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

The money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation is referred to as

It had been the Campbell Soup Co.'s practice to insert clear glass marbles into the bottom of soup containers used in print advertisements to bring some of the soup's ingredients (e.g., noodles or chicken) to the surface, thus misrepresenting the amount of solid ingredients in the soup. Which agency would monitor such a practice?

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

How did President John F. Kennedy move American business culture away from the concept of caveat emptor in the 1960s?

Which generational cohort is also known as the baby bust? Describe the interests and lifestyles of this cohort and explain why it is important to marketers.

Which of the following statements about social responsibility is most accurate?

There are many diet aids on the market. They promise immediate weight loss without exercise or a change in diet. Each is accompanied by a testimonial from a satisfied user. If you pay close attention, you will notice that each ad also contains the statement, "Results may vary." Most likely this statement is included to prevent the Federal Trade Commission (FTC) from requiring the dietary aid distributor to

The portion of one's income that remains after paying for taxes and necessities is referred to as

This year the Shafer family has dined at nice restaurants almost four times a week. Between raises received by Mr. and Mrs. Shafer, their family income rose 11 percent, while the cost of living rose by 4 percent and property taxes went up 5 percent in their community. As a result, the family eats outside the home more often now, compared to dining out only a few times a month a few years ago. This reflects

The Latin phrase caveat emptor is a legal concept that means

Recently, Chillafish recalled some of its Chillafish brand of children's balance bikes. The Consumer Product Safety Commission website stated that overinflated tires could cause the wheel rims to crack and send pieces of the plastic rim flying, posing a laceration hazard to consumers. Chillafish was responding to consumers' right to

FedEx and UPS are converting their delivery trucks with standard diesel engines to more fuel-efficient and cleaner hybrid-electric vehicles, which can cut fuel costs by half and lower fuel emissions by 90 percent. This is an example of

Self-regulation refers to

Economic espionage refers to

Stakeholder responsibility refers to

According to a Toyota executive, "After Superstorm Sandy, the Food Bank was having a problem fulfilling the needs of all the displaced residents, so we implemented a Toyota production system to help them package and distribute food more efficiently." This is an example of which concept of social responsibility?

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

Visa and MasterCard have recently been accused of violating antitrust laws by improperly fixing credit and debit card fees (known as swipe fees) paid by retailers to use their services, creating an anti-competitive environment. Legislation that prohibits price-fixing is an example of ________ forces that affect the marketing environment.

Small businesses make up a large portion of the competitive landscape for most businesses. There are approximately ________ small businesses in the United States.

In 1962, President John F. Kennedy outlined a Consumer Bill of Rights that codified the ethics of exchange between buyers and sellers. Which of the following is a major principle that was included?