Marketing Chapter 3 Review: Question Preview (ID: 21191)

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which group is not a part of the direct market environment
a) customers
b) competitors
c) the company
d) the government

Which is not one of the 4 external market environment categories?
a) Political and legal
b) social and cultural
c) planning and design
d) economic

A mission statement sets the organizations basic purpose for being and should focus on a few key goals
a) true
b) false

The mission should be developed by the owner and forced upon the employees
a) true
b) false

Does everyone in the organization need to buy into the mission?
a) yes
b) no

the company objectives should shape a firms course
a) true
b) falso

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

This is otherwise known as pure competition
a) oligopoly
b) anti-monopoly
c) monopoly
d) anti-oligopoly

Competitive rivals are
a) a company's closest competition
b) all the competition
c) includes indirect compeditors
d) all of the above

The north american free trade agreement is between the us, mexico and
a) jamaica
b) canada
c) virgin islands
d) europe

Which of the following describes the technological environment
a) factors such as interest rates and inflation
b) religious preferences
c) the application of science to convert economic resources to output
d) cultural differences

Which of the following can force a company to recall an unsafe product
c) Clayton Agency
d) the IRS

the level of risk varies with the environmental sensitivity
a) true
b) false

Mid American Energy is an example of a legal
a) Oligopoly
b) Monopoly
c) Purely competitive market
d) all of the above

sustainability is
a) all about making a profit
b) being able to keep a company operating
c) being able to meet current needs without compromising the ability of the next generation to meet their needs
d) all of the above

Which of the following is not an economic factor
a) change occurs rapidly
b) Interest rates and inflation
c) global economy
d) all of these are economic factors

which act works to prevent monopolies
a) Clayton Act
b) Sherman Act
c) Robinson-Patman Act
d) Wheele-Lea Ammendment

Which law regulates product warranties
a) Magnuson-Moss Act
b) Clayton Act
c) Sherman Act
d) All of the above

Company objectives should be
a) specific
b) Realistic
c) compatable
d) all of the above

The pure food and drug act was started to regulate
a) product warranty
b) unsanitary meat packing practices
c) vitamins
d) all of the above

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