Deck 6: Primary Stakeholders: Customers

Question 1

In the marketing mix, the merchandise or services offered by the company that meet the requirements of the customers is

A)Place
B)Product
C)Promotion
D)Price
E)None of the above

Answer 1

B

Question 2

In the marketing mix, th process of setting the amounts for the products/services is

A)Place
B)Product
C)Marketing
D)Price
E)All of the above

Answer 2

D

Question 3

….Includes the tools used by marketers to make potential customers aware of the company's products or services and the benefits to the customers of buying these products or services:

A)Place
B)Product
C)Promotion
D)Price
E)Marketing

Answer 3

C

Question 4

For example, companies may sell directly to the end users or use distributors to get their product to the users, illustrate which of the 4Ps

A)Place
B)Product
C)Promotion
D)Price
E)Price gouging

Question 5

Criticism is typically directed towards casinos, tobacco, and low mileage SUVs because they do not satisfy legitimate needs but just customer wants and have questionable value to the consumer. This illustrate ethical issues related to which of the 4PS:

A)Place
B)Product
C)Price gouging
D)Price
E)Marketing

Question 6

 This occurs when sellers take advantage of situations like national disasters or shortages to raises prices during that situation

A)Predatory pricing
B)Horizontal price fixing
C)Price gouging
D)Vertical Price Fixing
E)Promotion

Question 7

This occurs when a company lowers it prices so far below competitors that it drives the competitors out of the market

A)Predatory pricing
B)Horizontal price fixing
C)Price gouging
D)Vertical Price Fixing
E)None of the above

Question 8

This has the effect of creating a monopoly effect when sellers agree to sell at one price that is often above what they would have to do in a competitive market

A)Predatory pricing
B)Horizontal price fixing
C)Price gouging
D)Vertical Price Fixing
E)All of the above

Question 9

This occurs when sellers force the retailers to sell their products to consumers at specific prices

A)Predatory pricing
B)Horizontal price fixing
C)Product
D)Vertical Price Fixing
E)All of the above

Question 10

Bait-and-switch occurs when

A)Sellers take advantage of situations like national disasters or shortages to raises prices during that situation
B)A company lowers it prices so far below competitors that it drives the competitors out of the market
C)Sellers force the retailers to sell their products to consumers at specific prices
D)When different groups are changed different prices
E)None of the above

Question 11

This occurs when different groups are changed different prices

A)Price discrimination
B)Failure to disclose the full price
C)Bait-and-switch
D)Price gouging
E)Vertical price fixing

Question 12

This often occurs when listed prices do not include other fees or charges that the consumer will have to pay

A)Price discrimination
B)Predatory pricing
C)Bait-and-switch
D)Price gouging
E)Failure to disclose full price

Question 13

This is a sales tactic where a product is advertised at a low price but when the consumer comes in he or she finds that the product is sold out (often there was only one in the store) or is pressured by sales people to look at higher priced versions of the product

A)Price discrimination
B)Failure to disclose the full price
C)Bait-and-switch
D)Price gouging
E)None of the above

Question 14

Horizontal price fixing is

A)When a company lowers its price so far below competitors that it drives out competitors
B)When different groups are charged different prices
C)When sellers agree to a price above what it would be in a competitive market
D)When sellers force retailers to sell at specific prices
E)None of the above

Question 15

Promotion involves an array of tools including:

A)Sponsorships
B)Coupons
C) Point of sale displays
D)All of the above
E)None of the above

Question 16

  In______ the wording is often constructed in a way that the consumer will be erroneous conclusions about the nature of the product.

A)Exaggeration
B)Ambiguity in advertisements
C)Concealing facts
D)Misleading ads
E)None of the above

Question 17

These advertisements often begin with truthful statements regarding the positive attributes of a product:

A)Exaggeration
B)Ambiguity in advertisements
C)Concealing facts
D)Misleading ads
E)Price gouging

Question 18

The statement that BMW "is the ultimate driving machine" is an example of

A)Concealing facts
B)Ambiguity in advertisements
C)Predatory pricing
D)Points of sale displays
E)Exaggeration

Question 19

There are several perspectives regarding if or to what extent companies should companies assume liability for harm caused by the products they produce. These include:

A)The buyer beware view
B)Contractual theory
C)Due care
D)All of the above
E)None of the above

Question 20

If a product injures a user because it was defective, the manufacturer is responsible to compensate the user. This is an example of:

A)Due care theory
B)Strict liability theory
C)Contractual view theory
D)Predatory pricing
E)Price gouging

Question 21

This addresses the weaknesses of the buyer beware approach by accepting that sellers and buyers do not have equality in knowledge and expertise regarding products

A)Due care theory
B)Strict liability theory
C)Contractual view theory
D)All of the above
E)None of the above

Question 22

Strict liability theory argues that

A)The relationship between the manufacturer and a consumer is based on a contract
B)Addresses the fact that sellers and buyers may not have the same knowledge and expertise regarding products
C)The contract has both explicit and implied claims about the product
D)Buyers have responsibility of inspecting products before buying them
E)If a product injures a user because it was defective, the manufacturer is responsible to compensate the user

Question 23

In contract view, the explicit part of the contract relates to:

A)The consumers' expectations regarding relevance, maintainability, life, and product safety
B)The risk associated with using the product, the ease of keeping the product working, the probability that the product will function as expected, the expectations regarding the service life of the product
C)Whether the product is fit for sale and is of acceptable quality for ordinary use.
D)All of the above
E)None of the above

Question 24

In contract view, the contract implies certain moral duties for the seller which DOES NOT include:

A)Duty to coerce
B)Duty to comply with the terms of the contract.
C)Duty not to misrepresent the product in any way
D)Duty to disclosure the nature of the product
E)None of the above

Question 25

Why does pricing have many ethical issues? Discuss some of the key pricing issues with ethical implications.

Question 26

Compare and contrast price gouging, predatory pricing, price discrimination, and bait-and-switch.

Question 27

What is promotion? What are some of the main ethical issues in promotion? Discuss some of the major techniques of deceptive advertising.

Question 28

Compare and contrast the main perspectives on product liability.

Question 29

What is consumer privacy? Why is consumer privacy important?