Test Bank For THINK Marketing 3rd Edition by Keith J. Tuckwell

THINK Marketing 3rd Edition by Keith J. Tuckwell Test Bank

THINK Marketing, 3e

Chapter 2: The External Marketing Environment

Chapter 2   The External Marketing Environment

1) Governments and industry regulators have minimal impacts on marketing decisions.

Answer: FALSE

Diff: 1 Type: TF Page Ref: 32

Skill: Recall 

LO: 1

2) A monopoly is a market situation in which a few large firms control the market. 

Answer: FALSE

Diff: 2 Type: TF Page Ref: 34

Skill: Recall 

LO: 2

3) Indirect competition is competition from substitute products that offer customers the same benefit. 

Answer: TRUE

Diff: 1 Type: TF Page Ref: 36

Skill: Recall

LO: 2

4) Market leader refers to the company with the highest level of recognition in the mind of the target market.

Answer: FALSE

Diff: 2 Type: TF Page Ref: 37

Skill: Recall

LO: 2

5) A small airline like Porter Air that focuses on providing in-flight experiences not offered by WestJet and Air Canada could be called a market nicher.

Answer: TRUE

Diff: 2 Type: TF Page Ref: 38

Skill: Applied

LO: 2

6) In Canada, the Competition Act is the entity that regulates the legal environment for marketing and other business practices in Canada.

Answer: FALSE

Diff: 3 Type: TF Page Ref: 39

Skill: RecallLO: 3

7) Canadians are protected by multiple privacy laws that place limits on collection, use, and disclosure of personal info.

Answer: TRUE

Diff: 1 Type: TF Page Ref: 39

Skill: Recall

LO: 3

8) The total value of goods and services produced in a country on an annual basis is called the GDP or Gross Domestic Product.

Answer: TRUE

Diff: 1 Type: TF Page Ref: 41

Skill: RecallLO: 4

9) If inflation rises, a $50,000 income in 2006 will be worth more than it would have been in 2005.

Answer: FALSE

Diff: 3 Type: TF Page Ref: 43

Skill: AppliedLO: 4

10) A lower bank rate can help boost the economy by making it less expensive for businesses and individuals to borrow money.

Answer: TRUE

Diff: 1 Type: TF Page Ref: 43

Skill: Recall

LO: 4

11) As Canadians work more and longer hours, businesses are adjusting by offering convenience services. 

Answer:  TRUE

Diff: 1   Type: TF   Page Ref: 44

Skill:  RecallLO: 5

12) A beverage company that donates 1% of their sales to charities while producing profitable, environmentally sustainable drink bottles is focused on the “triple bottom line.”

Answer: TRUE

Diff: 2 Type: TF Page Ref: 45

Skill: AppliedLO: 5

13) Consumers doing research online is evidence that education and technology are producing more informed consumers.

Answer: TRUE

Diff: 1 Type: TF Page Ref: 45

Skill: Applied 

LO: 5

14) More Canadians than ever before are moving to rural areas.

Answer:  FALSE

Diff: 2   Type: TF   Page Ref: 47

Skill:  Recall

LO: 5

15) The people born in the mini-boom that occurred in the late 1980s are now more frequently referred to as Generation Y, or millennials.

Answer:  TRUE

Diff: 2   Type: TF   Page Ref: 46

Skill:  RecallLO: 5