Question 1

By 2050, the world's population is expected to exceed

Accepted Answer

A)   2 billion.
B)   3 billion.
C)   5 billion.
D)   6 billion.
E)   9 billion.F) A) and E)
G) A) and B)

Question 2

In terms of competitive forces, powerful buyers exist when

Accepted Answer

A)   there are many buyers.
B)   the product represents a small share of the buyer's total costs.
C)   switching costs are low.
D)   the product is critical to the buyer.
E)   preemptive practices exist.F) B) and D)
G) C) and D)

Question 3

What is the difference between a patent and a copyright? Digital technology has required what additional recent legislation?

Accepted Answer

A patent gives inventors of new and nove...

Question 4

Which of the following is the purpose of the Clayton Act?

Accepted Answer

A)   provide incentives for interstate commerce
B)   forbid actions that are likely to lessen competition, although no actual harm has yet occurred
C)   exact compensation from firms found guilty of violating fair trade practices
D)   repeal provisions of the Sherman Antitrust Act that stifled innovation
E)   strengthen the Robinson-Patman ActF) A) and B)
G) C) and D)

Question 5

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 is referred to as a

Accepted Answer

A)   micropolitan statistical area.
B)   metropolitan statistical area.
C)   consolidated metropolitan statistical area.
D)   megapolitan statistical area.
E)   metropolitan division.F) B) and E)
G) A) and E)

Question 6

Which of the following is a demographic trends that has significant implications to global marketers?

Accepted Answer

A)   the declining populations in Latin American countries
B)   the large and growing markets in India and China
C)   the tripling of the population of consumers under 40 years old
D)   the decreasing interest in entrepreneurship in developing countries
E)   the lack of savings of elderly populations in developed countriesF) A) and B)
G) A) and C)

Question 7

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks ________, it was prepared for this shift in its marketing environment.

Accepted Answer

A)   optimized its distribution by adding local outlets in grocery stores
B)   noticed the change in the demographics of coffee and tea drinkers in general
C)   added more in-store displays
D)   shifted funds from product development to advertising
E)   tracked, as part of its ongoing environmental scanning activities, the percentage of households with single cup brewersF) C) and D)
G) B) and E)

Question 8

Trader Joe's recently filed an opposition against a company applying to trademark the name "Trader Schmo." Why should Trader Joe's rigorously protect its trademarked name?

Accepted Answer

A)   Trader Joe's risks losing its status as a generic retail grocer.
B)   In order to maintain the use of its widely recognizable trademark, Trader Joe's must prevent its name (or too similar a name)  from being used by others.
C)   The Robinson-Patman Act conferred ownership of the "Trader" name and other trademarked property to Trader Joe's.
D)   The government will file charges for trademark infringement only if Trader Joe's, the owner of the trademark, has documented proof of wrongdoing by Trader Schmo.
E)   By protecting its trademark, Trader Joe's is protecting the entire retail grocery industry from indirect competition.F) C) and E)
G) All of the above

Question 9

Leah had an excellent year as a salesperson in 2019, earning $98,000. She paid $38,000 for necessities such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. What was her disposable income?

Accepted Answer

A)   $36,000
B)   $74,000
C)   $60,000
D)   $98,000
E)   There is not enough data provided to calculate her discretionary income.F) C) and E)
G) D) and E)

Question 10

Some industries have opted for self-regulation of their members to ensure that each acts fairly. Discuss potential problems associated with self-regulation, and give an example of it.

Accepted Answer

An alternative to government control is ...

Question 11

The Madrid Protocol is

Accepted Answer

A)   a method of registering a trademark with language adaptations for different countries.
B)   the criteria for collectively seeking a trademark for an entire industry in Spain.
C)   a form of national branding, e.g., "Chilean Sea Bass."
D)   a treaty that facilitates the protection of U.S. trademark rights throughout the world.
E)   an agreement to stop piracy of noncopyrighted products abroad.F) All of the above
G) B) and C)

Question 12

The U.S. government has threatened to increase tariffs on European luxury automobiles because of a trade imbalance between the United States and the European Union. For American automakers like GM and Ford, this action would reflect

Accepted Answer

A)   a reactive strategy that would harm the technological environmental force.
B)   a proactive maneuver to manipulate the social environmental force.
C)   a positive result from regulatory environmental forces.
D)   a positive response to a technological environmental force.
E)   a negative impact as a result of adverse competitive, regulatory, and technological environmental forces.F) A) and D)
G) A) and C)

Question 13

The form of competition where just a few companies control the majority of industry sales is referred to as

Accepted Answer

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

Question 14

For millennials, "positive business" involvement means

Accepted Answer

A)   engaging in free market economics with fair but limited regulations to manage exchange relationships.
B)   being part of a movement that balances the interests of shareholders, employees, and society.
C)   exploiting a nation's natural resources for the betterment of its society.
D)   seeking advanced jobs in agriculture that emphasize economies of scale in farming and ranching.
E)   executing an aggressive strategy regarding oil and natural gas exploration to make the United States energy independent.F) None of the above
G) A) and B)

Question 15

Though online ________ may provide consumers with more targeted digital advertising, some are concerned about privacy issues.

