Exam 1

A company uses this statement to guide decision-making in its business operations: "We strive to be a responsible citizen that makes a difference by helping build and support sustainable communities." This is an example of_______. A) its stakeholder responsibility B) a business plan C) an environmental mission statement D) a sustainability vision statement E) an executive summary

A sustainability vision statement

Compare the following statements regarding relationship marketing to determine which is MOST accurate? A. Relationship marketing is most successful when firms focus on attracting, maintaining, and enhancing customer relationships. B. Relationship marketing has waned as a viable strategy with the advent of the Internet. C. Relationship marketing focuses on satisfying the needs of all the company stakeholders. D. Relationship marketing is best described as the use of personal selling to persuade consumers to buy products. E. Very few companies in today's marketplace are engaged in relationship marketing.

A. Relationship marketing is most successful when firms focus on attracting, maintaining, and enhancing customer relationships.

In marketing terms, what is a person looking to satisfy if he or she feels deprived of basic necessities such as food, clothing, shelter, transportation or safety? A. a need B. a want C. a craving D. a dilemma E. a desire

A. a need

Daphne used to work in the city where she would take public transportation to work. However, she just took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to get to and from her job. For Daphne, these things represent Daphne used to work in the city where she would take public transportation to work. However, she just took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to get to and from her job. For Daphne, these things represent A. a need. B. a want. C. a craving. D. a dilemma. E. a desire.

A. a need.

Tony the Tiger and the slogan They're Great are elements that help to identify Kellogg's _______ from that of its competitors A. brand B. logo C. patent D. trademark E. style

A. brand

What step in the ethical decision-making framework is sometimes referred to as seeing through a problem to the other side? A. consider how the decision will affect the stakeholders B. identify the ethical issue at hand C. discuss the pending decision with the stakeholders D. consider all available alternatives E. make the decision

A. consider how the decision will affect the stakeholders

In an effort to help raise awareness of hunger in the United States, Tyson Foods initiated the KNOW Hunger campaign to encourage people to KNOW the scope of hunger in their own communities. As part of this effort, Tyson has committed to donate one million pounds of chicken to food banks around the country. These actions by Tyson are an example of A. corporate social responsibility. B. its marketing plan. C. global marketing. D. its marketing concept. E. stakeholder responsibility.

A. corporate social responsibility.

After listening to customer requests for travel routes to the Northwest, Southwest Airlines has added cross-country routes to both Seattle and Portland. By providing its customers with benefits that meet their needs, Southwest is providing A. customer value. B. benefit marketing. C. benefit segmentation. D. a marketing mix. E. customer service.

A. customer value.

Having an efficient supply chain is critical if a firm wishes to A. deliver value. B. forecast value. C. create value. D. communicate value. E. market value.

A. deliver value.

According to your text, what is the most basic concept in marketing? A. determining the difference between consumer needs and wants B. determining the best advertising outlet for a product C. streamlining production costs to generate maximum profits D. satisfying the needs of stakeholders E. getting all members of an organization to agree on a marketing plan

A. determining the difference between consumer needs and wants

What term is used to describe the increasingly interconnected nature of the world economy? A. globalization B. internationalization C. the marketing mix D. relationship marketing E. the worldwide web

A. globalization

The process of planning, implementing, and controlling the flow of goods, services and information between the point of origin and the point of consumption in order to meet customer requirements is called A. logistics. B. production. C. the supply chain. D. operations. E. marketing.

A. logistics.

What era in the history of marketing best reflects the idea that a firm's long-term success must include a company-wide effort to satisfy customer needs? A. marketing concept B. production orientation C. sales orientation D. customer orientation E. relationship marketing

A. marketing concept

Which era in the history of marketing began in the early years of the United States and lasted until the mid-1920s? A. production orientation B. sales orientation C. marketing concept D. relationship marketing E. customer orientation

A. production orientation

As it relates to customers, the aim of marketing is to A. provide customers with value. B. increase profits by ensuring customers pay the highest price possible for a product. C. accurately and truthfully advertise the product. D. generate repeat sales from each and every customer. E. reduce the number of customer complaints.

A. provide customers with value.

The group of Internet-based applications that allow the creation and exchange of user-generated content is called A. social media B. web media C. online applications D. Internet marketing E. network marketing

A. social media

NAFTA is an international trade agreement between the United States A. and Brazil. B. Canada, and Mexico. C. China, and Japan. D. and Great Britain. E. India, and China.

B. Canada, and Mexico.

Which of the following questions relates to the place element of the marketing mix? A. How long has my product existed? B. How much inventory should I have? C. Should I offer customers a discount? D. Do I need to hire salespeople? E. How do I want the public to view my product?

