MKC1 study guide
1. How does cultural diversity affect marketing? By creating a need for new marketing technologies By requiring tailored marketing strategies By creating a need for changes in the legal environment of marketing By defining ethical issues in marketing
2. What element should marketing managers consider when scanning the competitive environment? Transfer price Supply chain management Reciprocity Substitute products
3. A group of producers of a particular product decided to all raise prices together and they were accused of overcharging consumers. Which federal law would have allowed the United States government to investigate this unfair method of competition? Sherman Antitrust Act Consumer Product Safety Act Robinson-Patman Act Federal Trade Commission Act
4. Which strategy will be best for the marketer to advocate while faced with a deflationary economic environment? Seek a long term contract guaranteeing the purchase price of its raw materials Increase spending on advertising and promotion Seek a long term contract guaranteeing the sale price of its product Increase pricing for its product to capture a greater market share
5. A marketer believes its product has become obsolete for all markets. The marketer feels that a new technology may have created a substitute product and created new desires for their former consumers. What is their best marketing alternative? Sell the product on the internet Investigate the new technology for opportunities opening in a new industry Sell the old product in foreign markets Increase advertising and promotion for the old product
6. Marketers in a foreign country have been extremely successful in selling a particular product to a specific target market. They decided to enter the United States market and continue their current sales and promotional tactics. What will likely be the outcome?
Targeting the market in the U.S., they will find that the market prefers products that are targeted toward a different
2. What element should marketing managers consider when scanning the competitive environment? Transfer price Supply chain management Reciprocity Substitute products
3. A group of producers of a particular product decided to all raise prices together and they were accused of overcharging consumers. Which federal law would have allowed the United States government to investigate this unfair method of competition? Sherman Antitrust Act Consumer Product Safety Act Robinson-Patman Act Federal Trade Commission Act
4. Which strategy will be best for the marketer to advocate while faced with a deflationary economic environment? Seek a long term contract guaranteeing the purchase price of its raw materials Increase spending on advertising and promotion Seek a long term contract guaranteeing the sale price of its product Increase pricing for its product to capture a greater market share
5. A marketer believes its product has become obsolete for all markets. The marketer feels that a new technology may have created a substitute product and created new desires for their former consumers. What is their best marketing alternative? Sell the product on the internet Investigate the new technology for opportunities opening in a new industry Sell the old product in foreign markets Increase advertising and promotion for the old product
6. Marketers in a foreign country have been extremely successful in selling a particular product to a specific target market. They decided to enter the United States market and continue their current sales and promotional tactics. What will likely be the outcome?
Targeting the market in the U.S., they will find that the market prefers products that are targeted toward a different