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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
the company
B
customers
C
competitors
D
the government
2) Which is not one of the 4 external market environment categories?
A
social and cultural
B
economic
C
planning and design
D
Political and legal
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
true
B
false
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
true
B
falso
7) Managers should consider .... when searching for new opportunities
A
the marketing strength of the company
B
the producing capability of the company
C
the financial strength of the company
D
all of the above
8) This is otherwise known as pure competition
A
anti-monopoly
B
monopoly
C
oligopoly
D
anti-oligopoly
9) Competitive rivals are
A
all the competition
B
includes indirect compeditors
C
all of the above
D
a company's closest competition
10) The north american free trade agreement is between the us, mexico and
A
virgin islands
B
europe
C
canada
D
jamaica
11) Which of the following describes the technological environment
A
the application of science to convert economic resources to output
B
cultural differences
C
factors such as interest rates and inflation
D
religious preferences
12) Which of the following can force a company to recall an unsafe product
A
NAFTA
B
the IRS
C
CPSC
D
Clayton Agency
13) the level of risk varies with the environmental sensitivity
A
true
B
false
14) Mid American Energy is an example of a legal
A
Purely competitive market
B
Oligopoly
C
all of the above
D
Monopoly
15) sustainability is
A
being able to meet current needs without compromising the ability of the next generation to meet their needs
B
being able to keep a company operating
C
all of the above
D
all about making a profit
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
Clayton Act
B
Sherman Act
C
Wheele-Lea Ammendment
D
Robinson-Patman Act
18) Which law regulates product warranties
A
Sherman Act
B
Clayton Act
C
All of the above
D
Magnuson-Moss Act
19) Company objectives should be
A
Realistic
B
specific
C
all of the above
D
compatable
20) The pure food and drug act was started to regulate
A
all of the above
B
product warranty
C
vitamins
D
unsanitary meat packing practices
*select an answer for all questions
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