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

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Question 41

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The industry deregulation phase has focused on increasing the competition in industries such as utilities and financial services.

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Question 42

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What ethical issues might arise when developing a product strategy?

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Product quality, packaging, planned obso...

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Question 43

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It has been seen that periods of major innovations often lead to:

Which of the following components of the marketing environment consists of factors that influence consumer buying power and marketing strategies?

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.

Which of the following has ended total monopoly protection for most utilities such as natural gas, electricity, water, and cable TV service?

POM Wonderful Pomegranate Juice advertised that drinking 8 ounces of POM Wonderful on a daily basis would be a preventative measure against artery plaque build-up in healthy individuals. The advertising campaign featured the slogan, "Floss Your Arteries," which was believed to be misleading by a regulatory agency. Which agency likely filed a claim against POM Wonderful?

The most direct form of competition occurs among marketers of dissimilar products.

Which of the following is an example of indirect competition?

_____ leads to new goods and services for consumers, improves existing products, offers better customer service, and often reduces prices through new, cost-efficient production and distribution methods.

The Council of Better Business Bureaus is a national organization devoted to consumer service and _____.

The technological environment that a company operates in represents all the discoveries made via science, inventions and innovation that impacts the firm's marketing strategy. Which one of the following statements is false regarding the impact of technology on the firm's marketing endeavors?

During an economic recession, marketers look to emphasize value in their offerings by reducing prices in order to help consumers stretch their budget dollars.

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?

Technological changes and the increased use of Wi-Fi has enabled companies such as Netflix to create a large consumer following and changed consumer's viewing habits. Netflix has emerged as an entertainment company offering original content that's not available on cable or satellite networks. Netflix is a _____ competitor to cable and satellite companies.

You just had a job interview at a firm that develops housing complexes around the country. The interviewer seemed impressed by your knowledge of the complex political-legal environment affecting the industry. Which level(s) of government impose(s) regulations on real estate developers - as well as on many other industries?

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

Deflation is necessarily better for the economy than inflation as inflation devalues money and reduces the purchasing power of consumers.

Decisions about marketing mix variables, such as price or promotion, may be influenced by the dimensions of the marketing environment.

What are the questions that can help a company to determine a competitive strategy? Discuss.