Question 1

All of the following statements about a person's moral philosophy are true except which?

Accepted Answer

A)  Moral philosophy is usually in written form in the workplace. 
B)  Moral philosophy is learned through the process of socialization with family and friends. 
C)  Moral philosophy is influenced by the corporate culture a person is in. 
D)  Moral philosophy can be learned through formal education. 
E)  Moral philosophy is influenced by the societal culture a person is in. 
A)  Moral philosophy is usually in written form in the workplace. 
B)  Moral philosophy is learned through the process of socialization with family and friends. 
C)  Moral philosophy is influenced by the corporate culture a person is in. 
D)  Moral philosophy can be learned through formal education. 
E)  Moral philosophy is influenced by the societal culture a person is in.

Question 2

Though definitions are inconsistent, Generation Y, especially its younger members, are frequently associated with

Accepted Answer

A)  the echo bust. 
B)  the baby bust. 
C)  the lost generation. 
D)  the baby boomerang. 
E)  millennials. 
A)  the echo bust. 
B)  the baby bust. 
C)  the lost generation. 
D)  the baby boomerang. 
E)  millennials.

Question 3

Triple-bottom line refers to

Accepted Answer

A)  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. 
B)  the obligations an organization has to those who can affect achievement of its sales, profit, and market share objectives simultaneously. 
C)  the recognition of the need for organizations to be responsible simultaneously to shareholders, employees, and customers. 
D)  the obligations an organization has to practice profit, stakeholder, and societal responsibility simultaneously. 
E)  three different financial statements prepared in three different formats: one for governmental regulators, one for shareholders, and one for internal use. 
A)  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. 
B)  the obligations an organization has to those who can affect achievement of its sales, profit, and market share objectives simultaneously. 
C)  the recognition of the need for organizations to be responsible simultaneously to shareholders, employees, and customers. 
D)  the obligations an organization has to practice profit, stakeholder, and societal responsibility simultaneously. 
E)  three different financial statements prepared in three different formats: one for governmental regulators, one for shareholders, and one for internal use.

Question 4

Identify and describe the two types of personal moral philosophy.

Accepted Answer

Ultimately, ethical choices are based on

Question 5

During a recessionary period, which of the following economic behavior would be expected?

Accepted Answer

A)  Consumer would switch from premium brands to lower-priced ones. 
B)  Consumer use of credit would increase. 
C)  Taxes would increase nationally. 
D)  Property values would jump dramatically. 
E)  Consumers would use the majority of their discretionary income on groceries. 
A)  Consumer would switch from premium brands to lower-priced ones. 
B)  Consumer use of credit would increase. 
C)  Taxes would increase nationally. 
D)  Property values would jump dramatically. 
E)  Consumers would use the majority of their discretionary income on groceries.

Question 6

All of the following are economic indicators except which?

Accepted Answer

A)  inflation 
B)  barriers to entry 
C)  unemployment 
D)  GDP 
E)  deflation 
A)  inflation 
B)  barriers to entry 
C)  unemployment 
D)  GDP 
E)  deflation

Question 7

Technological advances can replace or substitute for existing products in a relatively short period. IBM's Watson is a likely replacement or substitute for

Accepted Answer

A)  TV broadcasts. 
B)  digital video recorders. 
C)  a customer service representative. 
D)  printed publications. 
E)  plastic credit cards. 
A)  TV broadcasts. 
B)  digital video recorders. 
C)  a customer service representative. 
D)  printed publications. 
E)  plastic credit cards.

Question 8

Technology is defined as

Accepted Answer

A)  any device or process based on scientific discoveries that are less than one year old. 
B)  any mechanical device used in the production or distribution of a product. 
C)  scientific findings that are used now or are able to generate a profit. 
D)  ideas or concepts that will one day be translated into usable devices, mechanisms, or processes. 
E)  the inventions or innovations from applied science or engineering research. 
A)  any device or process based on scientific discoveries that are less than one year old. 
B)  any mechanical device used in the production or distribution of a product. 
C)  scientific findings that are used now or are able to generate a profit. 
D)  ideas or concepts that will one day be translated into usable devices, mechanisms, or processes. 
E)  the inventions or innovations from applied science or engineering research.

Question 9

Which of the following statements regarding social forces is most accurate?

