Question 1

The restrictions that state and federal laws place on business with regard to the conduct of its activities are referred to as

Accepted Answer

A)   jurisprudence.
B)   competitive constraints.
C)   barriers to entry.
D)   restraints of trade.
E)   regulation.F) None of the above
G) A) and B)

Question 2

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

Accepted Answer

A)   pure competition.
B)   monopolistic competition.
C)   an oligopoly.
D)   a monopoly.
E)   marginal competition.F) B) and E)
G) A) and C)

Question 3

A recent study of business executives reported that ________ percent had witnessed ethically troubling behavior.

Accepted Answer

A)   7
B)   18
C)   25
D)   45
E)   63F) A) and B)
G) D) and E)

Question 4

Though registration under the Lanham Act provides important advantages to a trademark owner,

Accepted Answer

A)   copyright protection is preferred for most branding in the United States.
B)   foreign firms are not allowed to register.
C)   it has resulted in an anticompetitive environment for domestic firms.
D)   patent law is preferred for most branding in the United States.
E)   it does not confer ownership.F) None of the above
G) All of the above

Question 5

A code of ethics refers to

Accepted Answer

A)   a formal statement of moral and ethical business attitudes.
B)   a formal statement of ethical principles and rules of conduct.
C)   an informal guide of ethical principles that can guide challenging decisions.
D)   the written, signed document stating the beliefs and values of each employee in a firm.
E)   a firm's itemized list of business activities that are and are not consistent with the company's mission statement.F) A) and D)
G) C) and D)

Question 6

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Accepted Answer

A)   electronic commerce.
B)   Internet barter.
C)   intranet exchange.
D)   electronic exchange.
E)   extranet trade.F) A) and B)
G) C) and D)

Question 7

Green marketing is

Accepted Answer

A)   the purchasing of products from producers whose farming practices are Fair Trade certified.
B)   the marketing efforts taken by new and smaller companies that lack both the experience and resources of their major competitors.
C)   the marketing efforts to produce, promote, and reclaim environmentally sensitive products.
D)   the marketing of products that have in no way been altered or reprocessed by artificial means.
E)   the marketing of those products made exclusively from recycled materials.F) A) and D)
G) B) and C)

Question 8

The legal concept of "let the buyer beware," which was pervasive in the American business culture before the 1960s, is referred to as

Accepted Answer

A)   ad nauseum.
B)   mea culpa.
C)   quid pro quo.
D)   ćest la vie.
E)   caveat emptor.F) C) and D)
G) A) and C)

Question 9

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.

Accepted Answer

A)   regulatory
B)   sociocultural
C)   competitive
D)   technological
E)   marketing mixF) All of the above
G) C) and D)

Question 10

After paying high taxes and covering the costs of high expenses for necessities, if a consumer's ________ is still high, she may be able to take advantage of the luxurious vacation travel opportunities like staying at the Ritz Carlton in New York City's Central Park.

Accepted Answer

A)   savings rate
B)   gross income
C)   taxes
D)   discretionary income
E)   disposable incomeF) A) and B)
G) A) and C)

Question 11

Projections show that the population is

Accepted Answer

A)   growing rapidly in North America.
B)   declining sharply in Australia.
C)   decreasing in Africa.
D)   increasing in India.
E)   increasing in Eastern Europe.F) B) and D)
G) All of the above

Question 12

Marketing efforts to produce, promote, and reclaim environmentally sensitive products are referred to as

Accepted Answer

A)   green marketing.
B)   recycle marketing.
C)   cause marketing.
D)   environmental marketing.
E)   recycling.F) A) and D)
G) D) and E)

Question 13

Arrowhead brand Mountain Spring Water changed its bottle by reducing the size of its label by one-third, using 30 percent less plastic, and making the bottle more flexible for easier recycling. These efforts are part of the company's goal to engage in

Accepted Answer

A)   sustainable development.
B)   market development.
C)   an oligopoly.
D)   cause marketing.
E)   environmental downsizing.F) B) and D)
G) B) and C)

Question 14

A Toyota dealership in British Columbia, Canada, donated $50 to the Make-A-Wish Foundation of Canada for each Toyota purchased during a particular month. This is an example of how a small business can engage in

Accepted Answer

A)   philanthropic marketing.
B)   cause marketing.
C)   marketing altruism.
D)   public relations marketing.
E)   societal marketing.F) A) and B)
G) All of the above

Question 15

Approximately what percentage of U.S. households has an annual income between $25,000 and $99,999?

Accepted Answer

A)   13
B)   28
C)   37
D)   42
E)   51F) None of the above
G) D) and E)

Question 16

A recent survey found that 79 percent of Internet and e-commerce companies take absolutely no social responsibility. Even more worrying is the finding that 75 percent of these Internet companies justify this omission on the grounds that they don't have any environmental or social impacts, while 55 percent said they didn't have time to think about these issues, and 50 percent said they didn't have the expertise to address them. Would these Internet-based companies benefit from acting more socially responsible? Explain your answer.

Accepted Answer

Social responsibility encompasses profit...

