Question 1

Describe the four generational cohorts that are of interest to marketers today.

Accepted Answer

Today's marketers are interested in the ...

Question 2

The ________ makes it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly.

Accepted Answer

A)   Fair Trade Act
B)   Clayton Act
C)   Lanham Act
D)   Robinson-Patman Act
E)   Unfair Practices ActF) A) and C)
G) A) and B)

Question 3

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Accepted Answer

The Sherman Antitrust Act (1890) was the...

Question 4

All of the following federal laws are designed to protect consumers except which?

Accepted Answer

A)   Consumer Product Safety Act.
B)   FTC Act of 1914.
C)   Telephone Consumer Protection Act.
D)   Digital Millennium Copyright Act.
E)   Child Protection Act.F) None of the above
G) A) and E)

Question 5

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

Accepted Answer

A)   a mega monopoly.
B)   an oligopoly.
C)   a pure competition.
D)   a monopolistic competition.
E)   a pure monopoly.F) A) and B)
G) All of the above

Question 6

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Accepted Answer

A)   Lanham Act.
B)   Federal Trade Commission Act.
C)   Robinson-Patman Act.
D)   Sherman Antitrust Act.
E)   Clayton Act.F) A) and B)
G) B) and C)

Question 7

Colgate's "Every Drop Counts" water conservation campaign asks consumers to pledge to save water by turning off the faucet while brushing their teeth. This is an example of which increasingly common cultural value?

Accepted Answer

A)   social action
B)   competition
C)   reducing inequality among competing brands
D)   believing in fate
E)   reducing cognitive dissonanceF) C) and E)
G) B) and D)

Question 8

When a customer buys Avon's Pink Power Pro Nail Enamel, 100 percent of the profits go to Avon Breast Cancer Crusade. This is an example of

Accepted Answer

A)   philanthropic marketing.
B)   corporate altruism.
C)   cause marketing.
D)   the marketing concept.
E)   societal marketing.F) B) and C)
G) A) and E)

Question 9

Corporate culture refers to

Accepted Answer

A)   a formalized method for controlling the marketing environment.
B)   the set of accepted standards and practices within a given industry.
C)   the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.
D)   the set of values, ideas, and attitudes that is learned and shared among the members of an organization.
E)   the formal statement of ethical principles and rules of conduct adopted by an organization.F) A) and E)
G) B) and C)

Question 10

Which of the following would be identified as a social force in an environmental scan?

Accepted Answer

A)   a new consumer protection law
B)   an increase in Asian immigration
C)   an introduction of advanced technology
D)   a decrease in consumer incomes
E)   a new international firm exporting to the United StatesF) All of the above
G) B) and E)

Question 11

Which of the following is an example of green marketing?

Accepted Answer

A)   McDonald's added apple snacks to its Happy Meals targeted at children.
B)   Lowe's and Home Depot discontinued the sale of lumber and other wood products.
C)   Levi-Strauss marketed prewashed jeans.
D)   Joe's Lawn Service offered a special spring cleanup promotion.
E)   Walmart implemented buying practices that encourage its suppliers to use containers and packing made from corn, not petroleum-based resins.F) A) and B)
G) C) and D)

Question 12

In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

Accepted Answer

A)   echo-boomers
B)   Millennials
C)   Generation Yers
D)   baby boomers
E)   baby bustersF) C) and D)
G) B) and C)

Question 13

Many consumers are committed to brands with a strong link to social action. An example of this would be

Accepted Answer

A)   McDonald's "I'm Lovin' It" campaign.
B)   Colgate's "Every Drop Counts" campaign.
C)   Diesel's "Be Stupid" campaign.
D)   Liz Claiborne's "Claiborne for Men" campaign.
E)   Samsung's "The Jitterbug" campaign.F) C) and E)
G) None of the above

Question 14

Lava.com is an Internet company that helps other organizations implement marketing strategies to aid them in dominating their industry. Lava's advertising states, "We ignore the rules, and we let no obstacle stand in your company's way-no matter how bold or impossible your idea may seem." The company is composed of eighteen bright young Internet experts. They work in one large room, which also contains dartboards, a pool table, and a meditation center. If you were to walk into the office, it would be next to impossible to tell the company owners from its lowest-ranking employee. This best describes the Internet company's

Accepted Answer

A)   modus operandi.
B)   mission or vision.
C)   socialization process.
D)   business definition.
E)   corporate culture.F) A) and B)
G) C) and E)

Question 15

Source Perrier S.A., the supplier of Perrier bottled water, exercised ________ when it recalled 160 million bottles of water in 120 countries after traces of a toxic chemical were found in 13 bottles. The recall cost the company $35 million and the profit from $40 million in lost sales. Even though the chemical level was not harmful to humans, the president of the company believed it was his duty to remove "the least doubt, as minimal as it might be, to weigh on the image of the quality and purity of our product."

Accepted Answer

A)   moral idealism
B)   utilitarianism
C)   cause marketing
D)   profit responsibility
E)   stakeholder responsibilityF) C) and D)
G) B) and C)

Question 16

Business culture affects ethical conduct both in the exchange relationship between sellers and buyers and in the

Accepted Answer

A)   competitive behavior among sellers.
B)   purchase behavior among buyers.
C)   price, service, and product responsibility to the ultimate consumer.
D)   accountability of buyers and sellers to federal and state regulators.
E)   perception of ethical behavior as viewed by employers of business firms, not nonprofit organizations.F) B) and E)
G) A) and E)

Question 17

How does technology affect customer value?

