Question 1

The competitive environment that most marketing managers experience in developed economies is:

Accepted Answer

A)   monopoly.
B)   monopolistic competition.
C)   pure competition.
D)   oligopoly.
E)   regulated competition.F) A) and E)
G) A) and B)

Question 2

Of the following objectives, the LAST objective(s)  that a firm should specify is its ______________ objective(s) .

Accepted Answer

A)   marketing
B)   sales promotion
C)   price
D)   company
E)   promotionF) All of the above
G) A) and B)

Question 3

Despite the Antimerger Act, there has been some leniency in allowing mergers between firms that have been competitors. When considering a merger, companies should take this aspect of the _____________ environments into consideration.

Accepted Answer

A)   legal and political
B)   cultural and economic
C)   technological and legal
D)   social and cultural
E)   political and economicF) A) and B)
G) C) and D)

Question 4

The GE "stop-light" evaluation method is a very objective approach because GE feels there are too many possible errors if it tries to use subjective criteria for judging "attractiveness" or "strength."

Accepted Answer

A) True 
 B)False

Question 5

Generally the nations with the fastest growth in GDP are not the nations with the largest GDPs.

Accepted Answer

A) True 
 B)False

Question 6

The languages people speak, the type of education they have, and their religious beliefs are examples of the

Accepted Answer

A)   political environment.
B)   economic environment.
C)   cultural and social environment.
D)   legal environment.
E)   technological environment.F) A) and E)
G) A) and D)

Question 7

When screening for the best market opportunity for a firm, marketers should always avoid options that would combine:

Accepted Answer

A)   high industry attractiveness and the firm's strengths.
B)   medium industry attractiveness and the firm's strengths.
C)   low industry attractiveness and the firm's weaknesses.
D)   high industry attractiveness and the firm's weaknesses.
E)   medium industry attractiveness and the firm's medium strengths.F) A) and B)
G) A) and C)

Question 8

Changes in technology can have major impacts on marketing strategy planning.

Accepted Answer

A) True 
 B)False

Question 9

The "total profit" approach to evaluating possible product-market strategic plans:

Accepted Answer

A)   is the best approach to use.
B)   cannot be used to compare possible plans unless they are very similar.
C)   may support a plan that is not the most profitable in the short run.
D)   requires only sales forecasts for the life of possible plans.E) A) and B)
F) C) and D)

Question 10

Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"?

Accepted Answer

A)   Industrial products.
B)   Commodity-type consumer products.
C)   Consumer products linked to cultural variables.
D)   "Me-too" products.
E)   Fad products.F) B) and D)
G) A) and E)

Question 11

The worldwide trend toward urbanization has prompted increased interest in international markets.

Accepted Answer

A) True 
 B)False

Question 12

Less-developed countries usually experience the slowest population growth.

Accepted Answer

A) True 
 B)False

Question 13

The best marketing opportunity for a consumer products producer is in:

Accepted Answer

A)   California.
B)   Florida.
C)   New York.
D)   Texas.
E)   It depends on the marketing strategy.F) A) and B)
G) A) and C)

Question 14

The U.S. population is over 310 million people and the world population is more than 7 billion people.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following statements about the legal environment in the United States is not true?

Accepted Answer

A)   Individual managers are not subject to criminal penalties-only their employer can be punished.
B)   Consumer protection laws are not new.
C)   Many laws try to promote competition among firms.
D)   A commission has authority to oversee product safety.
E)   The Food and Drug Administration controls manufacturers of these products.F) A) and B)
G) C) and E)

Question 16

Safety standards for products such as bicycles are set by the:

Accepted Answer

A)   Consumer Product Safety Commission.
B)   U.S. Department of Transportation.
C)   Federal Trade Commission.
D)   Environmental Protection Agency.
E)   Food and Drug Administration.F) C) and D)
G) C) and E)

Question 17

The political environment may either block or promote new marketing opportunities.

Accepted Answer

A) True 
 B)False

Question 18

Technology affects marketing through new products and new processes.

Accepted Answer

A) True 
 B)False

Question 19

The inflation rate experienced by the United States in recent years was just about the highest in the world.

Accepted Answer

A) True 
 B)False

Question 20

When a firm is searching for attractive opportunities, a good manager should keep in mind that ___________ strength is very important.

Accepted Answer

A)   financial
B)   production and flexibility
C)   marketing
D)   pricing
E)   all of these strengths are importantF) C) and D)
G) A) and E)

Exam 3: Evaluating Opportunities in the Changing Marketing Environment

The "total profit" approach to evaluating possible product-market strategic plans:

Correct AnswerverifiedShow Answer

The political environment may either block or promote new marketing opportunities.

Correct AnswerverifiedShow Answer

The GE "stop-light" evaluation method is a very objective approach because GE feels there are too many possible errors if it tries to use subjective criteria for judging "attractiveness" or "strength."

Correct AnswerverifiedShow Answer

The inflation rate experienced by the United States in recent years was just about the highest in the world.

Correct AnswerverifiedShow Answer

Technology affects marketing through new products and new processes.

Correct AnswerverifiedShow Answer

Despite the Antimerger Act, there has been some leniency in allowing mergers between firms that have been competitors. When considering a merger, companies should take this aspect of the _____________ environments into consideration.

Correct AnswerverifiedShow Answer

The U.S. population is over 310 million people and the world population is more than 7 billion people.

Correct AnswerverifiedShow Answer

The competitive environment that most marketing managers experience in developed economies is:

Correct AnswerverifiedShow Answer

When screening for the best market opportunity for a firm, marketers should always avoid options that would combine:

Correct AnswerverifiedShow Answer

Safety standards for products such as bicycles are set by the:

Correct AnswerverifiedShow Answer

Which of the following statements about the legal environment in the United States is not true?

Correct AnswerverifiedShow Answer

Changes in technology can have major impacts on marketing strategy planning.

Correct AnswerverifiedShow Answer

When a firm is searching for attractive opportunities, a good manager should keep in mind that ___________ strength is very important.

Correct AnswerverifiedShow Answer

The languages people speak, the type of education they have, and their religious beliefs are examples of the

Correct AnswerverifiedShow Answer

Of the following objectives, the LAST objective(s) that a firm should specify is its ______________ objective(s) .

Correct AnswerverifiedShow Answer

Which of the following types of products is LEAST sensitive to environmental changes, according to the "continuum of environmental sensitivity"?

Correct AnswerverifiedShow Answer

Generally the nations with the fastest growth in GDP are not the nations with the largest GDPs.

Correct AnswerverifiedShow Answer

The worldwide trend toward urbanization has prompted increased interest in international markets.

Correct AnswerverifiedShow Answer

The best marketing opportunity for a consumer products producer is in:

Correct AnswerverifiedShow Answer

Less-developed countries usually experience the slowest population growth.

Correct AnswerverifiedShow Answer

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