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marketing chapter three
Terms in this set (20)
The higher percentage of U.S. exports to Canada and Mexico rather than to other individual countries can be attributed to the
North American Free Trade Agreement.
A country has a GDP of $23 million during the first quarter of 2019. During the next two quarters, it records a GDP of $21 million and $20.5 million, respectively. This trend can be classified as a(n)
The _____ authorizes the Federal Trade Commission to restrict unfair or deceptive acts.
Assuming that a kilo of corn sold for $1 in 2010 and $3 in 2018, which of the following can be inferred?
The purchasing power of the consumers has decreased.
What is the major difference between a nonprofit organization and a for-profit organization?
The benefactors of nonprofit organizations do not receive any direct benefit, unlike customers.
Which pair of products can be regarded as substitute products?
butter and margarine
If the economy of a country contracts and people lose jobs
consumer confidence decreases.
Which strategy caters to the sociocultural factor of busier families in America?
the launch of online ticket-booking options
Metro FM and Star are radio stations in direct competition with each other. The target audience for both radio stations is the same, with most of the stations' income coming from commercials. Which of the following strategies can Star use to differentiate its services from Metro FM?
It can offer content that is not available on Metro FM.
A recession occurs when a nation's GDP
declines for two or more consecutive quarters.
Marketers are attracted to countries with a growing middle class because a nation's
purchasing capability tends to increase as the proportion of middle-income households increases.
How the value of one country's currency changes in relation to the value of other currencies is the premise behind
Why do marketers tend to target educated consumers?
They are more likely to comprehend an advertising message.
Which is a function of the World Trade Organization?
It is the only international organization dealing with the rules of trade between nations.
Smith Brothers, a furniture manufacturer based in North Carolina, has tie-ups with raw material suppliers and shipping companies who provide Smith Brothers a uniform pricing option across the United States. Despite the cost of production and distribution being the same across the United States, Smith Brothers charges more for its products on the West Coast than in other parts of the United States. Which of the following acts prohibits this practice?
Which statement is true about various demographics in the United States?
Seniors are more likely to complain and require more attention than their younger counterparts.
What is the most common gauge of the overall expansion or contraction of an economy?
gross domestic product
One of the functions of the International Monetary Fund is to
help member countries manage their debt by providing resources to them.
Indirect competition occurs when
products provide alternative solutions to the same market.
What is the relationship between purchasing power and inflation?
Purchasing power decreases with rising inflation.
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