Question 1

Culture refers to the set of values, ideas, and attitudes that are learned and shared among members of a group. Culture also serves as a socializing force that dictates what is morally right and just. This means that moral standards

Accepted Answer

A)   are relative to particular societies.
B)   must be universal in order for cross-cultural marketing to be effective.
C)   are fluid and very easy to change.
D)   are cyclical so it is important to change with the times.
E)   are concrete; something is either right or wrong.F) B) and E)
G) B) and D)

Question 2

A local pet supplies boutique had a good year with rising revenues and reduced operating costs resulting in personal income for the owner of nearly $150,000. One-third of that went to local, state, and federal income taxes and another third went to pay for a home mortgage, car payments, food, clothing, and other necessities. What is the remaining third called?

Accepted Answer

A)   gross income
B)   bonus income
C)   discretionary income
D)   disposable income
E)   profitF) A) and D)
G) None of the above

Question 3

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of

Accepted Answer

A)   an oligopoly.
B)   a trilateral monopoly.
C)   a pure monopoly.
D)   a pure competition.
E)   a monopolistic competition.F) D) and E)
G) All of the above

Question 4

Which of the following statements regarding environmental scanning is the most accurate?

Accepted Answer

A)   Environmental scanning changes the marketing environment.
B)   Environmental scanning identifies and interprets potential trends.
C)   Environmental scanning should be done about every five years.
D)   Environmental scanning focuses primarily on ecological factors.
E)   It is too costly and there is too much information generated from environmental scanning to make it viable for small firms.F) A) and E)
G) A) and B)

Question 5

Cause marketing programs incorporate all three concepts of social responsibility by addressing public concerns, satisfying customer needs, and

Accepted Answer

A)   protecting the environment.
B)   enhancing corporate sales and profits.
C)   following industry-specific codes of ethics.
D)   fulfilling societal objectives.
E)   demonstrating ethical behavior.F) C) and E)
G) A) and C)

Question 6

Genzyme, the maker of Cerdelga, a drug that treats a genetic illness called Gaucher's disease that affects 10,000 people worldwide, has been criticized for charging up to $300,000 for a year's worth of Cerdelga. This is an example of the manufacturer adhering to its

Accepted Answer

A)   utopian responsibility.
B)   moral idealism.
C)   social responsibility.
D)   cause marketing strategy.
E)   profit responsibility.F) A) and C)
G) A) and B)

Question 7

Small businesses account for ________ of the gross domestic product (GDP) .

Accepted Answer

A)   21 percent
B)   32 percent
C)   46 percent
D)   68 percent
E)   82 percentF) A) and B)
G) A) and D)

Question 8

All of the following are typically addressed by an organization's code of ethics except which?

Accepted Answer

A)   the dress, sayings, and manner of work of employees
B)   contributions to political parties and government officials
C)   customer and supplier relationships
D)   accurate record keeping
E)   conflicts of interestF) A) and B)
G) C) and E)

Question 9

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 is referred to as

Accepted Answer

A)   social responsibility.
B)   the triple-bottom line.
C)   the marketing concept.
D)   sustainability.
E)   social entrepreneurship.F) B) and E)
G) A) and E)

Question 10

How would the following environmental trends influence the success of a manufacturer of high-definition televisions (HDTVs): (1) growing number of older Americans; (2) population shifts to remote suburbs and small towns; (3) increase in per capita income and standard of living; and (4) increased use of various types of communication technology?

Accepted Answer

All four trends are relevant to growing ...

Question 11

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks ________, it was prepared for this shift in its marketing environment.

Accepted Answer

A)   optimized its distribution by adding local outlets in grocery stores
B)   noticed the change in the demographics of coffee and tea drinkers in general
C)   added more in-store displays
D)   shifted funds from product development to advertising
E)   tracked, as part of its ongoing environmental scanning activities, the percentage of households with single cup brewersF) D) and E)
G) A) and B)

Question 12

Generation X is defined as the generation of children born

Accepted Answer

A)   between 1946 and 1964.
B)   between World War I and World War II.
C)   between 1965 and 1976.
D)   between 1977 and 1994.
E)   since the millennium.F) A) and C)
G) A) and B)

Question 13

Members of Generation Y, sometimes known as ________, are interested in sustainability, including sustainable campus communities.

Accepted Answer

A)   activists
B)   sustainers
C)   progressives
D)   reformers
E)   millennialsF) C) and E)
G) A) and C)

Question 14

Generation X

Accepted Answer

A)   is the least healthy generation since the 1940s.
B)   accounts for the smallest percentage of consumer spending among generational cohorts.
C)   is now the largest segment of business travelers.
D)   is notable for its interest in distinctive, memorable, and personal experiences.
E)   is a label often used synonymously with the term millennials.F) B) and D)
G) A) and C)

Question 15

In business, the four basic forms of competition are

Accepted Answer

A)   pure competition, limited competition, oligopoly, and monopoly.
B)   dictatorship, monarchy, oligarchy, and democracy.
C)   pure competition, cross-market competition, oligopoly, and pure monopoly.
D)   technological competition, market competition, governmental competition, and environmental competition.
E)   pure competition, monopolistic competition, oligopoly, and pure monopoly.F) None of the above
G) B) and D)

Question 16

A sudden drop in the average consumer income would be an example of which environmental force?

