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

What is the term for organizational objectives that include predicting and influencing competitive, political-legal, economic, technological, and socio-cultural components?

Creative applications of technology can benefit society, but rarely give firms a definite competitive edge since other firms can simply copy the technology.

A pharmaceutical company that owns a patent for a new drug obtains exclusive rights to produce and market that drug throughout its lifetime.

Assume your firm produces both consumer necessities and consumer luxuries. How will the economic environment affect the demand for both types of products?

During the recession stage of the business cycle, consumers stick with the brands they know, often ignoring the basic, functional products that carry low price tags.

What can new technology result in?

Pricing tends to have the least amount of regulation and, therefore, the most ethical violations.

Inflationary periods are characterized by rising prices, while in deflationary periods prices decline.

Why must Canadian companies form strategic alliances with firms in China when doing business in that country?

Adherence to the truth-in-advertising laws results in fewer ethical questions arising in the area of product promotion.

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

What is consumerism? What can marketers do to protect the consumer's right to be heard?

Public and private consumer groups like Mothers Against Drunk Driving (MADD) are not considered to be part of the legal environment.

Since the last major depression in the 1930s, Canadian fiscal and monetary policies have attempted to control extreme fluctuations in the business cycle that lead to depression.

Match each item to the statement or sentence listed below. a.environmental scanning b.environmental management c.competitive environment d.time-based competition e.economic environment f.demarketing g.consumerism h.marketing ethics i.social responsibility j.green marketing k.oligopoly l.gross domestic product m.planned obsolescence n.inflation o.socially responsible marketing p.political-legal environment q.VoIP r.discretionary income s.pro-competition t.strategic alliance -Attainment of organizational objectives by predicting and influencing the competitive, political-legal, economic, technological and socio-cultural environments is called _____.

A socially responsible marketing philosophy would discourage consumers from voicing their complaints because socially responsible sellers have no obligation to listen to such complaints.

A firm donates money and used office equipment to a local school. It also contributes money and labour to build a new park. What level of corporate social responsibility is this firm exhibiting?

Match each item to the statement or sentence listed below. a.environmental scanning b.environmental management c.competitive environment d.time-based competition e.economic environment f.demarketing g.consumerism h.marketing ethics i.social responsibility j.green marketing k.oligopoly l.gross domestic product m.planned obsolescence n.inflation o.socially responsible marketing p.political-legal environment q.VoIP r.discretionary income s.pro-competition t.strategic alliance -is the sum of all goods and services produced by a nation in a year.

The cultural diversity of Canada results in various micromarkets, each with unique values, cultural characteristics, purchasing behaviour, and consumer preferences.

Product innovation can come from a variety of sources in both the private and public sectors.