Question 1

The generation of children born to baby boomers, a period of increasing births, is sometimes referred to as a(n)

Accepted Answer

A)  baby boomer.
B)  baby buster.
C)  boomerang.
D)  echo-boom.
E)  bumper.F) B) and D)
G) None of the above

Question 2

Disposable income refers to

Accepted Answer

A)  the money that remains after paying for taxes and necessities.
B)  the money deducted from a person's gross income for Federal, state, and local taxes.
C)  the money a consumer has left after paying taxes to use for food, shelter, clothing, and transportation.
D)  the combined earnings of all members of a single household as identified by Federal tax withholdings.
E)  money that is spent for necessities or charitable causes that is exempt from taxation.F) B) and C)
G) A) and E)

Question 3

Last year the Parker family used to eat at nice restaurants almost four times a week.Even though Mr.Parker got a 5% raise, the cost of living increase this year was 7%.As a result the family eats most of their meals at home, dining out only four times a month.This reflects

Accepted Answer

A)  a decrease in the number of fine restaurants that can stay in business during times of economical downturn.
B)  a reaction to a loss of discretionary income.
C)  a significant drop in disposable income since there was a negative gain in income.
D)  a desire to spend more time together as a family.
E)  a shift from spending to investing.F) B) and D)
G) C) and E)

Question 4

The 15% of the population born between 1965 and 1976, also called the __________ refers to Generation X.

Accepted Answer

A)  unknown generation
B)  baby bust
C)  Generation Y
D)  Generation Z
E)  baby boomersF) C) and D)
G) D) and E)

Question 5

Paul Avery is a salesperson at the only Ford automobile dealership in Wausau, Wisconsin.However, there are several other auto dealerships in town, offering both domestic and foreign cars and trucks.Paul works hard to keep his customers satisfied because he knows that if his customers are unhappy, they can simply buy a car from one of the many other comparable dealers in Wausau.This is an example of

Accepted Answer

A)  pure competition.
B)  monopolistic competition.
C)  an oligopoly.
D)  a monopoly.
E)  incremental competition.F) A) and E)
G) B) and C)

Question 6

The purpose of the __________ is to forbid certain actions that are likely to lessen competition, although no actual harm has yet occurred.

Accepted Answer

A)  Sherman Antitrust Act
B)  Hart-Scott-Rodino Act
C)  Miller-Tydings Act
D)  Celler-Kefauver Antimerger Act
E)  Clayton ActF) B) and C)
G) A) and D)

Question 7

The technology behind the GPS is the use of __________ to triangulate location, speed, direction, and time.

Accepted Answer

A)  a grid of 32 satellites in space
B)  a grid of LAN centers at every degree of latitude
C)  a computer network located at every ten degrees of longitude
D)  a computer network in all major capitols of the world
E)  a series of interconnected web networksF) B) and E)
G) D) and E)

Question 8

Environmental scans have shown that the population of the United States is undergoing dramatic change.Generally the population is becoming larger, older, and more diverse.By 2030, the number of people who are 65 years of age or older could make up 20 percent of the U.S.population.This change in the U.S.population is an example of __________ changes to which marketers must respond.

Accepted Answer

A)  cyclical population growth
B)  psychographic
C)  demographic
D)  situational segment
E)  culturally significantF) C) and E)
G) None of the above

Question 9

There are many diet aids on the market.They promise immediate weight loss without exercise or a change in diet.Each is accompanied by a testimonial from a satisfied user.If you pay close attention, you will notice that each ad also contains the statement, "Results may vary." Most likely, this statement is included to prevent the FTC from requiring the dietary aid distributor from having to

Accepted Answer

A)  run corrective advertising.
B)  engage in competitive advertising.
C)  guarantee truth-in-advertising.
D)  prevent comparative advertising.
E)  engage in self-regulation.F) All of the above
G) C) and E)

Question 10

The Geek Squad wants to __________ by setting up locations in FedEx and Office Depot.

Accepted Answer

A)  create customer value
B)  compete head to head with Fire dog
C)  compete head to head with free standing computer stores
D)  provide 24 hour a day service
E)  reduce personal safety concerns for womenF) A) and B)
G) B) and E)

Question 11

Environmental scanning refers to

Accepted Answer

A)  assessing any possible negative impact a firm's activities might have on the local ecology.
B)  continually acquiring information on events occurring outside the organization to identify and interpret potential threats.
C)  setting up a regimented schedule for assessing the performance of different divisions within a firm.
D)  initiating an internal talent search to identify employees for promotion, who not only do their jobs well, but who can think "outside the box."
E)  requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.F) C) and D)
G) B) and E)

Question 12

There is a greater concern for health and well-being in the United States.This is most likely evidenced by

Accepted Answer

A)  increased sales of Cigar Aficionado magazine.
B)  the revamping of the format for Parents magazine.
C)  the increased number of women in management positions.
D)  the opening of more Starbucks coffee houses.
E)  more advertising for exercise equipment.F) A) and B)
G) A) and C)

Question 13

Younger members of Generation Y are also referred to as

Accepted Answer

A)  Baby boomers.
B)  Baby busters.
C)  Bleeding hearts.
D)  Millennials.
E)  Boomerangs.F) A) and B)
G) A) and C)

Question 14

By 2030 the U.S.population is expected to exceed

Accepted Answer

A)  276 million.
B)  300 million.
C)  325 million.
D)  340 million.
E)  373 million.F) D) and E)
G) B) and C)

Question 15

FIGURE 3-4 
-Figure 3-4 above represents

Accepted Answer

A)  Starbuck's promotional logo that coincides with the release of every new Star Wars movie.
B)  a digitally produced trademark doppleganger.
C)  Starbuck's "going green" emblem warning customers to recycle their paper cups.
D)  an accidental reversal of "live" to "evil" that cost the company over $100,000.00 to correct.
E)  a "knock-off" of the Starbuck's logo that was used in several foreign countries.F) A) and E)
G) A) and B)

Question 16

In an inflationary economy, the cost to produce and buy products and services __________ as prices __________.

