Question 1

The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as

Accepted Answer

A)   stakeholder responsibility.
B)   social responsibility.
C)   profit responsibility.
D)   utilitarianism.
E)   moral idealism.F) B) and D)
G) C) and D)

Question 2

Which of the following is a socializing force that dictates what is morally right and just?

Accepted Answer

A)   federal regulatory agencies such as the FTC
B)   federal, state, and local legislation
C)   the U.S. Supreme Court
D)   culture
E)   organizational core valuesF) A) and E)
G) C) and E)

Question 3

For 18 months, Warner-Lambert Co., an American pharmaceutical company, was required to include the following statement in all television advertisements for Listerine: "Listerine will not help prevent colds or sore throats or lessen their severity." The Federal Trade Commission (FTC)  imposed this requirement because previous advertising had caused consumers to believe Listerine was effective against colds. This is an example of the FTC action known as

Accepted Answer

A)   corrective advertising.
B)   deceptive advertising.
C)   unethical advertising.
D)   cease and desist advertising.
E)   self-regulation.F) A) and C)
G) None of the above

Question 4

Which one of the following statements most accurately distinguishes between laws and ethics?

Accepted Answer

A)   Laws reflect the beliefs of the majority of society while ethics reflect the beliefs of the minority of society.
B)   Ethics deal with religious and moral beliefs while laws deal with social, economic, and environmental behaviors.
C)   Ethics deal with internal (personal)  issues while laws deal with external (social)  issues.
D)   There is no significant difference between laws and ethics; these terms can be used interchangeably.
E)   Ethics deal with personal moral principles and values whereas laws are society's values that are enforceable in the courts.F) All of the above
G) D) and E)

Question 5

A firm conducting an environmental scan of the marketplace might uncover key ________, such as the growing popularity of brand advocates, the increasing application of virtual and augmented reality, and the surging scrutiny regarding the collection and use of consumer data.

Accepted Answer

A)   profits
B)   responsibilities
C)   idealisms
D)   codes
E)   trendsF) A) and B)
G) C) and E)

Question 6

Investors should understand that when purchasing stock, the principle of ________ is in effect. It is in the best interests of investors to do research on the company, so they will make a wise purchase.

Accepted Answer

A)   modus operandi
B)   e pluribus unum
C)   de facto marketing
D)   ćest la vie
E)   caveat emptorF) A) and D)
G) A) and C)

Question 7

Spending on which of the following would be considered discretionary?

Accepted Answer

A)   health care
B)   housing
C)   furniture
D)   clothing
E)   transportationF) D) and E)
G) A) and D)

Question 8

The purpose of the Clayton Act is to

Accepted Answer

A)   provide incentives for interstate commerce.
B)   forbid actions that are likely to lessen competition, although no actual harm has yet occurred.
C)   exact compensation from firms found guilty of violating fair trade practices.
D)   repeal provisions of the Sherman Antitrust Act that stifled innovation.
E)   strengthen the Robinson-Patman Act.F) B) and D)
G) D) and E)

Question 9

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.

Accepted Answer

A)   social
B)   competitive
C)   regulatory
D)   technological
E)   economicF) B) and C)
G) All of the above

Question 10

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Accepted Answer

A)   substitute firms.
B)   target markets.
C)   complementary firms.
D)   cross product marketers.
E)   competition.F) B) and E)
G) B) and D)

Question 11

Technological advances can sometimes replace or substitute for existing products in a relatively short period. Apple Pay for iPads and iPhones is most likely to replace or substitute for

Accepted Answer

A)   financial market trades.
B)   digital video recorders.
C)   credit cards and cash.
D)   printed catalogs.
E)   online banking.F) B) and D)
G) A) and C)

Question 12

Toyota employs all of the following business practices as part of "The Toyota Way" except which?

Accepted Answer

A)   kaizen (continuous improvement) .
B)   genchi genbutsu (empowering people) .
C)   respect.
D)   challenge.
E)   competition.F) D) and E)
G) B) and E)

Question 13

Explain the difference between societal culture and business culture.

Accepted Answer

Societal culture provides a foundation f...

Question 14

MasterCard International links usage of its card with fund-raising for institutions that combat cancer, heart disease, child abuse, and muscular dystrophy. MasterCard gives a modest percentage of charges from its credit card charges to the institutions. What is this called and how does it affect cardholders' behavior?

Accepted Answer

This practice is called cause marketing,...

Question 15

Cosco, the world's largest children's products company, recently sold a high chair that could be used as an infant feeding seat, a youth chair, a play chair, a booster chair, and when reclined, an infant bed for $49. The prototypes had been tested by Cosco employees who had small children, but this was the only product testing performed. Once sold, several children were injured and some died as a result of using the chair. Cosco was charged with being unconcerned about consumers' right to

Accepted Answer

A)   choose.
B)   be informed.
C)   be treated courteously.
D)   safety.
E)   happiness.F) A) and B)
G) D) and E)

Question 16

The purpose of the Robinson-Patman Act is to

Accepted Answer

A)   outlaw price discrimination for purchasers of the same product.
B)   establish regulated monopolies for utilities.
C)   protect inventors from having their intellectual property stolen.
D)   repeal the Sherman Antitrust Act.
E)   provide incentives for interstate commerce.F) D) and E)
G) A) and D)

Question 17

The most recent estimates indicate that the population of the world today is about

Accepted Answer

A)   3.9 billion.
B)   5.2 billion.
C)   7.4 billion.
D)   8.2 billion.
E)   9.5 billion.F) None of the above
G) A) and E)

Question 18

Define technology. How does it affect marketing?

