Question 1

Define technology.How does it affect marketing?

Accepted Answer

Technology refers to inventions or innov...

Question 2

If taxes rise at a faster rate than incomes,consumers will

Accepted Answer

A)   have less disposable income and try to economize.
B)   feel more confident in the government and therefore spend more money.
C)   use cash for purchases such as a vacation.
D)   recognize that it is the perfect opportunity to buy a car or other expensive products on credit.
E)   react by voting for all incumbent members of Congress.F) A) and D)
G) C) and D)

Question 3

Ethical exchanges between sellers and buyers should result in

Accepted Answer

A)   the seller making a profit at the expense of the buyer.
B)   the buyer getting the product for the best price at the expense of the seller.
C)   both parties to the exchange being better off after a transaction.
D)   the seller offering buyers its products and services at cost, especially during a period of recession.
E)   the buyer forming a strategic alliance with the seller.F) None of the above
G) B) and D)

Question 4

Recently,Chillafish recalled some of its Chillafish brand of children's balance bikes.The Consumer Product Safety Commission website stated that overinflated tires could cause the wheel rims to crack and send pieces of the plastic rim flying,posing a laceration hazard to consumers.Chillafish was responding to consumers' right to

Accepted Answer

A)   choose.
B)   be informed.
C)   be treated courteously.
D)   safety.
E)   happiness.F) C) and D)
G) B) and E)

Question 5

The legal concept of "let the buyer beware," which was pervasive in the American business culture before the 1960s,is referred to as

Accepted Answer

A)   ad nauseum.
B)   mea culpa.
C)   quid pro quo.
D)   ćest la vie.
E)   caveat emptor.F) C) and D)
G) B) and E)

Question 6

The two major purposes for any trademark statute are to

Accepted Answer

A)   (1)  protect the investment of energy, time, and money that the owner of a trademark has invested in the development of the product and (2)  guarantee the owner of the trademark complete rights to his or her work for the duration of the owner's lifetime.
B)   (1)  protect the inventor's individual rights and (2)  provide the company with the maximum profits possible.
C)   protect the rights of the inventor both here and abroad.
D)   (1)  protect the public so consumers will get the product wanted and requested and (2)  protect the government so it will be able to collect its fair share of taxes from the revenues generated.
E)   (1)  protect the firm selling the trademarked product from infringers and (2)  protect the consumer buying the product by allowing him to correctly identify the product he wants.F) A) and B)
G) A) and E)

Question 7

Which of the following is a demographic trend with significant implications to global marketers?

Accepted Answer

A)   the declining populations in Latin American countries
B)   the large and growing markets in India and China
C)   the tripling of the population of consumers under 40 years old
D)   the decreasing interest in entrepreneurship in developing countries
E)   the lack of savings of elderly populations in developed countriesF) C) and D)
G) B) and C)

Question 8

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones such as misleading promotions?

Accepted Answer

A)   Robinson-Patman Act
B)   Consumer Product Safety Act
C)   Lanham Act
D)   Federal Trade Commission Act
E)   Fair Packaging and Labeling ActF) A) and D)
G) A) and C)

Question 9

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed.This is an example of how __________ forces help improve or replace existing products and companies.

Accepted Answer

A)   ecological
B)   regulatory
C)   legal
D)   competitive
E)   technologicalF) A) and B)
G) B) and E)

Question 10

Explain the difference(s)between the Sherman Antitrust Act,the Clayton Act,and the Robinson-Patman Act,all of which were enacted to protect competition.

Accepted Answer

The Sherman Antitrust Act (1890)was the ...

Question 11

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Accepted Answer

A)   Robinson-Patman Act
B)   Clayton Act
C)   Digital Millennium Copyright Act
D)   FTC Act
E)   Consumer Product Safety ActF) A) and B)
G) C) and D)

Question 12

Leigh and Rob prepared a household budget in an attempt to manage their money better.They prepared the following list: Monthly income (after taxes) = $4,500; Monthly expenses (necessities) ,which include rent,$550; auto loan,$250; student loan,$200; savings,$500; food,$200 = $1,700; Amount left over = $2,800 (income less necessary expenses) .The $2,800 they had remaining is their

Accepted Answer

A)   gross income.
B)   personal income.
C)   disposable income.
D)   discretionary income.
E)   profit.F) A) and E)
G) None of the above

Question 13

Which of the following is a major reason for the violation of ethics codes?

Accepted Answer

A)   government regulation
B)   family influence
C)   lack of religious beliefs
D)   fear of disciplinary action
E)   perceived behavior of top managementF) A) and C)
G) A) and D)

Question 14

Gap,Inc.ended its relationship with 23 foreign production facilities due to code violations.Several closings occurred because of the use of child labor.In response to these events,the Gap created a large team whose purpose is to travel worldwide to ensure compliance with its Code of Vendor Conduct.This is an example of

Accepted Answer

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

Question 15

Because there are few sellers,price competition among firms is avoided in which form of competition?

