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

Explain the difference between societal culture and business culture.

Define technology. How does it affect marketing?

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.

The idea that organizations are part of a larger society and are accountable to that society for their actions is referred to as

MasterCard International links usage of its card with fund-raising for institutions that combat cancer, heart disease, child abuse, and muscular dystrophy. MasterCard gives a modest percentage of charges from its credit card charges to the institutions. What is this called and how does it affect cardholders' behavior?

Toyota employs all of the following business practices as part of "The Toyota Way" except which?

Which of the following is a socializing force that dictates what is morally right and just?

The purpose of the Clayton Act is to

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

The purpose of the Robinson-Patman Act is to

A firm conducting an environmental scan of the marketplace might uncover key ________, such as the growing popularity of brand advocates, the increasing application of virtual and augmented reality, and the surging scrutiny regarding the collection and use of consumer data.

Growth of green technologies such as smart grid electricity services, online energy management, and consumer-generated energy are ________ forces that would be identified through an environmental scan.

Ethics refers to the

Which one of the following statements most accurately distinguishes between laws and ethics?

Cosco, the world's largest children's products company, recently sold a high chair that could be used as an infant feeding seat, a youth chair, a play chair, a booster chair, and when reclined, an infant bed for $49. The prototypes had been tested by Cosco employees who had small children, but this was the only product testing performed. Once sold, several children were injured and some died as a result of using the chair. Cosco was charged with being unconcerned about consumers' right to

Two prominent personal moral philosophies that have direct bearing on marketing practice are

Technological advances can sometimes replace or substitute for existing products in a relatively short period. Apple Pay for iPads and iPhones is most likely to replace or substitute for

Spending on which of the following would be considered discretionary?

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

The most recent estimates indicate that the population of the world today is about