MARK 201 Chapter 3 - question bank Introduction to Marketing (Concordia University) course exam questions and answers 2023

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) You are directed to study the actors close to the company that affect its ability to serve its 1) customers- departments within the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. What are you studying? A) the marketing environment B) the microenvironment C) the demographic environment D) the global environment E) the macroenvironment 2) Which of the following terms is used to describe the factors and forces outside marketing that affect 2) marketing management's ability to build and maintain successful relationships with target customers? A) strategic planning B) the cultural environment C) the marketing environment D) target markets E) the marketing mix 3) You are directed to study the demographic, economic, natural, technological, political, and cultural 3) factors that are larger societal forces affecting your company. What are you studying? A) the internal environment B) the marketing mix C) the global environment D) the macroenvironment E) the microenvironment 4) Which of the following is NOT a type of factor in a company's macroenvironment? 4) A) political B) demographic C) competitive D) economic E) technological 5) All of the groups within a company are called the . 5) A) internal environment B) diversity C) climate D) range E) culture 1 6) Which type of organization helps companies stock and move goods from their points of origin to 6) their destination? A) resellers B) marketing services agencies C) suppliers D) physical distribution firms E) financial intermediaries 7) Banks, credit companies, insurance companies, and other businesses that help finance transactions 7) or insure against the risks associated with the buying and selling of goods and services are referred to as . A) physical distribution firms B) marketing services agencies C) financial intermediaries D) resellers E) wholesalers 8) Currently, Diego Calabresa is employed by a firm that conducts marketing research and creates ads 8) for other companies that help them target and promote their products to the right markets. Who is Diego's employer? A) a financial intermediary B) a reseller C) a green marketer D) a physical distribution firm E) a marketing service agency 9) A is defined as any group that has an actual or potential interest in, or impact on, an 9) organization's ability to achieve its objectives. A) market B) intermediary C) public D) competitor E) team 10) Which of the following is NOT an example of the type of public that is part of a company's marketing environment? A) financial B) media C) marketing department D) citizen- action E) government 10) 11) A radio station that carries news, features, and editorial opinions about your local area would be classified as a public? A) citizen- action B) financial C) local D) media E) government 11) 2 stand on a local issue. Your firm is being challenged by a public. A) general B) citizen- action C) government D) media E) local 13) Workers, managers, and members of the board are all part of a company's public. 13) A) general B) local C) intermediary D) market E) internal 14) Percy Original caters to a market of individuals and households that buys goods and services for personal consumption. Percy Original caters to a market. A) marketing intermediary B) government C) reseller D) business E) consumer 14) 15) In a market, goods and services are purchased for further processing or for use in the production process. A) wholesale B) reseller C) business D) consumer E) retail 15) 16) In a market, goods and services are purchased to produce public services or to transferred to others who need them. A) retail B) government C) wholesale D) reseller E) consumer 16) 17) Rachel Patino works for a wholesale company called Distributors Unlimited. She is responsible for buying and selling goods at a profit to small retailers. What is her market? A) business B) reseller C) retail D) consumer E) wholesale 17) 18) Your marketing department is currently researching the size, density, location, age, and occupations of your target market. Which environment is being researched? A) geographic B) cultural C) economic D) psychographic E) demographic 18) 3 . A) teens B) toddlers C) Millennials D) tweens E) seniors 20) As a group, _ are the most affluent North Americans. 20) A) seniors B) Generation Xers C) the Millennials D) baby boomers E) echo boomers 21) Research has shown that the most important demographic trend in Canada is the . 21) A) slowing birth rate B) increasing number of professional jobs C) changing age structure of the population D) mobility of families E) aging population 22) The youngest of the baby boomers are now in their . 22) A) late 20s B) early 50s C) mid- 40s D) mid- 20s E) early 60s 23) Which of the following descriptions most accurately characterizes the baby boomers? 23) A) They control over 50 percent of the country’s wealth. B) They are past their peak earning and spending years. C) They are a shrinking market for new housing and home remodeling. D) They are increasingly likely to retire early. E) They are uninterested in adapting new technologies. 24) Which of the following descriptions most accurately characterizes Gen Xers? 24) A) They rarely research a product before purchasing it. B) They are more interested in acquiring goods than having experiences. C) There are more Gen Xers than Millennials. D) They were the first generation of latchkey kids. E) They grew up during times of great economic growth. 25) Which demographic group is also referred to as the echo boomers? 25) A) Generation X B) Generation Z C) Millennials D) baby boomers E) baby busters 4 lOMoARcPSD| 26) Large tween and teen markets belong to which demographic group? 