Question 1

In general,which of the following competitive structures is an organization least likely to operate?

Accepted Answer

A) Monopoly 
B) Monopolistic competition 
C) Oligopoly 
D) Elastic competition 
E) Pure competition

Question 2

Which of the following companies would probably be most interested in tracking discretionary income levels?

Accepted Answer

A) Safeway food stores 
B) BMW automobiles 
C) Gulf States Utilities 
D) General Mills 
E) Florida Orange Growers

Question 3

A recent U.S.Supreme Court decision has nullified federal laws that restrict political campaign fund contributions for corporate labor unions.

Accepted Answer

A) True 
 B)False

Question 4

Wealth is an accumulation of past income and natural and financial resources.

Accepted Answer

A) True 
 B)False

Question 5

Scenario 3.2
Use the following to answer the questions.
Clayton Homes,a mobile home manufacturer since 1934,introduced its new iHome in 2009.The iHome is one of the first of its kind,designed as an updated,modern version of the modular home,offered as a base home plus add-ons known as "pods." The base home is a one-bedroom,one-bath 734-square foot version at a price of around $80,000.There is also a 1,000 square-foot version for around $100,000.All versions may add on the additional one-room pods as desired which are shipped to your location and constructed on-site.The homes offer galvanized metal roofing,corrugated steel siding,VOC-free paints,and a "butterfly" roof that collects rainwater.The iHome uses 30% less energy than a similar square-foot home and offers "green" characteristics of solar panels,tankless water heaters,and low-flow faucets.In addition,it comes with bamboo flooring,a renewable resource.The modular,pre-fabricated design offers endless options for creating the customer's home and its engineered building system cuts down on construction waste.Due to the "green effects" of the iHome,the state governments have given it a tax abatement for any sales taxes.
-Refer to Scenario 3.2.In what type of competitive structure is Clayton Homes most likely operating?

Accepted Answer

A) Monopoly 
B) Oligopoly 
C) Monopolistic competition 
D) Perfect competition 
E) Monopsony

Question 6

Marketers primarily focus their environmental analysis on ____ competitors.

Accepted Answer

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

Question 7

Which of the following would represent a brand competitor for Volkswagen's Touareg Hybrid sport utility vehicle?

Accepted Answer

A) Honda Pilot 
B) Toyota's Highlander Hybrid 
C) Honda Civic Hybrid 
D) Taxi ride 
E) Chevrolet Tahoe rented from Avis

Question 8

The amount of future income already committed to past credit agreements influences one's ability to use more credit.

Accepted Answer

A) True 
 B)False

Question 9

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

Question 10

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.

Question 11

Personal computers and cellular phones are technology.

Accepted Answer

A) True 
 B)False

Question 12

Of all the federal regulatory units,the ____ most heavily influences marketing activities.

Accepted Answer

A) Food and Drug Administration (FD
A)  
B) Federal Communications Commission (FC
C)  
C) Environmental Protection Agency (EP
A)  
D) Federal Trade Commission (FT
C)  
E) Federal Power Commission (FP
C)

Question 13

The Lazy-Boy Furniture Company collects information about a wide variety of competitive,economic,political,legal and regulatory,technological,and sociocultural forces that affect its marketing activities.This process is called

Accepted Answer

A) environmental scanning. 
B) survey of environment. 
C) marketing. 
D) environmental analysis. 
E) marketing information processing.

Question 14

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 15

A factor that affects willingness to spend is general economic conditions.

Accepted Answer

A) True 
 B)False

Question 16

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

Question 17

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

Question 18

The major forces that make up the consumerism movement are consumer organizations and business organizations.

Accepted Answer

A) True 
 B)False

Question 19

All members of an industry are bound to follow trade association guidelines.

Accepted Answer

A) True 
 B)False

Question 20

When marketers define their target market,they simultaneously establish a set of

Accepted Answer

A) technologies. 
B) monopolies. 
C) competitors. 
D) government regulations. 
E) sociocultural forces.

Exam 3: The Marketing Environment

In general,which of the following competitive structures is an organization least likely to operate?

Which of the following companies would probably be most interested in tracking discretionary income levels?

A recent U.S.Supreme Court decision has nullified federal laws that restrict political campaign fund contributions for corporate labor unions.

Wealth is an accumulation of past income and natural and financial resources.

Marketers primarily focus their environmental analysis on ____ competitors.

Which of the following would represent a brand competitor for Volkswagen's Touareg Hybrid sport utility vehicle?

The amount of future income already committed to past credit agreements influences one's ability to use more credit.

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

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?

Personal computers and cellular phones are technology.

Of all the federal regulatory units,the ____ most heavily influences marketing activities.

The Lazy-Boy Furniture Company collects information about a wide variety of competitive,economic,political,legal and regulatory,technological,and sociocultural forces that affect its marketing activities.This process is called

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

A factor that affects willingness to spend is general economic conditions.

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.

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

The major forces that make up the consumerism movement are consumer organizations and business organizations.

All members of an industry are bound to follow trade association guidelines.

When marketers define their target market,they simultaneously establish a set of