Chp 3 MKT 600 Quiz
The role of a company's marketing intermediaries is to do which of the following? A. Provide the resources needed by the company to produce goods and services B. Determine which products a company should market C. Help the company find, promote, sell, and distribute products D. Purchase the company's product E. Manage the company's human resources efforts
Help the company find, promote, sell, and distribute products
Overall, how has the American population changed over time? A. It has become closer knit and more family-oriented. B. It has become more skeptical about marketing schemes. C. It has become more likely to develop brand loyalty. D. It has become wealthier, more cultured, and more frivolous in its spending habits. E. It has become more diverse, better educated, and more mobile
It has become more diverse, better educated, and more mobile
Which of the following BEST describes a duty that would fall under the jurisdiction of the FDA? A. Investigating customer complaints about a business B. Checking the quality of food that is served in school lunches C. Ensuring that pollution standards are met by a company D. Protecting the legal status of a company E. Evaluating whether an advertisement to be aired in public is fitting
. Checking the quality of food that is served in school lunches
From a marketing standpoint, which of the following BEST describes Baby Boomers? A. They constitute a lucrative market for financial services, new housing and home remodeling, new cars, travel and entertainment, eating out, and health and fitness products. B. They are more likely to be receptive to irreverent ad pitches that make fun of convention and tradition. C. They blend the online and offline worlds seamlessly as they socialize and shop. D. They tend to research products before they consider a purchase. E. They are slowing down as they age
A. They constitute a lucrative market for financial services, new housing and home remodeling, new cars, travel and entertainment, eating out, and health and fitness products.
The Fair Packaging and Labeling Act in the United States enforces laws for what reason? A. To protect consumers from fraudulent packaging and labeling B. To protect the public from the unethical actions of big business C. To protect the environment from over pollution by companies D. To protect the interests of society against unrestrained business behavior E. To control trade policies and regulations
A. To protect consumers from fraudulent packaging and labeling
Which of the following identifies a change in the technological environment that could affect the success of a business? A. A company develops a new battery that costs twice as much as its predecessor. B. A company develops a new battery that lasts twice as long as its predecessor. C. A company develops a new warranty that lasts as long as its predecessor. D. A company develops a customer support program that customers rate twice as responsive as the previous program. E. A company packages its product to be twice the size of its predecessor.
B. A company develops a new battery that lasts twice as long as its predecessor.
The Children's Online Privacy Protection Act in the United States enforces laws for what reason? A. Makes deceptive, misleading, and unfair practices illegal regardless of injury to competition B. Prohibits online service operators from collecting personal information from children C. Bans the sale of hazardous toys and articles D. Regulates the distribution of unsolicited commercial e-mail E. Establishes procedures to avoid unwanted telephone solicitations
B. Prohibits online service operators from collecting personal information from children
How does the microenvironment of a company differ from its macroenvironment? A. The microenvironment deals with the big problem, whereas the macroenvironment deals with trivial problems. B. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. C. The microenvironment affects a larger portion of the company than the macroenvironment. D. The microenvironment is company-based, whereas the macroenvironment is customer-based. E. The microenvironment uses more financial resources than the macroenvironment.
B. The microenvironment deals with the company, suppliers, marketing intermediaries, customer markets, competitors, and publics
Numbering 49 million or more, this group of consumers is sometimes overlooked because it is less materialistic than other groups and prizes experience, not acquisition. A. Senior citizens B. Baby boomers C. Generation X D. Echo boomers E. Generation Z
C. Generation X
The group of economic factors that affect consumers' purchasing power and spending patterns is called ________. A. the value market B. macroenvironment C. the economic environment D. income distribution E. demographic information
C. the economic environment
The major cultural values of a society are expressed by _________. A. people's views of themselves B. people's views of organizations C. people's views of themselves and others, as well as their views of organizations, society, nature, and the universe D. people's views of society E. people's views of the universe
C. people's views of themselves and others, as well as their views of organizations, society, nature, and the universe
To exercise their social responsibility, many companies are linking themselves to what type of marketing? A. Generational B. Technological C. Intermediaries D. Cause-related E. Environmental
Cause-related
A wedding services company changes its marketing strategy to reflect the fact that more LGBT (lesbian/gay/bisexual/transgender) marriages are taking place. The company is offering a broader range of ceremonies that cater to this market. Which of the following environments must this wedding company analyze? A. Political B. Economic C. Cultural D. Natural E. Technological
Cultural
Tina's Tunes is a music store that has been selling CDs for 20 years. Throughout the last six years, sales have continuously declined and profits have almost completely disappeared. The CEO of Tina's Tunes believes resurgence is likely to happen soon and wants to continue business as usual. What is likely to happen to Tina's Tunes? A. Tina's Tunes is likely to fail because it is ignoring the current political environment. B. Tina's Tunes is likely to fail because it is ignoring the natural environment. C. Tina's Tunes will experience a rebound as the fear of the Great Recession declines. D. Tina's Tunes is likely to fail because it is ignoring the technological environment. E. Tina's tunes are likely to prosper as mistrust in the digital age increases.
