Question 1

Microsoft,Intuit,and Yahoo are building new facilities in Quincy,WA,a town that previously had a population of 3,500.Along with these new neighbors,the residents of Quincy are also going to get more traffic lights,a strip mall,higher housing prices,and new jobs.This example best illustrates a(n) __________ change that will impact the people and businesses of Quincy.

Accepted Answer

A)  social
B)  regulatory
C)  competitive
D)  economic
E)  technologicalF) A) and C)
G) All of the above

Question 2

Baby boomers are an important target market because they (their)

Accepted Answer

A)  workforce participation has made them the wealthiest generation in U.S.history,accounting for an estimated 50 percent of all consumer spending.
B)  include most of the important business leaders in the United States.
C)  represent a small proportion of the population but have large disposable incomes.
D)  have the longest life expectancies,remaining an active participant in the marketplace for a long time.
E)  will be able to pass along significant wealth to their children,the generation that will succeed them.F) A) and C)
G) All of the above

Question 3

Geek Squad set out to provide timely and effective help with all computing needs regardless of the make,model,or place of purchase.Employees were called "agents" and wore uniforms with a Geek Squad logo to create a "humble" attitude that was not threatening to customers.Agents drove a black-and-white

Accepted Answer

A)  Chrysler Neon.
B)  Ford Focus.
C)  Volkswagen Beetle.
D)  Dodge Caravan.
E)  Toyota Prius.F) C) and E)
G) A) and D)

Question 4

The __________ makes it unlawful to discriminate in prices charged to different purchasers of the same product,where the effect may substantially lessen competition or help to create a monopoly.

Accepted Answer

A)  Fair Trade Act
B)  Clayton Act
C)  Lanham Act
D)  Robinson-Patman Act
E)  Unfair Practices ActF) A) and E)
G) A) and D)

Question 5

Inventions or innovations from applied science or engineering research are referred to as

Accepted Answer

A)  scientific discoveries.
B)  theoretical development.
C)  technology.
D)  patents.
E)  dynamic engineering.F) B) and E)
G) A) and D)

Question 6

Last year,the Parker family used to eat at nice restaurants almost four times a week.Even though Mr.Parker received a 2 percent pay raise,the cost of living rose by 4 percent and property taxes went up 5% in their community.As a result,the family now eats most of their meals at home,dining out only a few 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 rise in deflation.
E)  a shift from spending to investing.F) C) and D)
G) B) and D)

Question 7

An important social trend is the continued concern for health and well-being in the United States.This is most likely evidenced by

Accepted Answer

A)  the increased sales of Cigar Aficionado magazine.
B)  First Lady Michelle Obama's Let's Move! initiative to eliminate childhood obesity.
C)  the opening of more Starbucks coffee boutiques in supermarkets.
D)  the upsizing of menu items at fast food restaurants.
E)  the introduction of tablet devices such as the iPad.F) B) and E)
G) C) and D)

Question 8

How has the structure of the American household changed since 1960? In your answer,define the blended family and give an example of a way in which marketers have targeted that group.

Accepted Answer

In 1960,75 percent of all households con...

Question 9

In the 1960s,President Kennedy developed what is known as the Consumer Bill of Rights.This legislation was developed to protect consumers from unscrupulous marketers and guaranteed consumers four fundamental rights,including the right to be informed,the right to choose,the right to be protected,and the right to be heard.Many laws such as these were the results of __________.

