Question 1

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Accepted Answer

A)  substitute firms.
B)  target markets.
C)  complementary firms.
D)  cross product marketers.
E)  competition.F) B) and E)
G) D) and E)

Question 2

Of the following,which racial or ethnic group has the greatest economic impact in the United States in terms of their buying power?

Accepted Answer

A)  Asian Americans
B)  Hispanics
C)  African Americans
D)  Native American and other native populations
E)  Indian immigrants (from India) F) A) and D)
G) A) and C)

Question 3

________ expect brands and companies to embrace social change,corporate social responsibility,and environmental stewardship,as well as profits.

Accepted Answer

A)  Members of Generation X
B)  Baby boomers
C)  Members of Generation Z
D)  Baby busters
E)  MillennialsF) A) and B)
G) B) and C)

Question 4

The Lemon Tree is a high-fashion boutique selling top-of-the-line women's clothing and accessories.The keys to its success include knowing customers' changing tastes and providing something different than other retailers.In addition,because of the high value of the merchandise,The Lemon Tree's management is investing in the use of computerized inventory controls and sales order processing.The least important environmental force to The Lemon Tree at this time is likely to be

Accepted Answer

A)  economic.
B)  competitive.
C)  technological.
D)  social.
E)  regulatory.F) A) and D)
G) D) and E)

Question 5

Prudential,a financial planning firm,offers retirement plans and wealth management advice.These products are most likely targeted toward which generational cohort?

Accepted Answer

A)  Generation X
B)  baby busters
C)  Generation Y
D)  the greatest generation
E)  baby boomersF) B) and D)
G) B) and E)

Question 6

The Department of Labor monitors consumer expenditures through its annual Consumer Expenditure Survey.In the most recent report,consumers spent the largest proportion of their income on which of these?

Accepted Answer

A)  education
B)  housing
C)  vacations
D)  entertainment
E)  investmentsF) A) and C)
G) A) and B)

Question 7

If a manufacturer grants a distributor the sole rights to sell a product in a specific geographic area it is called

Accepted Answer

A)  exclusive dealing.
B)  a tying arrangement.
C)  a selective promotion contract.
D)  an exclusive territorial distributorship.
E)  a requirement contractF) A) and C)
G) A) and B)

Question 8

In business,the four basic forms of competition are

Accepted Answer

A)  pure competition,limited competition,oligopoly,and monopoly.
B)  dictatorship,monarchy,oligarchy,and democracy.
C)  pure competition,cross-market competition,oligopoly,and pure monopoly.
D)  technological competition,market competition,governmental competition,and environmental competition.
E)  pure competition,monopolistic competition,oligopoly,and pure monopoly.F) None of the above
G) C) and D)

Question 9

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)  echo-boomers
B)  Generation Xers
C)  Generation Yers
D)  baby boomers
E)  baby bustersF) B) and C)
G) A) and D)

Question 10

The post-millennial generation that includes consumers born between 1995 and 2010 is known as

Accepted Answer

A)  echo busters.
B)  baby busters.
C)  the lost generation.
D)  the greatest generation.
E)  Generation Z.F) B) and C)
G) A) and D)

Question 11

Protecting competition is the primary aim of which of these?

Accepted Answer

A)  Prevention and Enforcement Act
B)  Clayton Act
C)  Federal Trade Commission Act
D)  Fair Trade Act
E)  Unfair Practices ActF) A) and E)
G) B) and D)

Question 12

The Federal Trademark Dilution Act

Accepted Answer

A)  prevents someone from using a trademark on a noncompeting product.
B)  provides for registration of a company's trademarks.
C)  allows a company to secure rights to a name before its actual use.
D)  facilitates the protection of U.S.trademark rights throughout the world.
E)  allows language adaptations for trademarks in different parts of the world.F) A) and B)
G) A) and E)

Question 13

Generation X consumers indicate they want online customer support;websites that are comprehensive,professional,and interactive;and advertising that is authentic,family-oriented,and unique.Generation X is also replacing baby boomers as the largest segment of business travelers.In response,American Airlines is offering travelers in-flight Wi-Fi,entertainment on demand,and personal powerports.This is an example of how ________ forces impact the marketing environment.

Accepted Answer

A)  economic
B)  competitive
C)  social
D)  technological
E)  regulatoryF) A) and E)
G) None of the above

Question 14

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs.Because Starbucks ________,it was prepared for this shift in its marketing environment.

Accepted Answer

A)  optimized its distribution by adding local outlets in grocery stores
B)  noticed the change in the demographics of coffee and tea drinkers in general
C)  added more in-store displays
D)  shifted funds from product development to advertising
E)  tracked,as part of its ongoing environmental scanning activities,the percentage of households with single cup brewersF) A) and E)
G) B) and E)

Question 15

In terms of competitive forces,powerful buyers exist when

Accepted Answer

A)  there are many buyers.
B)  the product represents a small share of the buyer's total costs.
C)  switching costs are low.
D)  the product is critical to the buyer.
E)  preemptive practices exist.F) B) and D)
G) A) and D)

Question 16

Visa and MasterCard have recently been accused of violating antitrust laws by improperly fixing credit and debit card fees (known as swipe fees) paid by retailers to use their services,creating an anti-competitive environment.Legislation that prohibits price-fixing is an example of ________ forces that affect the marketing environment.

