Question 1

Generation Y is sometimes referred to as

Accepted Answer

A)  echo-boomers.
B)  baby boomers.
C)  baby busters.
D)  the downtrodden generation.
E)  Generation 25.

Question 2

Recent data on consumer expenditures indicate that the savings rate of U.S. consumers has

Accepted Answer

A)  declined by 6 percent.
B)  remained flat at 0 percent.
C)  fluctuated minimally around 2 percent.
D)  risen to 5.8 percent.
E)  exploded to nearly 10 percent.

Question 3

In many geographic areas, there is only a single provider for gas and electric service for businesses and consumers. However, the government regulates that firm to ensure price protection for the buyer. This is an example of

Accepted Answer

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

Question 4

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

Accepted Answer

A)  21 percent
B)  32 percent
C)  46 percent
D)  68 percent
E)  82 percent

Question 5

All of the following statements are true except

Accepted Answer

A)  LEED stands for Leadership in Energy and Environmental Design.
B)  today's college graduates now seek green jobs that involve some aspect of social responsibility.
C)  colleges of business have yet to establish sustainability course electives and case studies.
D)  many students want to be involved with organizations such as Net Impact to use business to improve the world.
E)  millennials want to make a difference by making the world a better place.

Question 6

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of

Accepted Answer

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

Question 7

Members of Generation Y are most likely to influence

Accepted Answer

A)  children's designer clothing lines.
B)  health care and insurance.
C)  retirement plans.
D)  video games.
E)  automobile design.

Question 8

For millennials, "positive business" involvement means

Accepted Answer

A)  engaging in free market economics with fair but limited regulations to manage exchange relationships.
B)  being part of a movement that balances the interests of shareholders, employees, and society.
C)  exploiting a nation's natural resources for the betterment of its society.
D)  seeking advanced jobs in agriculture that emphasize economies of scale in farming and ranching.
E)  executing an aggressive strategy regarding oil and natural gas exploration to make the United States energy independent.

Question 9

Most specifically, if a consumer's __________ increases, he or she is able to take advantage of the luxurious vacation travel opportunities offered on the Queen Mary 2, a cruise liner operated by Cunard.

Accepted Answer

A)  savings rate
B)  gross income
C)  taxes
D)  discretionary income
E)  disposable income

Question 10

Environmental trends arise from all of the following forces except

Accepted Answer

A)  competitive.
B)  economic.
C)  regulatory.
D)  geographical.
E)  social.

Question 11

It had been the Campbell Soup Co.'s practice to insert clear glass marbles into the bottom of soup containers used in print advertisements to bring some of the soup's ingredients (e.g., noodles or chicken)  to the surface, thus misrepresenting the amount of solid ingredients in the soup. Which agency would monitor such a practice?

Accepted Answer

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

Question 12

Cloud computing, such as Apple's iCloud, enables businesses and consumers to share data or use software applications directly from a remote server over the Internet or wirelessly rather than having that data file or program reside on a personal computer. This is an example of a __________ change in the marketing environment.

Accepted Answer

A)  regulatory
B)  sociocultural
C)  competitive
D)  technological
E)  marketing mix

Question 13

Income used to buy luxury items such as a Cunard cruise is referred to as

Accepted Answer

A)  gross income.
B)  disposable income.
C)  surplus income.
D)  wealth income.
E)  discretionary income.

Question 14

Oral-B toothbrushes now connect to your smartphone to provide real-time feedback on your brushing. This is an example of how __________ forces help improve or replace existing products and companies.

Accepted Answer

A)  ecological
B)  regulatory
C)  legal
D)  competitive
E)  technological

Question 15

__________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Accepted Answer

A)  Cross-market competition
B)  Limited competition
C)  Pure competition
D)  Monopolistic competition
E)  A monopoly

Question 16

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)  Sherman Antitrust Act

Question 17

Describe the three generational cohorts that are of interest to marketers today.

Accepted Answer

Today's marketers are interested in the ...

Question 18

Generation X is defined as the generation of children born

Accepted Answer

A)  between 1946 and 1964.
B)  between WWI and WWII.
C)  between 1965 and 1976.
D)  between 1977 and 1994.
E)  since the millennium.

