Question 1

A company can protect its competitive position under __________, which gives inventors of new and novel products the right to exclude others from making, using, or selling products that infringe on the invention.

Accepted Answer

A)  copyright law
B)  patent law
C)  trademark law
D)  commercial law
E)  antitrust lawF) A) and D)
G) D) and E)

Question 2

Olay, a cosmetics firm, offers anti-aging and restoration products targeted toward

Accepted Answer

A)  echo-boomers.
B)  Generation Z.
C)  Generation Y.
D)  baby boomers.
E)  baby busters.F) A) and C)
G) A) and B)

Question 3

Marketspace refers to

Accepted Answer

A)  the two-way buyer-seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller.
B)  websites that allow people to congregate online and exchange views on topics of common interest.
C)  Internet search engines used for the purpose of data mining.
D)  an information- and communication-based electronic exchange environment occupied by sophisticated computer and telecommunication technologies and digital offerings.
E)  the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online.F) A) and D)
G) D) and E)

Question 4

The changes in __________ has a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Accepted Answer

A)  automobile prices
B)  fuel prices
C)  the number of people competing for jobs
D)  consumer confidence
E)  home valuesF) A) and B)
G) A) and C)

Question 5

Generation X consumers are

Accepted Answer

A)  likely to rely on others.
B)  authoritative decision makers.
C)  very prone to extravagance.
D)  generally supportive of racial and ethnic diversity.
E)  poorly educated.F) B) and C)
G) B) and D)

Question 6

A sudden drop in the average consumer income would be an example of which environmental force?

Accepted Answer

A)  economic
B)  competitive
C)  technological
D)  social
E)  regulatoryF) A) and B)
G) A) and C)

Question 7

All of the following federal laws are designed to protect consumers except

Accepted Answer

A)  Consumer Product Safety Act.
B)  FTC Act of 1914.
C)  Nutritional Labeling and Education Act.
D)  Digital Millennium Copyright Act.
E)  Child Protection Act.F) All of the above
G) B) and D)

Question 8

All of the following factors contribute significantly to the rate of change of a country's population except

Accepted Answer

A)  life expectancy (the average number of years a population lives from birth) .
B)  immigration (the number of people who enter a country for the purpose of permanent residence) .
C)  population density (defined as the total number of people per square mile/kilometer) .
D)  birthrate (the number of births during a specified time period) .
E)  death rate (the number of deaths during a specified time period) .F) B) and D)
G) B) and C)

Question 9

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

Accepted Answer

A)  273 million.
B)  314 million.
C)  323 million.
D)  359 million.
E)  414 million.F) A) and B)
G) B) and E)

Question 10

Explain marketspace and its relevance for marketing.

Accepted Answer

The transformative power of technology m...

Question 11

Define technology. How does it affect marketing?

Accepted Answer

Technology refers to inventions or innov...

Question 12

When compared to Generation X, members of Generation Y are most likely to influence

Accepted Answer

A)  children's designer clothing lines.
B)  health care and insurance.
C)  all forms of communication and networking.
D)  retirement plans.
E)  automobile design.F) B) and D)
G) All of the above

Question 13

There are only three major recording labels in the world-Sony Music Entertainment, Time Warner's Warner Music Group, and GE's Universal Music Group. They are responsible for the vast majority of music recordings that are made. Harry says that these three music companies operate as an oligopoly. Maryanne says that they operate as monopolistic competition. Explain how each came to his or her conclusion. Who is correct?

Accepted Answer

Monopolistic competition occurs when man...

Question 14

Competition refers to

Accepted Answer

A)  identical products that perform identical functions.
B)  any for-profit organization that targets the customers of other organizations.
C)  alternative firms that could provide a product to satisfy a specific market's needs.
D)  any product or service that vies for a portion of a customer's discretionary income.
E)  the set of firms that operate in a given geographic region, regardless of product or service.F) None of the above
G) B) and D)

Question 15

Green technologies such as smart grid electricity services, online energy management, and consumer-generated energy are __________ forces that would be identified through an environmental scan.

Accepted Answer

A)  social
B)  competitive
C)  regulatory
D)  technological
E)  economicF) C) and E)
G) C) and D)

Question 16

AT&T, Verizon, Sprint, and T-Mobile serve more than 95 percent of the subscribers in the U.S. wireless mobile phone market. Which form of competition characterizes this market?

Accepted Answer

A)  pure competition
B)  limited competition
C)  a monopoly
D)  an oligopoly
E)  monopolistic competitionF) A) and B)
G) A) and C)

Question 17

At the U.S. Census Bureau, gross income is referred to as

Accepted Answer

A)  buying power.
B)  cash inflow.
C)  fiscal power.
D)  money income.
E)  household income.F) C) and D)
G) B) and E)

Question 18

Which generational cohort is often referred to as the echo-boom or baby boomlet? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Accepted Answer

The generational cohort labeled Generati...