Accepted Answer

A)   pure competition
B)   cross-market competition
C)   a monopoly
D)   monopolistic competition
E)   an oligopolyF) D) and E)
G) C) and D)

Question 16

A code of ethics is a formal statement of ethical principles and

Accepted Answer

A)   legal restrictions.
B)   rules of conduct.
C)   cultural values.
D)   core values.
E)   moral laws.F) A) and B)
G) A) and D)

Question 17

The popular cupcake chain Sprinkles,which launched in Southern California in 2005,recently settled a trademark infringement lawsuit against a Connecticut bakery that was calling itself Pink Sprinkles.The latter was forced to change its name to Pink Cupcake Shack because it was apparently violating provisions of the

Accepted Answer

A)   Consumer Product Safety Act.
B)   Consumer Bill of Rights.
C)   Lanham Act.
D)   Sherman Antitrust Act.
E)   CAN-SPAM Act.F) B) and E)
G) A) and E)

Question 18

The purpose of patent law is to

Accepted Answer

A)   provide incentives for increased competition and lower prices by limiting the granting of patents.
B)   give an author of a literary, dramatic, musical, or artistic work the exclusive right to print, perform, or otherwise copy that work.
C)   give inventors of new and novel products the right to exclude others from making, using, or selling products that infringe the patented invention.
D)   guarantee the quality and safety of any product produced or distributed in the United States.
E)   level the playing field between inventors who work for large corporations and those who work on their own.F) B) and D)
G) A) and B)

Question 19

Demographics refer to

Accepted Answer

A)   the depiction of a population according to its core values or cultural beliefs and their rate of change.
B)   an objective measurement of a person's likelihood to purchase a product or service.
C)   the psychological profile of prospective consumers.
D)   the density of a population in a geographic area.
E)   the description of a population according to selected characteristics such as age, gender, ethnicity, income, and occupation.F) C) and D)
G) None of the above

Question 20

Competition refers to

Accepted Answer

A)   identical products that perform identical functions.
B)   any for-profit organization that targets the customers of other organizations.
C)   alternative firms that could provide a product to satisfy a specific market's needs.
D)   any product or service that vies for a portion of a customer's discretionary income.
E)   the set of firms that operate in a given geographic region, regardless of product or service.F) A) and D)
G) A) and C)

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

Which of the following is a demographic trend with significant implications to global marketers?

Correct Answer
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Correct Answer
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Correct Answer
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Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Correct Answer
verified

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed.This is an example of how __________ forces help improve or replace existing products and companies.

Correct Answer
verified

Explain the difference(s)between the Sherman Antitrust Act,the Clayton Act,and the Robinson-Patman Act,all of which were enacted to protect competition.

Correct Answer
verified
The Sherman Antitrust Act (1890)was the ...
View Answer

Define technology.How does it affect marketing?

Correct Answer
verified
Technology refers to inventions or innov...
View Answer

If taxes rise at a faster rate than incomes,consumers will

Correct Answer
verified

Which of the following is a major reason for the violation of ethics codes?

Correct Answer
verified

The legal concept of "let the buyer beware," which was pervasive in the American business culture before the 1960s,is referred to as

Correct Answer
verified

A code of ethics is a formal statement of ethical principles and

Correct Answer
verified

Demographics refer to

Correct Answer
verified

Because there are few sellers,price competition among firms is avoided in which form of competition?

Correct Answer
verified

The purpose of patent law is to

Correct Answer
verified

The two major purposes for any trademark statute are to

Correct Answer
verified

Competition refers to

Correct Answer
verified

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones such as misleading promotions?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Ethical exchanges between sellers and buyers should result in

Correct Answer
verified

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

Which of the following is a demographic trend with significant implications to global marketers?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of these laws came about as a response to the 1960s grassroots movement known as consumerism?

Correct AnswerverifiedShow Answer

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed.This is an example of how __________ forces help improve or replace existing products and companies.

Correct AnswerverifiedShow Answer

Explain the difference(s)between the Sherman Antitrust Act,the Clayton Act,and the Robinson-Patman Act,all of which were enacted to protect competition.

Correct AnswerverifiedThe Sherman Antitrust Act (1890)was the ...View AnswerShow Answer

Define technology.How does it affect marketing?

Correct AnswerverifiedTechnology refers to inventions or innov...View AnswerShow Answer

If taxes rise at a faster rate than incomes,consumers will

Correct AnswerverifiedShow Answer

Which of the following is a major reason for the violation of ethics codes?

Correct AnswerverifiedShow Answer

The legal concept of "let the buyer beware," which was pervasive in the American business culture before the 1960s,is referred to as

Correct AnswerverifiedShow Answer

A code of ethics is a formal statement of ethical principles and

Correct AnswerverifiedShow Answer

Demographics refer to

Correct AnswerverifiedShow Answer

Because there are few sellers,price competition among firms is avoided in which form of competition?

Correct AnswerverifiedShow Answer

The purpose of patent law is to

Correct AnswerverifiedShow Answer

The two major purposes for any trademark statute are to

Correct AnswerverifiedShow Answer

Competition refers to

Correct AnswerverifiedShow Answer

Which of the following legislative actions created a government entity to monitor business practices and stop unfair ones such as misleading promotions?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Ethical exchanges between sellers and buyers should result in

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The Sherman Antitrust Act (1890)was the ...
View Answer

Correct Answer
verified
Technology refers to inventions or innov...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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