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

A personal moral philosophy that focuses on "the greatest good for the greatest number" by assessing the costs and benefits of the consequences of ethical behavior is referred to as

Western Digital, the Irvine, California-based maker of disk drives, recalled about 400,000 of its hard drives because of a faulty internal chip. The chip would not affect the disk drive motor until after six to 12 months of use. This delay in the problem's appearance meant that many consumers would not think to blame the disk drive manufacturer. But, instead of taking the less expensive route of remaining quiet about the problem, Western Digital chose to offer replacement disk drives for all those that had the faulty chip. This action is an example of

Recently, ink has been developed that will conduct electricity. The application for this ink is to print circuitry that can be read electronically. This may help to drive down the cost of radio frequency (RFID) tags that are currently used in industry. This is an example of how ________ forces are applied to industry.

In ________ economy, the cost to produce and buy products and services escalates as prices increase.

The economy is defined as

The total amount of money made in one year by a person, household, or family unit is referred to as ________ income.

The groups primarily served by a firm exhibiting stakeholder responsibility include

Charitable contributions of a firm that are tied directly to the customer revenues produced through the promotion of one of its products is known as

The 3M company stopped production of a chemical it had made for more than 40 years when tests showed the chemical could be accumulated in human tissue, even though the products in which it was used had no known harmful health or environmental effect. The voluntary action by 3M is an example of

The change in the growth of the world's population is called the

Which one of the following is a commonly held value in the United States today?

Each year, the U.S. Army shoots an estimated 200 million rounds of lead bullets at target practice areas across the United States. Pentagon officials, in response to environmentalists' concerns over lead poisoning in the soil, have invested over $12 million to develop an environmentally safe tungsten bullet. This is an example of one of the outcomes of

Members of Generation Z are most likely to influence marketers' offerings in which of these categories?

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

________ is the form of competition where distribution is the only element of the marketing mix that exerts much of an impact on the firm.

Protecting competition is the primary aim of which of these?

Internet-based technology facilitates an intranet for business communication within an organization and ________ to communicate with suppliers, distributors, and other partners such as advertising agencies.

A time of declining economic activity when businesses decrease production, unemployment rises, and many consumers have less money to spend is referred to as

Employees who report unethical or illegal actions of their employers are referred to as

According to the textbook, several new technologies are expected to have dramatic impacts on marketing. Among those cited are