Question 1

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Accepted Answer

A)   Lanham Act.
B)   Federal Trade Commission Act.
C)   Robinson-Patman Act.
D)   Sherman Antitrust Act.
E)   Clayton Act.F) A) and D)
G) D) and E)

Question 2

In 1970, the typical U.S. household earned about $8,700. In 2017, it was about $61,300. If adjusted for inflation, the gross income of the typical U.S. household in 2015 relative to 1970 has

Accepted Answer

A)   increased dramatically.
B)   fluctuated intensely.
C)   remained relatively stable.
D)   decreased somewhat.
E)   decreased dramatically.F) A) and B)
G) B) and E)

Question 3

In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

Accepted Answer

A)   echo-boomers
B)   Millennials
C)   Generation Yers
D)   baby boomers
E)   baby bustersF) A) and E)
G) B) and D)

Question 4

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 B)
G) All of the above

Question 5

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

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 (the total number of people per square mile/kilometer) 
D)   birth rate (the number of births during a specified time period) 
E)   death rate (the number of deaths during a specified time period) F) D) and E)
G) A) and B)

Question 6

All of the following statements are true except which?

Accepted Answer

A)   LEED stands for Leadership in Energy and Environmental Design.
B)   Today's college graduates now seek green jobs that involve some aspect of social responsibility.
C)   Colleges of business have yet to establish sustainability course electives or environmental clubs.
D)   Many students want to be involved with organizations such as Net Impact to use business to improve the world.
E)   Millennials want to make a difference by making the world a better place.F) A) and C)
G) A) and B)

Question 7

Spending on which of the following would be considered discretionary?

Accepted Answer

A)   healthcare
B)   housing
C)   furniture
D)   clothing
E)   transportationF) A) and D)
G) B) and D)

Question 8

Today, married households comprise ________ of the U.S. population.

Accepted Answer

A)   10 percent
B)   20 percent
C)   48 percent
D)   64 percent
E)   75 percentF) C) and E)
G) None of the above

Question 9

Approximately one in ________ U.S. residents is African American, Native American or Alaska Native, Asian American, or Native Hawaiian or Pacific Islander.

Accepted Answer

A)   ten
B)   seven
C)   five
D)   three
E)   twoF) A) and E)
G) A) and B)

Question 10

Define technology. How does it affect marketing?

Accepted Answer

Technology refers to inventions or innov...

Question 11

The most recent estimates indicate that the population of the world today is about

Accepted Answer

A)   5.7 billion.
B)   6.3 billion.
C)   7.6 billion.
D)   8.8 billion.
E)   9.5 billion.F) All of the above
G) C) and D)

Question 12

Technological advances can replace or substitute for existing products in a relatively short period. Nest's doorbell is a likely replacement or substitute for

Accepted Answer

A)   digital assistants.
B)   digital video recorders.
C)   security cameras.
D)   exterior lighting.
E)   plastic credit cards.F) A) and C)
G) All of the above

Question 13

The federal government enacted the ________ to make 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) All of the above
G) None of the above

Question 14

An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is referred to as

Accepted Answer

A)   a tying arrangement.
B)   requirement contracting.
C)   exclusive dealing.
D)   territorial dealership contracting.
E)   selective distribution.F) B) and D)
G) A) and E)

Question 15

Cloud computing, such as Apple's iCloud, enables businesses and consumers to share data or use software applications directly from a remote server over the Internet or wirelessly rather than having that data file or program reside on a personal computer. This is an example of a ________ change in the marketing environment.

