120) According to the textbook, several new technologies are expected to have dramatic impacts
on marketing. Among those cited are
A) biotechnology, green technologies, natural user interfaces, and social networks.
B) neuron technology, lithium batteries, cloud computing, and wireless power.
C) crowdsourcing, genomics, QR codes, and weather manipulation.
D) the Internet of Things, autonomous vehicles, wearable technology, and artificial intelligence.
E) nanotechnology, autobots, cloud computing, and electric cars.
121) LG recently introduced a “connected” refrigerator that can track food expiration dates and
respond to voice commands. This is an example of a ________ change in the marketing
environment.
A) regulatory
B) sociocultural
C) competitive
D) technological
E) marketing mix
122) Oral-B toothbrushes now connect to your smartphone to provide real-time feedback on your
brushing. This is an example of how ________ forces help improve or replace existing products
and companies.
A) ecological
B) regulatory
C) legal
D) competitive
E) technological
123) Medication sensors have been developed that can dispense medicines by circulating within
the arteries of the body and sensing when the medication is needed. This is an example of how
________ forces help improve or replace existing products and companies.
A) ecological
B) regulatory
C) legal
D) competitive
E) technological
124) Recently, ink has been developed that will conduct electricity. The application for this ink
is to print circuitry that can be read electronically. This may help to drive down the cost of radio
frequency (RFID) tags that are currently used in industry. This is an example of how ________
forces are applied to industry.
A) ecological
B) regulatory
C) technological
D) competitive
E) marketing mix
125) One reason some people don’t like to buy clothing from Internet retailers is the inability to
know if the clothes will fit. ImageTwin uses a scanning system and stores an individual’s
measurements. When you shop at LandsEnd.com, you can see a 3-D image of what the item
should look like on your body. This is an example of the ________ force in the marketing
environment.
A) economic
B) technological
C) sociocultural
D) competitive
E) marketing mix
126) Cloud computing, such as Apple’s iCloud, enables businesses and consumers to share data
or use software applications directly from a remote server over the Internet or wirelessly rather
than having that data file or program reside on a personal computer. This is an example of a
________ change in the marketing environment.
A) regulatory
B) sociocultural
C) competitive
D) technological
E) marketing mix
127) Growth of green technologies such as smart grid electricity services, online energy
management, and consumer-generated energy are ________ forces that would be identified
through an environmental scan.
A) social
B) competitive
C) regulatory
D) technological
E) economic
128) The Electronic Signatures in Global and National Commerce Act makes digital signatures
as valid as pen-and-ink signatures. This act created a demand for software and hardware that
would collect, transmit, and receive digital signatures. This example indicates how ________
forces can work together in the marketing environment.
A) technological and regulatory
B) technological and competitive
C) social and competitive
D) social and economic
E) regulatory and economic
129) Marketspace refers to
A) the two-way buyer-seller electronic communication in a computer-mediated environment in
which the buyer controls the kind and amount of information received from the seller.
B) websites that allow people to congregate online and exchange views on topics of common
interest.
C) Internet search engines used for the purpose of data mining.
D) an information- and communication-based electronic exchange environment occupied by
sophisticated computer and telecommunication technologies and digital offerings.
E) the blending of different communication and delivery channels that are mutually reinforcing
in attracting, retaining, and building relationships with consumers who shop and buy in
traditional intermediaries and online.
130) An information- and communication-based electronic exchange environment mostly
occupied by sophisticated computer and telecommunications technologies and digital offerings is
referred to as
A) Internet marketing.
B) marketspace.
C) electronic commerce.
D) marketplace.
E) e-exchange.
131) Any activity that uses electronic communication in the inventory, promotion, distribution,
purchase, and exchange of products and services is referred to as
A) electronic commerce.
B) Internet barter.
C) intranet exchange.
D) electronic exchange.
E) extranet trade.
132) Electronic commerce refers to
A) an information- and communication-based electronic exchange environment mostly occupied
by sophisticated computer and telecommunications technologies and digitized offerings.
B) any activity that uses electronic communication in the inventory, promotion, distribution,
purchase, and exchange of products and services.
C) two-way buyer-seller electronic communication in a computer-mediated environment in
which the buyer controls the kind and amount of information received from the seller.
D) electronic storefronts that focus on converting an online browser into an online, catalog, or in-
store buyer.
E) electronic storefronts that advertise and promote a company’s products and services and
provide information on how items can be used and where they can be purchased.
133) Buying a book at www.amazon.com to give as a birthday present is an example of
________ transaction.
A) an i-market
B) an intranet
C) an electronic commerce
D) an extranet
E) a marketplace
134) Internet-based technology facilitates an intranet for business communication within an
organization and ________ to communicate with suppliers, distributors, and other partners such
as advertising agencies.
A) an i-market
B) an e-mart
C) electronic commerce
D) an extranet
E) a marketplace
135) The Internet of Things refers to
A) technological breakthroughs that allow major innovation to occur.
B) the network of products with connectivity-enabled electronics.
C) an explosion in interest in advanced analytics.
D) technological specifications that identify access to networks.
E) the belief in technology as a driver of success in the marketplace.
136) The network of products embedded with connectivity-enabled electronics has come to be
known as
A) marketspace.
B) the extranet.
C) the Internet of Things.
D) the cloud.
E) universal connection.
137) Alternative firms that could provide a product to satisfy a specific market’s needs are
referred to as
A) substitute firms.
B) target markets.
C) complementary firms.
D) cross product marketers.
E) competition.
138) Competition refers to
A) identical products that perform identical functions.
B) any for-profit organization that targets the customers of other organizations.
C) alternative firms that could provide a product to satisfy a specific market’s needs.
