Archive for July 2018

One way for corporations to attempt to influence the political environment is through

One way for corporations to attempt to influence the political environment is through





a) special benefits to employees.
b) direct contributions to candidates.
c) contributions to elected officials.
d) contributions to political action committees.
e) organizing political action committees.



Answer: e

Which of the following is not a reason that marketers try to maintain good relations with elected political officials?

Which of the following is not a reason that marketers try to maintain good relations with elected political officials?





a) Political officials can influence how much a government agency purchases and from whom.
b) Political officials can play key roles in helping organizations secure foreign markets.
c) Political officials well disposed toward particular firms or industries are less likely to create or enforce laws and regulations unfavorable to these firms.
d) Political officials can accept direct corporate campaign contributions.
e) Political officials who believe that companies in a particular industry are making honest efforts to control pollution are unlikely to create and enforce highly restrictive pollution control laws over that industry.



Answer: d

Texas rice farmers wish to get their product into the Japanese market but are hindered by a complex maze of regulations imposed by the Japanese government. The farmers are most likely to attempt to influence which aspect of the marketing environment?

Texas rice farmers wish to get their product into the Japanese market but are hindered by a complex maze of regulations imposed by the Japanese government. The farmers are most likely to attempt to influence which aspect of the marketing environment?




a) Sociocultural
b) Technological
c) Competitive
d) Economic
e) Political


Answer: e

When using credit to make purchases, consumers are

When using credit to make purchases, consumers are




a) decreasing current buying power and increasing future buying power.
b) increasing their present discretionary income to extend purchasing power.
c) putting themselves at significant risk of financial disaster.
d) forgoing the accumulation of wealth to increase current income.
e) increasing current buying power at the expense of future buying power.


Answer: e

By offering credit and financing through its GMAC division, General Motors is trying to help consumers

By offering credit and financing through its GMAC division, General Motors is trying to help consumers




a) expand future buying power at the expense of current buying power.
b) expand disposable income at the expense of discretionary income.
c) expand current buying power at the expense of future buying power.
d) expand both disposable income and wealth.
e)decrease both disposable and discretionary income.


Answer: c

Heidi decided to spend some of her saved money on tickets to a Cold Play concert coming to town, and now she is planning on buying a new outfit for the concert. What type of resources is Heidi making decisions about?

Heidi decided to spend some of her saved money on tickets to a Cold Play concert coming to town, and now she is planning on buying a new outfit for the concert. What type of resources is Heidi making decisions about?




a) Disposable income
b) Wealth
c) Buying power
d) Discretionary income
e) Savings income


Answer: d

A person's buying power is a function of

A person's buying power is a function of





a) disposable income.
b) past income, natural resources, and financial resources.
c) wages, rents, and investments.
d) income, wealth, and credit.
e) discretionary income.


Answer: d

Why are marketers interested in consumers' levels of disposable income?

Why are marketers interested in consumers' levels of disposable income?




a) It accurately predicts future buying power.
b) It increases current buying power.
c) It is what is left after taxes and savings to buy luxuries with.
d) It is a ready source of buying power.
e) It is essential for forecasting future business trends.


Answer: d

The best approach for a company to take when monitoring its competitors is

The best approach for a company to take when monitoring its competitors is





a) watching for increases and decreases in competitors' prices and match them.
b) analyzing all information that is readily available about competitors.
c) sending employees to competitors' offices and factories to observe their actions.
d) developing a system for gathering ongoing information about competitors.
e) reading important business publications such as The Wall Street Journal.


Answer: d

J. Pitner Clothing is a medium-size specialty men's and women's clothing store in a market with many other specialty stores, department stores, and discounters. It has established a reputation for offering high-quality, fashionable merchandise with quality service. J. Pitner's competitive environment would best be characterized as

J. Pitner Clothing is a medium-size specialty men's and women's clothing store in a market with many other specialty stores, department stores, and discounters. It has established a reputation for offering high-quality, fashionable merchandise with quality service. J. Pitner's competitive environment would best be characterized as





a) oligopoly
b) monopoly
c) pure competition
d) oligopolistic competition
e) monopolistic competition



Answer: e

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) _______ structure exists in the competitive environment.

When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) _______ structure exists in the competitive environment.





a) oligopoly
b) monopoly
c) pure competition
d) oligopolistic competition
e) monopolistic competition


Answer: e

Most marketers operate in a competitive environment of either

Most marketers operate in a competitive environment of either




a) oligopoly or monopoly.
b) oligopoly or monopolistic competition.
c) oligopoly or pure competition.
d) monopoly or pure competition.
e) pure competition or monopolistic competition.


Answer: b

The American automobile industry used to be dominated by "The Big Three," including General Motors, Ford, and Chrysler. However, as many more foreign competitors began influencing this market, the American companies had to modify and differentiate their products. The automobile industry moved from a(n) ______ structure to a(n) _______ structure.

The American automobile industry used to be dominated by "The Big Three," including General Motors, Ford, and Chrysler. However, as many more foreign competitors began influencing this market, the American companies had to modify and differentiate their products. The automobile industry moved from a(n) ______ structure to a(n) _______ structure.




a) monopolistic; oligopolistic
b) oligopolistic; pure competition
c) oligopolistic; monopolistic competition
d) monopolistic competition; pure competition
e) monopolistic; monopolistic competition


Answer: c

The four major competitive structures are

The four major competitive structures are





a) monopolies, oligopolies, oligopolistic monopolies, and pure competition.
b) pure competition, heavy competition, moderate competition, and light competition.
c) brand, product, total budget, and generic.
d) oligopolies, monopolies, monopolistic competition, and pure competition.
e) monopolies, limited competition, oligopolistic competition, and pure competition.


Answer: d

Due to limited resources, a consumer decided to serve Hawaiian Punch to a New Year's Eve party crowd instead of Korbel champagne. As a result of this action, Korbel and Hawaiian Punch can be viewed as ___________ competitors.

Due to limited resources, a consumer decided to serve Hawaiian Punch to a New Year's Eve party crowd instead of Korbel champagne. As a result of this action, Korbel and Hawaiian Punch can be viewed as ___________ competitors.





a) Pure
b) Generic
c) Total budget
d) Product
e) Oligopolistic


Answer: b

In today's marketing environment, competitors can take on many forms. For example, Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum. In this circumstance, these two products are described as ___________ competitors.

In today's marketing environment, competitors can take on many forms. For example, Diet Coke can be seen as a competitor to Wrigley's Double Mint chewing gum. In this circumstance, these two products are described as ___________ competitors.





a) Pure
b) Generic
c) Total budget
d) Product
e) Monopolistic



Answer: c

Environmental scanning means ___________ information about the marketing environment, whereas environmental analysis is concerned with ___________ this information.

Environmental scanning means ___________ information about the marketing environment, whereas environmental analysis is concerned with ___________ this information.




a) assessing; collecting
b) assessing; interpreting
c) collecting; assessing
d) interpreting; observing
e) gathering; observing


Answer: c

Three primary methods of collecting information for environmental scanning are

Three primary methods of collecting information for environmental scanning are





a) marketing research, company records, and advance orders.
b) secondary sources, company records, and observation.
c) executive knowledge, media, and marketing research.
d) observation, secondary sources, and marketing research.
e) company database, executive knowledge, and research.


Answer: d
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