Question 1

In many geographic areas,there is only a single provider for gas and electric service for businesses and consumers.However,the government regulates that firm to ensure price protection for the buyer.This is an example of

Accepted Answer

A)  pure competition.
B)  a pure monopoly.
C)  an oligopoly.
D)  monopolistic competition.
E)  a megopoly.

Question 2

Value consciousness refers to

Accepted Answer

A)  the difference between perceived value and actual value of a product or service.
B)  a fear of being subliminally influenced by marketing actions such as advertisements,endorsements,etc.
C)  a desire to pay the least amount possible for a product or service that meets minimum performance requirements.
D)  the concern for obtaining the best quality,features,and performance of a product or service for a given price.
E)  the concern for obtaining the best product or service regardless of the cost.

Question 3

To assist marketers in gathering data on the population,the U.S.Census Bureau has developed a classification system to describe the varying locations of the population.The system consists of two types of __________.

Accepted Answer

A)  geometric areas
B)  zip code areas
C)  statistical areas
D)  geodemographic areas
E)  residential areas

Question 4

Which of the following statements is most accurate?

Accepted Answer

A)  Racial and ethnic groups are equally dispersed throughout the U.S.
B)  Racial and ethnic groups do not respond to multicultural marketing programs since they are similar to Caucasians in terms of their attitudes and behaviors.
C)  Organizations that target racial and ethnic groups tend to separate their multicultural marketing efforts from their regional marketing activities.
D)  Racial and ethnic groups tend to be concentrated in various geographic regions in the U.S.
E)  Due to the "melting pot" effect,racial and ethnic groups in the U.S.tend to have very similar attitudes,communication preferences,and lifestyles because they have been effectively assimilated within the population.

Question 5

In marketing,the form of competition that occurs when only one firm sells the product is referred to as __________.

Accepted Answer

A)  pure competition
B)  a megopoly
C)  an oligopoly
D)  monopolistic competition
E)  pure monopoly

Question 6

The U.S.Census Bureau uses a classification system that reflects the varying locations of the population.The largest of these geographical areas is called

Accepted Answer

A)  megapolitan statistical areas.
B)  statistical areas.
C)  combined statistical areas.
D)  zip codes.
E)  metropolitan statistical areas

Question 7

Most specifically,if a consumer's __________ increases,s/he is able to take advantage of the luxurious vacation travel opportunities offered on the Queen Mary,a cruise liner operated by Cunard and depicted in the ad above.

Accepted Answer

A)  savings rate
B)  gross income
C)  taxes
D)  discretionary income
E)  disposable income

Question 8

The Department of Labor monitors consumer expenditures through its annual __________.

Accepted Answer

A)  Consumer Price Index
B)  Consumer Confidence Index
C)  Consumer Expenditure Survey
D)  Index of Consumer Sentiment
E)  National Consumer Spending Survey

Question 9

Today,__________ of all Americans live in central cities,__________ live in suburbs,and __________ live in rural locations.

Accepted Answer

A)  30%;30%;40%
B)  20%;50%;30%
C)  50%;30%;20%
D)  20%;30%;50%
E)  30%;50%;20%

Question 10

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 Act

Question 11

The Infant Formula Act,the Nutritional Labeling and Education Act,and the Fair Packaging and Labeling Act are all examples of

Accepted Answer

A)  product-oriented legislation.
B)  pricing-related legislation.
C)  distribution-related legislation.
D)  requirement contracts.
E)  fair trade legislation.

Question 12

The U.S.Securities and Exchange Commission has designated just nine credit-rating agencies as "nationally recognized statistical rating organizations" (NRSROs) ,which include Moody's,Standard & Poor's,and Fitch Ratings.These agencies provide opinions on the creditworthiness of other entities and the financial obligations issued by them.Because so few companies can compete in it,the credit-rating industry would be considered a(n)

Accepted Answer

A)  mega monopoly.
B)  oligopoly.
C)  pure competition.
D)  monopolistic competition.
E)  monopoly,

Question 13

Self-regulation refers to

Accepted Answer

A)  governmental guidelines that suggests what is legal and ethical and what is not.
B)  a self-imposed set of rules set by a specific industry watchdog group that dictates legal and ethical behaviors.
C)  an alternative to government control where an industry attempts to police itself.
D)  voluntary compliance to governmental rules and regulations set for a specific industry.
E)  a set of rules created and enforced by the FTC to which all members of an industry voluntarily agree to comply.

Question 14

Which of the following trends identified in an environmental scan is a regulatory trend?

Accepted Answer

A)  3D printing and on-demand capabilities are creating a resurgence in domestic manufacturing.
B)  Partnerships,collaborations,and co-creation of value will become important dimensions of business rivalry.
C)  The U.S. ,Japan,China,and the E.U.countries will increase investments in sustainable living infrastructure.
D)  Health consciousness will lead to more public and private smoke-free area laws.
E)  Consumers are increasingly switching media (up to 27 times per hour) as they search for short,engaging messages.

Question 15

The Prudential ad shown above is targeted at which generational cohort?

Accepted Answer

A)  echo-boomers
B)  Generation Xers
C)  Generation Yers
D)  baby boomers
E)  baby busters

Question 16

Which generational cohort is part of the graying of America? Describe the interests and lifestyles of this cohort and why it is important to marketers.

Accepted Answer

Today,there are approximately 40 million...

