Question 1

The class of customers who buy products but have no intention of using the products for themselves are known as
A) hoarders.
B) resellers.
C) opportunists.
D) arbitrageurs.

Accepted Answer

Resellers buy products not intending to use them but to sell them to others.

Question 2

Which of the following is NOT one of the three types of competitors?
A) Primary competitors
B) Secondary competitors
C) Insignificant competitors
D) Unexpected competitors

Accepted Answer

Insignificant competitors are not typically classified as one of the three main types of competitors. The three common types are primary, secondary, and tertiary (or unexpected) competitors.

Question 3

You are responsible for marketing movies for a cinema chain. In addition to monitoring what other cinema chains are doing, you need to look at other forms of entertainment that are considered to be
A) primary competitors.
B) competitive threats.
C) unexpected competitors.
D) secondary competitors.

Accepted Answer

The answer of You are responsible for marketing movies for...

Question 4

The Chief Marketing Officer (CMO) has looked at a draft of your plan for the launch of a new product. While generally satisfied, she says, "You've shown good strong reasons for new customers to buy our new product, but we can't consider this plan in a vacuum." You need more detailed analysis and planning on which element of the micro-environment to address her specific concerns?
A) Competitors
B) Customers
C) Company
D) Intermediaries

Accepted Answer

Given the context, the CMO is likely concerned about how competitors will react to the new product launch, suggesting a need for a detailed analysis of competitors in the micro-environment.

Question 5

Beth owns and operates a garden store focusing on plants native to her region. Though she knows she needs to monitor all kinds of brick-and-mortar and online companies selling plants, she feels most concerned about other garden stores within driving distance. These stores would be considered her
A) retail competitors.
B) primary competitors.
C) secondary competitors.
D) unexpected competitors.

Accepted Answer

Beth's concern about other garden stores within driving distance indicates they are her primary competitors, as they offer similar products and target a similar customer base in the same geographic area.

Question 6

Market share may be difficult to determine and may not be useful at all if what kind of competitors begin attracting customers?
A) Alpha competitors
B) Primary competitors
C) Secondary competitors
D) Unexpected competitors

Accepted Answer

Unexpected competitors can provide the same benefit as a firm's product, but it might be an entirely different product, such as using videoconferencing instead of buying airline tickets.

Question 7

Companies can enhance their marketing goals for strategic advantage and exercise significant control through careful selection of its
A) suppliers.
B) salesforce.
C) competitors.
D) publics.

Accepted Answer

The answer of Companies can enhance their marketing goals for...

Question 8

Which of the following is NOT one of the criteria a firm would use in evaluating suppliers?
A) Supplier firm ownership
B) Additional benefits
C) Sharing goals
D) Shared values

Accepted Answer

Supplier firm ownership is not typically a criterion for evaluating suppliers. The main focus is usually on factors that directly impact the quality, cost, and reliability of the supply, such as additional benefits, shared goals, and values, rather than who owns the supplier firm.

Question 9

When firms use other firms to perform tasks that could otherwise be done by the company itself, such as providing logistics or marketing research, they are demonstrating the importance of what part of the micro-environment?
A) The company
B) Intermediaries
C) Suppliers
D) Competitors

Accepted Answer

Intermediaries are entities or services that act as a link between the company and its customers or facilitate various functions that could include logistics, marketing research, and more, which the company might outsource to focus on its core activities.

Question 10

Josh is a newly hired marketing assistant, and his boss is discussing the micro-environment of his new firm. She notes that the advertising agency is an intermediary. Why would she classify the agency as an intermediary?
A) "Intermediary" is the same as "supplier," and she could have used either term.
B) Intermediaries help connect the company to the customer.
C) The agency provides a service not a product used in the firm.
D) The firm has more control over an intermediary than a supplier.

Accepted Answer

Intermediaries facilitate the sale of products or services by acting as a link between the company and its customers, which is the role of an advertising agency in promoting the firm's offerings.

Question 11

As technology has given consumers and potential consumers access to information about firms, many firms have felt increasingly vulnerable to misinformation as well as information to facilitate purchases. The micro-environment element that includes groups that have an interest in the firm but who are not directly related are known as
A) third parties.
B) indirect suppliers.
C) publics.
D) intermediaries.

Accepted Answer

The micro-environment element that includes groups with an interest in the firm but who are not directly related to its day-to-day operations is known as "publics." This term encompasses a wide range of stakeholders, including media, governments, citizen action groups, and more, who can influence or be influenced by the firm's actions but are not engaged in transactions with the firm like suppliers or intermediaries.

Question 12

Which of the micro-environment components is LEAST under the marketer's control or direct influence?
A) Intermediaries
B) Suppliers
C) Company
D) Publics

Accepted Answer

Publics are groups that have an actual or potential interest in or impact on an organization's ability to achieve its objectives. Unlike intermediaries, suppliers, or the company itself, publics are not typically under the direct control or influence of marketers. They can include media, government agencies, financial groups, and the general public, among others.

Question 13

Within the U.S. culture, the changing nature of the family means marketers must
A) adapt the marketing mix to focus on which changing consumer decision making area.
B) reinforce their attention on the population that is aging.
C) pay less attention to the growth in Hispanic and other cultural groups.
D) discount the importance of demographics in their analyses.