D. Tina's Tunes is likely to fail because it is ignoring the technological environment.
Dylan Parker owns 27 acres on a farmstead in Iowa. Recently, as he was plowing a field, he came across a rich silver vein in the ground. Realizing his bounty, he decided to open a new business selling silver. Not knowing much about the marketing environment, he asks you what he should do. Which of the following is the BEST advice? A. Dylan should reach out to reseller markets to sell his silver quickly. B. Dylan should focus on farming and ignore the silver vein. C. Dylan should focus on the consumer market and sell silver directly for personal consumption. D. Dylan should focus on the business market and sell the raw silver for further processing. E. Dylan should set his attention to the government markets.
Dylan should focus on the business market and sell the raw silver for further processing
To be successful, why should companies try to adopt a proactive stance on marketing? A. A proactive stance ensures that a company will increase its market share. B. A proactive stance allows a company to let the market determine prices for its products. C. A proactive stance allows a company to compete with its competitors on quality alone. D. A proactive stance allows a company to compete with its competitors on pricing alone. E. A proactive stance allows a company to influence the market in its favor.
E. A proactive stance allows a company to influence the market in its favor
Chicago's Best Pizzeria has been operating on the north side of Chicago for over 30 years. Its target market includes young, urban professionals who want new style, organic pizzas with exotic ingredients. However, in recent years, the population in the pizzeria's neighborhood has been shifting and fewer young, urban professionals live there. The population has grown older and wants traditional pizza, not pizza with exotic ingredients. Which of the following identifies the pizzeria's BEST response to this situation? A. Run an ad campaign on the health benefits of pizza. B. Sell a different food product, such as hamburgers or sushi. C. Cut the prices on its pizza. D. Be proactive and convince customers that "exotic is better." E. Target a new market with a different product.
E. Target a new market with a different product
Proactive businesses often take aggressive actions to affect consumers and the forces in their marketing environments. Which of the following does NOT depict a proactive company? A. Sander's Shoes staging a breast cancer walkathon to gain favorable press coverage B. Airway Industries filing a lawsuit to keep its competitor from forming a monopoly C. Richard's Rifles hiring lobbyists to influence gun legislation D. Tim's Tobacco creating a blog to help shape public opinion E. Sophie's Soups refusing to counter false allegations of rat feces in its soups
E. Sophie's Soups refusing to counter false allegations of rat feces in its soups
The demographic, economic, natural, technological, political, and cultural forces that affect a company's ability to serve its customers make up which of the following? A. Microenvironment B. Cultural environment C. Macroenvironment D. Technological environment E. Marketing environment
Macroenvironment
Beverly's Burgers came under fire recently when allegations were made that its veggie burgers were actually made with beef. To counter the claims, the restaurant called in a company to test not only its veggie burgers but also the rest of its vegetarian options to prove they lacked meat. The results were displayed publicly on the restaurant's Facebook page. What BEST describes Beverly's Burgers response to the allegations? A. Determinative B. Steadfast C. Reactive D. Passive E. Proactive
Proactive
The purpose of business legislation is primarily based on ________. A. rehabilitation B. punishment C. protection D. guidance E. education
Protection
Wonders such as robotic surgery, miniaturized electronics, and antibiotics can be attributed to which marketing environment? A. Political B. Cultural C. Natural D. Technological E. Social
Technological
Which of the following is NOT a problem involving the natural environment that marketers need to consider? A. Greenhouse gases B. Raw material shortages C. Pollution D. The aging U.S. population E. Government regulations
The aging US population
Roper's Radical Racers is an upscale company that sells cars primarily to racecar drivers and movie producers. In the past, Roper's Radical Racers marketed itself to the fun-loving driverlong dash—the driver who wanted to "race with life." However, in the current economy, Roper's has changed its slogan to "superior speed, superior savings." Roper's Radical Racers is engaging in which of the following? A. Income distribution B. Market consideration C. Price slashing D. Diversity targeting E. Value marketing
Value Marketing
Noah's Sporting Goods is having difficulty attaining the credit it needs to expand. What should the company do in order to alleviate its financial situation? A. Work out a plan with its financial intermediaries B. Reexamine its relationship with its resellers C. Find a new physical distribution firm D. Devise a marketing plan with a marketing service agency E. Analyze the finances of one of its competitors
Work out a plan with its financial intermediaries
