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

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Question 31

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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.

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

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Question 32

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

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Question 33

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The antitrust laws in the United States were designed to protect the interests of organizations having monopoly positions.

Summarize the economic factors that influence marketing decision making and consumer buying behavior.

Despite its many advantages, technology can seldom address social concerns.

Advantages of technology include all of the following except:

All of the following are laws aimed at maintaining a competitive environment except:

In times of prosperity, marketers respond to consumer buying behavior by:

The overall health of the economy has a significant impact on consumers' ability and willingness to purchase goods and services. The most reliable measure of the economy's health is the sum of all final goods and services produced in the country in a given period. This measure is called ____________.

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

Marketers are usually more concerned with the amount of discretionary income in households.

Discount retailer, Target, has technology that can track where customers are in the store and send them appropriate notifications through text message that alerts the customer to specials such as sale prices or limited edition products. Target likely does not use this technology because:

When determining a competitive strategy, marketers ask all of the following questions except:

Dine&View Movie Theaters has decided to close its east side location. It had been consistently understaffed, resulting in poor dining and viewing experiences for many customers. Recognizing that its resources were too limited to operate three locations, it will move employees from the east side location to the two remaining locations. Dine&View was likely asking:

Recently, a top economist to the Federal Reserve bank predicted that market conditions would be favorable with low levels of inflation and low unemployment rates. Which of the following might be a response by marketers to this economic forecast?

Kia Motors has gained consumer confidence and increased sales through its warranty program that includes a 10-year and 100,000 mile limited warranty. Kia Motors notes that all warranties are "limited" and consumers are encouraged to read the fine print to fully understand what the warranty covers. To which element of the marketing mix is the warranty linked when considering a company's ethical behavior?

Marketers' standards of conduct and moral values is termed as _____.

​You own a high-end restaurant competing for the business of well-heeled diners. Now you're worried, because a gourmet takeout store just opened across the street. The new store will mean increased _____ competition.

The social-cultural trend of consumers becoming more time-starved has resulted in changes to the competitive environment. Many grocery stores now offer online ordering and grocery pickup or even grocery delivery. This illustrates that:

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.