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
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