B116 - Ch.2 Flashcards
The demand for higher education is delaying the age of marriage in Canada.
Select one:
True
False
True
What is the term given to the generation of people simultaneously trying to take care of dependent children and aging relatives?
Select one:
a.
mini-boomers
b.
caregivers
c.
sandwich
d.
blended family
e.
dependers
c.
sandwich
Which type of Canadian market is regulated by the government to ensure that market control is limited?
Select one:
a.
oligopoly
b.
pure competition
c.
monopoly
d.
monopolistic competition
e.
direct competition
c.
monopoly
A brand that has entered the market late and is content for its market share to be lower than a more dominant brand is called a
Select one:
a.
market laggard.
b.
status quo brand.
c.
nicher.
d.
challenger.
e.
market follower.
e.
market follower.
To secure future success, companies must recognize Canada’s cultural diversity by targeting and meeting the needs of various ethnic groups.
Select one:
True
False
True
What is the best description of gross domestic product?
Select one:
a.
The total value of goods and services produced annually in a country.
b.
The total value of goods and services available for sale in domestic markets.
c.
The total value of goods and services imported annually into a country.
d.
The total value of goods and services exported annually from a country.
e.
The total value of goods and services produced by a domestic manufacturer.
a.
The total value of goods and services produced annually in a country.
Which Industry Canada bureau would investigate a proposed merger between the country’s two largest home retailers?
Select one:
a.
Bureau of Communications Policy
b.
Competition Bureau
c.
Bureau of Fair Competition
d.
Office of Consumer Affairs
e.
Bureau of Corporate Affairs
b.
Competition Bureau
An individual born in 1968 is part of the “baby bust” generation.
Select one:
True
False
True
Which of the following was the fastest growing economy in the Group of Seven Industrialized Democracies (G7) in 2017?
Select one:
a.
France
b.
Germany
c.
Italy
d.
Japan
e.
Canada
e.
Canada
Which of the following would have the greatest positive impact on your U.S. vacation plans?
Select one:
a.
The U.S. experiences a recession.
b.
The North American Free Trade Agreement is terminated.
c.
Your airline merges with a European carrier.
d.
The value of the Canadian dollar relative to the U.S. dollar increases by 5 cents.
e.
The value of the Canadian dollar drops by 5 cents relative to the U.S. dollar.
Feedback
d.
The value of the Canadian dollar relative to the U.S. dollar increases by 5 cents.
Consumers are expressing a stronger concern for health and welfare. Marketers are responding by
Select one:
a.
making changes to their products by packaging smaller single-serving sizes.
b.
lobbying governments to change the laws around food labelling.
c.
ensuring that health claims are at the forefront of all marketing communications efforts.
d.
completely restructuring all their product lines to align with these concerns.
e.
helping Canadians find more free time by reducing the working hours of company staff.
a.
making changes to their products by packaging smaller single-serving sizes.
What is the term for a competitive strategy from substitute products offering the same benefits to customers?
Select one:
a.
pure competition
b.
indirect competition
c.
free enterprise
d.
alternate competition
e.
direct competition
b.
indirect competition
What kind of market structure is pure competition?
Select one:
a.
One where there are few firms.
b.
One where the difference between one company’s product over another company’s product is not that clear to consumers.
c.
One where one firm serves the market.
d.
One where firms offer a unique marketing mix based on price and other variables.
e.
One where products are clearly distinguished by brand names.
b.
One where the difference between one company’s product over another company’s product is not that clear to consumers.
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.”
Select one:
True
False
True
What is the ultimate goal of CRM marketing?
Select one:
a.
to simplify the collection of market research information
b.
to develop market strategies for each customer
c.
to reduce the costs of acquiring a new customer
d.
to mass market via computers
e.
to zero in on a market niche
b.
to develop market strategies for each customer
An increasing number of Canadian children are born and raised outside of marriage.
Select one:
True
False
True
The people born in the mini-boom that occurred in the late 1980s are now more frequently referred to as Generation Y, or millennials.
Select one:
True
False
True
Market leader refers to the company with the highest level of recognition in the mind of the target market.
Select one:
True
False
False
Given the forecasts regarding the aging trends of the Canadian population, which of the following product segments is likely to grow the most?
Select one:
a.
products that extend longevity and vitality
b.
toys
c.
infant products
d.
educational services and products
e.
fashion clothing and accessories
Feedback
a.
products that extend longevity and vitality
When the Canadian dollar is worth $0.85 USD, what is the effect on Canadian-produced goods?
Select one:
a.
They are attractive to U.S. buyers because they are a lower price than U.S.-produced goods.
b.
They are unattractive to U.S. buyers because they risk supporting a weak economy.
c.
They are unattractive to U.S. buyers because they are a higher price than U.S.-produced goods.
d.
They are attractive to U.S. buyers because the higher Canadian quality justifies the high prices.
e.
They are unattractive to U.S. buyers because they are subject to tariffs and duties.
a.
They are attractive to U.S. buyers because they are a lower price than U.S.-produced goods.