Accepted Answer

A)  economic
B)  ecological
C)  technological
D)  regulatory
E)  socialF) A) and D)
G) A) and E)

Question 17

The ________ can require a company to spend money on corrective advertising to rectify previous misleading ads.

Accepted Answer

A)  Food and Drug Administration
B)  U) S.Department of Justice
C)  Federal Trade Commission
D)  Better Business Bureau
E)  American Marketing AssociationF) C) and E)
G) A) and B)

Question 18

The purpose of environmental scanning is to

Accepted Answer

A)  uncover causes of trends in the marketplace.
B)  uncover opportunities in the marketplace.
C)  stop unhelpful trends in the marketplace,and speed helpful ones.
D)  stop unhelpful trends in the workplace,and speed helpful ones.
E)  identify and interpret trends in the marketplace.F) B) and D)
G) C) and D)

Question 19

A paint manufacturer will sell a retail paint outlet its paint only if the retailer also buys the manufacturer's line of brushes and accessories.This is an example of

Accepted Answer

A)  exclusive dealing.
B)  a tying arrangement.
C)  a selective promotion contract.
D)  an exclusive territorial distributorship.
E)  a requirement contractF) A) and E)
G) None of the above

Question 20

The courts see price fixing as per se illegal,which means the courts

Accepted Answer

A)  see price fixing itself as illegal.
B)  do not view price fixing as illegal unless the intention was to harm the consumer.
C)  only consider price fixing to be illegal if a company is sued.
D)  compare the company behavior to behavior typical in its industry in determining legality.
E)  view price fixing as illegal only if it causes destructive competition.F) A) and C)
G) B) and D)

Exam 3: Scanning the Marketing Environment

Correct Answer
verified

A paint manufacturer will sell a retail paint outlet its paint only if the retailer also buys the manufacturer's line of brushes and accessories.This is an example of

Correct Answer
verified

Correct Answer
verified

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Correct Answer
verified

Protecting competition is the primary aim of which of these?

Correct Answer
verified

The Department of Labor monitors consumer expenditures through its annual Consumer Expenditure Survey.In the most recent report,consumers spent the largest proportion of their income on which of these?

Correct Answer
verified

The post-millennial generation that includes consumers born between 1995 and 2010 is known as

Correct Answer
verified

If a manufacturer grants a distributor the sole rights to sell a product in a specific geographic area it is called

Correct Answer
verified

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs.Because Starbucks ________,it was prepared for this shift in its marketing environment.

Correct Answer
verified

Prudential,a financial planning firm,offers retirement plans and wealth management advice.These products are most likely targeted toward which generational cohort?

Correct Answer
verified

In terms of competitive forces,powerful buyers exist when

Correct Answer
verified

________ expect brands and companies to embrace social change,corporate social responsibility,and environmental stewardship,as well as profits.

Correct Answer
verified

The Federal Trademark Dilution Act

Correct Answer
verified

The courts see price fixing as per se illegal,which means the courts

Correct Answer
verified

Correct Answer
verified

Of the following,which racial or ethnic group has the greatest economic impact in the United States in terms of their buying power?

Correct Answer
verified

The ________ can require a company to spend money on corrective advertising to rectify previous misleading ads.

Correct Answer
verified

In business,the four basic forms of competition are

Correct Answer
verified

The purpose of environmental scanning is to

Correct Answer
verified

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?

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Correct AnswerverifiedShow Answer

A paint manufacturer will sell a retail paint outlet its paint only if the retailer also buys the manufacturer's line of brushes and accessories.This is an example of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Correct AnswerverifiedShow Answer

Protecting competition is the primary aim of which of these?

Correct AnswerverifiedShow Answer

The Department of Labor monitors consumer expenditures through its annual Consumer Expenditure Survey.In the most recent report,consumers spent the largest proportion of their income on which of these?

Correct AnswerverifiedShow Answer

The post-millennial generation that includes consumers born between 1995 and 2010 is known as

Correct AnswerverifiedShow Answer

If a manufacturer grants a distributor the sole rights to sell a product in a specific geographic area it is called

Correct AnswerverifiedShow Answer

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs.Because Starbucks ________,it was prepared for this shift in its marketing environment.

Correct AnswerverifiedShow Answer

Prudential,a financial planning firm,offers retirement plans and wealth management advice.These products are most likely targeted toward which generational cohort?

Correct AnswerverifiedShow Answer

In terms of competitive forces,powerful buyers exist when

Correct AnswerverifiedShow Answer

________ expect brands and companies to embrace social change,corporate social responsibility,and environmental stewardship,as well as profits.

Correct AnswerverifiedShow Answer

The Federal Trademark Dilution Act

Correct AnswerverifiedShow Answer

The courts see price fixing as per se illegal,which means the courts

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Of the following,which racial or ethnic group has the greatest economic impact in the United States in terms of their buying power?

Correct AnswerverifiedShow Answer

The ________ can require a company to spend money on corrective advertising to rectify previous misleading ads.

Correct AnswerverifiedShow Answer

In business,the four basic forms of competition are

Correct AnswerverifiedShow Answer

The purpose of environmental scanning is to

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedShow Answer

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