Question 1

Marketers primarily focus their environmental analysis on ____ competitors.

Accepted Answer

A)   brand
B)   product
C)   total budget
D)   generic
E)   monopolisticF) B) and C)
G) D) and E)

Question 2

The proportion of the U.S.population that will be over 65 years of age is expected to decline by the year 2050.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following agencies regulates marketing activities the most?

Accepted Answer

A)   Environmental Protection Agency
B)   Food and Drug Administration
C)   Federal Trade Commission
D)   Better Business Bureau
E)   National Advertising Review BoardF) All of the above
G) B) and C)

Question 4

A person's buying power is a function of

Accepted Answer

A)   disposable income.
B)   past income,natural resources,and financial resources.
C)   wages,rents,and investments.
D)   income,wealth,and credit.
E)   discretionary income.F) None of the above
G) A) and B)

Question 5

Consumerism is a

Accepted Answer

A)   diverse group of individuals and organizations opposed to foreign producers that sell products in the United States that are much cheaper than those produced by U.S.manufacturers.
B)   social movement that is trying to encourage consumer satisfaction.
C)   social movement that is reorganizing the Council of Better Business Bureaus.
D)   diverse group of individuals and organizations attempting to protect the rights of consumers.
E)   social movement that provides consumers with means for expressing satisfaction and expressing their gratitude to producers.F) A) and D)
G) C) and D)

Question 6

Consumer confidence is at a low during periods of

Accepted Answer

A)   recession.
B)   prosperity.
C)   recovery.
D)   slowdown.
E)   depression.F) B) and D)
G) A) and B)

Question 7

Pure competition is a common competitive environment.

Accepted Answer

A) True 
 B)False

Question 8

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)   ControllableF) A) and C)
G) None of the above A

Question 9

Wealth enables consumers to gain buying power.

Accepted Answer

A) True 
 B)False

Question 10

What is the most important factor in distinguishing disposable income from income?

Accepted Answer

A)   Taxes
B)   Housing
C)   Employment levels
D)   Consumer spending
E)   SavingF) B) and C)
G) C) and D)

Question 11

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)   Enviornmental Protection Agency (EP
A)  
D)   Federal Trade Commission (FT
C)  
E)   Federal Power Commission (FP
C)  F) B) and E)
G) A) and E)

Question 12

The Council of Better Business Bureaus and the FTC make up the National Advertising Review Board (NARB).

Accepted Answer

A) True 
 B)False

Question 13

Governments are big buyers,and the people who hold political offices often determine how much is purchased.

Accepted Answer

A) True 
 B)False  True

Question 14

After Home Depot gathers information related to its marketing environment,it attempts to define current environmental changes and predict future changes.This determines possible opportunities and threats facing the company.It illustrates the process that is called

Accepted Answer

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

Question 15

The accumulation of past income,natural resources,and financial resources is known as

Accepted Answer

A)   income.
B)   collected income.
C)   credit.
D)   wealth.
E)   savings.F) None of the above
G) B) and D)

Question 16

The FTC can issue a cease-and-desist order,which is an injunction to

Accepted Answer

A)   report to the FTC immediately.
B)   stop doing whatever caused the complaint.
C)   appear before the courts.
D)   pay for damages caused by negligence of the firm.
E)   close down the firm until further notice.F) B) and E)
G) B) and C)

Question 17

Use the following to answer the questions.
A new U.S.automobile company,Specialty Motors,was established in 2004.In 2008,a recession caused disposable income to decline,and the annual amount of dollars spent by consumers for automobiles dropped drastically.Specialty Motors faced the problem of trying to determine whether the economy would turn toward prosperity or toward depression.No matter what happened,Specialty Motors was also worried about an impending global steel shortage,which would make a big difference in its future marketing plans.The economy might recover from the recession,but the automobile makers might be forced to ask consumers to curtail consumption just when the hope of a better year was finally in sight.All in all,the future looked dismal for Specialty Motors.
-Refer to Scenario 3.2.In what type of competitive structure is Specialty Motors operating?

Accepted Answer

A)   Monopoly
B)   Oligopoly
C)   Monopolistic competition
D)   Perfect competition
E)   MonopsonyF) A) and B)
G) A) and C)

Question 18

Which category of income are marketers most interested in?

Accepted Answer

A)   Wealth
B)   Disposable income
C)   Discretionary income
D)   Total income
E)   Extra incomeF) C) and D)
G) B) and D)

Question 19

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 20

Disposable income is used to pay taxes,spend,and save.

Accepted Answer

A) True 
 B)False  False

Exam 3: The Global Marketing Environment

Marketers primarily focus their environmental analysis on ____ competitors.

Correct Answer
verified

The proportion of the U.S.population that will be over 65 years of age is expected to decline by the year 2050.

Correct Answer
verified

Which of the following agencies regulates marketing activities the most?

Correct Answer
verified

A person's buying power is a function of

Correct Answer
verified

Consumerism is a

Correct Answer
verified

Consumer confidence is at a low during periods of

Correct Answer
verified

Pure competition is a common competitive environment.

Correct Answer
verified

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?

Correct Answer
verified
A

Wealth enables consumers to gain buying power.

Correct Answer
verified

What is the most important factor in distinguishing disposable income from income?

Correct Answer
verified

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

Correct Answer
verified

The Council of Better Business Bureaus and the FTC make up the National Advertising Review Board (NARB).

Correct Answer
verified

Governments are big buyers,and the people who hold political offices often determine how much is purchased.

Correct Answer
verified
True

After Home Depot gathers information related to its marketing environment,it attempts to define current environmental changes and predict future changes.This determines possible opportunities and threats facing the company.It illustrates the process that is called

Correct Answer
verified

The accumulation of past income,natural resources,and financial resources is known as

Correct Answer
verified

The FTC can issue a cease-and-desist order,which is an injunction to

Correct Answer
verified

Correct Answer
verified

Which category of income are marketers most interested in?

Correct Answer
verified

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

Correct Answer
verified

Disposable income is used to pay taxes,spend,and save.

Correct Answer
verified
False

Exam 3: The Global Marketing Environment

Marketers primarily focus their environmental analysis on ____ competitors.

Correct AnswerverifiedShow Answer

The proportion of the U.S.population that will be over 65 years of age is expected to decline by the year 2050.

Correct AnswerverifiedShow Answer

Which of the following agencies regulates marketing activities the most?

Correct AnswerverifiedShow Answer

A person's buying power is a function of

Correct AnswerverifiedShow Answer

Consumerism is a

Correct AnswerverifiedShow Answer

Consumer confidence is at a low during periods of

Correct AnswerverifiedShow Answer

Pure competition is a common competitive environment.

Correct AnswerverifiedShow Answer

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?

Correct AnswerverifiedA

Wealth enables consumers to gain buying power.

Correct AnswerverifiedShow Answer

What is the most important factor in distinguishing disposable income from income?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Council of Better Business Bureaus and the FTC make up the National Advertising Review Board (NARB).

Correct AnswerverifiedShow Answer

Governments are big buyers,and the people who hold political offices often determine how much is purchased.

Correct AnswerverifiedTrue

After Home Depot gathers information related to its marketing environment,it attempts to define current environmental changes and predict future changes.This determines possible opportunities and threats facing the company.It illustrates the process that is called

Correct AnswerverifiedShow Answer

The accumulation of past income,natural resources,and financial resources is known as

Correct AnswerverifiedShow Answer

The FTC can issue a cease-and-desist order,which is an injunction to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which category of income are marketers most interested in?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Disposable income is used to pay taxes,spend,and save.

Correct AnswerverifiedFalse

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A

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True

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False