Accepted Answer

A)  Changes in social forces can have a dramatic impact on marketing strategy. 
B)  Social forces within an organization motivate employees to improve their productivity. 
C)  Social forces determine all of the other environmental forces that affect an organization. 
D)  Of all the environmental forces, social forces are the easiest for a marketer to manipulate. 
A)  Changes in social forces can have a dramatic impact on marketing strategy. 
B)  Social forces within an organization motivate employees to improve their productivity. 
C)  Social forces determine all of the other environmental forces that affect an organization. 
D)  Of all the environmental forces, social forces are the easiest for a marketer to manipulate.

Question 10

There are only three major recording labels in the world- Sony BMG, Universal Music Group, and Warner Music Group. They are responsible for the vast majority of music recordings that are made. Harry says that these three music companies operate as an oligopoly. Maryanne says that they operate as monopolistic competition. Explain how each came to his or her conclusion. Who is correct?

Accepted Answer

Monopolistic competition occurs when man

Question 11

Which of the following is considered one of the major factors that influences an individual's personal moral philosophy and ethical behavior?

Accepted Answer

A)  organizational structures 
B)  corporate culture and expectations 
C)  national and local legislation 
D)  the strength and stability of political parties 
E)  a nation's moral philosophy 
A)  organizational structures 
B)  corporate culture and expectations 
C)  national and local legislation 
D)  the strength and stability of political parties 
E)  a nation's moral philosophy

Question 12

Whistle-blowers refer to

Accepted Answer

A)  employees who are simultaneously employed by competing firms and who trade company secrets. 
B)  employees who blackmail or extort money from their employers. 
C)  employees who are coerced by their employers to participate in illegal or unethical activities. 
D)  customers who report unethical or illegal actions of the firms that market the offerings they purchased. 
E)  employees who report unethical or illegal actions of their employers. 
A)  employees who are simultaneously employed by competing firms and who trade company secrets. 
B)  employees who blackmail or extort money from their employers. 
C)  employees who are coerced by their employers to participate in illegal or unethical activities. 
D)  customers who report unethical or illegal actions of the firms that market the offerings they purchased. 
E)  employees who report unethical or illegal actions of their employers.

Question 13

When shopping on the Internet, most consumers assume their personal information is confidential. If a web retailer proposed sharing its customer information with its partners without telling users, this is related most directly to consumers' right to

Accepted Answer

A)  be heard. 
B)  be treated courteously. 
C)  safety. 
D)  quality. 
E)  be informed. 
A)  be heard. 
B)  be treated courteously. 
C)  safety. 
D)  quality. 
E)  be informed.

Question 14

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

Accepted Answer

A)  the gray market. 
B)  baby busters. 
C)  Generation X. 
D)  the baby boomerang. 
E)  millennials. 
A)  the gray market. 
B)  baby busters. 
C)  Generation X. 
D)  the baby boomerang. 
E)  millennials.

Question 15

A key difference between cause marketing and a charitable contribution is

Accepted Answer

A)  a charitable contribution provides an organization with a lower tax deduction. 
B)  there is no limit to the amount of charitable deductions a firm can make, but a firm is limited to the number of cause marketing efforts it can make during a fiscal year. 
C)  charitable donations are contributed at the sole discretion of the firm while the amount for cause marketing is directly affected by consumers' purchases. 
D)  cause marketing is generally linked to public causes and concerns while straight charitable contributions are generally given to private institutions. 
E)  there is essentially no difference between a charitable contribution and cause marketing. 
A)  a charitable contribution provides an organization with a lower tax deduction. 
B)  there is no limit to the amount of charitable deductions a firm can make, but a firm is limited to the number of cause marketing efforts it can make during a fiscal year. 
C)  charitable donations are contributed at the sole discretion of the firm while the amount for cause marketing is directly affected by consumers' purchases. 
D)  cause marketing is generally linked to public causes and concerns while straight charitable contributions are generally given to private institutions. 
E)  there is essentially no difference between a charitable contribution and cause marketing.

Question 16

During a recessionary period, which of the following economic behavior would be expected?

Accepted Answer

A)  Consumer spending would increase. 
B)  The use of credit would decline. 
C)  Taxes would increase nationally. 
D)  Property values would jump dramatically. 
E)  Consumers would use the majority of their discretionary income on entertainment. 
A)  Consumer spending would increase. 
B)  The use of credit would decline. 
C)  Taxes would increase nationally. 
D)  Property values would jump dramatically. 
E)  Consumers would use the majority of their discretionary income on entertainment.

