Marketing Final Exam

With preventing corporations from using deceptive

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Unformatted text preview: nfair methods of competition in commerce. PTS: 1 REF: 51 Thinking KEY: CB&E Model Product OBJ: 04-7 TOP: AACSB Reflective MSC: BLOOMS Application 72. The _____ is an agency that prevents the use of unfair methods of competition in commerce. a. Federal Communications Commission b. Commerce Department c. Commission for Fair Trade d. Federal Trade Commission e. Sherman Antitrust Agency ANS: D The Federal Trade Commission is authorized to investigate the practices of business combinations and to conduct hearings on antitrust matters and deceptive advertising. PTS: 1 REF: 51-52 Thinking KEY: CB&E Model Strategy OBJ: 04-7 TOP: AACSB Reflective MSC: BLOOMS Knowledge 73. The number of firms a company must face, the relative size of these firms, and the degree of interdependence within the industry are all part of its _____ environment. a. demographic b. economic c. political d. competitive e. social ANS: D Management has little control over the competitive environment confronting a firm. PTS: 1 REF: 52 Thinking KEY: CB&E Model Strategy OBJ: 04-8 TOP: AACSB Reflective MSC: BLOOMS Knowledge 74. Frito-Lay is considered the king of the salty snack industry with its distribution network of 42 plants, 12,800 delivery people, and more than 900 tractor trailers formed into a retail delivery powerhouse. Smaller manufacturers of salty snacks find that monitoring the activities of FritoLay is an effective way to monitor the _____ factors within their external environments. a. bureaucratic b. marketing mix c. competitive d. social e. demographic ANS: C The competitive environment encompasses the number of competitors, the relative size of competitors, and the degree of interdependence within the industry. PTS: 1 REF: 52 Thinking KEY: CB&E Model Strategy OBJ: 04-8 TOP: AACSB Reflective MSC: BLOOMS Application 75. Abetta, Royal King, Kincade, EquiRoyal, and Amadeus are all manufacturers and marketers of Western-style saddles for horses. Thus, the manufacturers are _____ factors in each other’s external environments. a. component lifestyle b. competitive c. economic d. social e. legal and regulatory ANS: B The competitive environment encompasses the competition a firm must face. PTS: 1 REF: 52 Thinking KEY: CB&E Model Product OBJ: 04-8 TOP: AACSB Reflective MSC: BLOOMS Application 76. When many consumers think of adhesives, they think of 3M because it makes so many kinds of adhesives used in the home. However, the world’s largest adhesive producer is Henkel Consumer Adhesives, maker of Loctite and Duck brand duct tape. 3M and Henkel are part of each other’s _____ environment. a. competitive b. economic c. social d. marketing mix e. legal and political ANS: A The competitive environment encompasses the number of competitors a firm must face, the relative size of the competitors, and the degree of interdependence within the industry. PTS: 1 REF: 52 Thinking KEY: CB&E Model Strategy OBJ: 04-8 TOP: AACSB Reflective MSC: BLOOMS Application E-cigarettes Smok...
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This document was uploaded on 09/29/2013.

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