Question 1

Projections show that the population is

Accepted Answer

A)   growing rapidly in North America.
B)   declining sharply in Australia.
C)   decreasing in most African nations.
D)   increasing in India.
E)   increasing in Eastern Europe.F) A) and B)
G) C) and D)

Question 2

Because there are few sellers, price competition among firms is avoided in which form of competition?

Accepted Answer

A)   pure competition
B)   cross-market competition
C)   a monopoly
D)   monopolistic competition
E)   an oligopolyF) A) and D)
G) A) and E)

Question 3

Income used to buy luxury items such as a voyage aboard the Queen Mary 2 offered by Cunard referred to as

Accepted Answer

A)   gross income.
B)   disposable income.
C)   surplus income.
D)   wealth income.
E)   discretionary income.F) A) and E)
G) A) and B)

Question 4

Though definitions are inconsistent, Generation Y, and especially its younger members, are frequently associated with

Accepted Answer

A)   the echo-bust.
B)   baby boomers.
C)   baby busters.
D)   the revolution generation.
E)   millennials.F) None of the above
G) A) and B)

Question 5

All of the following federal laws are designed to protect consumers except which?

Accepted Answer

A)   Consumer Product Safety Act
B)   FTC Act of 1914
C)   Nutritional Labeling and Education Act
D)   Digital Millennium Copyright Act
E)   Child Protection ActF) C) and D)
G) D) and E)

Question 6

Competitive pressures among existing firms depend on

Accepted Answer

A)   the current economic growth rate.
B)   the total number of established competitors.
C)   low fixed costs.
D)   the rate of industry growth.
E)   the availability of raw materials and natural resources.F) D) and E)
G) B) and C)

Question 7

The 50 million people born between 1965 and 1980, a period also known as the baby bust, are referred to as

Accepted Answer

A)   Generation X.
B)   millennials.
C)   Generation Y.
D)   Generation Z.
E)   baby boomers.F) B) and D)
G) B) and C)

Question 8

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as

Accepted Answer

A)   consumer group profiling.
B)   demographics.
C)   behavioral analysis.
D)   psychographics.
E)   statistical analysis.F) A) and B)
G) B) and C)

Question 9

Baby boomers can be defined as the generation born

Accepted Answer

A)   between 1918 and 1945.
B)   between 1946 and 1964.
C)   between 1965 and 1980.
D)   between 1981 and 1996.
E)   between 1997 and 2010.F) C) and D)
G) A) and D)

Question 10

Competition refers to

Accepted Answer

A)   identical products that perform identical functions.
B)   any for-profit organization that targets the customers of other organizations.
C)   alternative firms that could provide a product to satisfy a specific market's needs.
D)   any product or service that vies for a portion of a customer's discretionary income.
E)   the set of firms that operate in a given geographic region, regardless of product or service.F) None of the above
G) C) and E)

Question 11

In 2002, Geek Squad was purchased by leading retailer

Accepted Answer

A)   Target.
B)   Best Buy.
C)   Apple.
D)   Amazon.
E)   GameStop.F) None of the above
G) C) and E)

Question 12

The Lemon Tree is a high-fashion boutique selling 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 demanding clientele, The Lemon Tree's management is investing in the use of one-to-one marketing and artificial intelligence. The least important environmental force to The Lemon Tree at this time is likely to be

Accepted Answer

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

Question 13

The Electronic Signatures in Global and National Commerce Act makes digital signatures as valid as pen-and-ink signatures. This act created a demand for software and hardware that would collect, transmit, and receive digital signatures. This example indicates how ________ forces can work together in the marketing environment.

Accepted Answer

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

Question 14

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Accepted Answer

A)   Robinson-Patman Act
B)   Clayton Act
C)   Digital Millennium Copyright Act
D)   FTC Act
E)   Consumer Product Safety ActF) C) and D)
G) B) and C)

Question 15

The factors that drive competition include

Accepted Answer

A)   monopolistic competition, cross-market competition, entry, and the bargaining power of buyers and suppliers.
B)   cross-market competition, entry, the bargaining power of buyers and suppliers, and substitution possibilities.
C)   monopolistic competition, cross-market competition, bargaining power of buyers and suppliers, existing rivalries.
D)   entry, the bargaining power of buyers and suppliers, existing rivalries, and substitution possibilities.
E)   cross-market competition, entry, bargaining power of buyers and suppliers, substitution possibilities.F) A) and D)
G) B) and E)

Question 16

Which of the following statements regarding the Geek Squad is most accurate?