Accepted Answer

A)  marketing ethics
B)  self-regulation
C)  cause marketing
D)  consumerism
E)  NaderismF) A) and B)
G) C) and D)

Question 10

The pricing component of the marketing mix is the focus of regulation from two perspectives:

Accepted Answer

A)  quantity discounts and price gouging.
B)  price fixing and price discounting.
C)  promotional allowances and trade allowances.
D)  selling and bartering.
E)  competitive pricing and illegal bartering.F) None of the above
G) A) and C)

Question 11

The changes in coffee consumption are due to all of the following EXCEPT:

Accepted Answer

A)  McDonald's has recently started selling bags of ground coffee in some of its stores.
B)  Coffee marketers like Caribou Coffee are offering new flavors and seasonal blends.
C)  The decreased use of Fair Trade certified coffee due to the added expenses incurred as a result of certification and farmer subsidies.
D)  Coffee shops are using new machines to automate the brewing and dispensing of coffee.
E)  Supermarkets such as Safeway have added Starbucks coffee boutiques within their stores.F) B) and D)
G) A) and D)

Question 12

The purpose of the Robinson-Patman Act is to

Accepted Answer

A)  outlaw price discrimination for purchasers of the same product.
B)  encourage pure competition.
C)  protect inventors from having their intellectual property stolen.
D)  repeal the Sherman Antitrust Act.
E)  provide incentives for interstate commerce.F) A) and D)
G) B) and C)

Question 13

The demographic characteristics of the population and its values are referred to as

Accepted Answer

A)  attitudinal forces.
B)  psychographic forces.
C)  social forces.
D)  cultural forces.
E)  market forces.F) A) and E)
G) All of the above

Question 14

The money a consumer has left after paying taxes to use for necessities such as food,shelter,clothing,and transportation is referred to as __________.

Accepted Answer

A)  net income
B)  disposable income
C)  discretionary income
D)  household income
E)  gross incomeF) A) and B)
G) All of the above

Question 15

For millennials,environmental sustainability means __________.

Accepted Answer

A)  engaging in free market economics with fair but limited regulations to manage exchange relationships
B)  social responsibility,or having organizations being accountable to society for their actions
C)  exploiting a nation's natural resources for the betterment of its society
D)  executing a "drill baby drill" strategy regarding oil and natural gas exploration to make the United States energy independent
E)  seeking "brown" jobs in agriculture that emphasize economies of scale in farming and ranchingF) B) and E)
G) B) and D)

Question 16

The purpose of copyright law is to

Accepted Answer

A)  provide incentives for increased competition.
B)  give inventors the right to exclude others from making,using,or selling products that infringe the patented invention.
C)  level the playing field between inventors who work for large corporations and those who work on their own.
D)  guarantee the quality and safety of any product produced or distributed in the United States.
E)  give an author of a literary,dramatic,musical,or artistic work the exclusive right to print,perform,or otherwise copy that work.F) B) and E)
G) C) and E)

Question 17

Before displaying the BBB Accredited Business logo on their websites,participating companies must: (1) be members of their local Better Business Bureau; (2) have been in business for at least one year; (3) have agreed to participate in BBB's advertising self-regulation program; (4) agree to abide by the BBB Code of Business Practices;and (5)

Accepted Answer

A)  actively recruit other firms in their industry to become BBB members.
B)  guarantee their customers the best quality,price,and service at all times.
C)  use the products and services of fellow BBB members whenever possible.
D)  pay a yearly registration fee based on a sliding scale of the previous year's profits.
E)  work with the BBB to resolve consumer disputes that arise over goods or services promoted or advertised on their site.F) A) and E)
G) C) and D)

Question 18

The name given to the generational cohort who are described as self-reliant,supportive of racial and ethnic diversity,and better educated than previous generations is __________.

Accepted Answer

A)  Generation Z
B)  Generation Y
C)  millennials
D)  Generation X
E)  baby boomersF) D) and E)
G) All of the above

Question 19

Any activity that uses some form of electronic communication in the inventory,exchange,advertisement,distribution,and payment of goods and services is referred to as __________.