Accepted Answer

Technological forces affect customer val...

Question 18

The social forces in the environment include the ________ of the population and its culture.

Accepted Answer

A)   living standards
B)   social classes
C)   cohorts
D)   ethics
E)   demographic characteristicsF) D) and E)
G) A) and C)

Question 19

Culture refers to

Accepted Answer

A)   the set of values, ideas, and attitudes that are learned and shared among members of a group.
B)   the music, art, theater, etc., that reflects the values of an entire nation.
C)   the learned behaviors of a specific racial, ethnic, or religious group based on commonly shared ethical principles and protected by laws.
D)   the combination of beliefs and behaviors accepted as correct regardless of a person's age, sex, race, or religion.
E)   the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.F) A) and E)
G) A) and B)

Question 20

At the U.S. Census Bureau, gross income is referred to as

Accepted Answer

A)   buying power.
B)   cash inflow.
C)   fiscal power.
D)   money income.
E)   household income.F) B) and E)
G) A) and E)

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

All of the following federal laws are designed to protect consumers except which?

Correct Answer
verified

In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

Correct Answer
verified

Which of the following would be identified as a social force in an environmental scan?

Correct Answer
verified

At the U.S. Census Bureau, gross income is referred to as

Correct Answer
verified

Business culture affects ethical conduct both in the exchange relationship between sellers and buyers and in the

Correct Answer
verified

Which of the following is an example of green marketing?

Correct Answer
verified

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Correct Answer
verified
The Sherman Antitrust Act (1890) was the...
View Answer

Corporate culture refers to

Correct Answer
verified

Colgate's "Every Drop Counts" water conservation campaign asks consumers to pledge to save water by turning off the faucet while brushing their teeth. This is an example of which increasingly common cultural value?

Correct Answer
verified

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Correct Answer
verified

Correct Answer
verified

The ________ makes it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly.

Correct Answer
verified

The social forces in the environment include the ________ of the population and its culture.

Correct Answer
verified

Correct Answer
verified

Describe the four generational cohorts that are of interest to marketers today.

Correct Answer
verified
Today's marketers are interested in the ...
View Answer

Many consumers are committed to brands with a strong link to social action. An example of this would be

Correct Answer
verified

Correct Answer
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When a customer buys Avon's Pink Power Pro Nail Enamel, 100 percent of the profits go to Avon Breast Cancer Crusade. This is an example of

Correct Answer
verified

Culture refers to

Correct Answer
verified

How does technology affect customer value?

Correct Answer
verified
Technological forces affect customer val...
View Answer

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

All of the following federal laws are designed to protect consumers except which?

Correct AnswerverifiedShow Answer

In a recent issue of AARP The Magazine, a print ad for State Farm Insurance annuities advises readers that "The company has helped you enjoy your time with the kids and it can now help you enjoy your time without them." The ad is most likely targeted toward which generational cohort?

Correct AnswerverifiedShow Answer

Which of the following would be identified as a social force in an environmental scan?

Correct AnswerverifiedShow Answer

At the U.S. Census Bureau, gross income is referred to as

Correct AnswerverifiedShow Answer

Business culture affects ethical conduct both in the exchange relationship between sellers and buyers and in the

Correct AnswerverifiedShow Answer

Which of the following is an example of green marketing?

Correct AnswerverifiedShow Answer

Explain the difference(s) between the Sherman Antitrust Act, the Clayton Act, and the Robinson-Patman Act, all of which were enacted to protect competition.

Correct AnswerverifiedThe Sherman Antitrust Act (1890) was the...View AnswerShow Answer

Corporate culture refers to

Correct AnswerverifiedShow Answer

Colgate's "Every Drop Counts" water conservation campaign asks consumers to pledge to save water by turning off the faucet while brushing their teeth. This is an example of which increasingly common cultural value?

Correct AnswerverifiedShow Answer

The first major federal legislation passed to forbid actual monopolies or attempts to monopolize any part of trade or commerce in the United States was the

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The ________ makes it unlawful to discriminate in prices charged to different purchasers of the same product, where the effect may substantially lessen competition or help to create a monopoly.

Correct AnswerverifiedShow Answer

The social forces in the environment include the ________ of the population and its culture.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Describe the four generational cohorts that are of interest to marketers today.

Correct AnswerverifiedToday's marketers are interested in the ...View AnswerShow Answer

Many consumers are committed to brands with a strong link to social action. An example of this would be

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When a customer buys Avon's Pink Power Pro Nail Enamel, 100 percent of the profits go to Avon Breast Cancer Crusade. This is an example of

Correct AnswerverifiedShow Answer

Culture refers to

Correct AnswerverifiedShow Answer

How does technology affect customer value?

Correct AnswerverifiedTechnological forces affect customer val...View AnswerShow Answer

Correct Answer
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Correct Answer
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The Sherman Antitrust Act (1890) was the...
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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Correct Answer
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Correct Answer
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Correct Answer
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Today's marketers are interested in the ...
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Technological forces affect customer val...
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