Question 1

Which of the following would help prevent marketing mistakes in evaluating international market opportunities?

Accepted Answer

A)   Assume that all cultures around the world are the same.
B)   Do not "think locally."
C)   Use machine translators.
D)   Include local citizens in the evaluation process.
E)   Save money by cutting research into foreign markets.F) B) and E)
G) A) and D)

Question 2

____ refers to market situation where one firm completely controls a broad product-market.

Accepted Answer

A)   Monopoly
B)   Oligopoly
C)   Pure competition
D)   Monopolistic competition
E)   Collectivist competitionF) A) and C)
G) A) and B)

Question 3

The economic environment:

Accepted Answer

A)   Has no relationship to the technological environment.
B)   Is not affected by the way all of the parts of the macro-marketing system interact.
C)   Is the same from country to country.
D)   Can change very rapidly.
E)   Never requires marketing managers to make immediate changes in strategy.F) B) and E)
G) C) and E)

Question 4

In which of the external environments changes usually occur most slowly?

Accepted Answer

A)   Cultural and social environment
B)   Political and legal environments
C)   Resources and objectives of the firm
D)   Competitive environment
E)   Economic and technological environmentsF) C) and D)
G) B) and D)

Question 5

Attractive opportunities should make use of a firm's resources and its unique strengths.

Accepted Answer

A) True 
 B)False

Question 6

When setting objectives for the whole firm, TOP MANAGEMENT should:

Accepted Answer

A)   involve the marketing manager in the objective setting process.
B)   set objectives that focus on the highest possible immediate profit potential.
C)   stick to general objectives-in order to maintain flexibility.
D)   set objectives beyond what can actually be achieved-so everyone will work harder.
E)   All of these are useful when setting objectives.F) B) and D)
G) A) and C)

Question 7

A widely used measure of income in most countries is:

Accepted Answer

A)   gross national income.
B)   total consumption expenditures.
C)   disposable personal product.
D)   population times GNI.
E)   socio-economic product.F) D) and E)
G) B) and C)

Question 8

Generation Y refers to:

Accepted Answer

A)   those born from 1978-1994.
B)   those born since 1994.
C)   those born from 1965-1997.
D)   those born from 1945-1964.
E)   those born before 1945.F) B) and D)
G) C) and E)

Question 9

The different rates of population growth are important to marketers for all of the following reasons except

Accepted Answer

A)   sudden growth in one area may create a demand for many new shopping centers.
B)   retailers in growing areas face tougher competition for a smaller number of customers.
C)   marketers always look for fast-growing markets.
D)   in growing areas, demand may increase so rapidly that profits may be good even in poorly planned facilities.E) B) and D)
F) B) and C)

Question 10

The Clayton Act deals with tying contracts, exclusive dealing contracts, and price-fixing conspiracies.

Accepted Answer

A) True 
 B)False

Question 11

Gross domestic product:

Accepted Answer

A)   is the total market value of goods, but not services, produced in a year.
B)   is an excellent basis for comparing consumer well-being across different cultures and economies.
C)   is a widely used measure of income for different countries.
D)   is the total market value of services, but not goods, produced in a year.
E)   All of these alternatives are true.F) C) and D)
G) A) and D)

Question 12

American economic and legislative thinking is based on the idea that

Accepted Answer

A)   encouraging competition harms public interest.
B)   competition among many small firms helps the economy.
C)   attempts by business to limit competition aids large firms during recessions.
D)   the economic environment provides a base for the technological environment.
E)   laws should protect companies and not consumers.F) B) and D)
G) C) and E)

Question 13

The median age in the United States increased from 30 in 1980 to 37 in 2010.

Accepted Answer

A) True 
 B)False

Question 14

In the short run at least, which of the following is usually beyond the control of the marketing manager?

Accepted Answer

A)   Political and legal environments.
B)   Economic environment.
C)   Cultural and social environment.
D)   Competitive environment.
E)   All of these environments are beyond the control of the marketing manager in the short run.F) B) and D)
G) B) and E)

Question 15

One way marketers can screen for opportunities that are good for society is to screen based on the criteria of:

Accepted Answer

A)   growth.
B)   profitability.
C)   sustainability.
D)   return on investment.
E)   business strengths.F) B) and E)
G) None of the above

Question 16

In the political environment, an emphasis on a single country's interests before everything else is called:

Accepted Answer

A)   Elitism.
B)   Socialism.
C)   Extremism.
D)   Regionalism.
E)   Nationalism.F) All of the above
G) B) and E)

Question 17

Gross domestic product includes foreign income earned in a country.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following countries have the HIGHEST GNI PER CAPITA?

Accepted Answer

A)   Saudi Arabia and Iran
B)   Mexico and Spain
C)   United States and Switzerland
D)   India and China
E)   Japan and GermanyF) A) and B)
G) A) and C)

Question 19

A firm that is unable to obtain financing to manufacture new products is likely encountering negative pressures from:

Accepted Answer

A)   the competitive environment.
B)   the technological environment.
C)   the economic environment.
D)   the political/legal environment.
E)   the cultural/social environment.F) A) and C)
G) A) and E)

Question 20

Trying to maximize short-run return on investment may not be compatible with a company's other objectives.

Accepted Answer

A) True 
 B)False

Exam 3: Evaluating Opportunities in the Changing Marketing Environment

The economic environment:

Correct AnswerverifiedShow Answer

In which of the external environments changes usually occur most slowly?

Correct AnswerverifiedShow Answer

The different rates of population growth are important to marketers for all of the following reasons except

Correct AnswerverifiedShow Answer

Which of the following would help prevent marketing mistakes in evaluating international market opportunities?

Correct AnswerverifiedShow Answer

The median age in the United States increased from 30 in 1980 to 37 in 2010.

Correct AnswerverifiedShow Answer

____ refers to market situation where one firm completely controls a broad product-market.

Correct AnswerverifiedShow Answer

A widely used measure of income in most countries is:

Correct AnswerverifiedShow Answer

One way marketers can screen for opportunities that are good for society is to screen based on the criteria of:

Correct AnswerverifiedShow Answer

Trying to maximize short-run return on investment may not be compatible with a company's other objectives.

Correct AnswerverifiedShow Answer

In the short run at least, which of the following is usually beyond the control of the marketing manager?

Correct AnswerverifiedShow Answer

Gross domestic product includes foreign income earned in a country.

Correct AnswerverifiedShow Answer

The Clayton Act deals with tying contracts, exclusive dealing contracts, and price-fixing conspiracies.

Correct AnswerverifiedShow Answer

Gross domestic product:

Correct AnswerverifiedShow Answer

American economic and legislative thinking is based on the idea that

Correct AnswerverifiedShow Answer

Generation Y refers to:

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When setting objectives for the whole firm, TOP MANAGEMENT should:

Correct AnswerverifiedShow Answer

Attractive opportunities should make use of a firm's resources and its unique strengths.

Correct AnswerverifiedShow Answer

Which of the following countries have the HIGHEST GNI PER CAPITA?

Correct AnswerverifiedShow Answer

A firm that is unable to obtain financing to manufacture new products is likely encountering negative pressures from:

Correct AnswerverifiedShow Answer

In the political environment, an emphasis on a single country's interests before everything else is called:

Correct AnswerverifiedShow Answer

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