Accepted Answer

A)  electronic commerce
B)  Internet barter
C)  intranet commerce
D)  electronic exchange
E)  extranet commerceF) A) and B)
G) C) and D)

Question 20

Carl and Nancy Johnson prepared a household budget in an attempt to manage their money better.As part of their budgeting process,Carl and Nancy prepared the following list: Monthly Income (after taxes) = $4,500;Monthly Expenses (Necessities) ,which include Rent: $550,Auto Loan: $250,Student Loan: $200,Savings: $500,Food: $200;Total Monthly Expenses = $1,700;Amount Left Over = $2,800.After totaling their necessary expenses,which equals $1,700,Carl and Nancy subtracted that amount from their monthly income of $4,500.The Johnsons were happy to realize that they had $2,800 left over,which is their __________.

Accepted Answer

A)  gross income
B)  personal income
C)  disposable income
D)  discretionary income
E)  profitF) A) and D)
G) A) and B)

Exam 3: Scanning the Marketing Environment

Correct Answer
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How has the structure of the American household changed since 1960? In your answer,define the blended family and give an example of a way in which marketers have targeted that group.

Correct Answer
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In 1960,75 percent of all households con...
View Answer

Correct Answer
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Correct Answer
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The pricing component of the marketing mix is the focus of regulation from two perspectives:

Correct Answer
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For millennials,environmental sustainability means __________.

Correct Answer
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The purpose of copyright law is to

Correct Answer
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Any activity that uses some form of electronic communication in the inventory,exchange,advertisement,distribution,and payment of goods and services is referred to as __________.

Correct Answer
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Correct Answer
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Baby boomers are an important target market because they (their)

Correct Answer
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Correct Answer
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The __________ makes it unlawful to discriminate in prices charged to different purchasers of the same product,where the effect may substantially lessen competition or help to create a monopoly.

Correct Answer
verified

Inventions or innovations from applied science or engineering research are referred to as

Correct Answer
verified

Correct Answer
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The changes in coffee consumption are due to all of the following EXCEPT:

Correct Answer
verified

The demographic characteristics of the population and its values are referred to as

Correct Answer
verified

The purpose of the Robinson-Patman Act is to

Correct Answer
verified

The money a consumer has left after paying taxes to use for necessities such as food,shelter,clothing,and transportation is referred to as __________.

Correct Answer
verified

An important social trend is the continued concern for health and well-being in the United States.This is most likely evidenced by

Correct Answer
verified

The name given to the generational cohort who are described as self-reliant,supportive of racial and ethnic diversity,and better educated than previous generations is __________.

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Correct AnswerverifiedShow Answer

How has the structure of the American household changed since 1960? In your answer,define the blended family and give an example of a way in which marketers have targeted that group.

Correct AnswerverifiedIn 1960,75 percent of all households con...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The pricing component of the marketing mix is the focus of regulation from two perspectives:

Correct AnswerverifiedShow Answer

For millennials,environmental sustainability means __________.

Correct AnswerverifiedShow Answer

The purpose of copyright law is to

Correct AnswerverifiedShow Answer

Any activity that uses some form of electronic communication in the inventory,exchange,advertisement,distribution,and payment of goods and services is referred to as __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Baby boomers are an important target market because they (their)

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The __________ makes it unlawful to discriminate in prices charged to different purchasers of the same product,where the effect may substantially lessen competition or help to create a monopoly.

Correct AnswerverifiedShow Answer

Inventions or innovations from applied science or engineering research are referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The changes in coffee consumption are due to all of the following EXCEPT:

Correct AnswerverifiedShow Answer

The demographic characteristics of the population and its values are referred to as

Correct AnswerverifiedShow Answer

The purpose of the Robinson-Patman Act is to

Correct AnswerverifiedShow Answer

The money a consumer has left after paying taxes to use for necessities such as food,shelter,clothing,and transportation is referred to as __________.

Correct AnswerverifiedShow Answer

An important social trend is the continued concern for health and well-being in the United States.This is most likely evidenced by

Correct AnswerverifiedShow Answer

The name given to the generational cohort who are described as self-reliant,supportive of racial and ethnic diversity,and better educated than previous generations is __________.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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In 1960,75 percent of all households con...
View Answer

Correct Answer
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