Question 1

When a firm or business displays the Better Business Bureau (BBB) Accredited Business logo on its store window or website,it assures consumers that

Accepted Answer

A)  the company's products comply with current safety standards set by the Consumer Product Safety Commission.
B)  it is a member of a voluntary alliance of companies whose goal is to help maintain fair business practices.
C)  the firm has met the standards for qualification as a green marketing firm.
D)  the firm takes a proactive stance on diversity in the workplace.
E)  the company incorporates sustainable business practices.F) A) and D)
G) A) and B)

Question 2

Approximately one in __________ U.S.residents is African American,American Indian or Alaska Native,Asian American,or Native Hawaiian/Pacific Islander.

Accepted Answer

A)  ten
B)  seven
C)  five
D)  three
E)  twoF) A) and B)
G) A) and C)

Question 3

The best-known self-regulatory group is the __________,which is a voluntary alliance of companies whose goal is to help maintain fair practices.

Accepted Answer

A)  U.S.Department of Justice
B)  National Chamber of Commerce
C)  Better Business Bureau
D)  Federal Trade Commission
E)  National Federation of Independent BusinessF) B) and E)
G) A) and E)

Question 4

The Lanham Act cannot protect the rights to a trademark if

Accepted Answer

A)  the company is accused of violating the Sherman Antitrust Act.
B)  the product patent is less than 17 years old.
C)  the word,name,or symbol has become generic.
D)  the statute of limitations has run out.
E)  the government refuses to enforce violations.F) B) and D)
G) D) and E)

Question 5

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed.This is an example of how __________ forces help improve or replace existing products and companies.

Accepted Answer

A)  ecological
B)  regulatory
C)  legal
D)  competitive
E)  technologicalF) C) and D)
G) B) and C)

Question 6

Would you expect tablet device (iPad)industry to be highly competitive? Provide support for your answer using the three components of competition.

Accepted Answer

(1)Entry-Barriers to entry are business ...

Question 7

Barriers to entry include capital requirements,costs to customers of switching suppliers,advertising expenditures,and

Accepted Answer

A)  personnel shortages.
B)  distribution access.
C)  field of experience.
D)  inventory deficits.
E)  prior enterprise failures.F) A) and B)
G) B) and C)

Question 8

The purpose of the national Do Not Call Registry is to

Accepted Answer

A)  prevent manufacturers from being deluged with customer complaints during business hours.
B)  separate listed from unlisted phone numbers in telephone books and online information directories.
C)  divert enquiries from manufacturers to their suppliers that are ultimately responsible for product distribution.
D)  remove identification codes from mobile phones and tablet devices that would identify them as customers as well as their locations.
E)  protect consumers from unsolicited telemarketing calls.F) A) and E)
G) A) and B)

Question 9

The term that pertains to the income,expenditures,and resources that affect the cost of running a business or household is referred to as (the) __________.

Accepted Answer

A)  banking
B)  economy
C)  finances
D)  budgeting
E)  money managementF) All of the above
G) A) and C)

Question 10

Consumers are buying hybrid gas-electric automobiles such as the Toyota Prius.This is an example of which of the following cultural values?

Accepted Answer

A)  Preserving the environment
B)  Paying the least amount possible for products
C)  Reducing inequality among competing brands
D)  Believing in fate
E)  Reducing cognitive dissonanceF) A) and D)
G) D) and E)

Question 11

If a metropolitan statistical area contains a population of 2.5 million or more,it may be subdivided into smaller areas called __________.

Accepted Answer

A)  population subdivisions
B)  metroplex divisions
C)  metropolitan divisions
D)  combined divisions
E)  statistical divisionsF) C) and E)
G) C) and D)

Question 12

Generational marketing refers to

Accepted Answer

A)  the process of continually acquiring information on different age groups to identify and interpret potential trends.
B)  the factors that represent both the objective and subjective attributes of a brand Generations X and Y use to compare different products and brands.
C)  the distinct phases that a generational cohort progresses through from family formation to retirement,each phase bringing with it identifiable purchasing behaviors.
D)  the sequence of stages a buyer of each generational cohort goes through from initial awareness of a product to its trial or adoption.
E)  different marketing programs developed for each generational cohort due to each group's distinctive attitudes and behaviors.F) All of the above
G) D) and E)

Question 13

Studies of the __________ characteristics of the U.S.population suggest that it is becoming larger,older,and more diverse.

Accepted Answer

A)  cultural
B)  psychographic
C)  geographic
D)  demographic
E)  economicF) B) and D)
G) None of the above

Question 14

Buying a book at www.amazon.com to give as a birthday present is an example of a(n) __________ transaction.