26) A) baby busters B) Generation Z C) baby boomers D) Millennials E) Generation X 27) Which of the following descriptions most accurately characterizes Millennials? 27) A) They have reached their peak earning and spending years. B) They are children of baby boomers. C) They are less ethnically diverse than Gen Xers. D) They have graduated from college and are taking over positions of power in the business world. E) They were once labeled "the MTV generation." 28) Which demographic group is characterized by a total fluency and comfort with computer, digital, and Internet technology? A) the elderly B) Generation X C) baby boomers D) Millennials E) Generation Z 28) 29) About 43.5 percent of young Canadians aged 20 to 29 now live with their parents.This is indicative of what syndrome? A) lone- parent family B) shrinking household C) crowded nest D) empty nest E) early independence 29) 30) Ameriprise Financial has published a Dream Book guide, one of the first steps in their Dream Plan Track approach to financial planning, as part of their strategy to attract as customers. A) Gen Xers B) professionals C) baby boomers D) Millennials E) echo boomers 30) 31) Canadian women account for percent of this country's workforce. 31) A) 35 B) 40 C) 43 D) 59 E) 48 32) Which of the following is a trend that depicts the increasingly nontraditional nature of today's Canadian family? A) working women making up a smaller percentage of the workforce B) dual- income families declining in number C) the growth of lone- parent families headed by women D) the declining reliance on convenience foods and services E) stay- at- home dads declining in number 32) 5 lOMoARcPSD| 33) Which two Canadian provinces are now the top two choices when it comes to interprovincial moves? A) Saskatchewan and Manitoba B) Newfoundland and Labrador C) Nova Scotia and P.E.I. D) Ontario and Quebec E) Alberta and British Columbia 33) 34) What percentage of people classified as “serious technology users” reside in Ontario? 34) A) 46 B) 62 C) 12 D) 6 E) 25 35) Canadian cities are often surrounded by large suburban areas. Statistics Canada calls these combinations of urban and suburban populations . A) geographic combos B) rural/urban areas C) suburbs D) census metropolitan areas E) metropolises 35) 36) Recent research has shown that interprovincial moves and income are correlated. People who moved from one province to another tended to their earnings. A) double B) reduce C) limit D) increase E) reverse 36) 37) Fifteen percent of Canadian households report that they have a home office. These workers are referred to as the market. A) SOHO B) contract C) mobile D) micropolitan E) independent 37) 38) The Canadian population is becoming better educated. As of 2004, 59.1 percent of the population had A) university degrees or post- secondary certificates. B) an MBA. C) a high school diploma. D) post- graduate education. E) some post- secondary education. 38) 39) Because of increasing , Canadians will demand higher quality products, books, magazines, travel, personal computers, and Internet services. A) social class awareness B) levels of education C) family size D) numbers of nontraditional families E) ethnic diversity 39) 6 lOMoARcPSD| 40) Which of the following is an accurate statement about the diversity of the Canadian population? 40) A) Over 5 million Canadians identified themselves as visible minorities in the 2006 census. B) Members of visible minority groups could account for roughly half of the population by 2017. C) Canadian ethnic populations are expected to slowly increase in the next few decades. D) The Asian- Canadian percentage of the population is expected to remain steady in the next 50 years. E) Less than 8 ethnic groups in Canada are growing significantly and have well- developed media. 41) IKEA learned that religion plays a key role for which growing ethnic community in Canada ? 41) A) Caribbean B) Somalian C) Chinese D) Ukranian E) South Asian 42) In Canada, marketers can use a variety of media vehicles introduced to serve ethnic marketplaces. There are now 18 ethnic- specific _. A) television networks B) radio stations C) web sites D) magazines E) newspapers 42) 43) Which growing consumer group in Canada tends to be cosmopolitan and professional with high incomes? A) echo boomers B) gays and lesbians C) Millennials D) environmentalists E) Gen Xers 43) 44) Which group has considerable spending power, as well as great need for tailored products and services, and represents 14.3 percent of the Canadian population (4.4 million people)? A) millennials B) people with disabilities C) visible minorities D) gays and lesbians E) environmentalists 44) 45) The environment consists of factors that affect consumer purchasing power and spending patterns. A) natural B) cultural C) economic D) technological E) political 45) 7 lOMoARcPSD| 46) A country with a(n) economy consumes most of its own agricultural and industrial outputs and offers few market opportunities. A) industrial B) technological C) rural D) service E) subsistence 46) 47) A country with a(n) economy has rich markets for many different kinds of goods. 47) A) industrial B) developing C) service D) subsistence E) multicultural 48) Which of the following factors has NOT contributed to today's age of the "tapped- out consumer"? 48) A) rising incomes in the upper class B) savings for retirement C) debt repayment D) savings for college tuition E) increasing household expenses 49) Value marketing is the strategy of offering consumers . 