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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
the government
D
competitors
2) Which is not one of the 4 external market environment categories?
A
social and cultural
B
planning and design
C
Political and legal
D
economic
3) A mission statement sets the organizations basic purpose for being and should focus on a few key goals
A
false
B
true
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
yes
B
no
6) the company objectives should shape a firms course
A
true
B
falso
7) Managers should consider .... when searching for new opportunities
A
the financial strength of the company
B
the producing capability of the company
C
the marketing strength of the company
D
all of the above
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
virgin islands
B
canada
C
jamaica
D
europe
11) Which of the following describes the technological environment
A
religious preferences
B
factors such as interest rates and inflation
C
cultural differences
D
the application of science to convert economic resources to output
12) Which of the following can force a company to recall an unsafe product
A
the IRS
B
NAFTA
C
Clayton Agency
D
CPSC
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
all of the above
B
Purely competitive market
C
Monopoly
D
Oligopoly
15) sustainability is
A
all of the above
B
being able to meet current needs without compromising the ability of the next generation to meet their needs
C
being able to keep a company operating
D
all about making a profit
16) Which of the following is not an economic factor
A
global economy
B
all of these are economic factors
C
change occurs rapidly
D
Interest rates and inflation
17) which act works to prevent monopolies
A
Clayton Act
B
Wheele-Lea Ammendment
C
Robinson-Patman Act
D
Sherman Act
18) Which law regulates product warranties
A
Sherman Act
B
Magnuson-Moss Act
C
All of the above
D
Clayton Act
19) Company objectives should be
A
compatable
B
Realistic
C
specific
D
all of the above
20) The pure food and drug act was started to regulate
A
all of the above
B
vitamins
C
product warranty
D
unsanitary meat packing practices
*select an answer for all questions
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