Question 17

The clandestine collection of trade secrets or proprietary information about a company's competitors is referred to as

Accepted Answer

A)   economic espionage.
B)   industrial espionage.
C)   marketplace espionage.
D)   industrial surveillance.
E)   patent infringement.F) C) and D)
G) A) and B)

Question 18

By 2030, the U.S. population is expected to exceed

Accepted Answer

A)   273 million.
B)   314 million.
C)   323 million.
D)   359 million.
E)   414 million.F) C) and D)
G) A) and B)

Question 19

Regulation refers to

Accepted Answer

A)   the restrictions that state and federal laws place on business with regard to the conduct of its activities.
B)   constraints placed on businesses for activities that are legal but unethical.
C)   society's values and standards that are enforceable in the courts.
D)   requirements concerning which customers a firm may serve or not serve.
E)   the moral principles and values that govern the actions and decisions of an individual or group.F) B) and E)
G) A) and E)

Question 20

Cause marketing refers to

Accepted Answer

A)   charitable contributions of a firm being tied directly to the customer revenues produced through the promotion of one of its products.
B)   organizational efforts to improve the state of people, the planet, and profit simultaneously to achieve sustainable, long-term growth.
C)   marketing services provided at little or no cost for the purpose of promoting or supporting a worthy cause.
D)   marketing efforts to produce, promote, and reclaim environmentally sensitive products.
E)   marketing actions that actually caused more good than was anticipated.F) A) and B)
G) All of the above

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

Marketing efforts to produce, promote, and reclaim environmentally sensitive products are referred to as

Correct Answer
verified

Projections show that the population is

Correct Answer
verified

The legal concept of "let the buyer beware," which was pervasive in the American business culture before the 1960s, is referred to as

Correct Answer
verified

Arrowhead brand Mountain Spring Water changed its bottle by reducing the size of its label by one-third, using 30 percent less plastic, and making the bottle more flexible for easier recycling. These efforts are part of the company's goal to engage in

Correct Answer
verified

A code of ethics refers to

Correct Answer
verified

Approximately what percentage of U.S. households has an annual income between $25,000 and $99,999?

Correct Answer
verified

Though registration under the Lanham Act provides important advantages to a trademark owner,

Correct Answer
verified

By 2030, the U.S. population is expected to exceed

Correct Answer
verified

A recent study of business executives reported that ________ percent had witnessed ethically troubling behavior.

Correct Answer
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Correct Answer
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Green marketing is

Correct Answer
verified

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Correct Answer
verified

The restrictions that state and federal laws place on business with regard to the conduct of its activities are referred to as

Correct Answer
verified

A Toyota dealership in British Columbia, Canada, donated $50 to the Make-A-Wish Foundation of Canada for each Toyota purchased during a particular month. This is an example of how a small business can engage in

Correct Answer
verified

After paying high taxes and covering the costs of high expenses for necessities, if a consumer's ________ is still high, she may be able to take advantage of the luxurious vacation travel opportunities like staying at the Ritz Carlton in New York City's Central Park.

Correct Answer
verified

The clandestine collection of trade secrets or proprietary information about a company's competitors is referred to as

Correct Answer
verified

Cause marketing refers to

Correct Answer
verified

Correct Answer
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Social responsibility encompasses profit...
View Answer

Regulation refers to

Correct Answer
verified

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.

Correct Answer
verified

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

Marketing efforts to produce, promote, and reclaim environmentally sensitive products are referred to as

Correct AnswerverifiedShow Answer

Projections show that the population is

Correct AnswerverifiedShow Answer

The legal concept of "let the buyer beware," which was pervasive in the American business culture before the 1960s, is referred to as

Correct AnswerverifiedShow Answer

Arrowhead brand Mountain Spring Water changed its bottle by reducing the size of its label by one-third, using 30 percent less plastic, and making the bottle more flexible for easier recycling. These efforts are part of the company's goal to engage in

Correct AnswerverifiedShow Answer

A code of ethics refers to

Correct AnswerverifiedShow Answer

Approximately what percentage of U.S. households has an annual income between $25,000 and $99,999?

Correct AnswerverifiedShow Answer

Though registration under the Lanham Act provides important advantages to a trademark owner,

Correct AnswerverifiedShow Answer

By 2030, the U.S. population is expected to exceed

Correct AnswerverifiedShow Answer

A recent study of business executives reported that ________ percent had witnessed ethically troubling behavior.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Green marketing is

Correct AnswerverifiedShow Answer

Any activity that uses electronic communication in the inventory, promotion, distribution, purchase, and exchange of products and services is referred to as

Correct AnswerverifiedShow Answer

The restrictions that state and federal laws place on business with regard to the conduct of its activities are referred to as

Correct AnswerverifiedShow Answer

A Toyota dealership in British Columbia, Canada, donated $50 to the Make-A-Wish Foundation of Canada for each Toyota purchased during a particular month. This is an example of how a small business can engage in

Correct AnswerverifiedShow Answer

After paying high taxes and covering the costs of high expenses for necessities, if a consumer's ________ is still high, she may be able to take advantage of the luxurious vacation travel opportunities like staying at the Ritz Carlton in New York City's Central Park.

Correct AnswerverifiedShow Answer

The clandestine collection of trade secrets or proprietary information about a company's competitors is referred to as

Correct AnswerverifiedShow Answer

Cause marketing refers to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedSocial responsibility encompasses profit...View AnswerShow Answer

Regulation refers to

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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Social responsibility encompasses profit...
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