Marketing Practice Exam Chapter 3 – Flashcards
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The role of a company's marketing intermediaries is to do which of the following?
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help the company find, promote, sell, and distribute products
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The group of economic factors that affect consumers' purchasing power and spending patterns is called which of the following?
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the economic environment
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Which of the following is NOT problem involving the natural environment that marketers need to consider?
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renewable resources
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The purpose of business legislation is primarily based on _____.
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protection
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The difference between a proactive and a reactive stance to the marketing environment can best be described as which of the following?
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passive versus active responses
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Richard's Cowboy Gear is having difficulty attaining the credit it needs to expand. Which of the following should the company do in order to alleviate its financial situation?
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Work out a plan with its financial intermediaries.
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Rod's Radical Racers is an upscale company that sells cars primarily to race car drivers and movie producers. In the past, Rod's Radical Racers was marketed as selling cars for the fun-loving driver—the driver who wanted to "race with life." However, in the current economy, Rod's has changed its slogan to "superior speed, superior savings." Rod's Radical Racers is engaging in which of the following?
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value marketing
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Which of the following best describes a duty that would fall under the jurisdiction of the EPA?
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Ensuring that pollution standards are met by a company
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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 new market. Which of the following environments must be carefully analyzed by this wedding company?
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Cultural
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Chicago's Best Pizzeria has been operating on the south side of Chicago for over 50 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?
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Target a new market with a different product
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How does the macroenvironment of a company differ from its microenvironment?
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The macroenvironment deals with societal forces, and the microenvironment deals with creating value.
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Overall, how has the American population changed over time?
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It has become more diverse, better educated, and more mobile.
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Which of the following identifies a change in the technological environment that could affect the success of a business?
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A company develops a new battery that lasts twice as long as its predecessor.
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Which of the following is NOT a factor that makes it difficult for companies to adhere to legislation in the business environment?
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The shrinking number of laws currently in existence
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To be successful, why should company's try to adopt a proactive stance to a marketing?
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A proactive stance allows a company to influence the market in its favor.