Accepted Answer

Technology refers to inventions or innov...

Question 19

Two prominent personal moral philosophies that have direct bearing on marketing practice are

Accepted Answer

A)   existentialism and pragmatism.
B)   pragmatism and idealism.
C)   moral idealism and utilitarianism.
D)   social responsibility and personal ethics.
E)   moral relativism and situational ethics.F) A) and B)
G) A) and D)

Question 20

Ethics refers to the

Accepted Answer

A)   religious tenets of a country or ethnic region that shape its culture.
B)   social norms of a nation, community, or family.
C)   values and standards of society that are enforceable in the courts.
D)   moral principles and values that govern the actions and decisions of an individual or group.
E)   universal laws of man that go beyond an individual or a group's beliefs of nations or religions.F) C) and D)
G) A) and E)

Exam 3: Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Correct Answer
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Investors should understand that when purchasing stock, the principle of ________ is in effect. It is in the best interests of investors to do research on the company, so they will make a wise purchase.

Correct Answer
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The most recent estimates indicate that the population of the world today is about

Correct Answer
verified

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Correct Answer
verified

The purpose of the Clayton Act is to

Correct Answer
verified

The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as

Correct Answer
verified

Technological advances can sometimes replace or substitute for existing products in a relatively short period. Apple Pay for iPads and iPhones is most likely to replace or substitute for

Correct Answer
verified

Two prominent personal moral philosophies that have direct bearing on marketing practice are

Correct Answer
verified

A firm conducting an environmental scan of the marketplace might uncover key ________, such as the growing popularity of brand advocates, the increasing application of virtual and augmented reality, and the surging scrutiny regarding the collection and use of consumer data.

Correct Answer
verified

The purpose of the Robinson-Patman Act is to

Correct Answer
verified

Explain the difference between societal culture and business culture.

Correct Answer
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Societal culture provides a foundation f...
View Answer

Correct Answer
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Which one of the following statements most accurately distinguishes between laws and ethics?

Correct Answer
verified

Correct Answer
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This practice is called cause marketing,...
View Answer

Spending on which of the following would be considered discretionary?

Correct Answer
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Ethics refers to the

Correct Answer
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Which of the following is a socializing force that dictates what is morally right and just?

Correct Answer
verified

Define technology. How does it affect marketing?

Correct Answer
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Technology refers to inventions or innov...
View Answer

Toyota employs all of the following business practices as part of "The Toyota Way" except which?

Correct Answer
verified

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.

Correct Answer
verified

Exam 3: Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Correct AnswerverifiedShow Answer

Investors should understand that when purchasing stock, the principle of ________ is in effect. It is in the best interests of investors to do research on the company, so they will make a wise purchase.

Correct AnswerverifiedShow Answer

The most recent estimates indicate that the population of the world today is about

Correct AnswerverifiedShow Answer

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Correct AnswerverifiedShow Answer

The purpose of the Clayton Act is to

Correct AnswerverifiedShow Answer

The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as

Correct AnswerverifiedShow Answer

Technological advances can sometimes replace or substitute for existing products in a relatively short period. Apple Pay for iPads and iPhones is most likely to replace or substitute for

Correct AnswerverifiedShow Answer

Two prominent personal moral philosophies that have direct bearing on marketing practice are

Correct AnswerverifiedShow Answer

A firm conducting an environmental scan of the marketplace might uncover key ________, such as the growing popularity of brand advocates, the increasing application of virtual and augmented reality, and the surging scrutiny regarding the collection and use of consumer data.

Correct AnswerverifiedShow Answer

The purpose of the Robinson-Patman Act is to

Correct AnswerverifiedShow Answer

Explain the difference between societal culture and business culture.

Correct AnswerverifiedSocietal culture provides a foundation f...View AnswerShow Answer

Correct AnswerverifiedShow Answer

Which one of the following statements most accurately distinguishes between laws and ethics?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThis practice is called cause marketing,...View AnswerShow Answer

Spending on which of the following would be considered discretionary?

Correct AnswerverifiedShow Answer

Ethics refers to the

Correct AnswerverifiedShow Answer

Which of the following is a socializing force that dictates what is morally right and just?

Correct AnswerverifiedShow Answer

Define technology. How does it affect marketing?

Correct AnswerverifiedTechnology refers to inventions or innov...View AnswerShow Answer

Toyota employs all of the following business practices as part of "The Toyota Way" except which?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Societal culture provides a foundation f...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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This practice is called cause marketing,...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Technology refers to inventions or innov...
View Answer

Correct Answer
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Correct Answer
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