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

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Question 21

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Environmental scanning is the process of collecting external data,analyzing it,and determining whether the trends identified are opportunities or threats to the company.

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Question 22

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Jonathan Nash,aged 60,feels young at heart and spends most of his leisure time networking with family and friends online or surfing the Web.He belongs to the baby boom generation and exemplifies _____.

A) a social animal
B) a generation Xer
C) a social media maven
D) a Web addict

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Question 23

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Which particular challenge does the telecommunications industry face because of the fast pace of product innovation? What steps are being taken to correct these barriers?

The deregulation movement has ended total monopoly protection for most utilities.

In marketing,_____ involves accepting an obligation to give equal weight to profits,consumer satisfaction,and social well-being in evaluating a firm's performance.

When Jonathan was contacted by his insurance firm regarding certain medical claims he had made recently,he realized that someone else had used his name and insurance information without his consent to make false claims for medical services and goods.Which of the following acts will enable Jonathan to take action against the person who stole his personal information?

Define the terms inflation and deflation.Discuss their effects on the economy with the help of real-life examples.

Electric power companies often give advice on how consumers can use less electricity during the summer and save money on their electric bills.This is an example of demarketing.

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

Demarketing is a reaction to a surplus of production materials that results in product supply exceeding demand.

Discretionary income is the amount of money people have to spend on buying necessities such as food,clothing,and housing.

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

Production,promotion,and reclamation of environmentally sensitive products is the basic premise of ethical marketing.

A partnership in which two or more companies combine resources and capital to create competitive advantages in a new market is called a(n) _____.

A pharmaceutical company that owns a patent for a new drug obtains exclusive rights to produce and market that drug for an entire lifetime.

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

In which phase of U.S.government regulation were major laws such as the Sherman Antitrust Act,the Clayton Act,and the Federal Trade Commission Act passed to maintain a competitive environment?

Which of the following is the newest regulatory frontier for federal and state regulators in the United States?

The FTC and U.S.Department of Justice can stop mergers if they believe the proposed acquisition will reduce competition by making it harder for new companies to enter the field.

_____ consists of marketing philosophies,policies,procedures,and actions that have the enhancement of society's welfare as a primary objective.