Accepted Answer

A)   Men who need help from the Geek Squad do not want women "Geeks" to help them because it makes them feel inferior.
B)   The Geek Squad has exclusive rights to the home-help segment thanks to their relationship with Best Buy.
C)   The Geek Squad can only assist customers who purchase Dell Computers.
D)   The need for the Geek Squad was the result of many environmental factors, not simply a need for technological knowledge.
E)   Although the Geek Squad brought more customers into Best Buy, the rate of product returns has only dropped a negligible amount.F) A) and E)
G) D) and E)

Question 17

A software manufacturer will only sell its popular line of Pokémon software games to retailers who will also carry its less successful Hello Kitty software game. This is an example of

Accepted Answer

A)   exclusive dealing.
B)   a tying arrangement.
C)   a selective promotion contract.
D)   an exclusive territorial distributorship.
E)   a requirement contractF) A) and D)
G) B) and E)

Question 18

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

Accepted Answer

A)   the gray market
B)   baby busters
C)   Generation X
D)   the baby boomerang
E)   millennialsF) A) and E)
G) D) and E)

Question 19

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 20

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Accepted Answer

A)   electronic commerce.
B)   internet barter.
C)   intranet exchange.
D)   electronic exchange.
E)   extranet trade.F) B) and E)
G) A) and B)

Exam 3: Scanning the Marketing Environment

Income used to buy luxury items such as a voyage aboard the Queen Mary 2 offered by Cunard referred to as

Correct Answer
verified

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

Correct Answer
verified

Projections show that the population is

Correct Answer
verified

All of the following federal laws are designed to protect consumers except which?

Correct Answer
verified

Correct Answer
verified

Competition refers to

Correct Answer
verified

The factors that drive competition include

Correct Answer
verified

A software manufacturer will only sell its popular line of Pokémon software games to retailers who will also carry its less successful Hello Kitty software game. This is an example of

Correct Answer
verified

Because there are few sellers, price competition among firms is avoided in which form of competition?

Correct Answer
verified

In 2002, Geek Squad was purchased by leading retailer

Correct Answer
verified

Correct Answer
verified

Baby boomers can be defined as the generation born

Correct Answer
verified

Competitive pressures among existing firms depend on

Correct Answer
verified

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Correct Answer
verified

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Correct Answer
verified

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as

Correct Answer
verified

Though definitions are inconsistent, Generation Y, and especially its younger members, are frequently associated with

Correct Answer
verified

The 50 million people born between 1965 and 1980, a period also known as the baby bust, are referred to as

Correct Answer
verified

Which of the following statements regarding the Geek Squad is most accurate?

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

Exam 3: Scanning the Marketing Environment

Income used to buy luxury items such as a voyage aboard the Queen Mary 2 offered by Cunard referred to as

Correct AnswerverifiedShow Answer

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

Correct AnswerverifiedShow Answer

Projections show that the population is

Correct AnswerverifiedShow Answer

All of the following federal laws are designed to protect consumers except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Competition refers to

Correct AnswerverifiedShow Answer

The factors that drive competition include

Correct AnswerverifiedShow Answer

A software manufacturer will only sell its popular line of Pokémon software games to retailers who will also carry its less successful Hello Kitty software game. This is an example of

Correct AnswerverifiedShow Answer

Because there are few sellers, price competition among firms is avoided in which form of competition?

Correct AnswerverifiedShow Answer

In 2002, Geek Squad was purchased by leading retailer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Baby boomers can be defined as the generation born

Correct AnswerverifiedShow Answer

Competitive pressures among existing firms depend on

Correct AnswerverifiedShow Answer

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Correct AnswerverifiedShow Answer

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Correct AnswerverifiedShow Answer

The description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation is referred to as

Correct AnswerverifiedShow Answer

Though definitions are inconsistent, Generation Y, and especially its younger members, are frequently associated with

Correct AnswerverifiedShow Answer

The 50 million people born between 1965 and 1980, a period also known as the baby bust, are referred to as

Correct AnswerverifiedShow Answer

Which of the following statements regarding the Geek Squad is most accurate?

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

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