Question 1

Which congressional act protects consumers against terrorist actions?

Accepted Answer

A)   Robinson-Patman Act of 1936
B)   Federal Trade Commission Act of 1914
C)   Sherman Act of 1890
D)   Homeland Security Act of 2002

Question 2

Gross domestic product is the total market value of all final goods and services produced during a period of time.

Accepted Answer

A) True 
 B)False

Question 3

Many foreign competitors don't consider the United States a ripe target market yet.

Accepted Answer

A) True 
 B)False

Question 4

Fresnas Cuisine,a restaurant chain,recently introduced fast food on its menu because management recognized that their customers are predominantly young people.This scenario illustrates how _____ influence marketing decisions.

Accepted Answer

A)   economic factors
B)   demographic factors
C)   legal factors
D)   ethical factors

Question 5

Demography is a controllable variable in the external environment.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is accurate with regard to Asian Americans?

Accepted Answer

A)   The Asian American population growth has been fueled primarily by immigration.
B)   Asian Americans embrace the values of the larger U.S.population and don't follow the cultural values of their particular subgroup.
C)   Asian Americans usually don't speak their native tongue at home.
D)   A large percentage of Asian Americans categorize themselves as "American."

Question 7

Martha visits a department store and discovers that a box of exotic candles will cost 10 percent more than what she had paid six months ago.Similar increases in prices across most goods and services is happening throughout the country.In this scenario,which statement is true?

Accepted Answer

A)   Martha's purchasing power would remain unchanged if she has a pay raise to match the inflation.
B)   She would have to pay 12 percent more than what she paid last month.
C)   The department store's marketing strategy is to increase its profit margin by increasing the prices of its goods.
D)   The candles' subjective value increases with the increase in inflation.

Question 8

Jessica was born in 1994.She spends more time on Facebook than reading magazines.Despite her preference for spending time online at social networking sites,she does listen to the radio and read occasionally.Given this information,which of the following statements is true of Jessica?

Accepted Answer

A)   She does not expect brands to be on social media.
B)   She is a younger Millennial.
C)   She is one of the first generation of latchkey children.
D)   She would have graduated from college during the Great Recession. B

Question 9

A federal agency which aims at preventing persons or corporations from using unfair methods of competition in commerce is:

Accepted Answer

A)   the Federal Trade Commission (FT
C)  .
B)   the Food and Drug Administration (FD
A)  .
C)   the Consumer Product Safety Commission (CPS
C)  .
D)   the Bureau of Consumer Protection.

Question 10

The Bureau of Competition provides information and holds conferences and workshops for consumers,businesses,and policy makers on competition issues for market analysis.

Accepted Answer

A) True 
 B)False

Question 11

Hydralicious,a juice outlet,had to close a business because health inspectors found that the storage facilities at the outlet did not meet the standards set by the government.In this scenario,a(n) _____ factor affected Hydralicious's business.

Accepted Answer

A)   technological
B)   economic
C)   legal
D)   demographic

Question 12

The difficulty of making profit from applied research discoveries has led businesses to cut their spending on applied research.

Accepted Answer

A) True 
 B)False  False

Question 13

The term Hispanic encompasses people of many different racial backgrounds.

Accepted Answer

A) True 
 B)False

Question 14

Hispanic Americans in the United States:

Accepted Answer

A)   are prejudiced towards relationships.
B)   are much older than the general U.S.population.
C)   are the largest segment of the population to use mobile devices for any type of transaction.
D)   are the most homogenous ethnic group.

Question 15

Paulina is an eleven-year-old girl.She spends a lot of time on social media and likes mobile games.In this case,Paulina is most likely to be a

Accepted Answer

A)   Baby Boomer.
B)   Millennial.
C)   Gen Xer.
D)   tween.

Question 16

With access to information,opinions,and sophistication well beyond their years,_____ are directly or indirectly responsible for sales of over $200 billion annually.

Accepted Answer

A)   Baby Boomers
B)   Millennials
C)   teens
D)   tweens

Question 17

Unlike people who belong to Generation X,Baby Boomers:

Accepted Answer

A)   do not use social media or other technologies to buy products.
B)   tend to be influenced more by traditional advertising and word-of-mouth recommendations.
C)   spend less on gifts,personal care products,medical care,food away from home,and entertainment.
D)   graduated from college during the Great Recession. B

Question 18

Teens possess a negligible amount of buying power.

Accepted Answer

A) True 
 B)False

Question 19

Define Baby Boomers and their relevance for marketers.

Accepted Answer

There are approximately 75 million Baby ...

Question 20

Which of the following statements is true of American teenagers?

Accepted Answer

A)   They spend about six hours per week tuned in to electronic media.
B)   They make the largest cohort group.
C)   They prefer face-to-face communication to communicating electronically.
D)   They prefer Tumblr and Instagram to Facebook.

Exam 4: The Marketing Environment

Which congressional act protects consumers against terrorist actions?

Correct AnswerverifiedShow Answer

Gross domestic product is the total market value of all final goods and services produced during a period of time.

Correct AnswerverifiedShow Answer

Many foreign competitors don't consider the United States a ripe target market yet.

Correct AnswerverifiedShow Answer

Fresnas Cuisine,a restaurant chain,recently introduced fast food on its menu because management recognized that their customers are predominantly young people.This scenario illustrates how _____ influence marketing decisions.

Correct AnswerverifiedShow Answer

Demography is a controllable variable in the external environment.

Correct AnswerverifiedShow Answer

Which of the following is accurate with regard to Asian Americans?

Correct AnswerverifiedShow Answer

Martha visits a department store and discovers that a box of exotic candles will cost 10 percent more than what she had paid six months ago.Similar increases in prices across most goods and services is happening throughout the country.In this scenario,which statement is true?

Correct AnswerverifiedShow Answer

Jessica was born in 1994.She spends more time on Facebook than reading magazines.Despite her preference for spending time online at social networking sites,she does listen to the radio and read occasionally.Given this information,which of the following statements is true of Jessica?

Correct AnswerverifiedB

A federal agency which aims at preventing persons or corporations from using unfair methods of competition in commerce is:

Correct AnswerverifiedShow Answer

The Bureau of Competition provides information and holds conferences and workshops for consumers,businesses,and policy makers on competition issues for market analysis.

Correct AnswerverifiedShow Answer

Hydralicious,a juice outlet,had to close a business because health inspectors found that the storage facilities at the outlet did not meet the standards set by the government.In this scenario,a(n) _____ factor affected Hydralicious's business.

Correct AnswerverifiedShow Answer

The difficulty of making profit from applied research discoveries has led businesses to cut their spending on applied research.

Correct AnswerverifiedFalse

The term Hispanic encompasses people of many different racial backgrounds.

Correct AnswerverifiedShow Answer

Hispanic Americans in the United States:

Correct AnswerverifiedShow Answer

Paulina is an eleven-year-old girl.She spends a lot of time on social media and likes mobile games.In this case,Paulina is most likely to be a

Correct AnswerverifiedShow Answer

With access to information,opinions,and sophistication well beyond their years,_____ are directly or indirectly responsible for sales of over $200 billion annually.

Correct AnswerverifiedShow Answer

Unlike people who belong to Generation X,Baby Boomers:

Correct AnswerverifiedB

Teens possess a negligible amount of buying power.

Correct AnswerverifiedShow Answer

Define Baby Boomers and their relevance for marketers.

Correct AnswerverifiedThere are approximately 75 million Baby ...View AnswerShow Answer

Which of the following statements is true of American teenagers?

Correct AnswerverifiedShow Answer

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B

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False

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B

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There are approximately 75 million Baby ...
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