Chapter 3: Quiz 3 In Tutorial Library

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TITLE: Chapter 3: Quiz 3

UNIVERSITY / INSTITUTE: Purdue University

CLASS / COURSE: MGMT 324 Marketing Management

QUESTION DESCRIPTION:

This tutorial has Quiz 3 of course MGMT 324 Marketing Managment of Purdue University. 

 
1. A company engaged in environmental scanning is 
 
  Student Response Value Correct Answer Feedback
A. taking into account the effect its marketing activities can have on plants and animals in our environment.  
 B. continually acquiring information on events occurring outside the organization to identify and interpret potential trends.      
C. maintaining a constant time horizon in its strategic planning process.  
D. maintaining retail customer databases.  
E. requiring all employees to spend time outside the office to avoid the "ivory tower" syndrome.  
 
2. Which of the following statements about environmental scanning is true? 
 
  Student Response Value Correct Answer Feedback
A. Environmental scanning changes the marketing environment.  
 B. Environmental scanning identifies and interprets potential trends.    
C. Environmental scanning is an annual event.  
D. Environmental scanning focuses primarily on geographical factors.  
E. All of the above statements about environmental scanning are true.  
 
3. The social forces of the environment include the ____________ of the population and its values. Changes in these forces can have a dramatic impact on marketing strategy. 
 
  Student Response Value Correct Answer Feedback
A. living standards  
B. social class  
 C. demographic characteristics    
D. dialect  
E. laws  
 
4. Which of the following statements about Generation Y is most true? 
 
  Student Response Value Correct Answer Feedback
A. Generation Y is known as a demanding group of consumers.  
 B. Generation Y feels personally responsible for making a difference in the world.  
C. Many members of Generation Y are becoming entrepreneurs.  
D. Members of Generation Y are optimistic about their potential for fame and fortune.  
E. All of the above statements are true.    
 
5. In an inflationary economy, the cost to produce and buy products and services __________ as prices __________. 
 
  Student Response Value Correct Answer Feedback
 A. escalates; increase    
B. escalates; decrease  
C. decreases; increases  
D. decreases; decreases  
E. does not change; increase  
 
6. Very recently ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of RFID (radio frequency identification) tags that are currently used in industry. This is an example of how __________ is (are) applied to industry. 
 
  Student Response Value Correct Answer Feedback
A. regulations  
 B. technology    
C. laws  
D. social change  
E. economics  
 
7. Paul Avery 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 many other comparable dealers in Wausau. This is an example of 
 
  Student Response Value Correct Answer Feedback
A. pure competition.  
 B. monopolistic competition.    
C. an oligopoly.  
D. a monopoly.  
E. incremental competition.  
 
8. Coupons and sales are frequently used marketing tactics in which form of competition? 
 
  Student Response Value Correct Answer Feedback
A. pure competition  
B. cross-market competition  
C. oligopoly  
 D. monopolistic competition    
E. monopoly  
 
9. The major retailers of online music include iTunes Store, Napster, e-Music, Zune Marketplace, Rhapsody, and Yahoo! Music Unlimited. The online music industry is an example of a(n) 
 
  Student Response Value Correct Answer Feedback
A. monopoly.  
B. cross-market.  
C. pure competition position.  
D. monopolistic competition position.  
 E. oligopoly.    
 
10. __________ consists of restrictions state and federal laws place on business with regard to the conduct of its activities. 
 
  Student Response Value Correct Answer Feedback
A. Jurisprudence  
 B. Regulation    
C. Competitive restraints  
D. Legal formalizations  
E. Lobbying amendments  
 
11. The purpose of the Clayton Act is to 
 
  Student Response Value Correct Answer Feedback
A. provide incentives for interstate mergers.  
B. encourage pure competition.  
C. exact retribution and compensation from violators.  
D. repeal the Sherman Antitrust Act.  
 E. forbid actions that are likely to lessen competition.    
 
12. Coupons and sales are frequently used marketing tactics in which form of competition? 
 
  Student Response Value Correct Answer Feedback
A. pure competition  
B. cross-market competition  
C. oligopoly  
 D. monopolistic competition    
E. monopoly  
 
13. __________ is the form of competition that occurs when only one firm sells the product. 
 
  Student Response Value Correct Answer Feedback
A. Pure competition  
B. Cross-market competition  
C. Oligopoly  
D. Monopolistic competition  
 E. Pure monopoly    
 
14. If a major food company offered supermarket chains special prices and incentives to carry its brand of frozen vegetables and not to carry competing brands, it could be accused of __________, and would be subject to prosecution if its actions substantially reduce competition. 
 
  Student Response Value Correct Answer Feedback
A. requirement contracting  
B. tying arrangements  
C. territorial infringement  
D. monopolistic practice  
 E. exclusive dealing    
 
 
15. There are many diet aids on the market. They promise immediate weight loss without exercise or a change in diet. Each is accompanied by a testimonial from a satisfied user. If you pay close attention, you will notice that each ad also contains the statement, "Results may vary." This statement may be included to prevent the Federal Trade Commission (FTC) from requiring the dietary aid distributor from having to 
 
  Student Response Value Correct Answer Feedback
A. run corrective advertising.    
B. engage in competitive advertising.  
 C. guarantee truth-in-advertising.  
D. prevent comparative advertising.  
E. engage in self-regulation.  
 
 

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