Question 19

Technological advances are difficult to predict. One great advance can replace or substitute for existing products in a relatively short period. Tablets and smartphones with wireless connectivity are most likely to replace or substitute for

Accepted Answer

A)  TV broadcasts.
B)  digital video recorders.
C)  printed media.
D)  printed images.
E)  online video games.

Question 20

The U.S. Securities and Exchange Commission has designated just nine credit-rating agencies as nationally recognized statistical rating organizations, which include Moody's, Standard & Poor's, and Fitch Ratings. These agencies provide opinions on the creditworthiness of other entities and the financial obligations issued by them. Because so few companies can compete in it, the credit-rating industry would be considered

Accepted Answer

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

Exam 3: Scanning the Marketing Environment

In many geographic areas, there is only a single provider for gas and electric service for businesses and consumers. However, the government regulates that firm to ensure price protection for the buyer. This is an example of

Correct Answer
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Generation X is defined as the generation of children born

Correct Answer
verified

Environmental trends arise from all of the following forces except

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Income used to buy luxury items such as a Cunard cruise is referred to as

Correct Answer
verified

__________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Correct Answer
verified

Generation Y is sometimes referred to as

Correct Answer
verified

For millennials, "positive business" involvement means

Correct Answer
verified

Describe the three generational cohorts that are of interest to marketers today.

Correct Answer
verified
Today's marketers are interested in the ...
View Answer

Recent data on consumer expenditures indicate that the savings rate of U.S. consumers has

Correct Answer
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Correct Answer
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Correct Answer
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Members of Generation Y are most likely to influence

Correct Answer
verified

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

Correct Answer
verified

Technological advances are difficult to predict. One great advance can replace or substitute for existing products in a relatively short period. Tablets and smartphones with wireless connectivity are most likely to replace or substitute for

Correct Answer
verified

All of the following statements are true except

Correct Answer
verified

Most specifically, if a consumer's __________ increases, he or she is able to take advantage of the luxurious vacation travel opportunities offered on the Queen Mary 2, a cruise liner operated by Cunard.

Correct Answer
verified

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of

Correct Answer
verified

Oral-B toothbrushes now connect to your smartphone to provide real-time feedback on your brushing. This is an example of how __________ forces help improve or replace existing products and companies.

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

In many geographic areas, there is only a single provider for gas and electric service for businesses and consumers. However, the government regulates that firm to ensure price protection for the buyer. This is an example of

Correct AnswerverifiedShow Answer

Generation X is defined as the generation of children born

Correct AnswerverifiedShow Answer

Environmental trends arise from all of the following forces except

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Income used to buy luxury items such as a Cunard cruise is referred to as

Correct AnswerverifiedShow Answer

__________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Correct AnswerverifiedShow Answer

Generation Y is sometimes referred to as

Correct AnswerverifiedShow Answer

For millennials, "positive business" involvement means

Correct AnswerverifiedShow Answer

Describe the three generational cohorts that are of interest to marketers today.

Correct AnswerverifiedToday's marketers are interested in the ...View AnswerShow Answer

Recent data on consumer expenditures indicate that the savings rate of U.S. consumers has

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Members of Generation Y are most likely to influence

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Technological advances are difficult to predict. One great advance can replace or substitute for existing products in a relatively short period. Tablets and smartphones with wireless connectivity are most likely to replace or substitute for

Correct AnswerverifiedShow Answer

All of the following statements are true except

Correct AnswerverifiedShow Answer

Most specifically, if a consumer's __________ increases, he or she is able to take advantage of the luxurious vacation travel opportunities offered on the Queen Mary 2, a cruise liner operated by Cunard.

Correct AnswerverifiedShow Answer

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of

Correct AnswerverifiedShow Answer

Oral-B toothbrushes now connect to your smartphone to provide real-time feedback on your brushing. This is an example of how __________ forces help improve or replace existing products and companies.

Correct AnswerverifiedShow Answer

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Today's marketers are interested in the ...
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