Accepted Answer

A)  i-market
B)  intranet
C)  electronic commerce
D)  extranet
E)  marketplaceF) A) and E)
G) A) and B)

Question 15

A mother bought what she thought was a large box of un-sweetened cereal.It was the same 22 oz size as other brands whose boxes clearly marked.However,when she opened the box it was barely ¾ full.The Fair Packaging and Labeling Act would not protect her unless

Accepted Answer

A)  the package printed the disclaimer that the product might settle during shipping.
B)  the package states that the contents should be purchased by weight rather than by volume.
C)  the package clearly states 22 oz.on the front but the actual weight of the contents was only 16 oz.
D)  the package lists all the ingredients including the total amount of sugar.
E)  an identical package by the same manufacturer had the exact same amount inside.F) B) and D)
G) C) and D)

Question 16

A metropolitan statistical area refers to

Accepted Answer

A)  a statistical area that has at least one urban cluster of at least 10,000 but less than 50,000 people and adjacent territory that has a high degree of social and economic integration.
B)  a statistical area of 2.5 million people or more.
C)  a cluster of exurbs that function as a single unit due to the proximity of their geographic locations to an urbanized area.
D)  a highly urbanized area with a centrally located population of at least 1,000,000 people.
E)  a statistical area of at least one urbanized area of 50,000 or more people and adjacent territory that has a high degree of social and economic integration.F) A) and B)
G) D) and E)

Question 17

If a major food company offered supermarket chains special prices and incentives to carry its brand of frozen vegetables and not to carry competing brands,it could be accused of __________ and would be subject to prosecution if its actions substantially reduce competition.

Accepted Answer

A)  requirement contracting
B)  a tying arrangement
C)  a territorial infringement
D)  a monopolistic practice
E)  exclusive dealingF) A) and D)
G) None of the above

Question 18

Emily had an excellent year as a salesperson in 2011,earning $97,000.She paid $17,000 for "necessities" such as mortgage,food,and clothing.Her state and federal income taxes totaled $24,000.What was her discretionary income?

Accepted Answer

A)  $41,000
B)  $56,000
C)  $65,000
D)  $73,000
E)  There is not enough data provided to calculate her discretionary income.F) A) and C)
G) C) and D)

Question 19

Members of Generation Y are most likely to influence

Accepted Answer

A)  children's designer clothing lines.
B)  health care and insurance.
C)  retirement plans.
D)  video games.
E)  automobile design.F) D) and E)
G) A) and B)

Question 20

Today,seven of the top ten cities are located __________.

Accepted Answer

A)  along the east coast
B)  near the Canadian border
C)  along the west coast
D)  near the Mexican border
E)  within the central "fly over" region of the U.S.F) D) and E)
G) None of the above

Exam 3: Scanning the Marketing Environment

Barriers to entry include capital requirements,costs to customers of switching suppliers,advertising expenditures,and

Correct AnswerverifiedShow Answer

A mother bought what she thought was a large box of un-sweetened cereal.It was the same 22 oz size as other brands whose boxes clearly marked.However,when she opened the box it was barely ¾ full.The Fair Packaging and Labeling Act would not protect her unless

Correct AnswerverifiedShow Answer

The term that pertains to the income,expenditures,and resources that affect the cost of running a business or household is referred to as (the) __________.

Correct AnswerverifiedShow Answer

If a major food company offered supermarket chains special prices and incentives to carry its brand of frozen vegetables and not to carry competing brands,it could be accused of __________ and would be subject to prosecution if its actions substantially reduce competition.

Correct AnswerverifiedShow Answer

Studies of the __________ characteristics of the U.S.population suggest that it is becoming larger,older,and more diverse.

Correct AnswerverifiedShow Answer

Members of Generation Y are most likely to influence

Correct AnswerverifiedShow Answer

Today,seven of the top ten cities are located __________.

Correct AnswerverifiedShow Answer

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed.This is an example of how __________ forces help improve or replace existing products and companies.

Correct AnswerverifiedShow Answer

Generational marketing refers to

Correct AnswerverifiedShow Answer

Would you expect tablet device (iPad)industry to be highly competitive? Provide support for your answer using the three components of competition.

Correct Answerverified(1)Entry-Barriers to entry are business ...View AnswerShow Answer

The best-known self-regulatory group is the __________,which is a voluntary alliance of companies whose goal is to help maintain fair practices.

Correct AnswerverifiedShow Answer

The purpose of the national Do Not Call Registry is to

Correct AnswerverifiedShow Answer

Buying a book at www.amazon.com to give as a birthday present is an example of a(n) __________ transaction.

Correct AnswerverifiedShow Answer

Approximately one in __________ U.S.residents is African American,American Indian or Alaska Native,Asian American,or Native Hawaiian/Pacific Islander.

Correct AnswerverifiedShow Answer

Emily had an excellent year as a salesperson in 2011,earning $97,000.She paid $17,000 for "necessities" such as mortgage,food,and clothing.Her state and federal income taxes totaled $24,000.What was her discretionary income?

Correct AnswerverifiedShow Answer

If a metropolitan statistical area contains a population of 2.5 million or more,it may be subdivided into smaller areas called __________.

Correct AnswerverifiedShow Answer

A metropolitan statistical area refers to

Correct AnswerverifiedShow Answer

Consumers are buying hybrid gas-electric automobiles such as the Toyota Prius.This is an example of which of the following cultural values?

Correct AnswerverifiedShow Answer

The Lanham Act cannot protect the rights to a trademark if

Correct AnswerverifiedShow Answer

When a firm or business displays the Better Business Bureau (BBB) Accredited Business logo on its store window or website,it assures consumers that

Correct AnswerverifiedShow Answer

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(1)Entry-Barriers to entry are business ...
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