Question 1

Cloud computing,such as Apple's iCloud,enables businesses and consumers to share data or use software applications directly from a remote server over the Internet or wirelessly rather than having that data file or program reside on a personal computer.This is an example of a __________ change in the marketing environment.

Accepted Answer

A)   regulatory
B)   sociocultural
C)   competitive
D)   technological
E)   marketing mix

Question 2

Culture refers to

Accepted Answer

A)   the set of values, ideas, and attitudes that are learned and shared among members of a group.
B)   the music, art, theater, etc., that reflects the values of an entire nation.
C)   the learned behaviors of a specific racial, ethnic, or religious group based on commonly shared ethical principles and protected by laws.
D)   the combination of beliefs and behaviors accepted as correct regardless of a person's age, sex, race, or religion.
E)   the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.

Question 3

There are only three major recording labels in the world-Sony Music Entertainment,Time Warner's Warner Music Group,and GE's Universal Music Group.They are responsible for the vast majority of music recordings that are made.Harry says that these three music companies operate as an oligopoly.Maryanne says that they operate as monopolistic competition.Explain how each came to his or her conclusion.Who is correct?

Accepted Answer

Monopolistic competition occurs when man...

Question 4

In business,the four basic forms of competition are

Accepted Answer

A)   pure competition, limited competition, oligopoly, and monopoly.
B)   dictatorship, monarchy, oligarchy, and democracy.
C)   pure competition, cross-market competition, oligopoly, and pure monopoly.
D)   technological competition, market competition, governmental competition, and environmental competition.
E)   pure competition, monopolistic competition, oligopoly, and pure monopoly.

Question 5

Spending on which of the following would be considered discretionary?

Accepted Answer

A)   food
B)   housing
C)   vacations
D)   clothing
E)   transportation

Question 6

Profit responsibility refers to

Accepted Answer

A)   the obligation of a firm to price its products or services at a level whereby the consumer is treated fairly and the firm is still able to make a profit.
B)   the view that an organization has an obligation to those who can affect the achievement of its objectives.
C)   the concept that no expansion or additional research and development will occur until a company is making a profit.
D)   the idea that organizations are part of a larger society and are accountable to that society for their actions.
E)   the duty of a firm to maximize financial returns for its owners or stockholders.

Question 7

Society's values and standards that are enforceable in the courts are referred to as

Accepted Answer

A)   situational ethics.
B)   cultural norms.
C)   industry practices.
D)   laws.
E)   the Consumer Bill of Rights.

Question 8

Boeing,Northrup Grumman,and Lockheed Martin control the vast majority of the U.S.defense contractor industry.In terms of the form of competition,this industry is an example of

Accepted Answer

A)   an oligopoly.
B)   a trilateral monopoly.
C)   a monopoly.
D)   a pure competition.
E)   a monopolistic competition.

Question 9

The moral principles and values that govern the actions and decisions of an individual or group are referred to as

Accepted Answer

A)   social norms.
B)   cultural values.
C)   ethics.
D)   societal philosophy.
E)   religion.

Question 10

The purpose of the __________ is to forbid certain actions that are likely to lessen competition,although no actual harm has yet occurred.

Accepted Answer

A)   Federal Trade Commission Act
B)   Lanham Act
C)   Clayton Act
D)   Sherman Antitrust Act
E)   Robinson-Patman Act

Question 11

A proposed law in New Jersey would ban the use of tanning beds by anyone under the age of 18.This restriction would be an example of which environmental force?

Accepted Answer

A)   social
B)   economic
C)   technological
D)   competitive
E)   regulatory

Question 12

The College Board reports that since 2000,college tuition and fees have increased by 160 percent while the share of family income required to pay for tuition at public four-year colleges has risen from 5 percent in 2000 to 14 percent in 2015.This is an example of __________ condition.

Accepted Answer

A)   a deflationary
B)   a recessionary
C)   a repressive
D)   an inflationary
E)   a depressive

Question 13

Gross income refers to

Accepted Answer

A)   the money that remains after paying for taxes and necessities.
B)   the money deducted from a person's paycheck to pay for federal, state, and local taxes.
C)   the money a consumer has left after paying taxes to use for necessities such as food, shelter, clothing, and transportation.
D)   the total amount of money made by a single individual during his or her lifetime.
E)   the total amount of money made in one year by a person, household, or family unit.

Question 14

Only two companies,Intel and AMD,design the computer processors for nearly every laptop and desktop sold in the U.S.today.Intel and AMD operate in which type of competitive environment?

Accepted Answer

A)   a monopoly.
B)   a diopoly.
C)   a pure competition.
D)   an oligopoly.
E)   a monopolistic competition.

Question 15

Business culture affects ethical conduct both in the exchange relationship between sellers and buyers and in the

Accepted Answer

A)   competitive behavior among sellers.
B)   purchase behavior among buyers.
C)   price, service, and product responsibility to the ultimate consumer.
D)   accountability of buyers and sellers to federal and state regulators.
E)   perception of ethical behavior as viewed by employers of business firms, not nonprofit organizations.

Question 16

What is the difference between standard charitable contributions and cause marketing?

Accepted Answer

A firm's standard charitable contributio...