Accepted Answer

A)  escalates; increase
B)  escalates; decrease
C)  decreases; increase
D)  decreases; decrease
E)  does not change; increaseF) All of the above
G) A) and E)

Question 17

The first major federal legislation passed to prevent contracts, combinations, or conspiracies in restraint of trade in the United States was the

Accepted Answer

A)  Hart-Scott-Rodino Act.
B)  Sherman Antitrust Act.
C)  Miller-Tydings Act.
D)  Celler-Kefauver Antimerger Act.
E)  Clayton Act.F) B) and C)
G) A) and E)

Question 18

Components of a consumer's income include

Accepted Answer

A)  inflation, recession, and recovery.
B)  salary, wages, commissions, and fees.
C)  gross, disposable, and discretionary incomes.
D)  base salary, income taxes, and property taxes (when applicable) .
E)  liquidity items, liabilities, and assets.F) A) and B)
G) B) and D)

Question 19

Culture includes values, which vary with age groups.Consumers under 20 years old rank __________ as the third most important cultural value.

Accepted Answer

A)  honesty
B)  protecting the family
C)  friendship
D)  self-esteem
E)  health and fitnessF) A) and B)
G) A) and C)

Question 20

Many consumers are committed to brands with a strong link to social action.An example of this would be

Accepted Answer

A)  McDonald's "I'm Lovin It" campaign.
B)  Brita's "Filter for Good" campaign.
C)  Imagine Babyz video game.
D)  Liz Clairborne's "Clairborne for Men."
E)  Samsung's "The Jitterbug."F) None of the above
G) B) and D)

Exam 3: Scanning the Marketing Environment

Last year the Parker family used to eat at nice restaurants almost four times a week.Even though Mr.Parker got a 5% raise, the cost of living increase this year was 7%.As a result the family eats most of their meals at home, dining out only four times a month.This reflects

Correct Answer
verified

The technology behind the GPS is the use of __________ to triangulate location, speed, direction, and time.

Correct Answer
verified

Environmental scanning refers to

Correct Answer
verified

By 2030 the U.S.population is expected to exceed

Correct Answer
verified

Correct Answer
verified

The Geek Squad wants to __________ by setting up locations in FedEx and Office Depot.

Correct Answer
verified

In an inflationary economy, the cost to produce and buy products and services as prices .

Correct Answer
verified

Disposable income refers to

Correct Answer
verified

Many consumers are committed to brands with a strong link to social action.An example of this would be

Correct Answer
verified

There is a greater concern for health and well-being in the United States.This is most likely evidenced by

Correct Answer
verified

Components of a consumer's income include

Correct Answer
verified

The first major federal legislation passed to prevent contracts, combinations, or conspiracies in restraint of trade in the United States was the

Correct Answer
verified

The generation of children born to baby boomers, a period of increasing births, is sometimes referred to as a(n)

Correct Answer
verified

Correct Answer
verified

The 15% of the population born between 1965 and 1976, also called the __________ refers to Generation X.

Correct Answer
verified

Correct Answer
verified

The purpose of the __________ is to forbid certain actions that are likely to lessen competition, although no actual harm has yet occurred.

Correct Answer
verified

FIGURE 3-4 -Figure 3-4 above represents

Correct Answer
verified

Younger members of Generation Y are also referred to as

Correct Answer
verified

Culture includes values, which vary with age groups.Consumers under 20 years old rank __________ as the third most important cultural value.

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Last year the Parker family used to eat at nice restaurants almost four times a week.Even though Mr.Parker got a 5% raise, the cost of living increase this year was 7%.As a result the family eats most of their meals at home, dining out only four times a month.This reflects

Correct AnswerverifiedShow Answer

The technology behind the GPS is the use of __________ to triangulate location, speed, direction, and time.

Correct AnswerverifiedShow Answer

Environmental scanning refers to

Correct AnswerverifiedShow Answer

By 2030 the U.S.population is expected to exceed

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The Geek Squad wants to __________ by setting up locations in FedEx and Office Depot.

Correct AnswerverifiedShow Answer

In an inflationary economy, the cost to produce and buy products and services __________ as prices __________.

Correct AnswerverifiedShow Answer

Disposable income refers to

Correct AnswerverifiedShow Answer

Many consumers are committed to brands with a strong link to social action.An example of this would be

Correct AnswerverifiedShow Answer

There is a greater concern for health and well-being in the United States.This is most likely evidenced by

Correct AnswerverifiedShow Answer

Components of a consumer's income include

Correct AnswerverifiedShow Answer

The first major federal legislation passed to prevent contracts, combinations, or conspiracies in restraint of trade in the United States was the

Correct AnswerverifiedShow Answer

The generation of children born to baby boomers, a period of increasing births, is sometimes referred to as a(n)

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The 15% of the population born between 1965 and 1976, also called the __________ refers to Generation X.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The purpose of the __________ is to forbid certain actions that are likely to lessen competition, although no actual harm has yet occurred.

Correct AnswerverifiedShow Answer

FIGURE 3-4 -Figure 3-4 above represents

Correct AnswerverifiedShow Answer

Younger members of Generation Y are also referred to as

Correct AnswerverifiedShow Answer

Culture includes values, which vary with age groups.Consumers under 20 years old rank __________ as the third most important cultural value.

Correct AnswerverifiedShow Answer

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In an inflationary economy, the cost to produce and buy products and services as prices .

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