Question 19

Explain the trends in the racial and ethnic composition of the United States. How can marketers use this information?

Accepted Answer

By 2030, the Hispanic population will gr...

Question 20

How does technology affect customer value?

Accepted Answer

Technological forces affect customer val...

Exam 3: Scanning the Marketing Environment

Olay, a cosmetics firm, offers anti-aging and restoration products targeted toward

Correct Answer
verified

Explain marketspace and its relevance for marketing.

Correct Answer
verified
The transformative power of technology m...
View Answer

Which generational cohort is often referred to as the echo-boom or baby boomlet? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Correct Answer
verified
The generational cohort labeled Generati...
View Answer

Explain the trends in the racial and ethnic composition of the United States. How can marketers use this information?

Correct Answer
verified
By 2030, the Hispanic population will gr...
View Answer

Generation X consumers are

Correct Answer
verified

Competition refers to

Correct Answer
verified

Correct Answer
verified
Monopolistic competition occurs when man...
View Answer

A sudden drop in the average consumer income would be an example of which environmental force?

Correct Answer
verified

AT&T, Verizon, Sprint, and T-Mobile serve more than 95 percent of the subscribers in the U.S. wireless mobile phone market. Which form of competition characterizes this market?

Correct Answer
verified

The changes in __________ has a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct Answer
verified

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

Correct Answer
verified

All of the following factors contribute significantly to the rate of change of a country's population except

Correct Answer
verified

How does technology affect customer value?

Correct Answer
verified
Technological forces affect customer val...
View Answer

Marketspace refers to

Correct Answer
verified

At the U.S. Census Bureau, gross income is referred to as

Correct Answer
verified

When compared to Generation X, members of Generation Y are most likely to influence

Correct Answer
verified

All of the following federal laws are designed to protect consumers except

Correct Answer
verified

Define technology. How does it affect marketing?

Correct Answer
verified
Technology refers to inventions or innov...
View Answer

Green technologies such as smart grid electricity services, online energy management, and consumer-generated energy are __________ forces that would be identified through an environmental scan.

Correct Answer
verified

A company can protect its competitive position under __________, which gives inventors of new and novel products the right to exclude others from making, using, or selling products that infringe on the invention.

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Olay, a cosmetics firm, offers anti-aging and restoration products targeted toward

Correct AnswerverifiedShow Answer

Explain marketspace and its relevance for marketing.

Correct AnswerverifiedThe transformative power of technology m...View AnswerShow Answer

Which generational cohort is often referred to as the echo-boom or baby boomlet? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Correct AnswerverifiedThe generational cohort labeled Generati...View AnswerShow Answer

Explain the trends in the racial and ethnic composition of the United States. How can marketers use this information?

Correct AnswerverifiedBy 2030, the Hispanic population will gr...View AnswerShow Answer

Generation X consumers are

Correct AnswerverifiedShow Answer

Competition refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedMonopolistic competition occurs when man...View AnswerShow Answer

A sudden drop in the average consumer income would be an example of which environmental force?

Correct AnswerverifiedShow Answer

AT&T, Verizon, Sprint, and T-Mobile serve more than 95 percent of the subscribers in the U.S. wireless mobile phone market. Which form of competition characterizes this market?

Correct AnswerverifiedShow Answer

The changes in __________ has a psychological impact on consumers who tend to spend more when they feel their net worth is rising and postpone purchases when it declines.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

All of the following factors contribute significantly to the rate of change of a country's population except

Correct AnswerverifiedShow Answer

How does technology affect customer value?

Correct AnswerverifiedTechnological forces affect customer val...View AnswerShow Answer

Marketspace refers to

Correct AnswerverifiedShow Answer

At the U.S. Census Bureau, gross income is referred to as

Correct AnswerverifiedShow Answer

When compared to Generation X, members of Generation Y are most likely to influence

Correct AnswerverifiedShow Answer

All of the following federal laws are designed to protect consumers except

Correct AnswerverifiedShow Answer

Define technology. How does it affect marketing?

Correct AnswerverifiedTechnology refers to inventions or innov...View AnswerShow Answer

Green technologies such as smart grid electricity services, online energy management, and consumer-generated energy are __________ forces that would be identified through an environmental scan.

Correct AnswerverifiedShow Answer

A company can protect its competitive position under __________, which gives inventors of new and novel products the right to exclude others from making, using, or selling products that infringe on the invention.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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The transformative power of technology m...
View Answer

Correct Answer
verified
The generational cohort labeled Generati...
View Answer

Correct Answer
verified
By 2030, the Hispanic population will gr...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Monopolistic competition occurs when man...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Technological forces affect customer val...
View Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Technology refers to inventions or innov...
View Answer

Correct Answer
verified

Correct Answer
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