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

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Question 71

Multiple Choice

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In 1970,the typical U.S.household earned about $8 ,700.In 2013,the typical U.S.household earned about $51 ,939.If adjusted for inflation,the gross income of the typical U.S.household in 2013 relative to 1970 has

A) increased dramatically.
B) increased somewhat.
C) remained relatively stable.
D) decreased somewhat.
E) decreased dramatically.

F) B) and E)
G) A) and E)

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Question 72

Multiple Choice

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Corporate culture refers to

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 C)
G) None of the above

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Question 73

Multiple Choice

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Members of Generation Y,also known as __________,are interested in sustainability including sustainable campus communities.

The recognition of the need for organizations to improve the state of people,the planet,and profit simultaneously if they are to achieve sustainable,long-term growth is referred to as

The Better Business Bureau

In many geographic areas,there is only a single provider for gas and electric service for businesses and consumers.However,the government regulates that firm to ensure price protection for the buyer.This is an example of

Increases in discretionary income can occur as a result of all of the following except which?

The form of competition in which many sellers compete with substitutable products within a price range is called

A personal moral philosophy that considers individual rights or duties as universal,regardless of the outcome,is referred to as

A company can protect its competitive position under __________,which gives inventors of new and novel products the right to exclude others from making,using,or selling products that infringe on the invention.

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?

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.

There are three concepts of social responsibility,each relating to particular constituencies.Profit responsibility is characterized by

Business culture affects ethical behavior in competition.Briefly discuss the two most common kinds of unethical competitive behavior.In answering,provide concrete examples for both.

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

Eighty percent of consumers say they will switch to a brand or retailer that supports a good cause if the price and quality of brands or retailers are equal.In short,cause marketing may be a valued _______________ for brands and companies,all other things being equal.

An Arizona cardiac surgery practice agreed to pay the U.S.Department of Health and Human Services a $100,000 settlement following an investigation of potential violations of the Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules.The practice posted clinical and surgical appointments for its patients on an Internet-based calendar that was publicly accessible,which drew complaints for failing to protect health information of consumers.HIPAA rules are an example of __________ forces in the marketing environment.

Which of the following statements best describes the activities of a whistle-blower?

Bribery is most likely to occur when

The Lemon Tree is a high-fashion boutique selling top-of-the-line women's clothing and accessories.The keys to its success include knowing customers' changing tastes and providing something different than other retailers.In addition,because of the high value of the merchandise,The Lemon Tree's management is investing in the use of computerized inventory controls and sales order processing.The least important environmental force to The Lemon Tree at this time is likely to be