Question 1

Recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of radio frequency (RFID)  tags that are currently used in industry. This is an example of how __________ forces are applied to industry.

Accepted Answer

A)  ecological
B)  regulatory
C)  technological
D)  competitive
E)  marketing mixF) C) and E)
G) D) and E)

Question 2

The Lanham Act cannot protect the rights to a trademark if

Accepted Answer

A)  the company is accused of violating the Sherman Antitrust Act.
B)  the product patent is less than 17 years old.
C)  the word, name, or symbol has become generic.
D)  the statute of limitations has run out.
E)  the government refuses to enforce violations.F) C) and E)
G) B) and C)

Question 3

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)  Robinson-Patman ActF) B) and D)
G) A) and B)

Question 4

What is the difference between a patent and a copyright? Digital technology has required what additional recent legislation?

Accepted Answer

A patent gives inventors of new and nove...

Question 5

Give an example of how each of the five environmental forces can impact an organization's marketing environment.

Accepted Answer

This question can be made a little more ...

Question 6

A local pet supplies boutique had a good year with rising revenues and reduced operating costs resulting in personal income for the owner of nearly $100,000. One-third of that went to local, state, and federal income taxes and another third went to pay for a home mortgage, car payments, food, clothing, and other necessities. What is the remaining third called?

Accepted Answer

A)  gross income
B)  bonus income
C)  discretionary income
D)  disposable income
E)  profitF) None of the above
G) A) and B)

Question 7

Generally, the U.S. population is becoming

Accepted Answer

A)  smaller, younger, and more diverse.
B)  smaller, older, and more diverse.
C)  larger, younger, and less diverse.
D)  larger, younger, and more diverse.
E)  larger, older, and more diverse.F) B) and D)
G) A) and E)

Question 8

How do the macroeconomic conditions as well as consumer income affect marketing?

Accepted Answer

The economy pertains to the income, expe...

Question 9

Components of a consumer's income consist of

Accepted Answer

A)  inflationary, recessionary, and depressive economies.
B)  salaries, taxes, and assets.
C)  gross, disposable, and discretionary components.
D)  sales taxes, income taxes, and property taxes.
E)  assets, liabilities, and equities.F) C) and D)
G) A) and E)

Question 10

A high-fashion boutique sells top-of-the-line women's clothing and accessories. The keys to its success include knowing customers' changing tastes and providing something different than other retailers. In addition, because of the high value of the merchandise, the boutique's management is investing in the use of computerized inventory controls and sales order processing. The least important environmental force to the boutique at this time is likely to be

Accepted Answer

A)  economic.
B)  competitive.
C)  technological.
D)  social.
E)  regulatory.F) A) and D)
G) C) and D)

Question 11

The form of competition in which many sellers compete with substitutable products within a price range is called

Accepted Answer

A)  pure competition.
B)  cross-market competition.
C)  an oligopoly.
D)  monopolistic competition.
E)  a monopoly.F) B) and E)
G) None of the above

Question 12

Consumerism refers to

Accepted Answer

A)  a movement of conspicuous consumption that began when World War II ended.
B)  conducting business in a way that protects the natural environment while making economic progress.
C)  a collaborative effort between buyers and sellers to create an exchange where each benefit.
D)  the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long-term growth.
E)  the grassroots movement started in the 1960s to increase the influence, power, and rights of consumers in dealing with institutions.F) A) and E)
G) A) and D)

Question 13

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 B)
G) B) and E)

Question 14

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks __________, it was prepared for this shift in its marketing environment.

Accepted Answer

A)  optimized its distribution by adding local outlets in grocery stores
B)  noticed the change in the demographics of coffee and tea drinkers in general
C)  added more in-store displays
D)  shifted funds from product development to advertising
E)  tracked, as part of its ongoing environmental scanning activities, the percentage of households with single cup brewersF) None of the above
G) All of the above

Question 15

Agribusinesses that sell commodity products such as wheat, rice, and corn are often in __________ position with their competitors.

Accepted Answer

A)  a limited competition
B)  a pure competition
C)  an oligopolistic competition
D)  a monopolistic competition
E)  a monopolisticF) B) and C)
G) B) and E)

Question 16

In an inflationary economy, the cost to produce and buy products and services __________ as prices __________.