Accepted Answer

A)   regulatory
B)   sociocultural
C)   competitive
D)   technological
E)   marketing mixF) A) and E)
G) D) and E)

Question 16

The population explosion has occurred

Accepted Answer

A)   primarily in the developing countries of Asia and Africa.
B)   fairly evenly throughout the world.
C)   primarily in the United States due to high birthrates and immigration.
D)   primarily in the countries of the European Union due to high birthrates and immigration.
E)   primarily in developed countries due to better economic, infrastructure, and health care conditions.F) A) and D)
G) A) and E)

Question 17

The Lanham Act

Accepted Answer

A)   prevents someone from using a trademark on a noncompeting product.
B)   protects the consumer from product defects.
C)   provides for registration of a company's trademarks.
D)   allows a company to secure rights to a name before its actual use.
E)   facilitates the protection of U.S. trademark rights throughout the world.F) A) and E)
G) None of the above

Question 18

The form of competition in which many sellers compete with substitutable products within a price range is called

Accepted Answer

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

Question 19

Value consciousness is defined as

Accepted Answer

A)   special deals to customers who shop for bargains online.
B)   the concern for obtaining the best quality, features, and performance of a product or service for a given price that drives consumption behavior.
C)   a change in consumption orientation to strongly prefer inexpensive products.
D)   strict budgeting of discretionary purchases.
E)   money management for long-term stability.F) A) and B)
G) A) and C)

Question 20

Paul is a salesperson at the only Ford automobile dealership in Wausau, Wisconsin. However, there are several other auto dealerships in town, offering both domestic and foreign cars and trucks. Paul works hard to keep his customers satisfied because he knows that if his customers are unhappy, they can simply buy a car from one of the several other comparable dealers in Wausau. This marketing environment is an example of

Accepted Answer

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

Exam 3: Scanning the Marketing Environment

Today, married households comprise ________ of the U.S. population.

Correct Answer
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In 1970, the typical U.S. household earned about $8,700. In 2017, it was about $61,300. If adjusted for inflation, the gross income of the typical U.S. household in 2015 relative to 1970 has

Correct Answer
verified

The population explosion has occurred

Correct Answer
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Approximately one in ________ U.S. residents is African American, Native American or Alaska Native, Asian American, or Native Hawaiian or Pacific Islander.

Correct Answer
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Value consciousness is defined as

Correct Answer
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In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

Correct Answer
verified

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

Correct Answer
verified

Spending on which of the following would be considered discretionary?

Correct Answer
verified

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Correct Answer
verified

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

The Lanham Act

Correct Answer
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All of the following statements are true except which?

Correct Answer
verified

The most recent estimates indicate that the population of the world today is about

Correct Answer
verified

Correct Answer
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An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is referred to as

Correct Answer
verified

The federal government enacted the ________ to make 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

Technological advances can replace or substitute for existing products in a relatively short period. Nest's doorbell is a likely replacement or substitute for

Correct Answer
verified

Define technology. How does it affect marketing?

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

The form of competition in which many sellers compete with substitutable products within a price range is called

Correct Answer
verified

Exam 3: Scanning the Marketing Environment

Today, married households comprise ________ of the U.S. population.

Correct AnswerverifiedShow Answer

In 1970, the typical U.S. household earned about $8,700. In 2017, it was about $61,300. If adjusted for inflation, the gross income of the typical U.S. household in 2015 relative to 1970 has

Correct AnswerverifiedShow Answer

The population explosion has occurred

Correct AnswerverifiedShow Answer

Approximately one in ________ U.S. residents is African American, Native American or Alaska Native, Asian American, or Native Hawaiian or Pacific Islander.

Correct AnswerverifiedShow Answer

Value consciousness is defined as

Correct AnswerverifiedShow Answer

In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Spending on which of the following would be considered discretionary?

Correct AnswerverifiedShow Answer

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Correct AnswerverifiedShow Answer

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

The Lanham Act

Correct AnswerverifiedShow Answer

All of the following statements are true except which?

Correct AnswerverifiedShow Answer

The most recent estimates indicate that the population of the world today is about

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

An arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors is referred to as

Correct AnswerverifiedShow Answer

The federal government enacted the ________ to make 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

Technological advances can replace or substitute for existing products in a relatively short period. Nest's doorbell is a likely replacement or substitute for

Correct AnswerverifiedShow Answer

Define technology. How does it affect marketing?

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

The form of competition in which many sellers compete with substitutable products within a price range is called

Correct AnswerverifiedShow Answer

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

Correct Answer
verified