Archive for August 2017

Regulations protect:

Regulations protect:



A) consumers.
B) competitors.
C) consumers and companies.
D) companies and competitors.
E) companies.




Answer: C

Pure competition happens when every company has .

Pure competition happens when every company has .




A) targeted marketing
B) the same price for products
C) similar products
D) an equal portion of market share
E) clearly differentiated products




Answer: C

Baby Boomlets are also known as:

Baby Boomlets are also known as:



A) Generation Y or the Net Generation.
B) Sunshine Group.
C) Video Generation.
D) Echo Boomlets.
E) Sports crazed.





Answer: A

_____ require a buyer to purchase all or part of its needs for a product from one seller for a time period. These contracts are not always illegal but depend on the court's interpretation of their impact on distribution.

_____ require a buyer to purchase all or part of its needs for a product from one seller for a time period. These contracts are not always illegal but depend on the court's interpretation of their impact on distribution.




Requirement contracts

The Infant Formula Act (1980), the Nutritional Labeling and Education Act (1990), new labeling requirements for dietary supplements (1997), proposed labeling guidelines for trans fats (2006), the Fair Packaging and Labeling Act (1966), the Child Protection Act (1966), and the Consumer Product Safety Act (1972) are all examples of ______.

The Infant Formula Act (1980), the Nutritional Labeling and Education Act (1990), new labeling requirements for dietary supplements (1997), proposed labeling guidelines for trans fats (2006), the Fair Packaging and Labeling Act (1966), the Child Protection Act (1966), and the Consumer Product Safety Act (1972) are all examples of ______.




consumer-oriented federal laws

A company can protect its competitive position under the ___________, which gives inventors the right to exclude others from making, using, or selling products that infringe the patented invention.

A company can protect its competitive position under the ___________, which gives inventors the right to exclude others from making, using, or selling products that infringe the patented invention.




A) copyright law
B) patent law
C) criminal law
D) commercial law
E) anti-trust law





Answer: B

The Better Business Bureau (BBB):

The Better Business Bureau (BBB):




A) has no legal power.
B) is the best-known example of a self-regulatory group.
C) is a voluntary alliance of companies whose goal is to maintain fair practices.
D) tries to use moral suasion to get members to comply with its rulings.
E) is accurately described by all of the above





Answer: E

Today's modern corporations need:

Today's modern corporations need:



A) constant change rather than stability
B) networks rather than hierarchies
C) partnerships
D) alliances
E) all of the above





Answer: E

Police in Israel had to investigate dozens of civil servants on suspicion they obtained fake academic degrees to win pay raises. In Israel, government workers win an automatic 10 percent to 20 percent raise for every advanced degree they earn. By legislating this pay raise, Israel increased the buying power of people who did not deserve the increased income. This law affects how __________ forces impact the external environment.

Police in Israel had to investigate dozens of civil servants on suspicion they obtained fake academic degrees to win pay raises. In Israel, government workers win an automatic 10 percent to 20 percent raise for every advanced degree they earn. By legislating this pay raise, Israel increased the buying power of people who did not deserve the increased income. This law affects how __________ forces impact the external environment.




A) regulatory and economic
B) competitive and regulatory
C) ecological and economic
D) technological and ecological
E) social and economic






Answer: A

Which of the following statements about electronic business technologies is true?

Which of the following statements about electronic business technologies is true?



A) The Internet and the World Wide Web are synonyms.
B) The World Wide Web is part of the Internet.
C) Intranets permit communication between a company and its suppliers and distributors.
D) Users access the Internet through the use of commercial online servers.
E) All of the above statements about electronic business technologies are true.




Answer: D

The owner of your local Subway franchise has had a good year with rising revenues and reduced operating costs that resulted in personal income of roughly $100,000. Approximately one-third of that went to local, provincial, and federal income taxes, and another third went to pay for mortgage, car payments, food, clothing, and other necessities. What is the remaining third called?