Question 17

Small businesses employ about ________ of all private-sector employees.

Accepted Answer

A)  one-quarter 
B)  one-third 
C)  one-half 
D)  three-quarters 
E)  90 percent 
A)  one-quarter 
B)  one-third 
C)  one-half 
D)  three-quarters 
E)  90 percent

Question 18

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digital offerings is referred to as

Accepted Answer

A)  Internet marketing. 
B)  marketspace. 
C)  electronic commerce. 
D)  marketplace. 
E)  e-exchange. 
A)  Internet marketing. 
B)  marketspace. 
C)  electronic commerce. 
D)  marketplace. 
E)  e-exchange.

Question 19

The duty of a firm to maximize financial returns for its owners or stockholders is referred to as

Accepted Answer

A)  social responsibility. 
B)  value consciousness. 
C)  benefit marketing. 
D)  profit responsibility. 
E)  stakeholder responsibility. 
A)  social responsibility. 
B)  value consciousness. 
C)  benefit marketing. 
D)  profit responsibility. 
E)  stakeholder responsibility.

Question 20

Oil prices have an impact on transportation costs for many types of products. Should oil prices change, the price consumers pay for products is often adjusted accordingly. Changing oil prices would be an example of ________ force.

Accepted Answer

A)  a social 
B)  an economic 
C)  a technological 
D)  a competitive 
E)  a regulatory 
A)  a social 
B)  an economic 
C)  a technological 
D)  a competitive 
E)  a regulatory

All of the following statements about a person's moral philosophy are true except which?

Though definitions are inconsistent, Generation Y, especially its younger members, are frequently associated with

Triple-bottom line refers to

Identify and describe the two types of personal moral philosophy.

During a recessionary period, which of the following economic behavior would be expected?

All of the following are economic indicators except which?

Technological advances can replace or substitute for existing products in a relatively short period. IBM's Watson is a likely replacement or substitute for

Technology is defined as

Which of the following statements regarding social forces is most accurate?

Which of the following is considered one of the major factors that influences an individual's personal moral philosophy and ethical behavior?

Whistle-blowers refer to

When shopping on the Internet, most consumers assume their personal information is confidential. If a web retailer proposed sharing its customer information with its partners without telling users, this is related most directly to consumers' right to

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

A key difference between cause marketing and a charitable contribution is

During a recessionary period, which of the following economic behavior would be expected?

Small businesses employ about ________ of all private-sector employees.

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digital offerings is referred to as

The duty of a firm to maximize financial returns for its owners or stockholders is referred to as

Oil prices have an impact on transportation costs for many types of products. Should oil prices change, the price consumers pay for products is often adjusted accordingly. Changing oil prices would be an example of ________ force.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters

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

All of the following statements about a person's moral philosophy are true except which?

Though definitions are inconsistent, Generation Y, especially its younger members, are frequently associated with

Triple-bottom line refers to

Identify and describe the two types of personal moral philosophy.

During a recessionary period, which of the following economic behavior would be expected?

All of the following are economic indicators except which?

Technological advances can replace or substitute for existing products in a relatively short period. IBM's Watson is a likely replacement or substitute for

Technology is defined as

Which of the following statements regarding social forces is most accurate?

Which of the following is considered one of the major factors that influences an individual's personal moral philosophy and ethical behavior?

Whistle-blowers refer to

When shopping on the Internet, most consumers assume their personal information is confidential. If a web retailer proposed sharing its customer information with its partners without telling users, this is related most directly to consumers' right to

According to population estimates, ________ have recently surpassed baby boomers as the largest living generation, with 75 million people.

A key difference between cause marketing and a charitable contribution is

During a recessionary period, which of the following economic behavior would be expected?

Small businesses employ about ________ of all private-sector employees.

An information- and communication-based electronic exchange environment mostly occupied by sophisticated computer and telecommunications technologies and digital offerings is referred to as

The duty of a firm to maximize financial returns for its owners or stockholders is referred to as

Oil prices have an impact on transportation costs for many types of products. Should oil prices change, the price consumers pay for products is often adjusted accordingly. Changing oil prices would be an example of ________ force.

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Developing New Products and Services

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters