Question 1

Which of the following is the dominant household structure in Canada?

Accepted Answer

A)  Married couples.
B)  Blended Families with more than two children.
C)  One-person households.
D)  Cohabitating couples with children.E) A) and B)
F) All of the above

Question 2

Internet access has changed the way consumers communicate with each other and with marketers.

Accepted Answer

A) True 
 B)False

Question 3

Andrew was born in 1996.Which of the following statements is most likely to be true about him?

Accepted Answer

A)  He will rarely use product offerings such as social media.
B)  He will be objective in his purchases.
C)  He is likely to be brand loyal to most products.
D)  He belongs to the least disruptive generation.E) B) and C)
F) C) and D)

Question 4

The total amount of money that Robert earns in a year is $100,000.He pays income tax $18,000 and other taxes of $6,000.He spends $15,000 to buy necessities. What is Robert's gross income?

Accepted Answer

A)  $100,000
B)  $82,000
C)  $76,000
D)  $67,000E) None of the above
F) A) and B)

Question 5

Describe the areas under which the Advertising Standards Canada (ASC) encourages truth in advertising

Accepted Answer

Advertising Standards Canada (ASC) encou...

Question 6

_____ is the term used to describe people born between 1946 and 1965.

Accepted Answer

A)  Generation X
B)  Generation Z
C)  Generation Y
D)  Baby boomerE) A) and D)
F) C) and D)

Question 7

Which of the following is a basic function of the Competition Bureau?

Accepted Answer

A)  endorsing marketing performance in Canada
B)  curtailing false and misleading representations to sell products
C)  establishing perfect competition in Canadian markets
D)  monitoring digital information available to customersE) All of the above
F) B) and C)

Question 8

Which of the following refers to the type of competition that occurs when a few companies control a market?

Accepted Answer

A)  monopolistic competition
B)  oligopoly
C)  duopoly
D)  monopolyE) B) and C)
F) None of the above

Question 9

Direct competitors refer to _____.

Accepted Answer

A)  products that have the shortest life cycle in a market
B)  very similar products sold in the same category
C)  products that are used by the same customer
D)  dissimilar products that compete in the same marketE) All of the above
F) C) and D)

Question 10

Which of the following groups of people are mostly children of baby boomers?

Accepted Answer

A)  Generation X
B)  Generation Y
C)  Youth boomer
D)  Net generationE) A) and B)
F) B) and C)

Question 11

Products such as grains and vegetables cannot function in an environment where perfect competition exists.

Accepted Answer

A) True 
 B)False

Question 12

Recently, Canadians have moved towards purchasing more fresh, local and ethnic food options.

Accepted Answer

A) True 
 B)False

Question 13

Marketers are responding to socio-cultural changes in what areas?

Accepted Answer

A)  Financial slowdown
B)  Unstable markets
C)  Communications and the media
D)  Group attitudesE) A) and B)
F) A) and C)

Question 14

Socio-cultural forces refer to cultural values, ideas, and attitudes that are learned and shared among a group of people.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following refers to the problem of big city dwelling that Canada is facing?

Accepted Answer

A)  Big cities in the country lag behind the other cities in growth rates.
B)  Most Canadians live in urban areas or their suburbs.
C)  Population of women is greater in urban areas than in rural areas.
D)  Population growth has been declining in big cities of Canada.E) A) and B)
F) A) and C)

Question 16

Which of the following statements is true of monopolistic competition?

Accepted Answer

A)  Monopolistic competition is driven by price competition rather than differentiation.
B)  Large numbers of sellers compete with each other in monopolistic competition.
C)  Monopolistic competition occurs when a few companies control a market.
D)  Companies that sell commodities are in a monopolistic competition.E) None of the above
F) A) and B)

Question 17

Which of the following is a valid observation of monopolies?

Accepted Answer

A)  Monopolies are an illegal form of business in most countries including Canada.
B)  The effect of substitute products is prominent in a monopoly.
C)  This is the most common form of market competition.
D)  A monopoly exists when there is only one company selling in the market.E) A) and B)
F) B) and C)

Question 18

Which of the following differentiates a firm's strengths from its opportunities?

Accepted Answer

A)  Companies can create opportunities, whereas they cannot build strengths.
B)  Strengths are positive attributes, whereas opportunities can be positive or negative.
C)  Strengths are internal aspects, whereas opportunities are external aspects.
D)  Strengths are situational variables, whereas opportunities are person variables.E) C) and D)
F) B) and D)

Question 19

Which of the following is a key difference between disposable income and discretionary income?

Accepted Answer

A)  Discretionary income refers to the after-tax income, whereas disposable income refers to the before-tax income.
B)  Unlike disposable income, discretionary income is used to pay for food and clothing.
C)  Discretionary income will always be more than disposable income.
D)  Unlike disposable income, discretionary income is used only for purchases that are not deemed a necessity.E) C) and D)
F) A) and C)

Question 20

Which of the following is an item that people are less likely to purchase, if their discretionary income is very low?

Accepted Answer

A)  sweater
B)  flour
C)  milk
D)  concert ticketsE) None of the above
F) B) and C)

Exam 2: The Marketing Environment

Which of the following refers to the type of competition that occurs when a few companies control a market?

Correct AnswerverifiedShow Answer

Which of the following is a valid observation of monopolies?

Correct AnswerverifiedShow Answer

Recently, Canadians have moved towards purchasing more fresh, local and ethnic food options.

Correct AnswerverifiedShow Answer

Describe the areas under which the Advertising Standards Canada (ASC) encourages truth in advertising

Correct AnswerverifiedAdvertising Standards Canada (ASC) encou...View AnswerShow Answer

_____ is the term used to describe people born between 1946 and 1965.

Correct AnswerverifiedShow Answer

Marketers are responding to socio-cultural changes in what areas?

Correct AnswerverifiedShow Answer

Socio-cultural forces refer to cultural values, ideas, and attitudes that are learned and shared among a group of people.

Correct AnswerverifiedShow Answer

Products such as grains and vegetables cannot function in an environment where perfect competition exists.

Correct AnswerverifiedShow Answer

Andrew was born in 1996.Which of the following statements is most likely to be true about him?

Correct AnswerverifiedShow Answer

Which of the following is a basic function of the Competition Bureau?

Correct AnswerverifiedShow Answer

Which of the following is the dominant household structure in Canada?

Correct AnswerverifiedShow Answer

The total amount of money that Robert earns in a year is $100,000.He pays income tax $18,000 and other taxes of $6,000.He spends $15,000 to buy necessities. What is Robert's gross income?

Correct AnswerverifiedShow Answer

Which of the following is a key difference between disposable income and discretionary income?

Correct AnswerverifiedShow Answer

Which of the following statements is true of monopolistic competition?

Correct AnswerverifiedShow Answer

Internet access has changed the way consumers communicate with each other and with marketers.

Correct AnswerverifiedShow Answer

Which of the following is an item that people are less likely to purchase, if their discretionary income is very low?

Correct AnswerverifiedShow Answer

Which of the following differentiates a firm's strengths from its opportunities?

Correct AnswerverifiedShow Answer

Which of the following groups of people are mostly children of baby boomers?

Correct AnswerverifiedShow Answer

Which of the following refers to the problem of big city dwelling that Canada is facing?

Correct AnswerverifiedShow Answer

Direct competitors refer to _____.

Correct AnswerverifiedShow Answer

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Advertising Standards Canada (ASC) encou...
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