The owner of your local Subway franchise has had a good year with rising revenues and reduced operating costs that resulted in personal income of roughly $100,000. Approximately one-third of that went to local, provincial, and federal income taxes, and another third went to pay for mortgage, car payments, food, clothing, and other necessities. What is the remaining third called?



A) windfall
B) bonus
C) discretionary income
D) disposable income
E) franchiser fee




Answer: C

In 2002 after four years of recession in Argentina, the government found it impossible to repay $132 billion in loans. As the Argentine government struggled to find ways to pay its debt, it froze many bank accounts and limited all bank withdrawals to $1,000. The country also experienced plunging consumer confidence, which directly impacted its marketing environment. This is an example of how __________ forces affect marketing.

In 2002 after four years of recession in Argentina, the government found it impossible to repay $132 billion in loans. As the Argentine government struggled to find ways to pay its debt, it froze many bank accounts and limited all bank withdrawals to $1,000. The country also experienced plunging consumer confidence, which directly impacted its marketing environment. This is an example of how __________ forces affect marketing.



A) economic
B) technological
C) competitive
D) social
E) ecological





Answer: A

You are the marketing director for a large potato chip and snack food company. You have learned that a major portion of your current market has been switching from salty snacks to healthier snack foods. Which environmental force most likely has contributed to this change in dietary habits?

You are the marketing director for a large potato chip and snack food company. You have learned that a major portion of your current market has been switching from salty snacks to healthier snack foods. Which environmental force most likely has contributed to this change in dietary habits?



A) economic
B) regulatory
C) competitive
D) social
E) ecological






Answer: D

Generation X is the label often given to:

Generation X is the label often given to:



A) people 65 years old and older.
B) hip, urban teenagers.
C) people born between 1965 and 1976.
D) the generation born between baby-boomers and their parents.
E) fans of jazz music.





Answer: C

Between now and 2030, the 65-and-over populations in Singapore, Malaysia, Colombia, and Costa Rica are expected to at least triple in size. This population growth raises important marketing issues as a result of changes in _________ forces.

Between now and 2030, the 65-and-over populations in Singapore, Malaysia, Colombia, and Costa Rica are expected to at least triple in size. This population growth raises important marketing issues as a result of changes in _________ forces.



A) ecological
B) social
C) cultural
D) regulatory
E) competitive





Answer: B

Anna has been instructed to prepare a short paper on her ancestors' demographics. She has asked some friends to explain her topic to her. Which of the following statements addresses an element of demographics?

Anna has been instructed to prepare a short paper on her ancestors' demographics. She has asked some friends to explain her topic to her. Which of the following statements addresses an element of demographics?



A) She is supposed to write about her family's customs.
B) She is supposed to describe the personalities in her family.
C) She is supposed to write about the ethnic composition of her family.
D) She is supposed to write about any geographical shifts her family has made and how it changed them.
E) She is supposed to write about her family's attitude toward life in the United States.





Answer: C

In 2001 all over Japan, children were gathering around "stadiums" no bigger than serving platters to shoot spinning, battling tops of metal and plastic called Beyblade. The winner is the top that keeps spinning the longest. This top is the latest fad in the nation that created Pokemon, PlayStation, and Power Rangers and is expected to be popular in all of the developed nations of the world. Twenty million of the tops sold in 2001 in Japan along with Beyblade candy, notebooks, video games, and shampoo. Beyblade is an example of a(n) __________ trend among children.

In 2001 all over Japan, children were gathering around "stadiums" no bigger than serving platters to shoot spinning, battling tops of metal and plastic called Beyblade. The winner is the top that keeps spinning the longest. This top is the latest fad in the nation that created Pokemon, PlayStation, and Power Rangers and is expected to be popular in all of the developed nations of the world. Twenty million of the tops sold in 2001 in Japan along with Beyblade candy, notebooks, video games, and shampoo. Beyblade is an example of a(n) __________ trend among children.