Accepted Answer

A)   espionage
B)   confidentiality
C)   tracking
D)   clickbotting
E)   spammingF) C) and D)
G) B) and E)

Question 16

Remote suburbs are called

Accepted Answer

A)   exurbs.
B)   ruralia.
C)   outstate residential.
D)   subdivisions.
E)   minor statistical areas.F) A) and D)
G) C) and E)

Question 17

According to some predictions regarding attitudes and the roles of men and women, which of the following is most likely to occur?

Accepted Answer

A)   The attitudes of men toward women will change more dramatically than the attitudes of women toward men.
B)   The attitudes of women toward men will change more dramatically than the attitudes of men toward women.
C)   The buying habits of women will become much more predictable than those of men.
D)   The gap between buying patterns of men and women will grow.
E)   The gap between buying patterns of men and women will diminish.F) None of the above
G) A) and B)

Question 18

The economy is defined as

Accepted Answer

A)   the independent financial factors that are not affected by changes in government spending.
B)   the purchase of the highest quality product for the lowest possible price.
C)   the production, distribution, and consumption of products, services, and ideas by households.
D)   the income, expenditures, and resources that affect the cost of running a business and household.
E)   the forces within a manufacturer's control that affect the demand and supply of its offerings.F) None of the above
G) B) and E)

Question 19

List the five environmental forces that have an impact on an organization as well as its suppliers and customers. Provide examples of factors that might be examined as part of environmental scanning for each of these forces.

Accepted Answer

The following environmental forces have ...

Question 20

Many changes in the environment occurred to create the need for the services of Best Buy's Geek Squad. Future changes are also likely to change the way Geek Squad operates. An environmental scan helps illustrate the changes. What are some of the key changes that are occurring?

Accepted Answer

According to Best Buy CEO, Hubert Joly, ...

Exam 3: Scanning the Marketing Environment

Which of the following is the purpose of the Clayton Act?

Correct AnswerverifiedShow Answer

By 2050, the world's population is expected to exceed

Correct AnswerverifiedShow Answer

The form of competition where just a few companies control the majority of industry sales is referred to as

Correct AnswerverifiedShow Answer

For millennials, "positive business" involvement means

Correct AnswerverifiedShow Answer

Trader Joe's recently filed an opposition against a company applying to trademark the name "Trader Schmo." Why should Trader Joe's rigorously protect its trademarked name?

Correct AnswerverifiedShow Answer

The economy is defined as

Correct AnswerverifiedShow Answer

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 is referred to as a

Correct AnswerverifiedShow Answer

Some industries have opted for self-regulation of their members to ensure that each acts fairly. Discuss potential problems associated with self-regulation, and give an example of it.

Correct AnswerverifiedAn alternative to government control is ...View AnswerShow Answer

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks ________, it was prepared for this shift in its marketing environment.

Correct AnswerverifiedShow Answer

The U.S. government has threatened to increase tariffs on European luxury automobiles because of a trade imbalance between the United States and the European Union. For American automakers like GM and Ford, this action would reflect

Correct AnswerverifiedShow Answer

Though online ________ may provide consumers with more targeted digital advertising, some are concerned about privacy issues.

Correct AnswerverifiedShow Answer

Remote suburbs are called

Correct AnswerverifiedShow Answer

Which of the following is a demographic trends that has significant implications to global marketers?

Correct AnswerverifiedShow Answer

What is the difference between a patent and a copyright? Digital technology has required what additional recent legislation?

Correct AnswerverifiedA patent gives inventors of new and nove...View AnswerShow Answer

The Madrid Protocol is

Correct AnswerverifiedShow Answer

According to some predictions regarding attitudes and the roles of men and women, which of the following is most likely to occur?

Correct AnswerverifiedShow Answer

List the five environmental forces that have an impact on an organization as well as its suppliers and customers. Provide examples of factors that might be examined as part of environmental scanning for each of these forces.

Correct AnswerverifiedThe following environmental forces have ...View AnswerShow Answer

In terms of competitive forces, powerful buyers exist when

Correct AnswerverifiedShow Answer

Leah had an excellent year as a salesperson in 2019, earning $98,000. She paid $38,000 for necessities such as mortgage, food, and clothing. Her state and federal income taxes totaled $24,000. What was her disposable income?

Correct AnswerverifiedShow Answer

Many changes in the environment occurred to create the need for the services of Best Buy's Geek Squad. Future changes are also likely to change the way Geek Squad operates. An environmental scan helps illustrate the changes. What are some of the key changes that are occurring?

Correct AnswerverifiedAccording to Best Buy CEO, Hubert Joly, ...View AnswerShow Answer

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An alternative to government control is ...
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A patent gives inventors of new and nove...
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Correct Answer
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The following environmental forces have ...
View Answer

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According to Best Buy CEO, Hubert Joly, ...
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