as being beyond their control are taking a(n) ____ response toward these forces.

Which of the following actions is illegal?

Firms always adopt and use new technology.

The two least common competitive structures are

If Julio Ruiz 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

By offering both credit and financing through its GMAC division,General Motors is trying to help consumers

Changes in values have little effect on people's needs for products.

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