A) technological
B) economic
C) competitive
D) regulatory
E) social






Answer: E

Which of the following is a characteristic of the new business model adopted by corporations?

Which of the following is a characteristic of the new business model adopted by corporations?



A) small business units
B) empowered workers with responsibility and accountability
C) managers who support
D) increases in productivity by making the most of individuals' creativity
E) all of the above are characteristics of the new corporate business model





Answer: E

In April 2000, the MTV website was the only place you could buy tickets for Metallica's concert tour. More than 100,000 tickets were sold in less than 72 hours. This is an example of how __________ forces can actually improve sales.

In April 2000, the MTV website was the only place you could buy tickets for Metallica's concert tour. More than 100,000 tickets were sold in less than 72 hours. This is an example of how __________ forces can actually improve sales.



A) economic
B) technological
C) regulatory
D) ecological
E) competitive






Answer: B

WomenDefy.com is a website owned and operated by the manufacturers of Reebok sporting equipment. The site sells products designed especially for women. It also has stories about ordinary women performing extraordinary feats. The website is:

WomenDefy.com is a website owned and operated by the manufacturers of Reebok sporting equipment. The site sells products designed especially for women. It also has stories about ordinary women performing extraordinary feats. The website is:




A) the result of the growth of dual-income families.
B) an example of the changing attitudes of women.
C) a reflection of the consumer demand for value consciousness.
D) designed as a tool that will creatively make Reebok recession-proof.
E) in response to the growing number of single-parent households.





Answer: B

Which of the following statements about culture is true?

Which of the following statements about culture is true?



A) Culture consists of a series of current trends.
B) Culture is an example of an economic force within the marketing environment.
C) Since Canada is described as a "cultural mosaic" ;cultural trends are typically not monitored by businesses.
D) Culture is only important in terms of international marketing.
E) Culture includes attitudes and values.





Answer: E

The HSBC Bank International Ltd. Selected its advertising agency because that agency was "always sensitive to the possibility that something might not translate well or may offend superstitions about colours or numbers." This is an example of how _________ forces affect marketing.

The HSBC Bank International Ltd. Selected its advertising agency because that agency was "always sensitive to the possibility that something might not translate well or may offend superstitions about colours or numbers." This is an example of how _________ forces affect marketing.



A) social
B) technological
C) economic
D) competitive
E) regulatory






Answer: A

Generation X consumers are:

Generation X consumers are:



A) people that like to rely on others.
B) somewhat prone to extravagance.
C) poorly educated.
D) self-reliant and entrepreneurial.
E) not generally supportive of racial and sexual diversity.




Answer: D

An ad on the back of a women's magazine for Cover Girl cosmetics shows Queen Latifah, Jennifer Lopez and Shania Twain endorsing its products as good for their skin. This is an example of an ad with a __________ focus because it shows product users of different ethnic backgrounds.

An ad on the back of a women's magazine for Cover Girl cosmetics shows Queen Latifah, Jennifer Lopez and Shania Twain endorsing its products as good for their skin. This is an example of an ad with a __________ focus because it shows product users of different ethnic backgrounds.



A) physiological
B) behavioural
C) occupational
D) demographic
E) psychographic






Answer: D

According to a business journal, despite the Internet and television, Canadians are actively engaged in their communities. Fifty-four percent have performed volunteer work and 78 percent have donated money to charities. A marketing manager for a charitable organization reads this and asks research and development personnel to identify possible new ad campaigns that will encourage this high level of community-connectedness to continue. This ad campaign change is the result of the managerial activity called:

According to a business journal, despite the Internet and television, Canadians are actively engaged in their communities. Fifty-four percent have performed volunteer work and 78 percent have donated money to charities. A marketing manager for a charitable organization reads this and asks research and development personnel to identify possible new ad campaigns that will encourage this high level of community-connectedness to continue. This ad campaign change is the result of the managerial activity called:





A) ecological/technological forecasting.
B) environmental scanning.
C) macroeconomic analysis.
D) strategic planning.
E) futuristic marketing





Answer: B

Robert could not buy his Principles of Marketing textbook this semester by the first day of class if the bookstore did not accept one of the four major credit cards. With his VISA credit card, he was able to obtain the book for his first marketing class. The credit card created ___________ utility for Robert.

