Question 1

Long deflationary periods can cause a freefall in business profits,lower returns on most investments,and widespread job layoffs.

Accepted Answer

A) True 
 B)False

Question 2

The governmental regulations that affect marketing practices are mainly for advertising and distribution,and do not place any restrictions and prohibitions on the design and packaging of products.

Accepted Answer

A) True 
 B)False

Question 3

During which phase in the business cycle do marketers consider lowering prices and increasing promotions that include special offers to stimulate demand?

Accepted Answer

A) Prosperity 
B) Recession 
C) Growth 
D) Maturity

Question 4

Indirect competition occurs among marketers of:

Accepted Answer

A) similar products. 
B) products that satisfy different needs. 
C) products that can be easily substituted. 
D) products that belong to different categories.

Question 5

Which of the following is an example of indirect competition?

Accepted Answer

A) A Sony home entertainment system competing with a Jacuzzi hot tub 
B) An ExxonMobil station opening across the street from a Shell retail outlet 
C) Competition among Verizon, AT&T, and T-Mobile 
D) The purchase of a Honda Accord competing with a Toyota Camry

Question 6

Which of the following was the prime reason behind the formation of regulations aimed at protecting competitors?

Accepted Answer

A) To provide legal protection to independent merchants against competition from larger chain stores 
B) To reduce the concentration of industry power in the hands of a small number of competitors 
C) To increase competition in industries like telecommunications, utilities, transportation, and financial services by discontinuing many regulations 
D) To permit firms to expand their service offerings to new markets by discontinuing many regulations

Question 7

Which of the following stages in the business cycle forces businesses to hold down costs,trim payrolls,and cut down travel costs in order to earn profits and cope with uncertain consumer demand?

Accepted Answer

A) Recovery 
B) Growth 
C) Prosperity 
D) Maturity

Question 8

Maros,an agricultural biotechnology company,is the sole supplier of genetically engineered seeds and controls 84 percent of the market share for genetically modified crops.This is an example of a monopoly.

Accepted Answer

A) True 
 B)False

Question 9

News reports from Zimbabwe indicate that a small pack of locally produced coffee beans costs approximately 1 billion Zimbabwean dollars,an amount that would have bought 60 new cars less than ten years ago in the same country.It can be surmised that Zimbabwe is experiencing extremely high levels of _____ which has spiraled out of control in the past ten years.

Accepted Answer

A) growth 
B) stagflation 
C) deflation 
D) inflation

Question 10

Match each definition to the corresponding term.
-Toyota's promotion of cars using hybrid technology is an example of _____.

Accepted Answer

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)antitrust
T)strategic alliance

Question 11

The main purpose of the community development financial institutions certified by the U.S.Treasury Department is to educate low-income borrowers.

Accepted Answer

A) True 
 B)False

Question 12

List out the four phases in the history of U.S.government regulations.Why were these regulations passed?

Accepted Answer

The answer of List out the four phases in the...

Question 13

The production,promotion,and reclamation of environmentally sensitive products is called _____.

Accepted Answer

A) social media marketing 
B) green washing 
C) demarketing 
D) green marketing

Question 14

Match each definition to the corresponding term.
-The marketers' standards of conduct and moral values are called _____.

Accepted Answer

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)antitrust
T)strategic alliance

Question 15

Major oil companies,such as ExxonMobil and Chevron,often donate large amounts of money toward political campaigns in an attempt to influence government policy in their favor.This is an example of environmental management.

Accepted Answer

A) True 
 B)False

Question 16

Which act prohibits restraint of trade and monopolization and identifies a competitive marketing system as a national policy goal?

Accepted Answer

A) The Wheeler-Lea Act 
B) The Sherman Antitrust Act 
C) The Federal Trade Commission Act 
D) The Clayton Act

Question 17

Differentiate between direct and indirect competition with examples.

Accepted Answer

The answer of Differentiate between direct and indirect competition with...

Question 18

Technological innovations create not just new goods and services but also entirely new industries.

Accepted Answer

A) True 
 B)False

Question 19

A food lobbying group funded by Coca Cola worked to counter proposed legislation about school lunches and the availability of soda in vending machines at schools across the country.Coca Cola supports lobbyists in an effort to engage in _________.

Accepted Answer

A) ​environmental management 
B) ​environmental scanning 
C) ​environmental screening 
D) ​competitive intelligence

Question 20

Match each definition to the corresponding term.
-_____ is a telecommunication service that helps in connecting a personal computer with any type of broadband Internet connection.

Accepted Answer

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)antitrust
T)strategic alliance

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

Long deflationary periods can cause a freefall in business profits,lower returns on most investments,and widespread job layoffs.

The governmental regulations that affect marketing practices are mainly for advertising and distribution,and do not place any restrictions and prohibitions on the design and packaging of products.

During which phase in the business cycle do marketers consider lowering prices and increasing promotions that include special offers to stimulate demand?

Indirect competition occurs among marketers of:

Which of the following is an example of indirect competition?

Which of the following was the prime reason behind the formation of regulations aimed at protecting competitors?

Which of the following stages in the business cycle forces businesses to hold down costs,trim payrolls,and cut down travel costs in order to earn profits and cope with uncertain consumer demand?

Maros,an agricultural biotechnology company,is the sole supplier of genetically engineered seeds and controls 84 percent of the market share for genetically modified crops.This is an example of a monopoly.

Match each definition to the corresponding term. -Toyota's promotion of cars using hybrid technology is an example of _____.

The main purpose of the community development financial institutions certified by the U.S.Treasury Department is to educate low-income borrowers.

List out the four phases in the history of U.S.government regulations.Why were these regulations passed?

The production,promotion,and reclamation of environmentally sensitive products is called _____.

Match each definition to the corresponding term. -The marketers' standards of conduct and moral values are called _____.

Major oil companies,such as ExxonMobil and Chevron,often donate large amounts of money toward political campaigns in an attempt to influence government policy in their favor.This is an example of environmental management.

Which act prohibits restraint of trade and monopolization and identifies a competitive marketing system as a national policy goal?

Differentiate between direct and indirect competition with examples.

Technological innovations create not just new goods and services but also entirely new industries.

A food lobbying group funded by Coca Cola worked to counter proposed legislation about school lunches and the availability of soda in vending machines at schools across the country.Coca Cola supports lobbyists in an effort to engage in _________.

Match each definition to the corresponding term. -_____ is a telecommunication service that helps in connecting a personal computer with any type of broadband Internet connection.