D) any product or service that vies for a portion of a customer’s discretionary income.
E) the set of firms that operate in a given geographic region, regardless of product or service.
139) In business, the four basic forms of competition are
A) pure competition, limited competition, oligopoly, and monopoly.
B) dictatorship, monarchy, oligarchy, and democracy.
C) pure competition, cross-market competition, oligopoly, and pure monopoly.
D) technological competition, market competition, governmental competition, and
environmental competition.
E) pure competition, monopolistic competition, oligopoly, and pure monopoly.
140) Many firms now use e-mail and the Internet to promote their products instead of sending
promotional literature to current and prospective customers through the mail. UPS and FedEx
continue to grow, offering both overnight and ground package delivery services. As a result, the
U.S. Postal Service (USPS) has lost millions of customers and billions in revenue. The USPS has
challenges ahead in coping with ________ forces in the marketplace.
A) economic
B) competitive
C) legal
D) social
E) ecological
141) The form of competition in which there are many sellers and they each have a similar
product is referred to as
A) pure competition.
B) singular competition.
C) an oligopoly.
D) monopolistic competition.
E) a monopoly.
142) Agribusinesses that sell commodity products such as wheat, rice, and corn are often in
________ position with their competitors.
A) a limited competition
B) a pure competition
C) an oligopolistic competition
D) a monopolistic competition
E) a monopolistic
143) ________ is the form of competition where distribution is the only element of the
marketing mix that exerts much of an impact on the firm.
A) Cross-market competition
B) Limited competition
C) Pure competition
D) Monopolistic competition
E) A monopoly
144) The form of competition in which many sellers compete with substitutable products within
a price range is called
A) pure competition.
B) cross-market competition.
C) an oligopoly.
D) monopolistic competition.
E) a monopoly.
145) The use of coupons is a frequently used marketing tactic for which form of competition?
A) pure competition
B) cross-market competition
C) an oligopoly
D) a monopoly
E) monopolistic competition
146) Paul Avery is a salesperson at the only Ford automobile dealership in Wausau, Wisconsin.
However, there are several other auto dealerships in town, offering both domestic and foreign
cars and trucks. Paul works hard to keep his customers satisfied because he knows that if his
customers are unhappy, they can simply buy a car from one of the several other comparable
dealers in Wausau. This marketing environment is an example of
A) pure competition.
B) monopolistic competition.
C) an oligopoly.
D) a monopoly.
E) marginal competition.
147) During the holiday shopping season, many online retailers offer buyers price reductions,
coupons, two-for-one deals, or free delivery. This is because these retailers operate in ________
environment.
A) a pure competition
B) an oligopoly
C) a monopolistic competition
D) a monopoly
E) a marginal competition
148) The form of competition where just a few companies control the majority of industry sales
is referred to as
A) pure competition.
B) cross-market competition.
C) an oligopoly.
D) monopolistic competition.
E) a monopoly.
149) AT&T, Verizon, Sprint, and T-Mobile serve more than 95 percent of the subscribers in the
U.S. wireless mobile phone market. Which form of competition characterizes this market?
A) pure competition
B) limited competition
C) a monopoly
D) an oligopoly
E) monopolistic competition
150) Because there are few sellers, price competition among firms is avoided in which form of
competition?
A) pure competition
B) cross-market competition
C) a monopoly
D) monopolistic competition
E) an oligopoly
151) The entertainment industry in the United States is dominated by Viacom, Disney, and Time
Warner. In terms of the form of competition, this industry is an example of
A) a monopoly.
B) a mega monopoly.
C) a pure competition.
D) an oligopoly.
E) a monopolistic competition.
152) Only two companies, Intel and AMD, design the computer processors for nearly every
laptop and desktop sold in the U.S. today. Intel and AMD operate in which type of competitive
environment?
A) a monopoly.
B) a diopoly.
C) a pure competition.
D) an oligopoly.
E) a monopolistic competition.
153) The U.S. Securities and Exchange Commission has designated just nine credit-rating
agencies as nationally recognized statistical rating organizations, which include Moody’s,
Standard & Poor’s, and Fitch Ratings. These agencies provide opinions on the creditworthiness
of other entities and the financial obligations issued by them. Because so few companies can
compete in it, the credit-rating industry would be considered
A) a mega monopoly.
B) an oligopoly.
C) a pure competition.
D) a monopolistic competition.
E) a pure monopoly.
154) Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S.
defense contractor industry. In terms of the form of competition, this industry is an example of
A) an oligopoly.
B) a trilateral monopoly.
C) a pure monopoly.
D) a pure competition.
E) a monopolistic competition.
155) In marketing, the form of competition that occurs when only one firm sells the product is
referred to as
A) pure competition.
B) a megopoly.
C) an oligopoly.
D) monopolistic competition.
E) a pure monopoly.
156) Since ________ is typically regulated by the state or federal government, marketing plays a
relatively small role in this setting.
A) pure competition
B) a pure monopoly
C) an oligopoly
D) monopolistic competition
E) a megopoly
157) In many geographic areas, there is only a single provider for gas and electric service for
businesses and consumers. However, the government regulates that entity to ensure price
protection for the buyer. This is an example of
A) pure competition.
B) a pure monopoly.
C) an oligopoly.
D) monopolistic competition.
E) a megopoly.
158) The Federal Trade Commission investigated Google as potentially being ________, but
found that despite its very large market share, it had not harmed competition.
A) a pure competitor
B) an oligopoly
C) a monopolistic competitor
D) a monopoly
E) a megopoly
159) Small businesses make up a large portion of the competitive landscape for most businesses.
There are approximately ________ small businesses in the United States.
A) 17 million
B) 29 million
C) 39 million
D) 52 million
E) 97 million