Robert could not buy his Principles of Marketing textbook this semester by the first day of class if the bookstore did not accept one of the four major credit cards. With his VISA credit card, he was able to obtain the book for his first marketing class. The credit card created ___________ utility for Robert.



a. form
b. time
c. price
d. possession
e. place






Answer: D

Which of the following is an example of possession utility?

Which of the following is an example of possession utility?



a. an iPhone with a large selection of new "apps"
b. the local dairy that offers to deliver bottles of milk to a customer's doorstep
c. disposable diapers that come equipped with resealable tabs
d. a gourmet food store that carries a line of ready-made salads
e. a mobile phone company that offers six-month financing, same as cash






Answer: E

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day. This creates both __________ and __________ utility.

Redbox places vending machines at local convenience and grocery stores that allow customers to rent and return popular DVDs 24 hours a day. This creates both __________ and __________ utility.




a. form and place
b. form and time
c. place and time
d. time and possession
e. form and possession






Answer: C

Which of the following is an example of time utility?

Which of the following is an example of time utility?





a. an iPhone with a "multitouch" user interface for easy navigation
b. a dry cleaners that is located inside a supermarket
c. Goodwill that has a 24-hour drop off box for clothing donations
d. a cell phone company that offers six-month financing, same as cash
e. a new herbal supplement that offers a 30-day free trial





Answer: C

Which of the following statements is an example of place utility?

Which of the following statements is an example of place utility?



a. airlines that allow you to print your own boarding pass at home
b. a service station that sells both unleaded gasoline and diesel fuel
c. a mobile phone company that offers six-month financing, same as cash
d. cold cut packages that can be zipped close for reuse
e. an iPhone with a "multitouch" user interface for easy navigation






Answer: A

Which of the following is an example of form utility?

Which of the following is an example of form utility?



a. an iPhone with a "multitouch" user interface for easy navigation
b. stamp vending machines that are located in drug stores
c. a service station that has a 24-hour ice machine available for use when the station is closed
d. a mobile phone company that offers six-month financing, same as cash
e. a gourmet candy store that offers a home delivery service





Answer: A

The four utilities marketing creates are

The four utilities marketing creates are



a. product, price, promotion, and place.
b. form, function, value, and people.
c. monopoly, monopolistic competition, pure competition, and oligopoly.
d. form, place, time, and possession.
e. natural gas, fossil fuel, electricity, and water.






Answer: D

Effective marketing benefits society because it

Effective marketing benefits society because it




a. reduces competition, making the playing field more even.
b. improves the quality of products and services regardless of the cost.
c. allows companies to charge whatever price they want, regardless of product quality.
d. makes countries more competitive in world markets while simultaneously reducing competition in their home markets.
e. enhances competition, which improves the quality of products and services and lowers their prices.




Answer: E

Which of the following is the best example of an organizational buyer?

Which of the following is the best example of an organizational buyer?



a. a mother buying milk for her young son
b. a computer programmer buying the latest game for his PlayStation 3
c. a store owner buying hand-painted slate signs to sell in her store
d. a botanist buying a rose bush for his home garden
e. a parent buying a softball glove for a daughter






Answer: C

Which of the following is an example of an ultimate consumer?

Which of the following is an example of an ultimate consumer?



a. a newspaper reporter who buys a plane ticket to Washington, D.C. to cover the presidential inauguration
b. a school teacher who bought a ticket to the Summer Olympics opening ceremonies
c. an office receptionist who renews the magazines that are found in the office waiting room
d. a retailer who buys poster board to make signs for an upcoming store sale
e. a landscaping firm employee who buys a new wheelbarrow to use to haul mulch






Answer: B

Time Inc. has published a new magazine, All You, which is distributed only in Walmart stores. Who is the ultimate consumer for this magazine?

