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Exam 3: The Marketing Environment, Ethics, and Social Responsibility

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Question 51

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The _____ component of the marketing environment consists of laws that require firms to operate under competitive conditions and to protect consumer rights.

A) economic
B) competitive
C) social-cultural
D) political-legal

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Question 52

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​Since the latter part of the 19th century, the U.S. government has played an activist role in the financial markets and the market for goods and services. The emphasis of their role has varied over this time as different issues and dynamics were at the forefront of business and economic trends. The first phase of the U.S. government's active regulatory role, in the early part of the 20th century, can be best described as which of the following?

A) ​The cyberspace phase
B) ​The consumer protection phase
C) ​The protecting consumers phase
D) ​The antimonopoly phase
E) ​The industry deregulation phase

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Question 53

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Air travel today is not very glamorous and takes a lot of patience but many changes have occurred to enhance convenience for travelers. First, consumers can book their own travel via the Web rather than use a travel agent. Before their flight, they can check-in remotely via their smartphone or other mobile device and print their boarding pass. Alternately, they can use their smartphone to display their boarding pass to the gate agent who scans the digital image. Once on-board and safely cruising, some airlines offer in-flight Wi-Fi to enable travelers to check their e-mail, send documents, surf the Web or catch up on a Netflix series or movie. These conveniences are most related to the ________ environmental factor.

The history of U.S. government regulation can be divided into four phases: the antimonopoly period, _____, consumer protection, and industry deregulation.

The first phase of federal regulation of business was aimed at protecting competitors and included the Robinson-Patman Act, passed in the 1930s.

How can marketers help companies to meet their social responsibility? What impact does social responsibility have on the public's perception of an organization? Give examples of companies that have undertaken socially responsible initiatives.

A market structure in which a single seller dominates trade in a good or service for which buyers can find no close substitutes is called a(n) _____.

Public and private consumer interest groups and self-regulatory organizations are part of the legal environment.

Fresh Meadows, an organic yogurt manufacturer, organizes camps to assist and encourage farmers in adopting organic farming practices. Fresh Meadows is engaging in socially responsible marketing.

The extent of consumer spending is directly related to the rate of unemployment.

Which one of these is NOT an example of how marketers have responded to society's demographic shifts and changing values ?

In addition to planning for change, marketers must set goals to meet the concerns of customers, employees, shareholders, and members of the general public.

Understanding the dimensions of the marketing environment is helpful in designing a successful marketing strategy.

Explain the importance of the technological environment on marketing.

When a firm acknowledges its limited resources, such as sales personnel or advertising budget, it is considering the question, "Should we compete?"

The decision of whether or not to compete should be based on a firm's resources, objectives, and expected profit potential.

Which of the following statements is true regarding a monopoly?

Because of competitive pressures, some firms have used packaging and labeling practices that are questionable, misleading, deceptive, and unethical. This is an example of issues related to __________.

JP Video Rentals is offering a "Rent 2 get 1 free" video rental coupon. They have been accused of deceptive advertising throughout the United States. Which division of the Council of Better Business Bureaus is designated to handle such cases?

The _____ has the broadest powers of an agency to influence marketing activities.