Question 17

Oil prices have an impact on transportation costs for many types of products.Should oil prices change,the price consumers pay for products often is adjusted accordingly.Changing oil prices would be an example of a(n) __________ force.

Accepted Answer

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

Question 18

Technology refers to

Accepted Answer

A)  any device or process based on scientific discoveries that are less than one year old.
B)  any mechanical device used in the production or distribution of a product.
C)  only those inventions or innovations from applied science that are used to generate a profit.
D)  ideas or concepts that will one day be translated into useable devices,mechanisms,or processes.
E)  the inventions or innovations from applied science or engineering research.

Question 19

By 2050,the world's population is expected to be __________.

Accepted Answer

A)  5.0 billion
B)  5.7 billion
C)  6.1 billion
D)  7.9 billion
E)  9.6 billion

Question 20

Demographics characteristics that describe a population include all of the following EXCEPT:

Accepted Answer

A)  income.
B)  age.
C)  occupation.
D)  zip code.
E)  ethnicity.

Exam 3: Scanning the Marketing Environment

Technology refers to

Correct Answer
verified

The U.S.Census Bureau uses a classification system that reflects the varying locations of the population.The largest of these geographical areas is called

Correct Answer
verified

Oil prices have an impact on transportation costs for many types of products.Should oil prices change,the price consumers pay for products often is adjusted accordingly.Changing oil prices would be an example of a(n) __________ force.

Correct Answer
verified

Which generational cohort is part of the graying of America? Describe the interests and lifestyles of this cohort and why it is important to marketers.

Correct Answer
verified
Today,there are approximately 40 million...
View Answer

The Prudential ad shown above is targeted at which generational cohort?

Correct Answer
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Which of the following statements is most accurate?

Correct Answer
verified

To assist marketers in gathering data on the population,the U.S.Census Bureau has developed a classification system to describe the varying locations of the population.The system consists of two types of __________.

Correct Answer
verified

In many geographic areas,there is only a single provider for gas and electric service for businesses and consumers.However,the government regulates that firm to ensure price protection for the buyer.This is an example of

Correct Answer
verified

Which of the following trends identified in an environmental scan is a regulatory trend?

Correct Answer
verified

Today, of all Americans live in central cities, live in suburbs,and __ live in rural locations.

Correct Answer
verified

The Department of Labor monitors consumer expenditures through its annual __________.

Correct Answer
verified

The Infant Formula Act,the Nutritional Labeling and Education Act,and the Fair Packaging and Labeling Act are all examples of

Correct Answer
verified

By 2050,the world's population is expected to be __________.

Correct Answer
verified

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

Correct Answer
verified

Demographics characteristics that describe a population include all of the following EXCEPT:

Correct Answer
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In marketing,the form of competition that occurs when only one firm sells the product is referred to as __________.

Correct Answer
verified

Value consciousness refers to

Correct Answer
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Self-regulation refers to

Correct Answer
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Correct Answer
verified

Most specifically,if a consumer's __________ increases,s/he is able to take advantage of the luxurious vacation travel opportunities offered on the Queen Mary,a cruise liner operated by Cunard and depicted in the ad above.

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Technology refers to

Correct AnswerverifiedShow Answer

The U.S.Census Bureau uses a classification system that reflects the varying locations of the population.The largest of these geographical areas is called

Correct AnswerverifiedShow Answer

Oil prices have an impact on transportation costs for many types of products.Should oil prices change,the price consumers pay for products often is adjusted accordingly.Changing oil prices would be an example of a(n) __________ force.

Correct AnswerverifiedShow Answer

Which generational cohort is part of the graying of America? Describe the interests and lifestyles of this cohort and why it is important to marketers.

Correct AnswerverifiedToday,there are approximately 40 million...View AnswerShow Answer

The Prudential ad shown above is targeted at which generational cohort?

Correct AnswerverifiedShow Answer

Which of the following statements is most accurate?

Correct AnswerverifiedShow Answer

To assist marketers in gathering data on the population,the U.S.Census Bureau has developed a classification system to describe the varying locations of the population.The system consists of two types of __________.

Correct AnswerverifiedShow Answer

In many geographic areas,there is only a single provider for gas and electric service for businesses and consumers.However,the government regulates that firm to ensure price protection for the buyer.This is an example of

Correct AnswerverifiedShow Answer

Which of the following trends identified in an environmental scan is a regulatory trend?

Correct AnswerverifiedShow Answer

Today,__________ of all Americans live in central cities,__________ live in suburbs,and __________ live in rural locations.

Correct AnswerverifiedShow Answer

The Department of Labor monitors consumer expenditures through its annual __________.

Correct AnswerverifiedShow Answer

The Infant Formula Act,the Nutritional Labeling and Education Act,and the Fair Packaging and Labeling Act are all examples of

Correct AnswerverifiedShow Answer

By 2050,the world's population is expected to be __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Demographics characteristics that describe a population include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

In marketing,the form of competition that occurs when only one firm sells the product is referred to as __________.

Correct AnswerverifiedShow Answer

Value consciousness refers to

Correct AnswerverifiedShow Answer

Self-regulation refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Most specifically,if a consumer's __________ increases,s/he is able to take advantage of the luxurious vacation travel opportunities offered on the Queen Mary,a cruise liner operated by Cunard and depicted in the ad above.

Correct AnswerverifiedShow Answer

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Today,there are approximately 40 million...
View Answer

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Today, of all Americans live in central cities, live in suburbs,and __ live in rural locations.

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