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

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Question 1

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Before accepting a job offer from a restaurant chain, you want to be sure your future employer is in tune with the social-cultural environment of the United States. You get worried when your interviewer makes a comment on this topic which is clearly inaccurate. What does she say?

A) We need to cater to retirees, because consumers are getting older.
B) We may need to lower prices in the future, because consumers are making less money.
C) We need to be welcoming to all ethnic groups, because consumers are becoming more culturally diverse.
D) We should buy eco-friendly products, because consumers are concerned about the natural world.

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Question 2

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When marketers offer new products, increase their promotional efforts, and expand their distributional limits, it is a sign of:

A) low inflation and low unemployment.
B) low inflation and high unemployment.
C) high inflation and high unemployment.
D) high inflation and low unemployment.

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Question 3

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Which of the following is a trend usually observed during an economic depression?

During an 18-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.

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

What is the role of the Federal Trade Commission (FTC) in the regulation of marketing activities?

A stay-at-home mother, a high school senior, and a retired government employee are considered unemployed if they do not have a job and don't want one.

It's not only the government that regulates what toys your store can sell to children. Non-governmental regulatory forces include:

Widespread adoption of wireless networks and in-home Internet use has led to an increased availability of "smart" products for the home such as thermostats, lighting, security, systems and smoke detectors. Which environmental factor is most related to the new smart home products?

The competition among Amtrak, Hertz, and Delta Airlines for the travelers' dollar is considered indirect competition because these services can be substituted for one another.

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

The regulatory agency that can require advertisers to provide additional information about products in their advertisements is the _____.

The amount of money available with people after buying necessities such as food, clothing, and housing is referred to as _____.

The Public Health Cigarette Smoking Act prohibits advertising of cigarettes and tobacco products on radio or television. The FCC argued for the act because equal air time was not given to advertisements explaining that tobacco use was dangerous. This government regulation aims to do which of the following?

Laura decided to quit her job and travel for a year. She can be considered a part of the population that is unemployed.

Cabi, a women's clothing company based in Los Angeles, CA partners with Opportunity International to make small business loans to female entrepreneurs in developing countries through its "Make a Change Program" where customers can round-up their purchase to the nearest dollar amount and contribute "change" for a change. This program is part of the _______ dimension of social responsibility.

During the recession stage of the business cycle, consumers have enough money to spend, but caution often restraints their willingness to buy.

The success or failure of a product is independent of the competitive environment.

Sears offers discount coupons and lowers prices on 1,000 items in the store in order to generate sales. This is most likely to occur during an economic recession.

Differentiate between direct and indirect competition with examples.