Question 1

The Clayton Act is NOT concerned with:

Accepted Answer

A)   product warranties.
B)   price discrimination by manufacturers.
C)   exclusive dealing contracts.
D)   tying contracts.
E)   encouraging competition.F) A) and C)
G) B) and E)

Question 2

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) None of the above
G) A) and B)

Question 3

The competitive environment affects the number and types of competitors the marketing manager must face and how they may behave.

Accepted Answer

A) True 
 B)False

Question 4

GE's planning grid approach

Accepted Answer

A)   doesn't work because different managers usually come to different conclusions given the subjective evaluations involved.
B)   is really the same thing as the total profit approach.
C)   overemphasizes short term profitability.
D)   is superficial because it considers only size and expected market share, and ignores other possibly important factors.
E)   could be adapted easily by another firm with different objectives.F) B) and C)
G) B) and E)

Question 5

The cultural and social environment refers to where people live and their income.

Accepted Answer

A) True 
 B)False

Question 6

Regarding the competitive environment, a marketing manager usually can:

Accepted Answer

A)   choose strategies to avoid head-on competition.
B)   control it with the help of the legal environment.
C)   control it in the short run.
D)   control it with the help of the political environment.
E)   control it in the long run.F) C) and D)
G) A) and B)

Question 7

With General Electric's strategic planning grid:

Accepted Answer

A)   the industry attractiveness dimension focuses on the ability of the company to pursue a product-market plan effectively.
B)   managers must follow an objective, single-factor approach.
C)   the business strengths dimension focuses on whether this product-market plan looks like a good idea.
D)   managers make three-part judgments about the business strengths and industry attractiveness of all proposed or existing product-market plans.
E)   opportunities that fall into the red boxes are the firm's best growth opportunities.F) None of the above
G) D) and E)

Question 8

Compared to some countries in Latin America, the rate of inflation in the U.S. is low.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following newspaper headlines would be LEAST likely to involve the political environment?

Accepted Answer

A)   U.S.-Vietnamese Joint Ventures in the Future.
B)   Egg Sales Fall as Consumers Switch to Low Cholesterol Diets.
C)   U.S. Signs Trade Agreement with Venezuela.
D)   FDA Adopts New Regulations for Generic Drugs.
E)   Consumers Urged to "Buy American."F) B) and E)
G) A) and E)

Question 10

Which of the following statements about the competitive environment is FALSE?

Accepted Answer

A)   Competition-free environments are rare.
B)   Marketing managers should choose strategies that avoid head-on competition.
C)   A firm that has a marketing mix that its target market sees as better than its competitors' has a competitive advantage.
D)   Over the long run, most product-markets tend toward monopolistic competition.
E)   In a competitor analysis, the firm's first step should be to identify all potential competitors.F) B) and C)
G) A) and B)

Question 11

A mission statement

Accepted Answer

A)   should never be revised.
B)   sets out the organization's basic purpose for being.
C)   should embrace everything rather than focus on a few key goals.
D)   substitutes for more specific objectives.
E)   supplies guidelines for general situations but not for situations where managers face difficult decisions.F) A) and B)
G) D) and E)

Question 12

If the risks of getting into international marketing are difficult to evaluate, it usually is best to start with a joint venture.

Accepted Answer

A) True 
 B)False

Question 13

Competitive barriers

Accepted Answer

A)   facilitate cooperation among competitors.
B)   may make it difficult for a firm to compete in a market.
C)   refer to legal constraints on importing.
D)   are the weaknesses in a competitor's strategy.
E)   are a firm's closest competitors.F) B) and D)
G) A) and E)

Question 14

A marketing manager may ethically and actively seek information about current or potential competitors by

Accepted Answer

A)   searching a firm's public website.
B)   waiting at a landfill for competitors' trash to find copies of confidential company reports.
C)   using computer "hackers" to break into a competitor's computer network.
D)   hiring people from competing firms and then asking them confidential information about the competitor.
E)   spying on competitors to obtain trade secrets.F) B) and C)
G) B) and E)

Question 15

The state with the largest percentage increase in population between 2000 and 2010 is:

Accepted Answer

A)   New York
B)   Nevada
C)   Illinois
D)   South Dakota
E)   MichiganF) A) and B)
G) A) and C)

Question 16

Countries where gross national income (GNI) per capita is low do not offer any opportunities for marketers.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements about world population trends is true?

Accepted Answer

A)   In general, countries that have higher stages of development experience faster rates of growth than less-developed countries.
B)   The extent to which a country's population is clustered around urban areas does not vary much from country to country.
C)   People are moving from rural areas into urban areas.
D)   The trend toward urbanization has made companies less interested in international markets.
E)   All of these statements about world population trends are true.F) B) and C)
G) A) and E)

Question 18

The "continuum of environmental sensitivity" suggests that:

Accepted Answer

A)   some products are more adaptable to international markets than others.
B)   it is extremely risky to sell basic commodities in international markets.
C)   industrial products need to be adapted more than consumer products for international markets.
D)   All of these statements about the continuum of environmental sensitivity are true.E) A) and D)
F) A) and B)

Question 19

Regarding gross domestic product (GDP)  and gross national income (GNI) :

Accepted Answer

A)   GDP income measures can give the impression that people in less-developed nations have more income than they really do.
B)   GDP includes foreign income earned in a country, but GNI does not.
C)   Both GDP and GNI are widely used measures of national income.
D)   GDP and GNI are highest in the more developed industrial nations.
E)   All of these alternatives are true.F) B) and E)
G) All of the above

Question 20

Technology provides new opportunities and new challenges for marketers.

Accepted Answer

A) True 
 B)False

Exam 3: Evaluating Opportunities in the Changing Marketing Environment

With General Electric's strategic planning grid:

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Technology provides new opportunities and new challenges for marketers.

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The Clayton Act is NOT concerned with:

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Compared to some countries in Latin America, the rate of inflation in the U.S. is low.

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The "continuum of environmental sensitivity" suggests that:

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If the risks of getting into international marketing are difficult to evaluate, it usually is best to start with a joint venture.

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Which of the following newspaper headlines would be LEAST likely to involve the political environment?

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Which of the following statements about world population trends is true?

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Regarding gross domestic product (GDP) and gross national income (GNI) :

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A widely used measure of income in most countries is:

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Competitive barriers

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A mission statement

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The competitive environment affects the number and types of competitors the marketing manager must face and how they may behave.

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The state with the largest percentage increase in population between 2000 and 2010 is:

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Which of the following statements about the competitive environment is FALSE?

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A marketing manager may ethically and actively seek information about current or potential competitors by

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Countries where gross national income (GNI) per capita is low do not offer any opportunities for marketers.

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GE's planning grid approach

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The cultural and social environment refers to where people live and their income.

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Regarding the competitive environment, a marketing manager usually can:

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