Time Inc. has published a new magazine, All You, which is distributed only in Walmart stores. Who is the ultimate consumer for this magazine?



a. the person who buys the magazine to read at home
b. the person who stocks the magazine rack at Walmart
c. the person who browses the magazine in the store but does not buy it
d. the salesperson for Time Inc. that sold the magazine to Walmart
e. All people, from the writer, to the seller, to the reader at home, are the ultimate consumers.





Answer: A

Ultimate consumers refer to

Ultimate consumers refer to




a. the people who use the products and services purchased for a household.
b. people who have already purchased a firm's product at least once, have been satisfied, and are likely to make repeat purchases.
c. people or organizations that have used a competitor's product and who have been dissatisfied, and who are still seeking a product or service to satisfy their needs.
d. those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
e. one or more specific groups of potential customers toward whom an organization directs its marketing program.






Answer: A

The Hermitage, a famous Russian art museum, was suffering financial difficulties as the result of lost funding and a decrease in tourists. The decrease in visitors is blamed on a lack of awareness of the treasures contained in the museum. As a result, the Hermitage's director used a strategic alliance with IBM to create a website where people can go and view some of the wonders of the Hermitage in an online virtual tour. The hope is that this sampling of paintings, sculptures, etc. will encourage visitors to make a trip to the Hermitage and spend some money there to cover the costs of its operations. The Hermitage is a(n) __________ that uses online virtual tours to market itself worldwide.

The Hermitage, a famous Russian art museum, was suffering financial difficulties as the result of lost funding and a decrease in tourists. The decrease in visitors is blamed on a lack of awareness of the treasures contained in the museum. As a result, the Hermitage's director used a strategic alliance with IBM to create a website where people can go and view some of the wonders of the Hermitage in an online virtual tour. The hope is that this sampling of paintings, sculptures, etc. will encourage visitors to make a trip to the Hermitage and spend some money there to cover the costs of its operations. The Hermitage is a(n) __________ that uses online virtual tours to market itself worldwide.



a. good
b. idea
c. service
d. product
e. charity







Answer: C

Which answer reflects (in order) a good, a service, and an idea that can be marketed?

Which answer reflects (in order) a good, a service, and an idea that can be marketed?




a. a candy bar, a wastepaper basket, and a vending machine
b. a CD, a concert, and a souvenir T-shirt
c. a political candidate, democracy, and freedom
d. an iPod, an iPhone, and an iPad
e. a toothbrush, laser teeth whitening, and dental hygiene






Answer: E

A product

A product



a. consists of the benefits or customer value received by its sellers.
b. is the cluster of benefits that an organization promises customers to satisfy their needs.
c. is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.
d. consists of items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
e. is the set of intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.







Answer: C

Which of the following statements best describes a service?

Which of the following statements best describes a service?




a. Services are physical objects.
b. Services are intangible items.
c. Services are intangible concepts and thoughts about ideas or causes.
d. Services are the benefits organizations receive in exchange for selling products.
e. Services comprise the subset of tangible features of products.





Answer: B

Which of the following statements best describes a good?

Which of the following statements best describes a good?




a. Goods are physical objects.
b. Goods are intangible items.
c. Goods are intangible concepts and thoughts about ideas or causes.
d. Goods are the benefits organizations receive for selling products and services.
e. Goods are intangible concepts and thoughts about products or services.





Answer: A

Which of the following organizations engage in marketing?

Which of the following organizations engage in marketing?





a. Chicago Cubs
b. San Francisco Opera
c. the city of Denver
d. the president of the United States
e. Every organization or individual can engage in marketing to some extent.






Answer: E

What kinds of organizations engage in marketing?

What kinds of organizations engage in marketing?




a. only those that can afford to advertise
b. only very large and established for profit organizations
c. only Fortune 500 companies
d. every organization regardless of the kind
e. only the organization that wants to make a profit






Answer: D
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