Accepted Answer

A)   economic
B)   competitive
C)   technological
D)   social
E)   regulatoryF) A) and B)
G) All of the above

Question 17

Nestlé's marketing of Good Start infant formula promoted the product as hypoallergenic. However, some severely milk-allergic infants experienced serious side effects after using Good Start, including convulsive vomiting. A Nestlé vice president defended the claim and product, saying, "I don't understand why our product should work in 100 percent of cases. If we wanted to say it was foolproof, we would have called it allergy-free. We call it hypo-, or less, allergenic." Nestlé's actions exemplify which of the following philosophies?

Accepted Answer

A)   existentialism
B)   moral idealism
C)   communism
D)   socialism
E)   utilitarianismF) C) and E)
G) A) and D)

Question 18

Environmental trends arise from all of the following forces except which?

Accepted Answer

A)   competitive
B)   economic
C)   regulatory
D)   behavioral
E)   socialF) D) and E)
G) B) and D)

Question 19

________ is the generational cohort described as self-reliant, supportive of racial and ethnic diversity, better educated than previous generations, and not prone to extravagance.

Accepted Answer

A)   Generation Z
B)   Generation Y
C)   Millennials
D)   Generation X
E)   Baby boomersF) B) and D)
G) B) and E)

Question 20

________ involves unethical conduct by a person entrusted with a position of authority, often to acquire a personal benefit.

Accepted Answer

A)   Economic espionage
B)   Utilitarianism
C)   Business intelligence
D)   Oligopoly
E)   CorruptionF) A) and D)
G) A) and C)

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

All of the following are typically addressed by an organization's code of ethics except which?

Correct Answer
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Correct Answer
verified

Correct Answer
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All four trends are relevant to growing ...
View Answer

In business, the four basic forms of competition are

Correct Answer
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Correct Answer
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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 is referred to as

Correct Answer
verified

Small businesses account for ________ of the gross domestic product (GDP) .

Correct Answer
verified

________ involves unethical conduct by a person entrusted with a position of authority, often to acquire a personal benefit.

Correct Answer
verified

Which of the following statements regarding environmental scanning is the most accurate?

Correct Answer
verified

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks ________, it was prepared for this shift in its marketing environment.

Correct Answer
verified

Genzyme, the maker of Cerdelga, a drug that treats a genetic illness called Gaucher's disease that affects 10,000 people worldwide, has been criticized for charging up to $300,000 for a year's worth of Cerdelga. This is an example of the manufacturer adhering to its

Correct Answer
verified

Cause marketing programs incorporate all three concepts of social responsibility by addressing public concerns, satisfying customer needs, and

Correct Answer
verified

Generation X

Correct Answer
verified

A sudden drop in the average consumer income would be an example of which environmental force?

Correct Answer
verified

Environmental trends arise from all of the following forces except which?

Correct Answer
verified

Culture refers to the set of values, ideas, and attitudes that are learned and shared among members of a group. Culture also serves as a socializing force that dictates what is morally right and just. This means that moral standards

Correct Answer
verified

Generation X is defined as the generation of children born

Correct Answer
verified

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of

Correct Answer
verified

Members of Generation Y, sometimes known as ________, are interested in sustainability, including sustainable campus communities.

Correct Answer
verified

________ is the generational cohort described as self-reliant, supportive of racial and ethnic diversity, better educated than previous generations, and not prone to extravagance.

Correct Answer
verified

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

All of the following are typically addressed by an organization's code of ethics except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedAll four trends are relevant to growing ...View AnswerShow Answer

In business, the four basic forms of competition are

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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 is referred to as

Correct AnswerverifiedShow Answer

Small businesses account for ________ of the gross domestic product (GDP) .

Correct AnswerverifiedShow Answer

________ involves unethical conduct by a person entrusted with a position of authority, often to acquire a personal benefit.

Correct AnswerverifiedShow Answer

Which of the following statements regarding environmental scanning is the most accurate?

Correct AnswerverifiedShow Answer

Starbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks ________, it was prepared for this shift in its marketing environment.

Correct AnswerverifiedShow Answer

Genzyme, the maker of Cerdelga, a drug that treats a genetic illness called Gaucher's disease that affects 10,000 people worldwide, has been criticized for charging up to $300,000 for a year's worth of Cerdelga. This is an example of the manufacturer adhering to its

Correct AnswerverifiedShow Answer

Cause marketing programs incorporate all three concepts of social responsibility by addressing public concerns, satisfying customer needs, and

Correct AnswerverifiedShow Answer

Generation X

Correct AnswerverifiedShow Answer

A sudden drop in the average consumer income would be an example of which environmental force?

Correct AnswerverifiedShow Answer

Environmental trends arise from all of the following forces except which?

Correct AnswerverifiedShow Answer

Culture refers to the set of values, ideas, and attitudes that are learned and shared among members of a group. Culture also serves as a socializing force that dictates what is morally right and just. This means that moral standards

Correct AnswerverifiedShow Answer

Generation X is defined as the generation of children born

Correct AnswerverifiedShow Answer

Boeing, Northrup Grumman, and Lockheed Martin control the vast majority of the U.S. defense contractor industry. In terms of the form of competition, this industry is an example of

Correct AnswerverifiedShow Answer

Members of Generation Y, sometimes known as ________, are interested in sustainability, including sustainable campus communities.

Correct AnswerverifiedShow Answer

________ is the generational cohort described as self-reliant, supportive of racial and ethnic diversity, better educated than previous generations, and not prone to extravagance.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
All four trends are relevant to growing ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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