Question 1

During a recessionary period which of the following is expected?

Accepted Answer

A)  The use of credit would decline.
B)  Consumer spending would increase.
C)  Taxes would increase nationally and decrease locally.
D)  Property values would jump dramatically.
E)  Consumers would use the majority of their discretionary income on entertainment.

Question 2

Since __________ is regulated by the state or federal government, marketing plays a relatively small role in this setting.

Accepted Answer

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

Question 3

Generation Y, also known as __________, are determined to make a difference in the world, and by doing so, make the world a better place.

Accepted Answer

A)  political activists
B)  keeners
C)  millenials
D)  aggressors
E)  reformers

Question 4

The form of competition in which many sellers compete with their products on a substitutable basis is called

Accepted Answer

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

Question 5

The purpose of patent law is to

Accepted Answer

A)  provide incentives for increased competition.
B)  give an author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work.
C)  give inventors the right to exclude others from making, using, or selling products that infringe the patented invention.
D)  guarantee the quality and safety of any product produced or distributed in the United States.
E)  level the playing field between inventors who work for large corporations and inventors who work on their own.

Question 6

Which of the following statements regarding social forces is most accurate?

Accepted Answer

A)  Social forces can have a dramatic impact on marketing strategy.
B)  In social forces demographics usually have little impact on marketing strategy compared to psychographics.
C)  Social forces within a corporation can have a serious effect as to who is hired and fired.
D)  Social forces are used to empower workers to improve their performance.
E)  Of all the environmental forces, social forces are the easiest to manipulate.

Question 7

Survivors: The Series is a very popular show.It shows a group of sixteen strangers placed in two competitive teams of eight.Each team must survive in a natural environment that is harsh and demanding.A reviewer described Survivors: The Series as a competition of baby boomers versus Generation X.What can you infer from this statement?

Accepted Answer

A)  The reviewer was surprised that baby boomers and members of Generation X were not cooperating because they usually do.
B)  That people over the age of 50 distrust anyone who is not a member of their own generation.
C)  Baby boomers want the same things as Generation X members; this caused the conflict between them.
D)  This behavior was to be expected because baby boomers and members of Generation X are typically quite different from each other.
E)  People in Generation X resent the fact that baby boomers have monopolized all the higher end jobs.

Question 8

Generation X refers to

Accepted Answer

A)  the generation of children born between 1946 and 1964.
B)  the generation of children born between WWI and WWII.
C)  the 15% of the population born between 1965 and 1976, also called the baby bust.
D)  the 72 million Americans born between 1977 and 1994, also called echo boom or boomlets.
E)  the generation of children born at the millennium, also called the unknown generation.

Question 9

The recent large decline in __________ has had a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Accepted Answer

A)  automobile prices
B)  fuel prices
C)  the number of people competing for jobs
D)  consumer confidence
E)  property values

Question 10

In _________, there are many sellers and they each have a similar product.Companies that deal in commodities common to agribusiness are found in this form of competition.

Accepted Answer

A)  pure competition
B)  limited competition
C)  oligopoly competition
D)  monopoly competition
E)  cross-market competition

Question 11

This generation is known as a savvy and demanding group of consumers who feel personally responsible for making a difference in the world.They also have an extraordinary optimism about their potential for fame and fortune.

Accepted Answer

A)  baby boomers
B)  baby busters
C)  members of Generation X
D)  members of Generation Y
E)  members of Generation Z

Question 12

An FTC action that requires a company to spend money on advertising to correct previous misleading ads is an example of

Accepted Answer

A)  comparative advertisement.
B)  corrective advertising.
C)  competitive advertising.
D)  a truth in advertising order.
E)  promotional monitoring.

Question 13

has been passed.Many laws such as these are the results of

Accepted Answer

A)  consumerism.
B)  marketing ethnicity.
C)  government intervention.
D)  constructive marketing.
E)  Naderism.

Question 14

AT&T, MCI, Verizon, and Sprint control approximately 80 percent of the $16 billion international long-distance telephone service market.These companies operate in a(n)

Accepted Answer

A)  monopoly.
B)  cross-market.
C)  pure competition.
D)  monopolistic competitive position.
E)  oligopoly.

Question 15

One of the primary uses of BBB OnLine is to

Accepted Answer

A)  find the best price for the product or service you seek.
B)  find objective consumer protection for Internet users.
C)  facilitate local businesses with their goal of going "global."
D)  create a working relationship amongst business with similar values.
E)  create a forum whereby firms and their customers can have an open dialogue.

Question 16

Powercast, a manufacturer of holiday lights, are developing a __________ process to transmit power to electrical products without interconnecting wires.

Accepted Answer

A)  fuel cells
B)  nanotechnology
C)  cloud computing
D)  wireless power
E)  sensory

Question 17

Baby boomers are an important target market because they

Accepted Answer

A)  include most of the important business leaders in the United States.
B)  represent a small proportion of the population, but have large disposable incomes.
C)  have the longest life expectancies; therefore, they will remain active in the market place for the longest period of time.
D)  account for the majority of purchases of most consumer products and services.
E)  will be able to pass along significant wealth to their children, the generation that will succeed them.

Question 18

Our society is in a period of dramatic

Accepted Answer

A)  change management.
B)  industrial change.
C)  agricultural change.
D)  technological change.
E)  ethical change.

