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Multiple Choice Quiz
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1
Today, the GPS revolution is making the entire marketplace __________ for consumers and marketers.
A)profit-based
B)market-based
C)time-based
D)location-based
E)universal
2
The term demographics refers to
A)the description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation.
B)the description of a population according to its values and cultural beliefs.
C)the location of where prospective customers live or work.
D)the subjective emotional attributes, aspirations, or needs of potential consumers.
E)an objective measurement of a person's likelihood to purchase a good or service.
3
The name given to the group of consumers who are self-reliant, entrepreneurial, supportive of racial and sexual diversity, and not prone to extravagance is called
A)Generation X
B)Generation Y
C)Generation Z
D)Baby boomers
E)Millennials
4
Europe's largest bank, The HSBC Bank International Ltd., selected its advertising agency because it was "always sensitive to the possibility that something might not translate well or may offend superstitions about colours or numbers" in the various customers that make up the European Union. This is an example of how __________ forces affect marketing.
A)social
B)technological
C)economic
D)competitive
E)regulatory
5
In an inflationary economy, the cost to produce and buy products and services __________ as prices __________.
A)increase; increase
B)increase; decrease
C)decrease; increase
D)decrease; decrease
E)does not change; increase
6
In recent years, the personal saving rate of Americans has declined to almost zero. That trend was reversed in 2008 when
A)the nation's largest banks started an interest rate price war offering customers the highest savings interest rates since the year 2000.
B)the government issued stimulus checks designed to improve the economy, and consumers saved the money rather than spend it.
C)the government allowed healthcare savings accounts.
D)the government offered a deferment on income tax payments for a period of one year provided that money was placed in an interest-bearing savings account.
E)credit card companies offered to lower interest rates based on the amount of money deposited in a person's savings account and the length of time the money remained there.
7
The form of competition in which every company has a similar product is referred to as
A)pure competition
B)parity competition
C)oligopoly
D)monopolistic competition
E)monopoly
8
Powerful buyers exist when
A)there are many buyers and switching costs are high.
B)when switching costs are low and there are few buyers.
C)when the product represents a small share of the buyer's total costs.
D)when the product is critical to the buyer.
E)barriers to entry exist.
9
The purpose of the Robinson-Patman Act is to
A)provide incentives for interstate mergers.
B)encourage pure competition.
C)repeal the Sherman Antitrust Act.
D)outlaw price discrimination for purchasers of the same product.
E)protect inventors from having their intellectual property stolen.
10
Each year, the U.S. Army shoots an estimated 200 million rounds of lead bullets at target practice areas across the United States. In response to environmentalists' concerns over lead poisoning in the soil, arms manufacturers have invested over $12 million to develop an environmentally safe tungsten bullet. This is an example of
A)consumerism.
B)environmentally-sponsored regulation.
C)government intervention.
D)proactive directives.
E)Naderism.







Kerin Marketing 10e OLCOnline Learning Center

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