B. How much inventory should I have?

What impact can a successful marketing campaign have on nonprofit organizations? A. It can help nonprofit organizations achieve a for-profit status. B. It can help nonprofit organizations attract members and raise much-needed funds. C. It would have no impact since nonprofit organizations do not require marketing campaigns. D. It can allow nonprofit organizations to receive tax breaks from the government. E. It can help to increase revenue and profits for the firm.

B. It can help nonprofit organizations attract members and raise much-needed funds.

What role, if any, did marketing play in the U.S. housing crisis that began in December 2007? A. Marketers did not play a role in the housing crisis, as the problem was between consumers seeking housing loans and the lenders who granted the loans. B. The housing crisis was triggered by marketers who took consumers' basic need for a house and encouraged their want to buy a house that was more than they could afford. C. Marketers were responsible for not notifying the public that a crisis was looming. D. Marketers did not play a role in the housing crisis, because in the end, consumers are ultimately responsible for the products they purchase. E. Marketers acted unethically by only advertising bank loan rates in certain areas of the country.

B. The housing crisis was triggered by marketers who took consumers' basic need for a house and encouraged their want to buy a house that was more than they could afford.

What type of marketing strategy is a company using if it consciously addresses customers, markets, and competition throughout the world? A. an import/export strategy B. a global marketing strategy C. a domestic market strategy D. a foreign investment agreement E. an international trade agreement

B. a global marketing strategy

Your text defines ethics as moral standards expected by A. an organization. B. a society. C. the AMA. D. employees. E. consumers.

B. a society.

What type of need is shaped by personality, culture, or buying situation? A. a craving B. a want C. a demand D. a necessity E. an emergency

B. a want

The activity of buyers and sellers trading things of value so that each is better off as a result is referred to as A. bartering. B. an exchange. C. personal selling. D. a marketing interchange. E. merchandising.

B. an exchange.

The Fantastically Fit health club has just opened a new location in your neighborhood. The club has mailed a flyer to all households in the area that contains information about the club and a coupon for a one-month free membership. In doing so, Fantastically Fit is MOST LIKELY attempting to A. explain value. B. communicate value. C. deliver value. D. forecast value. E. market value.

B. communicate value.

The focus of the marketing concept era was on A. production. B. customers. C. sales. D. competition. E. technology.

B. customers.

How many steps are there in the ethical decision-making framework? A. five B. eight C. six D. seven E. ten

B. eight

All of the following are considered to be external stakeholders of a firm EXCEPT A. suppliers. B. managers. C. government. D. customers. E. shareholders.

B. managers.

Which marketing mix element is typically the easiest to change? A. product B. price C. place D. promotion E. perception

B. price

During what stage in the evolution of marketing did firms believe that quality products would sell themselves? A. sales orientation B. production orientation C. marketing concept D. relationship marketing E. customer orientation

B. production orientation

What is the key to creating value? A. being the first to create a new product or service B. providing consumers with benefits that meet their needs and wants C. accurately advertising a product D. making sure that products are priced lower than the competition E. convincing consumers that they need a product, even if they do not perceive that they do

B. providing consumers with benefits that meet their needs and wants

Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In an effort to stave off competition, the company has begun keeping a log of customer interests and hobbies so it can alert them to local events of relevance to them as well as send them articles that pertain to their favorite activities. In addition, Outdoor Adventures has added a section to their website where customers can post pictures of themselves using the store's gear. These efforts illustrate how the firm is engaged in A. personal selling. B. relationship marketing. C. societal marketing. D. logistics. E. a sales orientation.

B. relationship marketing.

Which era in the history of marketing continued until the end of World War II? A. production orientation B. sales orientation C. marketing concept D. relationship marketing E. customer orientation

B. sales orientation

Which environmental marketing strategy involves showing customers that the company does more than the competition to implement an environmental strategy? A) eco-branding B) eco-efficiency C) sustainable value innovation D) environmental cost leadership E) beyond compliance leadership

Beyond compliance leadership

Which of the following is NOT a major barrier marketers face when encouraging sustainable consumer behavior? A) lack of awareness and knowledge B) negative perceptions C) low availability D) high prices E) lack of choice

Black of choice

Which of the following statements is TRUE regarding the audit of a corporate social responsibility (CSR) program?

Both qualitative and quantitative measurements should be used in the audit.

