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Marketing Chapter 3 Review
Test Description: Chapter 3 review
Instructions: Answer all questions to get your test result.
1) which group is not a part of the direct market environment
A
competitors
B
the government
C
the company
D
customers
2) Which is not one of the 4 external market environment categories?
A
economic
B
Political and legal
C
planning and design
D
social and cultural
3) A mission statement sets the organizations basic purpose for being and should focus on a few key goals
A
true
B
false
4) The mission should be developed by the owner and forced upon the employees
A
false
B
true
5) Does everyone in the organization need to buy into the mission?
A
no
B
yes
6) the company objectives should shape a firms course
A
falso
B
true
7) Managers should consider .... when searching for new opportunities
A
the marketing strength of the company
B
the financial strength of the company
C
all of the above
D
the producing capability of the company
8) This is otherwise known as pure competition
A
oligopoly
B
monopoly
C
anti-oligopoly
D
anti-monopoly
9) Competitive rivals are
A
a company's closest competition
B
all the competition
C
all of the above
D
includes indirect compeditors
10) The north american free trade agreement is between the us, mexico and
A
canada
B
virgin islands
C
jamaica
D
europe
11) Which of the following describes the technological environment
A
the application of science to convert economic resources to output
B
religious preferences
C
factors such as interest rates and inflation
D
cultural differences
12) Which of the following can force a company to recall an unsafe product
A
the IRS
B
CPSC
C
Clayton Agency
D
NAFTA
13) the level of risk varies with the environmental sensitivity
A
false
B
true
14) Mid American Energy is an example of a legal
A
Oligopoly
B
all of the above
C
Monopoly
D
Purely competitive market
15) sustainability is
A
being able to keep a company operating
B
all about making a profit
C
all of the above
D
being able to meet current needs without compromising the ability of the next generation to meet their needs
16) Which of the following is not an economic factor
A
all of these are economic factors
B
change occurs rapidly
C
Interest rates and inflation
D
global economy
17) which act works to prevent monopolies
A
Robinson-Patman Act
B
Sherman Act
C
Clayton Act
D
Wheele-Lea Ammendment
18) Which law regulates product warranties
A
Magnuson-Moss Act
B
Sherman Act
C
Clayton Act
D
All of the above
19) Company objectives should be
A
compatable
B
all of the above
C
Realistic
D
specific
20) The pure food and drug act was started to regulate
A
product warranty
B
vitamins
C
unsanitary meat packing practices
D
all of the above
*select an answer for all questions
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