Question 17

The view that an organization has an obligation to those who can affect the achievement of its objectives is referred to as

Accepted Answer

A)   social responsibility.
B)   value consciousness.
C)   benefit marketing.
D)   stakeholder responsibility.
E)   profit responsibility.

Question 18

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Accepted Answer

A)   substitute firms.
B)   target markets.
C)   complementary firms.
D)   cross product marketers.
E)   competition.

Question 19

Two prominent personal moral philosophies that have direct bearing on marketing practice are

Accepted Answer

A)   existentialism and pragmatism.
B)   pragmatism and idealism.
C)   moral idealism and utilitarianism.
D)   social responsibility and personal ethics.
E)   moral relativism and situational ethics.

Question 20

Volkswagen opened a large plant in Chattanooga,TN,in 2011.Within a few years,VW spurred more than 12,400 direct and indirect jobs in the area.The carmaker generates income of over $600 million there annually and boosts state and local tax revenues by over $50 million a year.A huge expansion was announced in 2016 that would nearly double its operations in Tennessee.This example best illustrates __________ change that has impacted the people and businesses of Chattanooga.

Accepted Answer

A)   a social
B)   a regulatory
C)   a competitive
D)   an economic
E)   a technological

Exam 3: Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

The College Board reports that since 2000,college tuition and fees have increased by 160 percent while the share of family income required to pay for tuition at public four-year colleges has risen from 5 percent in 2000 to 14 percent in 2015.This is an example of __________ condition.

Correct Answer
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The moral principles and values that govern the actions and decisions of an individual or group are referred to as

Correct Answer
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Spending on which of the following would be considered discretionary?

Correct Answer
verified

Only two companies,Intel and AMD,design the computer processors for nearly every laptop and desktop sold in the U.S.today.Intel and AMD operate in which type of competitive environment?

Correct Answer
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Correct Answer
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Monopolistic competition occurs when man...
View Answer

Culture refers to

Correct Answer
verified

Boeing,Northrup Grumman,and Lockheed Martin control the vast majority of the U.S.defense contractor industry.In terms of the form of competition,this industry is an example of

Correct Answer
verified

The purpose of the __________ is to forbid certain actions that are likely to lessen competition,although no actual harm has yet occurred.

Correct Answer
verified

Two prominent personal moral philosophies that have direct bearing on marketing practice are

Correct Answer
verified

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Correct Answer
verified

What is the difference between standard charitable contributions and cause marketing?

Correct Answer
verified
A firm's standard charitable contributio...
View Answer

Gross income refers to

Correct Answer
verified

Business culture affects ethical conduct both in the exchange relationship between sellers and buyers and in the

Correct Answer
verified

Society's values and standards that are enforceable in the courts are referred to as

Correct Answer
verified

Profit responsibility refers to

Correct Answer
verified

In business,the four basic forms of competition are

Correct Answer
verified

Correct Answer
verified

The view that an organization has an obligation to those who can affect the achievement of its objectives is referred to as

Correct Answer
verified

A proposed law in New Jersey would ban the use of tanning beds by anyone under the age of 18.This restriction would be an example of which environmental force?

Correct Answer
verified

Correct Answer
verified

Exam 3: Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

The College Board reports that since 2000,college tuition and fees have increased by 160 percent while the share of family income required to pay for tuition at public four-year colleges has risen from 5 percent in 2000 to 14 percent in 2015.This is an example of __________ condition.

Correct AnswerverifiedShow Answer

The moral principles and values that govern the actions and decisions of an individual or group are referred to as

Correct AnswerverifiedShow Answer

Spending on which of the following would be considered discretionary?

Correct AnswerverifiedShow Answer

Only two companies,Intel and AMD,design the computer processors for nearly every laptop and desktop sold in the U.S.today.Intel and AMD operate in which type of competitive environment?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedMonopolistic competition occurs when man...View AnswerShow Answer

Culture refers to

Correct AnswerverifiedShow Answer

Boeing,Northrup Grumman,and Lockheed Martin control the vast majority of the U.S.defense contractor industry.In terms of the form of competition,this industry is an example of

Correct AnswerverifiedShow Answer

The purpose of the __________ is to forbid certain actions that are likely to lessen competition,although no actual harm has yet occurred.

Correct AnswerverifiedShow Answer

Two prominent personal moral philosophies that have direct bearing on marketing practice are

Correct AnswerverifiedShow Answer

Alternative firms that could provide a product to satisfy a specific market's needs are referred to as

Correct AnswerverifiedShow Answer

What is the difference between standard charitable contributions and cause marketing?

Correct AnswerverifiedA firm's standard charitable contributio...View AnswerShow Answer

Gross income refers to

Correct AnswerverifiedShow Answer

Business culture affects ethical conduct both in the exchange relationship between sellers and buyers and in the

Correct AnswerverifiedShow Answer

Society's values and standards that are enforceable in the courts are referred to as

Correct AnswerverifiedShow Answer

Profit responsibility refers to

Correct AnswerverifiedShow Answer

In business,the four basic forms of competition are

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The view that an organization has an obligation to those who can affect the achievement of its objectives is referred to as

Correct AnswerverifiedShow Answer

A proposed law in New Jersey would ban the use of tanning beds by anyone under the age of 18.This restriction would be an example of which environmental force?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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Monopolistic competition occurs when man...
View Answer

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A firm's standard charitable contributio...
View Answer

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