Question 19

A mother bought what she thought was a large box of un-sweetened cereal; it was the same size as other brands whose boxes clearly marked they were 22 oz.However, when she opened the box it was barely 3/4ths full.The Fair Packaging and Labeling Act would not protect her unless

Accepted Answer

A)  the package printed the disclaimer that the product might settle during shipping.
B)  the package states that the contents should be purchased by weight rather than bulk.
C)  the package clearly states 22 oz.on the front but the actual weight is only 16 oz.
D)  the package lists all the ingredients including the total amount of sugar.
E)  an identical package by the same manufacturer had the exact same amount inside.

Question 20

The primary purpose of a doppelganger is to

Accepted Answer

A)  make people laugh which subconsciously makes them desire the real product.
B)  protect trademarks infringement by competing firms in the same industry.
C)  undermine the integrity of existing brand marketing.
D)  decrease competition by making one brand the "friendly, down to earth" brand.
E)  increase productivity of advertising.

Exam 3: Scanning the Marketing Environment

AT&T, MCI, Verizon, and Sprint control approximately 80 percent of the $16 billion international long-distance telephone service market.These companies operate in a(n)

Correct Answer
verified

During a recessionary period which of the following is expected?

Correct Answer
verified

Generation Y, also known as __________, are determined to make a difference in the world, and by doing so, make the world a better place.

Correct Answer
verified

The form of competition in which many sellers compete with their products on a substitutable basis is called

Correct Answer
verified

The primary purpose of a doppelganger is to

Correct Answer
verified

A mother bought what she thought was a large box of un-sweetened cereal; it was the same size as other brands whose boxes clearly marked they were 22 oz.However, when she opened the box it was barely 3/4ths full.The Fair Packaging and Labeling Act would not protect her unless

Correct Answer
verified

Baby boomers are an important target market because they

Correct Answer
verified

Powercast, a manufacturer of holiday lights, are developing a __________ process to transmit power to electrical products without interconnecting wires.

Correct Answer
verified

The recent large decline in __________ has had a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct Answer
verified

In _________, there are many sellers and they each have a similar product.Companies that deal in commodities common to agribusiness are found in this form of competition.

Correct Answer
verified

An FTC action that requires a company to spend money on advertising to correct previous misleading ads is an example of

Correct Answer
verified

Generation X refers to

Correct Answer
verified

Our society is in a period of dramatic

Correct Answer
verified

Which of the following statements regarding social forces is most accurate?

Correct Answer
verified

The purpose of patent law is to

Correct Answer
verified

Since __________ is regulated by the state or federal government, marketing plays a relatively small role in this setting.

Correct Answer
verified

One of the primary uses of BBB OnLine is to

Correct Answer
verified

This generation is known as a savvy and demanding group of consumers who feel personally responsible for making a difference in the world.They also have an extraordinary optimism about their potential for fame and fortune.

Correct Answer
verified

has been passed.Many laws such as these are the results of

Correct Answer
verified

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

AT&T, MCI, Verizon, and Sprint control approximately 80 percent of the $16 billion international long-distance telephone service market.These companies operate in a(n)

Correct AnswerverifiedShow Answer

During a recessionary period which of the following is expected?

Correct AnswerverifiedShow Answer

Generation Y, also known as __________, are determined to make a difference in the world, and by doing so, make the world a better place.

Correct AnswerverifiedShow Answer

The form of competition in which many sellers compete with their products on a substitutable basis is called

Correct AnswerverifiedShow Answer

The primary purpose of a doppelganger is to

Correct AnswerverifiedShow Answer

A mother bought what she thought was a large box of un-sweetened cereal; it was the same size as other brands whose boxes clearly marked they were 22 oz.However, when she opened the box it was barely 3/4ths full.The Fair Packaging and Labeling Act would not protect her unless

Correct AnswerverifiedShow Answer

Baby boomers are an important target market because they

Correct AnswerverifiedShow Answer

Powercast, a manufacturer of holiday lights, are developing a __________ process to transmit power to electrical products without interconnecting wires.

Correct AnswerverifiedShow Answer

The recent large decline in __________ has had a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct AnswerverifiedShow Answer

In _________, there are many sellers and they each have a similar product.Companies that deal in commodities common to agribusiness are found in this form of competition.

Correct AnswerverifiedShow Answer

An FTC action that requires a company to spend money on advertising to correct previous misleading ads is an example of

Correct AnswerverifiedShow Answer

Generation X refers to

Correct AnswerverifiedShow Answer

Our society is in a period of dramatic

Correct AnswerverifiedShow Answer

Which of the following statements regarding social forces is most accurate?

Correct AnswerverifiedShow Answer

The purpose of patent law is to

Correct AnswerverifiedShow Answer

Since __________ is regulated by the state or federal government, marketing plays a relatively small role in this setting.

Correct AnswerverifiedShow Answer

One of the primary uses of BBB OnLine is to

Correct AnswerverifiedShow Answer

This generation is known as a savvy and demanding group of consumers who feel personally responsible for making a difference in the world.They also have an extraordinary optimism about their potential for fame and fortune.

Correct AnswerverifiedShow Answer

has been passed.Many laws such as these are the results of

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
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