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

The airline industry in a particular country has only four dominant players.Large capital investments and government regulations often prevent new players from entering the market.Based on this information,the structure of the airline industry in this country is _____.

As suggested by President John.F.Kennedy,the consumers' right to be _____ states that consumers should be assured that the goods and services they purchase are not injurious with normal use.

_____ leads to new goods and services for consumers,improves existing products,offers better customer service,and often reduces prices through new,cost-efficient production and distribution methods.

In the United States,four major music companies receive 80 percent of recording revenues.Such a market structure is termed as a(n)_____.

​Jonathan Nash,aged 60,feels young at heart and spends most of his leisure time networking with family and friends online or surfing the Web.He can be characterized as:

_____ are used by the federal government to control extreme fluctuations in the business cycle that can lead to a depression.

During an eighteen-month period,sales of Mercedes automobiles,Carnival Cruise vacations,and Florida real estate increased by at least 20 percent.A marketer might deduce that the business cycle is in the late stages of recovery or experiencing a period of economic prosperity.

Match each definition to the corresponding term. -A partnership in which two or more companies combine resources and capital to create competitive advantages in a new market is called a(n)_____.

​Marketers use _______________ to collect information about the external marketing environment to identify and interpret potential trends.

A major constraint on consumer spending is deflation,which devalues money by reducing the products it can buy through persistent price increases.

Match each definition to the corresponding term. -_____ laws are designed to prevent restraints on trade such as business monopolies.

The Federal Trade Commission was established to facilitate trade by removing tariffs and other trade barriers among Canada,Mexico,and the United States.

Consumer spending sinks to its lowest level during an economic depression.

The strategy of time-based competition can be advantageous to companies most affected by technology. ​ ​

The Federal Food and Drug Act was designed to maintain a competitive environment in the food and drug industries.

In marketing,_____ involves accepting an obligation to give equal weight to profits,consumer satisfaction,and social well-being in evaluating a firm's performance.

People develop standards of ethical behavior based on their own systems of values.

In which phase of U.S.government regulation were major laws such as the Sherman Antitrust Act,the Clayton Act,and the Federal Trade Commission Act passed to maintain a competitive environment?

Consumers who are part of the Millennial generation rely on social media and the influence of peers when making decisions about purchasing products and brands compared to Baby Boom generation consumers who might prefer to read reviews by sources such as Consumer Reports.This distinction is important to marketers and part of the ______ environment.

HandyBrands Inc.,a consumer goods company,engages in the design,manufacture,sourcing,and sale of apparel essentials in the United States and abroad.They have a very good e-tailing portal.Online shopping constitutes 40 percent of their sales.Recently,they have faced complaints by customers that orders are not getting processed.The reason was the existence of a website with similar content and an identical domain name.HandyBrands Inc.should take the help of the _____.