Exam 1: Chapter 1, 2, 3

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Question 1

2 / 2 pts

The purpose of copyright law is to

 

provide incentives for increased competition.

 

 

give inventors the right to exclude others from making, using, or selling products that infringe the patented invention.

 

 

level the playing field between inventors who work for large corporations and those who work on their own.

 

 

guarantee the quality and safety of any product produced or distributed in the United States.

 

 

give an author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work.

 

Copyright law gives the author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work.

 

Question 2

2 / 2 pts

The United States Army recently has been both praised and criticized for its use of a popular video game—America’s Army, which is designed to reach potential recruits. The game’s creator, Colonel Casey Wardynski, wanted to provide a sense of the training and teamwork one could find in the military environment. The game is designed for “boys 14 years or older,” which represent the Army’s __________.

 

mass market

 

 

actual recruits

 

 

restricted market

 

 

target market

 

 

untapped market

 

A target market is one or more specific groups of potential consumers toward which an organization directs its marketing program. In this case, although 14-year-old boys cannot serve in the military, a positive attitude or association with the game and its content now can lead to potential recruits in the future—the Army’s target market.

 

Question 3

2 / 2 pts

The Better Business Bureau (BBB) tries to use __________ to get its members to comply with its standards of business conduct.

 

the FTC

 

 

industry trade associations

 

 

moral suasion

 

 

the courts

 

 

competitors

 

An alternative to government control is self-regulation, where an industry attempts to police itself. The best-known self-regulation group is the BBB, which uses moral suasion to get members to comply with its standards in order to maintain fair practices.

 

Question 4

2 / 2 pts

Four factors are required for marketing to occur: (1) __________; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

 

a healthy competitive environment

 

 

government approval

 

 

a sense of social responsibility

 

 

an ability to see hidden potential within an environmental force

 

 

two or more parties (individuals or organizations) with unsatisfied needs

 

Four factors are required for marketing to occur: (1) two or more parties (individuals or organizations) with unsatisfied needs; (2) a desire and ability on their part to be satisfied; (3) a way for the parties to communicate; and (4) something to exchange.

 

Question 5

2 / 2 pts

A set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization is referred to as its ___________.

 

mission statement

 

 

core value proposition

 

 

corporate philosophy

 

 

core benefit proposition

 

 

organizational culture

 

Key term definition—organizational culture.

 

Question 6

2 / 2 pts

Environmental scanning refers to

 

assessing any possible negative impact a firm’s activities might have on the local ecology.

 

continually acquiring information on events occurring outside the organization to identify and interpret potential trends.

 

 

setting up a regular schedule to assess the performance of different divisions within a firm.

 

 

initiating an internal talent search to identify employees who can think “outside the box” to generate solutions to marketing problems caused by changes in the marketing environment.

 

requiring all employees to spend time outside the office to avoid the “ivory tower” syndrome.

Key term definition—environmental scanning.

 

Question 7

2 / 2 pts

The four Ps are commonly known as

 

the environmental or uncontrollable forces.

 

 

the environmental or controllable factors.

 

 

the marketing mix or controllable factors.

 

 

the marketing mix or uncontrollable forces.

 

 

predict, produce, package, and persuade.

 

Key term definition—marketing mix.

 

Question 8

2 / 2 pts

The Ameritrade ad shown above is targeted at which generational cohort?

 

echo-boomers

 

 

Generation Xers

 

 

Generation Yers

 

 

baby boomers

 

 

baby busters

 

Generally, baby boomers are receptive to products that focus on the planning for their retirement housing and finances.

 

Question 9

2 / 2 pts

The level in an organization where top management directs overall strategy for the entire organization is referred to as the

 

corporate level.