Nova Southeastern University

MKT 5070

1)Each society contains , groups with shared values emerging from their special life experiences or circumstances.

1. 1. stakeholders
   2. cliques
   3. consumer bundles
   4. subcultures
   5. behavioral niches

2. Firms whose products require                                    resources—oil, coal, platinum, zinc, silver— face substantial cost increases as depletion approaches.
   1. infinite
   2. near finite
   3. finite renewable
   4. finite nonrenewable
   5. perishable

3. Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a "green marketing" program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program's chances of being successful?
   1. demonstrate that the products will benefit both customers and the society in the long- term
   2. emphasize benefits to the consumer rather than environmental benefits
   3. focus on the efforts and costs incurred by the company to bring these "green" products to consumers
   4. engage in "greenwashing" to highlight the environmental benefits of the product
   5. explain the rules and regulations laid out by governmental agencies to protect the environment

4. Which of the following is true about the technology trends that marketers should monitor?
   1. A growing portion of U.S. R&D expenditures are going toward the research side as opposed to the development side.
   2. Today, the time between idea and implementation is expanding.

1. 3. More single companies rather than consortiums are directing research efforts toward major breakthroughs.
   4. The pace of change is accelerating today.
   5. The government has decreased regulation of technological change.

5. Mandatory recycling laws have boosted the recycling industry and launched dozens of new companies making new products from recycled materials. Which of the following most closely resembles the situation discussed above?
   1. Government makes reforestation mandatory for lumbering firms leading to a rise in timber production.
   2. Government restricts industries from purchasing farmland thereby increasing agricultural produce.
   3. Government subsidizes export of beef to promote production of beef cattle.
   4. Government pollution control norms increase the production of pollution control equipments.
   5. Government restricts unfair trade practices to promote international trade.

6. An unintended effect of business legislation is                            .
   1. restricting fair competition in the market
   2. encouraging unbridled business behavior
   3. reducing the social cost of producing a particular commodity
   4. exposing consumers to unfair trade practices
   5. slowing economic growth

7. An important force affecting business is the                             movement, a movement of citizens and government organized to strengthen the rights and powers of buyers in relation to sellers.
   1. human rights
   2. consumerist
   3. environmental
   4. self-determination
   5. materialistic

8. The                        market is the set of consumers with an adequate interest, income, and access to a particular offer.
   1. potential
   2. available
   3. target
   4. penetrated
   5. reserve
9. The                        market is the part of the qualified available market the company decides to pursue.
   1. potential
   2. available
   3. target
   4. penetrated
   5. reserve  

10. The                        market is the set of consumers who are buying the company's product.
    1. potential
    2. available
    3. target
    4. penetrated
    5. reserve

11. When the government of any country restricts the sale of a particular commodity to certain groups—for example, restricting sales of alcohol to individuals above the age of 21—the eligible consumers who have income, interest, access and qualification constitute

the                      .

1. 1. accessible market
   2. target market
   3. potential market
   4. qualified potential market
   5. qualified available market

12. Jeanine would like to own a Mercedes but is unable to afford one at this time. Jeanine

is part of the

1. 1. potential market
   2. available market
   3. target market
   4. projected market
   5. penetrated market

13.                        for a product is the total volume that would be bought by a defined customer group in a defined geographical area in a defined time period in a defined marketing environment under a defined marketing program.
    1. Company demand
    2. Area market potential
    3. Market demand
    4. Company sales potential
    5. Total market potential

14. With an increase in marketing expenditure, market demand                           .
    1. continues to increase at an increasing rate
    2. initially increases and then declines
    3. increases first at an increasing rate, then at a decreasing rate
    4. decreases first and then spikes
    5. continues to increase at a decreasing rate.

15. The base sales of an organization that takes place even without any demand- stimulating expenditures is called                                                  .
    1. primary demand
    2. market potential
    3. market minimum
    4. optimum demand
    5. market demand

16. Only one level of industry marketing expenditure will actually occur. The market demand corresponding to this level is called the                                                                            .
    1. market minimum
    2. market share
    3. market forecast
    4. market potential
    5. company demand

17. During recession, the market demand curve which is a function of marketing

expenditure                      .

1. 1. shifts upward
   2. becomes vertical
   3. remains unaffected
   4. shifts downward
   5. slopes downward

18. The sales goal set for a product line, company division, or sales representative of an

organization is called                          .

1. 1. sales budget
   2. company sales forecast
   3. sales quota
   4. company sales potential
   5. market potential

19. A                         is a conservative estimate of the expected volume of sales, primarily for making current purchasing, production, and cash flow decisions.
    1. sales budget
    2. company sales forecast
    3. sales quota
    4. company sales potential
    5. market potential

20.                        is the limit approached by market demand as industry marketing expenditures approach infinity for a given marketing environment.
    1. Sales budget
    2. Company sales forecast
    3. Sales quota
    4. Company sales potential
    5. Market potential

21.                        is the company's estimated share of market demand at alternative levels of company marketing effort in a given time period.
    1. Sales budget
    2. Market demand
    3. Company demand
    4. Company sales potential
    5. Market potential

22.                        is the sales limit approached by company demand as company marketing effort increases relative to that of competitors.
    1. Sales budget
    2. Market demand
    3. Company demand
    4. Company sales potential
    5. Market potential

23. A company's sales potential would be equal to market potential if                              .
    1. the marketing expenditure of the company is reduced to zero
    2. industry marketing expenditures approach infinity for a given marketing environment
    3. the market is non expansible
    4. market minimum is equal to market potential
    5. the company gets 100 percent share of the market