49) A) little quality at a low price B) high quality at a high price C) reasonable quality at a fair price D) lesser quality at a low price E) luxury quality at a high price 50) Which of the following statements about income distribution in Canada is true? 50) A) The earnings of Canada's middle class are increasing. B) This distribution of income has created an untiered market. C) Wealth is widespread among Aboriginal reserves. D) Canadians in the top 5 percent of wage earners account for approximately 25 percent of the total income earned. E) The median earnings among the top 20 percent of Canadian full- time workers decreased over 16 percent since the last census. 51) In a tiered market, companies target which of the following? 51) A) consumers of modest means only B) professionals only C) affluent consumers only D) from the affluent to the less affluent E) the middle class only 52) Which of the following groups of expenses uses up the most household income? 52) A) food, housing, transportation B) housing, insurance, taxes C) housing, taxes, transportation D) food, housing, retirement planning E) food, travel, savings 8 lOMoARcPSD| 53) Ernst Engel's laws generally have been supported by recent studies. He discovered that as family income rises, the percentage spent on declines and the percentage spent on remains about constant. A) food; transportation B) clothing; recreation/entertainment C) recreation/entertainment; savings D) food; housing E) food; clothing 53) 54) The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the . A) raw material market B) endangered environment C) green movement D) natural environment E) factors of production 54) 55) What legislation did the Canadian government pass in order to establish stringent pollution- control measures as well as the means for their enforcement? A) the Consumer Packaging and Labelling Act B) the Competition Act C) the Personal Information Protection Act D) the Environmental Protection Act E) the Food and Drug Act) 55) 56) Which of the following has encouraged marketers to pursue environmentally sustainable strategies? A) the black market B) green intervention C) deregulation D) the green movement E) the competition act 56) 57) Which of the following marketing activities is forbidden by the Competition Act? 57) A) commodity labelling B) disclosure of personal information C) resale price maintenance D) sales of misbranded food E) cosmetics advertising 58) Marketers should be aware of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society. This is most accurately described as the environment. A) political B) legal- technological C) economic D) socio- legal E) cultural 58) 9 regulation. A) maximum B) private C) intermittent D) no E) at least some 60) Legislation affecting business around the world will continue to . 60) A) threaten the American domestic economy B) become standardized C) decrease D) increase E) remain steady 61) The legislation created that requires certain commodities to be properly labelled or described in advertising for the purpose of indicating material content or quality is called the . A) Consumer Packaging and Labelling Act B) Motor Vehicle Safety Act C) National Trade- mark and True Labelling Act D) Competition Act E) Food and Drug Act 61) 62) Business legislation has been created for three basic reasons: to protect companies from each other, to protect consumers, and to _. A) protect the interests of society B) regulate monopolies C) promote social responsibility D) regulate prices E) increase world trade 62) 63) The recent rash of business scandals and increased concerns about the environment have created fresh interest in the issues of _ _ and . A) ethics; promotion responsibility B) ethics; social responsibility C) finances; employee discrimination D) promotion; pricing E) management ethics; insider trading 63) 64) Cause- related marketing is a(n) . 64) A) response to corporate legislative problems B) primary form of corporate giving C) response to customer needs D) attempt to influence consumers' core beliefs E) primary form of environmental awareness 10 environment. A) social B) cultural- economic C) political D) cultural E) natural 66) Marketers should understand that a society's core beliefs and values have a high degree of . A) conformity B) persistence C) flexibility D) ethnocentrism E) similarity 66) 67) Your company is making negotiations to enter a market in Lower Albania. You would most likely discover that beliefs and values are open to change in this country. A) core B) primary C) secondary D) traditional E) inherited 67) 68) A society's are expressed in how people view themselves, organizations, society, nature, and the universe. A) economies B) social codes C) demographics D) cultural values E) public policies 68) 69) Trends in people's views of organizations indicate that which of the following has increased in the past twenty years? A) distrust in small, local businesses B) a loss of confidence in big businesses C) employees' loyalty to their employers D) confidence in Canadian political organizations E) employees' view of work as a source of satisfaction 69) 70) Watching the cultural trends of how people view society, observers have noted that more and more Canadians have a sense of _ . A) disenchantment B) ethnic awareness C) national pride D) global savvy E) foreign intolerance 70) 71) Which trend related to people's attitudes towards others suggests less demand for theatre- going and greater demand for home improvement, home office, and home entertainment products? A) the green movement B) renewed patriotism C) globalization D) sustainability E) cocooning 71) 11 lOMoARcPSD| 72) Which of the following statements regarding Canadians and spirituality is true? 72) A) 67 percent of adult Canadians regularly attend religious services. B) Canadians and Americans are going in opposite directions with regard to religion. C) Canadian marketers can't fail when picking up lifestyle ads from the United States. D) Attendance at religious services has been increasing gradually over the years. E) Canada is a very religious, almost puritanical country.