Accepted Answer

A)  increases; increase
B)  increases; decrease
C)  decreases; increase
D)  decreases; decrease
E)  does not change; increaseF) B) and D)
G) All of the above

Question 17

Last year, the Parker family dined at nice restaurants almost four times a week. Even though Mr. Parker received a 2 percent pay raise, the cost of living rose by 4 percent and property taxes went up 5 percent in their community. As a result, the family now eats most of their meals at home, dining out only a few times a month. This reflects

Accepted Answer

A)  a decrease in the number of fine restaurants that can stay in business during times of economic downturn.
B)  a reaction to a loss of discretionary income.
C)  a significant drop in disposable income since there was a negative gain in income.
D)  a rise in deflation.
E)  a shift from spending to investing.F) None of the above
G) A) and B)

Question 18

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Accepted Answer

The Sherman Antitrust Act (1890) was the...

Question 19

By 2050, the world's population is expected to be

Accepted Answer

A)  5 billion.
B)  5.7 billion.
C)  6.1 billion.
D)  7.9 billion.
E)  9.6 billion.F) B) and E)
G) All of the above

Question 20

The purpose of the Clayton Act is to

Accepted Answer

A)  provide incentives for interstate commerce.
B)  forbid actions that are likely to lessen competition, although no actual harm has yet occurred.
C)  exact compensation from firms found guilty of violating fair trade practices.
D)  repeal provisions of the Sherman Antitrust Act that stifled innovation.
E)  strengthen the Robinson-Patman Act.F) None of the above
G) B) and D)

Exam 3: Scanning the Marketing Environment

By 2050, the world's population is expected to be

Correct Answer
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Correct Answer
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How do the macroeconomic conditions as well as consumer income affect marketing?

Correct Answer
verified
The economy pertains to the income, expe...
View Answer

Generally, the U.S. population is becoming

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

What is the difference between a patent and a copyright? Digital technology has required what additional recent legislation?

Correct Answer
verified
A patent gives inventors of new and nove...
View Answer

Agribusinesses that sell commodity products such as wheat, rice, and corn are often in __________ position with their competitors.

Correct Answer
verified

Give an example of how each of the five environmental forces can impact an organization's marketing environment.

Correct Answer
verified
This question can be made a little more ...
View Answer

Components of a consumer's income consist of

Correct Answer
verified

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks __________, it was prepared for this shift in its marketing environment.

Correct Answer
verified

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

Correct Answer
verified

The purpose of the Clayton Act is to

Correct Answer
verified

The Lanham Act cannot protect the rights to a trademark if

Correct Answer
verified

Correct Answer
verified

Consumerism refers to

Correct Answer
verified

In an inflationary economy, the cost to produce and buy products and services as prices .

Correct Answer
verified

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Correct Answer
verified
The Sherman Antitrust Act (1890) was the...
View Answer

The form of competition in which many sellers compete with substitutable products within a price range is called

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

By 2050, the world's population is expected to be

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

How do the macroeconomic conditions as well as consumer income affect marketing?

Correct AnswerverifiedThe economy pertains to the income, expe...View AnswerShow Answer

Generally, the U.S. population is becoming

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What is the difference between a patent and a copyright? Digital technology has required what additional recent legislation?

Correct AnswerverifiedA patent gives inventors of new and nove...View AnswerShow Answer

Agribusinesses that sell commodity products such as wheat, rice, and corn are often in __________ position with their competitors.

Correct AnswerverifiedShow Answer

Give an example of how each of the five environmental forces can impact an organization's marketing environment.

Correct AnswerverifiedThis question can be made a little more ...View AnswerShow Answer

Components of a consumer's income consist of

Correct AnswerverifiedShow Answer

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks __________, it was prepared for this shift in its marketing environment.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The purpose of the Clayton Act is to

Correct AnswerverifiedShow Answer

The Lanham Act cannot protect the rights to a trademark if

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Consumerism refers to

Correct AnswerverifiedShow Answer

In an inflationary economy, the cost to produce and buy products and services __________ as prices __________.

Correct AnswerverifiedShow Answer

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Correct AnswerverifiedThe Sherman Antitrust Act (1890) was the...View AnswerShow Answer

The form of competition in which many sellers compete with substitutable products within a price range is called

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The economy pertains to the income, expe...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A patent gives inventors of new and nove...
View Answer

Correct Answer
verified

Correct Answer
verified
This question can be made a little more ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

In an inflationary economy, the cost to produce and buy products and services as prices .

Correct Answer
verified

Correct Answer
verified
The Sherman Antitrust Act (1890) was the...
View Answer

Correct Answer
verified