Accepted Answer

Marketers must adapt the marketing mix to address the changing nature of the family and its impact on consumer decision-making areas, reflecting shifts in family structures, roles, and preferences.

Question 14

Marketers have new challenges and opportunities with new and different holidays, different promotions, and new kinds of buying behaviors as part of what component of the social/culture element in the macro-environment?
A) Diversity
B) The changing nature of the family unit
C) Changing ethical and moral values
D) The aging of the generational cohorts

Accepted Answer

Diversity encompasses the introduction of new holidays, promotions, and buying behaviors, reflecting the varied backgrounds and traditions of consumers.

Question 15

Which of the following is NOT one of the four basic rights articulated in the Consumer Bill of Rights?
A) The right to be informed
B) The right to safety
C) The right to be heard
D) The right to privacy

Accepted Answer

The four basic rights in the Consumer Bill of Rights are the right to safety, the right to be informed, the right to choose, and the right to be heard. The right to privacy is not included in these foundational consumer rights.

Question 16

In recent years, the political, regulatory and legal environment has affected every element of the marketing mix. Which of the following is NOT a consequence of this changing environment?
A) Consumers' rights have expanded affecting virtually every area of marketing.
B) Compliance has become more expensive.
C) The market is more orderly and efficient.
D) The marketer must be more attuned to conflicting regulations.

Accepted Answer

The changing political, regulatory, and legal environment primarily introduces challenges such as expanded consumer rights, increased compliance costs, and the need for marketers to navigate conflicting regulations. It does not inherently make the market more orderly and efficient; this outcome depends on how regulations are implemented and enforced.

Question 17

David was given the responsibility of tracking changes in federal regulations that would affect the marketing efforts in his firm. Which of these agencies should be one he'd need to track for marketing implications?
A) The Alcohol, Tobacco and Firearms Bureau
B) The Food and Drug Administration
C) The Centers for Disease Control
D) The National Health Institute

Accepted Answer

The Food and Drug Administration (FDA) regulates marketing practices related to food, drugs, and cosmetics, which can significantly impact marketing strategies in those industries.

Question 18

Which of the following is NOT one of the areas on which the Federal Trade Commission focuses?
A) Misleading advertising
B) Privacy issues
C) Keeping competition fair
D) Internet usage by companies

Accepted Answer

The Federal Trade Commission (FTC) focuses on protecting consumers and maintaining competition, which includes addressing misleading advertising, privacy issues, and keeping competition fair. Internet usage by companies is too broad and not specifically one of the core focus areas directly mentioned by the FTC, although aspects of internet usage may intersect with their concerns on privacy and advertising.

Question 19

If you are frustrated at making only enough money to pay your basic living expenses with little or no money left over to pay for fun, you are frustrated at your lack of
A) fixed income.
B) net income.
C) disposable income.
D) discretionary income

Accepted Answer

Discretionary income is the amount of money left over after paying for essential living expenses, which can be used for non-essential items or activities.

Question 20

Unless you are marketing necessities like rent, utilities and transportation, which is your major concern as a marketer?
A) Gross income
B) Net income
C) Disposable income
D) Discretionary income

Accepted Answer

Discretionary income is the major concern for marketers not dealing in necessities, as it represents the amount of an individual's income available for non-essential spending after paying for the essentials like rent, utilities, and transportation.

Quiz 3: The Marketing Environment

The class of customers who buy products but have no intention of using the products for themselves are known as

Which of the following is NOT one of the three types of competitors?

You are responsible for marketing movies for a cinema chain. In addition to monitoring what other cinema chains are doing, you need to look at other forms of entertainment that are considered to be

Beth owns and operates a garden store focusing on plants native to her region. Though she knows she needs to monitor all kinds of brick-and-mortar and online companies selling plants, she feels most concerned about other garden stores within driving distance. These stores would be considered her

Market share may be difficult to determine and may not be useful at all if what kind of competitors begin attracting customers?

Companies can enhance their marketing goals for strategic advantage and exercise significant control through careful selection of its

Which of the following is NOT one of the criteria a firm would use in evaluating suppliers?

When firms use other firms to perform tasks that could otherwise be done by the company itself, such as providing logistics or marketing research, they are demonstrating the importance of what part of the micro-environment?

Josh is a newly hired marketing assistant, and his boss is discussing the micro-environment of his new firm. She notes that the advertising agency is an intermediary. Why would she classify the agency as an intermediary?

Which of the micro-environment components is LEAST under the marketer's control or direct influence?

Within the U.S. culture, the changing nature of the family means marketers must

Marketers have new challenges and opportunities with new and different holidays, different promotions, and new kinds of buying behaviors as part of what component of the social/culture element in the macro-environment?

Which of the following is NOT one of the four basic rights articulated in the Consumer Bill of Rights?

In recent years, the political, regulatory and legal environment has affected every element of the marketing mix. Which of the following is NOT a consequence of this changing environment?

David was given the responsibility of tracking changes in federal regulations that would affect the marketing efforts in his firm. Which of these agencies should be one he'd need to track for marketing implications?

Which of the following is NOT one of the areas on which the Federal Trade Commission focuses?

If you are frustrated at making only enough money to pay your basic living expenses with little or no money left over to pay for fun, you are frustrated at your lack of

Unless you are marketing necessities like rent, utilities and transportation, which is your major concern as a marketer?