MKT 3301 Chapter 3 quiz PDF

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Ch 3 quiz What is the purpose of a competitor matrix? to help a firm compare its strengths and weaknesses with those of its competitors

Sales and marketing activity in international markets can be blocked by ______, which emphasize a country’s interests above all else. strong feelings of nationalism

Which of the following is the primary function of the North American Free Trade Agreement (NAFTA)? to reshape the rules of trade among the United States, Canada, and Mexico

The Consumer Product Safety Commission has broad power to set safety standards and can impose penalties for violation of these standards.

GNI is more useful than GDP when trying to determine the income level of the residents of a given country because GDP fails to include the economic losses experienced by firms within a country’s borders.

When a large percentage of people are concentrated in urban areas, such as in the United States, GNI is negatively affected, but GDP is unaffected.

According to the continuum of environmental sensitivity, which of the following products would be least risky to introduce in a foreign market? an industrial welding machine

Which of the following is true of the economic environment? It can change rapidly.

Which of the following is not an element of the external market environment? direct environment

Which of the following is most likely to serve as a firm’s mission statement? We exist to provide customers with the best shopping experience anywhere in cyberspace. In order to identify potential competitors, it is important to take the viewpoint of _____ when conducting a competitor analysis. target customers

How might firms increase production flexibility? by not having “in house” manufacturing

Cutbacks in consumer spending and rising inflation are conditions that arise mostly due to factors in the economic environment.

With reference to the measures of national income, gross domestic product (GDP) differs from gross national income (GNI) in that GDP includes the income earned by foreigners who own resources in a nation, which GNI excludes.

Which of the following is true of the continuum of environmental sensitivity? Some products are more adaptable to foreign markets than others—and thus may be less risky.

Which of the following statements is true of the technological environment? Technology foreshadows breakthrough opportunities.

When looking for attractive opportunities, a marketing manager for a clothing manufacturer should consider all of these answers.

Which of the following is not an example of how the economic environment may affect marketing strategy planning? The demand for bicycles is increasing because consumers are becoming more health conscious.

When some consumers see the marketing mixes being offered by various firms as being different, but other consumers consider these alternatives to be close substitutes for each other, the competitive situation is described as monopolistic competition. Which of the following statements is true regarding General Electric’s (GE) strategic planning grid? GE may continue to support an existing yellow business but will probably reject a proposal for a new one, as yellow businesses are borderline cases. Which of the following is the purpose of free trade agreements? to eliminate import and export barriers between countries

Which of the following federal laws passed by the U.S. Congress prohibits fake advertising allowances and limits quantity discounts? Robinson-Patman Act

Which of the following is not a variable associated with the cultural and social environment? technological innovation

A firm may find itself in—or moving toward—pure competition when customers see the firm’s product as having close substitutes.

Which of the following terms best describes the idea that it is important to meet present needs without compromising the ability of future generations to meet their own needs? sustainability...