mkt 230 - chapter 3

Consumer confidence and willingness to spend begins to increase during periods of ________________________ , and marketers must remain very flexible to make the necessary adjustments. Select one: a. recovery b. recession c. prosperity d. growth e. depression

a

Discretionary income is associated with all of the following except Select one: a. food. b. furniture. c. education. d. automobiles. e. pets.

a

Of all the federal regulatory units, the _____________________ most heavily influences marketing activities. Select one: a. Federal Trade Commission (FTC) b. Federal Communications Commission (FCC) c. Environmental Protection Agency (EPA) d. Food and Drug Administration (FDA) e. Federal Power Commission (FPC)

a

The FTC can issue a cease-and-desist order, which is an injunction to Select one: a. stop doing whatever caused the complaint. b. pay for damages caused by negligence of the firm. c. close down the firm until further notice. d. report to the FTC immediately. e. appear before the courts.

a

Which of the following is not at the generic competitor level for Ford's Expedition sport utility vehicle? Select one: a. Ford's Escape SUV b. Harley Davidson motorcycle c. Schwinn mountain bike d. Enterprise car rental e. Taxi cab ride

a

The Better Business Bureau is probably the best-known Select one: a. federal regulatory group. b. nongovernmental regulatory group. c. state-operated enforcement agency. d. national evaluator of advertisements. e. self-regulatory unit operating at the national level.

b

Three primary methods of collecting information for environmental scanning are Select one: a. company database, executive knowledge, and research. b. observation, secondary sources, and marketing research. c. secondary sources, company records, and observation d. executive knowledge, media, and marketing research. e. marketing research, company records, and advance orders.

b

What type of competitive structure exists when a firm produces a product that has no close substitutes? Select one: a. Oligopoly b. Monopoly c. Monopolistic competition d. Pure competition e. Mixed competition

b

Which of the following firms would be most likely to have a monopoly for its competitive environment? Select one: a. Rogers Plumbing b. Charter Cable TV c. Mitchell Trucking d. Chemlawn Lawn Care e. American Airlines

b

Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of economic Select one: a. recovery. b. uncertainty. c. recession. d. prosperity. e. expansion.

c

The four major competitive structures are Select one: a. pure competition, heavy competition, and pure competition. b. monopolies, limited competition, oligopolistic competition, and pure competition. c. oligopolies, monopolies, monopolistic competition, and pure competition. d. monopolies, oligopolies, oligopolistic monopolies, and pure competition. e. brand, product, total budget, and generic.

c

Which of the following actions is illegal? Select one: a. Corporate contributions to candidates. b. Political officials influencing how much a government agency purchases and from whom. c. Paying political officials not to enforce a particular law. d. Political officials helping businesses secure foreign markets. e. Corporate contributions to elected officials

c

A person's buying power is a function of Select one: a. wages, rents, and investments. b. past income, natural resources, and financial resources. c. discretionary income. d. income, wealth, and credit. e. disposable income.

d

Assuming that inflation is low, high buying power characterizes the ____________ stage of the business cycle. Select one: a. recession b. depression c. recovery d. prosperity e. succession

d

Procompetitive laws are those designed to Select one: a. ensure product safety. b. limit business lobbying of government officials. c. protect the consumer. d. preserve competition. e. reduce competition.

d

The Classic Hotel Group has begun to offer entire floors of rooms in its hotels that are smoke-free, adults-only, and pet-friendly. The Classic Hotel Group is responding to changes in Select one: a. the legal environment. b. demographics. c. cultural diversity. d. cultural values. e. customer demands

d

While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) _______ approach to marketing environmental forces. Select one: a. variable b. negative c. inactive d. reactive e. proactive

d

By the turn of the twentieth century, the population of the United States had shifted to three large racial and ethnic groups. These groups are Select one: a. Asians, African-Americans, and Caucasians. b. Asians, African-Americans, and Hispanics. c. African-Americans, Native American Indians, and Caucasians. d. Hispanics, Native-American Indians, and Caucasians. e. African-Americans, Hispanics, and Caucasians.

e

Marketers primarily focus their environmental analysis on __________________ competitors. Select one: a. product b. total budget c. generic d. monopolistic e. brand

e

Which category of income are marketers most interested in? Select one: a. Wealth b. Extra income c. Discretionary income d. Total income e. Disposable income

e