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

The Sherman Act,FTC Act,and the Food and Drug Act were all laws passed by Congress in an effort to regulate certain activities and practices in the economy.These laws were passed during the ___________ phase of government regulation.

A local furniture store was recently penalized for continuously using a "going out of business" message in its marketing communications to influence shoppers to visit the store and assume that prices would be very low.This ethical issue is linked to the _____ variable of the marketing mix.

Match each definition to the corresponding term. -_____ is the amount of money people have to spend after buying necessities such as food,clothing,and housing.

​Marketers are keenly aware that good marketing alone is not enough to win the hearts and minds of consumers anymore.Now,marketers must market in a socially responsible manner or risk alienating consumers in ways that can be irreparable.Which one of the following statements is trueregarding social responsibility?

Environmental scanning is the process of collecting external data,analyzing it,and determining whether the trends identified are opportunities or threats to the company.

The four basic consumer rights are: the right to be informed,the right to be heard,the right to be safe,and:

Technological advancement helps reduce prices and offers superior,cost-efficient distribution methods.

The Federal Trade Commission Act is a law that:

​You feel strongly about working for a socially responsible company,so you are pleased when a prospective employer brings this up.He shows you a set of statements that are posted in all the firm's offices to remind people of the basic steps in the social responsibility pyramid.Choose the statements that appear in this set.

​The interactive exchange between firms and their customers creates the competitive environment.There are multiple types of competitive environments,and each has its own characteristics.Your company operates in a competitive environment where there are only a limited number of competitors.Moreover,it is hard for new competitors to enter the industry because of the high startup costs involved. Which one of the following competitive environments best describes the industry your company is in?

Which act prohibits price discrimination in sales to wholesalers,retailers,or other producers?

A clothing manufacturer sells to 300 retail chains and boutiques within the United States.Since West Coast retailers have a more affluent clientele,they can command higher retail prices.This is likely to be considered illegal under the Clayton Act.

MedicaPlus,a pharmaceutical company,is finding it difficult to track and locate slow moving medicines.Pharmaceutical distributors have been complaining about the time it takes for their orders to arrive.One technology that can be used effectively to shorten this waiting period,locate,and track items easily is:

Match each definition to the corresponding term. -_____ consists of marketing philosophies,policies,procedures,and actions that have the enhancement of society's welfare as a primary objective.

​Marketing raises a number of ethical questions about the how,when,what,where,and who of marketing implications on individuals and society at large.Ethics are of concern in every aspect of marketing. Your company offers cash rewards to consumers in return for them giving you information that you could use in your own marketing or that you could sell to direct marketers.Which category of ethics does this scenario represent?

As economic recovery begins after a period of recession,consumption patterns would reveal a sharp spike.

Electric power companies often give advice on how consumers can use less electricity during the summer and save money on their electric bills.This is an example of demarketing.

The Telecommunications Act of 1996 was passed to:

The FTC and U.S.Department of Justice can stop mergers if they believe the proposed acquisition will reduce competition by making it harder for new companies to enter the field.

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)_____.