Question 1

The General Electric "strategic planning grid" relies on subjective judgments about business strengths and industry attractiveness.

Accepted Answer

A) True 
 B)False

Question 2

The portion of all Dell laptop computers sold in the United States as compared to all laptops sold in the United States in the same period is referred to as

Accepted Answer

A)  market share.
B)  marketing analytics.
C)  competitor analysis.
D)  market penetration.
E)  acquisition cost.F) A) and E)
G) B) and C)

Question 3

A first step in evaluating marketing opportunities is to

Accepted Answer

A)  decide which markets the firm wishes to enter.
B)  consider the objectives and resources of the firm.
C)  hire a "futurist" as a marketing consultant.
D)  estimate market and sales potentials.
E)  find out if potential competitors are larger.F) A) and E)
G) B) and E)

Question 4

When the competitive environment moves toward pure competition,producers offer very different products that consumers do not perceive as substitutes for each other.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following countries has the lowest literacy rate?

Accepted Answer

A)  United Kingdom
B)  Italy
C)  Bangladesh
D)  France
E)  EgyptF) A) and C)
G) C) and E)

Question 6

Gross domestic product includes foreign income earned in a country.

Accepted Answer

A) True 
 B)False

Question 7

Why would it be important for a marketing manager to track market share?

Accepted Answer

A)  to monitor how well a product is doing in a particular market
B)  to assess progress against competitive rivals
C)  to compare how market share changes over time
D)  to understand the product's share of the market in different geographic regions
E)  All these answers are correct.F) A) and C)
G) D) and E)

Question 8

Which of the following statements about population density and population growth is NOT correct?

Accepted Answer

A)  Population density is important to marketers.
B)  In Ethiopia,more than 85 percent of people live in urban areas.
C)  People everywhere are moving from rural areas to urban areas.
D)  Population is very spread out in many of the African countries.
E)  The population growth rate is higher in the United States than in China.F) B) and C)
G) A) and B)

Question 9

Generation Z refers to those born

Accepted Answer

A)  between 1965 and 1977.
B)  since 1995.
C)  between 1946 and 1964.
D)  in the generation immediately following the Baby Boom.E) B) and C)
F) A) and D)

Question 10

Which of the following statements regarding the current legal environment facing U.S.marketing managers is true?

Accepted Answer

A)  State and local laws vary but contain important regulations.
B)  Food and drugs are now controlled.
C)  Product safety is now controlled.
D)  Businesses and individual managers are subject to both criminal and civil laws.
E)  All these answers are correct.F) A) and D)
G) B) and E)

Question 11

Most changes in the cultural and social environment come slowly.

Accepted Answer

A) True 
 B)False

Question 12

The recent interest in physical fitness has forced producers of food,clothing,and other products to reconsider their marketing strategies.Which of the following does this trend illustrate?

Accepted Answer

A)  economic and technological environments
B)  cultural and social environment
C)  existing business situation
D)  political and legal environment
E)  resources and objectives of the firmF) B) and E)
G) B) and C)

Question 13

Which of the following represents a monopolistic competition?

Accepted Answer

A)  One firm completely controls a broad product-market.
B)  Each competitor tries to get control in its "own" target market.
C)  Competitors offer the same marketing mix.
D)  Different marketing mixes are nevertheless seen as the same by all customers.
E)  All customers view various alternatives as substitutes.F) A) and E)
G) None of the above

Question 14

When evaluating opportunities,quantitative screening criteria help a manager decide what kind of opportunities to pursue.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following countries is likely to see a population decline from 2013 to 2025?

Accepted Answer

A)  Germany
B)  Canada
C)  United States
D)  United Kingdom
E)  ChinaF) A) and B)
G) A) and C)

Question 16

Interest rates usually decrease during periods of inflation.

Accepted Answer

A) True 
 B)False

Question 17

What is the first and most important question to ask when evaluating product-market opportunities?

Accepted Answer

A)  "How does it fit with our objectives and resources?"
B)  "What is the sales forecast for this product?"
C)  "How much profit will we make this year?"
D)  "How much do we need to invest in this product?"
E)  "How far along is our research and development effort in this area?"F) D) and E)
G) B) and E)

Question 18

In international markets,marketing managers usually have an easier time understanding the variables in the market environment.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following was likely an effect of the unification of European markets?

Accepted Answer

A)  Many of the taxes and rules that had limited trade among member countries of the European Union were eliminated.
B)  The need to adjust strategies to reach submarkets of European consumers disappeared.
C)  Firms operating in Europe had more difficulty obtaining access to large markets.
D)  Consumer prices rose and job opportunities became limited.
E)  The unification complicated inter-European commerce and trade directly.F) A) and B)
G) A) and C)

Question 20

Which of the following observations is NOT true of monopolistic competition?

Accepted Answer

A)  A number of different firms offer marketing mixes that at least some customers see as different.
B)  Marketing managers try to differentiate very similar products by relying on other elements of the marketing mix.
C)  Each competitor tries to get a monopoly in its own target market.
D)  Most marketing managers in developed economies do not face monopolistic competition.
E)  Competition exists because some customers see various alternatives as substitutes.F) B) and D)
G) A) and B)

Exam 3: Evaluating Opportunities in the Changing Market Environment

Which of the following countries is likely to see a population decline from 2013 to 2025?

Correct AnswerverifiedShow Answer

What is the first and most important question to ask when evaluating product-market opportunities?

Correct AnswerverifiedShow Answer

Why would it be important for a marketing manager to track market share?

Correct AnswerverifiedShow Answer

The recent interest in physical fitness has forced producers of food,clothing,and other products to reconsider their marketing strategies.Which of the following does this trend illustrate?

Correct AnswerverifiedShow Answer

The portion of all Dell laptop computers sold in the United States as compared to all laptops sold in the United States in the same period is referred to as

Correct AnswerverifiedShow Answer

In international markets,marketing managers usually have an easier time understanding the variables in the market environment.

Correct AnswerverifiedShow Answer

Which of the following was likely an effect of the unification of European markets?

Correct AnswerverifiedShow Answer

Which of the following represents a monopolistic competition?

Correct AnswerverifiedShow Answer

Generation Z refers to those born

Correct AnswerverifiedShow Answer

The General Electric "strategic planning grid" relies on subjective judgments about business strengths and industry attractiveness.

Correct AnswerverifiedShow Answer

Gross domestic product includes foreign income earned in a country.

Correct AnswerverifiedShow Answer

Interest rates usually decrease during periods of inflation.

Correct AnswerverifiedShow Answer

Which of the following statements regarding the current legal environment facing U.S.marketing managers is true?

Correct AnswerverifiedShow Answer

When the competitive environment moves toward pure competition,producers offer very different products that consumers do not perceive as substitutes for each other.

Correct AnswerverifiedShow Answer

Which of the following observations is NOT true of monopolistic competition?

Correct AnswerverifiedShow Answer

Which of the following statements about population density and population growth is NOT correct?

Correct AnswerverifiedShow Answer

Which of the following countries has the lowest literacy rate?

Correct AnswerverifiedShow Answer

When evaluating opportunities,quantitative screening criteria help a manager decide what kind of opportunities to pursue.

Correct AnswerverifiedShow Answer

A first step in evaluating marketing opportunities is to

Correct AnswerverifiedShow Answer

Most changes in the cultural and social environment come slowly.

Correct AnswerverifiedShow Answer

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