Question 1

In a(n) ________ economy,the cost to produce and buy products and services escalates as prices increase.

Accepted Answer

A)  inflationary
B)  expansionary
C)  deflationary
D)  recessionary
E)  depressiveF) C) and D)
G) D) and E)

Question 2

Regulation refers to

Accepted Answer

A)  the restrictions that state and federal laws place on business with regard to the conduct of its activities.
B)  constraints placed on businesses for activities that are legal but unethical.
C)  society's values and standards that are enforceable in the courts.
D)  requirements concerning which customers a firm may serve or not serve.
E)  the moral principles and values that govern the actions and decisions of an individual or group.F) B) and C)
G) B) and E)

Question 3

All of the following statements about the environmental forces that have influenced Facebook are true except which?

Accepted Answer

A)  The Federal Trade Commission (FT
C)  has a laissez-faire policy of not interfering with the development and marketing of Facebook and other social media websites.
B)  Technological advances in data storage,server speed,and software integration have made Facebook increasingly fast and convenient.
C)  Its rivalry with Google,Twitter,Snapchat,and new social networks encourages rapid expansion.
D)  The cost of wireless connectivity and smartphones rapidly declined,and Internet access expanded,which increasingly made social networking affordable for more people.
E)  People increasingly look for new ways to communicate,obtain information,and offer opinions.F) A) and E)
G) A) and D)

Question 4

Using smartphones,one can watch the news,shoot videos,browse the Internet,take pictures,and listen to music.Improved features are added with each smartphone introduced by Apple,Samsung,LG,and others.As a result,customers often want to replace their existing smartphones with new models or brands every two years when their contracts expire.This increase in demand is due mostly to changes in ________,an environmental force.

Accepted Answer

A)  competition
B)  social culture
C)  technology
D)  regulations
E)  the economyF) C) and D)
G) D) and E)

Question 5

The generational cohort described as self-reliant,supportive of racial and ethnic diversity,better educated than previous generations,but having less net worth is

Accepted Answer

A)  Generation Z.
B)  Generation Y.
C)  millennials.
D)  Generation X.
E)  baby boomers.F) None of the above
G) A) and B)

Question 6

AT&T,Verizon,Sprint,and T-Mobile serve more than 95 percent of the subscribers in the U.S.wireless mobile phone market.Which form of competition characterizes this market?

Accepted Answer

A)  pure competition
B)  limited competition
C)  a monopoly
D)  an oligopoly
E)  monopolistic competitionF) A) and B)
G) B) and E)

Question 7

Culture refers to the

Accepted Answer

A)  moral and ethical beliefs of a family passed down from generation to generation.
B)  set of values,ideas,and attitudes that are learned and shared among the members of a group.
C)  pastimes associated with the fine arts,such as ballet,music,and theater.
D)  standard or pattern of behaviors that is typical or expected of a group.
E)  description of a population according to selected characteristics such as age,gender,ethnicity,income,and occupation.F) A) and D)
G) A) and E)

Question 8

The Department of Labor monitors consumer expenditures through its annual

Accepted Answer

A)  Consumer Price Index.
B)  Consumer Confidence Index.
C)  Consumer Expenditure Survey.
D)  Index of Consumer Sentiment.
E)  National Consumer Spending Assessment.F) B) and E)
G) A) and D)

Question 9

Generation Y is defined as the generation of children born

Accepted Answer

A)  between World War I and World War II.
B)  between 1946 and 1964.
C)  between 1965 and 1976.
D)  between 1977 and 1994.
E)  since the millennium.F) C) and D)
G) B) and D)

Question 10

Combinations of the marketing mix that reflect the unique attitudes,ancestry,communication preferences,and lifestyles of different races are referred to as ________ marketing programs.

Accepted Answer

A)  panethnic
B)  generational
C)  cross-cultural
D)  multicultural
E)  regionalF) A) and C)
G) A) and B)

Question 11

The Digital Millennium Copyright Act,signed in 1998,

Accepted Answer

A)  limits access of children to online material considered to be inappropriate or harmful.
B)  improves protection of copyrighted digital products.
C)  allows the government to collect taxes if printed materials are sold online.
D)  prevents the pirating of digital products that do not have a registered trademark.
E)  allows anyone with access to a computer to publish original materials online and seek remuneration (pay) .F) A) and C)
G) B) and D)

Question 12

Many firms now use e-mail and the Internet to promote their products instead of sending promotional literature to current and prospective customers through the mail.UPS and FedEx continue to grow,offering both overnight and ground package delivery services.As a result,the U.S.Postal Service (USPS) has lost millions of customers and billions in revenue.The USPS has challenges ahead in coping with ________ forces in the marketplace.

Accepted Answer

A)  economic
B)  competitive
C)  legal
D)  social
E)  technologicalF) A) and E)
G) All of the above

Question 13

A statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration is referred to as a

Accepted Answer

A)  micropolitan statistical area.
B)  metropolitan statistical area.
C)  downtown statistical area.
D)  zip code.
E)  combined statistical area.F) C) and D)
G) D) and E)

Question 14

The Better Business Bureau

Accepted Answer

A)  is the best-known federal agency involved in monitoring self-regulation of competing businesses.
B)  has a great deal of legal power to force a company to comply with its regulations.
C)  cannot be involved with Internet commerce.
D)  is a voluntary alliance of companies whose goal is to help maintain fair practices.
E)  is the agency that oversees advertising that runs on television programs.F) B) and C)
G) C) and D)

