Exam 2: Consumer and Social Well-Being

The social bottom line provides financial benefits directly to stockholders.

Explain the three key legislative acts affecting consumers.

Jan's Tees creates t-shirts from natural materials that are fully reusable and recyclable so that the firm uses zero resources to manufacture the shirts. This is known as ________.

Why do all consumers sometimes replace a product that still functions?

Explain why advertising is necessary.

The saying "one man's trash is another man's treasure" is the philosophy behind ________.

A small group of consumers that come into a facility to try new products while being observed is called ________.

Consumer addiction can occur with any product category, even lip balm.

The Federal Cigarette Labeling and Advertising Act ________.

Discuss how materialism has changed in meaning.

Consumer research shows that all things being equal, people are likely to choose a brand that gives back to the community over one that does not.

Which of the following is NOT an element common to destructive consumer behavior?

Lateral cycling means reducing how much one product uses so there is less waste.

How consumers dispose of products can apply to the disposal of ideas just as it does to products.

The importance people attach to worldly possessions is called ________.

Explain greenwashing and why businesses would participate in greenwashing.

When consumers are unhappy with a product, they may file a complaint in the form of legal action, Better Business Bureau complaint, or publishing a negative review. This is called a ________ response.

There is an increasing demand for green products.

Consumers may have abandoned products in their homes because they bought for a specific purpose but then changed plans.

If you are unhappy with a product or service, what are your three possible courses of action?