Question 15

Walmart has set ambitious goals to cut energy use by buying more local products,reducing packaging,and switching to renewable power in response to customers'

Accepted Answer

A)  changing values.
B)  changing population composition.
C)  changing demographics.
D)  changing regulatory forces.
E)  changing ethnic composition.F) A) and E)
G) A) and D)

Question 16

The two major purposes for any trademark statute are to

Accepted Answer

A)  protect the investment of energy,time,and money that the owner of a trademark has invested in the development of the product and guarantee the owner of the trademark complete rights to his work for the duration of the owner's lifetime.
B)  protect the inventor's individual rights and provide the company with the maximum profits possible.
C)  protect the rights of the inventor both here and abroad.
D)  protect the public so they will get the product it wants and asks for and protect the government so it will be able to collect its fair share of taxes from the revenues generated.
E)  protect the firm selling the trademarked product and protect the consumer buying the product.F) A) and B)
G) C) and D)

Question 17

An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is referred to as

Accepted Answer

A)  a tying arrangement.
B)  requirement contracting.
C)  exclusive dealing.
D)  territorial dealership contracting.
E)  selective distribution.F) A) and C)
G) All of the above

Question 18

Gross income refers to

Accepted Answer

A)  the money that remains after paying for taxes and necessities.
B)  the money deducted from a person's paycheck to pay for federal,state,and local taxes.
C)  the money a consumer has left after paying taxes to use for necessities such as food,shelter,clothing,and transportation.
D)  the total amount of money made by a single individual during his or her lifetime.
E)  the total amount of money made in one year by a person,household,or family unit.F) C) and D)
G) A) and B)

Question 19

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.F) A) and B)
G) B) and D)

Question 20

For 18 months,Warner-Lambert Co. ,an American pharmaceutical company,was required to include the following statement in all television advertisements for Listerine: "Listerine will not help prevent colds or sore throats or lessen their severity." The Federal Trade Commission (FTC) imposed this requirement because previous advertising had caused consumers to believe Listerine was effective against colds.This is an example of the FTC action known as

Accepted Answer

A)  corrective advertising.
B)  deceptive advertising.
C)  unethical advertising.
D)  cease and desist advertising.
E)  self-regulation.F) B) and E)
G) C) and E)

Exam 3: Scanning the Marketing Environment

Correct Answer
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All of the following statements about the environmental forces that have influenced Facebook are true except which?

Correct Answer
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Gross income refers to

Correct Answer
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For millennials,"positive business" involvement means

Correct Answer
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Combinations of the marketing mix that reflect the unique attitudes,ancestry,communication preferences,and lifestyles of different races are referred to as ________ marketing programs.

Correct Answer
verified

Culture refers to the

Correct Answer
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In a(n) ________ economy,the cost to produce and buy products and services escalates as prices increase.

Correct Answer
verified

Walmart has set ambitious goals to cut energy use by buying more local products,reducing packaging,and switching to renewable power in response to customers'

Correct Answer
verified

The two major purposes for any trademark statute are to

Correct Answer
verified

The Digital Millennium Copyright Act,signed in 1998,

Correct Answer
verified

Correct Answer
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The Better Business Bureau

Correct Answer
verified

The generational cohort described as self-reliant,supportive of racial and ethnic diversity,better educated than previous generations,but having less net worth is

Correct Answer
verified

An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is referred to as

Correct Answer
verified

AT&T,Verizon,Sprint,and T-Mobile serve more than 95 percent of the subscribers in the U.S.wireless mobile phone market.Which form of competition characterizes this market?

Correct Answer
verified

Generation Y is defined as the generation of children born

Correct Answer
verified

A statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration is referred to as a

Correct Answer
verified

Regulation refers to

Correct Answer
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Correct Answer
verified

The Department of Labor monitors consumer expenditures through its annual

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Correct AnswerverifiedShow Answer

All of the following statements about the environmental forces that have influenced Facebook are true except which?

Correct AnswerverifiedShow Answer

Gross income refers to

Correct AnswerverifiedShow Answer

For millennials,"positive business" involvement means

Correct AnswerverifiedShow Answer

Combinations of the marketing mix that reflect the unique attitudes,ancestry,communication preferences,and lifestyles of different races are referred to as ________ marketing programs.

Correct AnswerverifiedShow Answer

Culture refers to the

Correct AnswerverifiedShow Answer

In a(n) ________ economy,the cost to produce and buy products and services escalates as prices increase.

Correct AnswerverifiedShow Answer

Walmart has set ambitious goals to cut energy use by buying more local products,reducing packaging,and switching to renewable power in response to customers'

Correct AnswerverifiedShow Answer

The two major purposes for any trademark statute are to

Correct AnswerverifiedShow Answer

The Digital Millennium Copyright Act,signed in 1998,

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The Better Business Bureau

Correct AnswerverifiedShow Answer

The generational cohort described as self-reliant,supportive of racial and ethnic diversity,better educated than previous generations,but having less net worth is

Correct AnswerverifiedShow Answer

An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is referred to as

Correct AnswerverifiedShow Answer

AT&T,Verizon,Sprint,and T-Mobile serve more than 95 percent of the subscribers in the U.S.wireless mobile phone market.Which form of competition characterizes this market?

Correct AnswerverifiedShow Answer

Generation Y is defined as the generation of children born

Correct AnswerverifiedShow Answer

A statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration is referred to as a

Correct AnswerverifiedShow Answer

Regulation refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The Department of Labor monitors consumer expenditures through its annual

Correct AnswerverifiedShow Answer

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