Which of the following statements is TRUE regarding the audit of a corporate social responsibility (CSR) program? A) Only qualitative measurements should be used in the audit. B) Both qualitative and quantitative measurements should be used in the audit C) Only quantitative measurements should be used in the audit. D) Involving every stakeholder group in the audit will only provide conflicting results. E) The most effective audits involve only one significant stakeholder group.

Both qualitative and quantitative measures should be used in the audit

The marketing concept began to emerge in the A. 1920s. B. 1930s. C. 1950s. D. 1970s. E. 1990s.

C. 1950s.

Which of the following trends is accurate regarding the future of marketing? A. The number of cable television subscribers has increased in recent years, signaling to marketers that television advertising is still the preferred choice for marketing products. B. Information posed online in blogs and through websites has not proven to be as successful as marketers thought since consumers often doubt the accuracy of the information posted. C. As technology impacts the business world, firms will need to explore new models that address what customers want and how they prefer to receive information. D. With the advent of technology, the basic goal of marketing has changed from how to create, communicate, and deliver value to consumers to how to better segment and target consumer markets. E. Even though newspaper circulation has decreased in recent years, it is still the preferred way to advertise because of its low cost.

C. As technology impacts the business world, firms will need to explore new models that address what customers want and how they prefer to receive information.

As noted in your text, what was the result when some of the world's most ethical companies were compared to the S&P 500 index on a profitability measure? A. The firms that were identified as ethical were more profitable initially, but then showed a pattern of declining profitability compared to the mix of companies included in the S&P 500 index. B. The firms that were identified as ethical were significantly less profitable on the whole than the mix of companies included in the S&P 500 index. C. The firms that were identified as ethical were more profitable on the whole than the mix of companies included in the S&P 500 index. D. The firms that were identified as ethical were not as profitable initially, but then showed a pattern of unprecedented profit increase when compared to the mix of companies included in the S&P 500 index. E. The firms that were identified as ethical were equally profitable on the whole to the mix of companies included in the S&P 500 index.

C. The firms that were identified as ethical were more profitable on the whole than the mix of companies included in the S&P 500 index.

The name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products is known as its A. trademark. B. patent. C. brand. D. logo. E. identifier.

C. brand.

Initiatives such as creating corporate charitable foundations, supporting minority activities and demanding responsible business practices throughout the organization are all examples of A. stakeholder responsibility. B. social marketing efforts. C. corporate social responsibility. D. global marketing. E. logistics.

C. corporate social responsibility.

The perceived benefits, both monetary and nonmonetary, that customers receive from a product compared to the cost associated with obtaining it is referred to as A. a marketing exchange. B. relationship marketing. C. customer value. D. the marketing mix. E. benefit segmentation.

C. customer value.

American clothing company manufactures clothes to be sold in retail stores. After the clothing is manufactured, it is shipped to wholesalers who, in turn, use transportation companies to ship the product to various retail outlets. The manufacturer, wholesaler, transportation company and retailer all work together to create and deliver the product. This is an example of A. creating value. B. communicating value. C. delivering value. D. forecasting value. E. marketing value.

C. delivering value.

The combination of activities that represent everything a firm can do to influence demand for its good, service or idea is referred to as the marketing A. plan. B. concept. C. mix. D. matrix. E. model.

C. mix.

In marketing, states of felt deprivation are referred to as A. wants. B. desires. C. needs. D. cravings. E. opportunities.

C. needs.

Wants are the form that human needs take and are shaped by A. time, money, and expense. B. culture, money, and geography. C. personality, culture, and buying situation. D. lifestyle, demographics, and economic conditions. E. money, desire, and ability.

C. personality, culture, and buying situation.

In ethical decision-making, what element of the marketing mix is affected when a firm is deciding whether or not to outsource jobs to other members of the supply chain? A. product B. price C. place D. promotion E. profitability

C. place

Which marketing mix element describes what a buyer exchanges with a seller? A. product B. price C. place D. promotion E. perception

C. place

Which marketing mix element involves decisions regarding logistics and managing the supply chain? A. perception B. price C. place D. promotion E. product

C. place

Which of the following accurately depicts the stages in the evolution of marketing? A. sales orientation, production orientation, marketing concept, relationship marketing B. production orientation, marketing concept, relationship marketing, sales orientation C. production orientation, sales orientation, marketing concept, relationship marketing D. marketing concept, production orientation, sales orientation, relationship marketing E. sales orientation, production orientation, relationship marketing, marketing concept

C. production orientation, sales orientation, marketing concept, relationship marketing

All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT A. price. B. promotion. C. profit. D. place. E. product.

C. profit

Marketing is defined as A. any activity used to advertise and promote a product or service. B. the process of targeting and selecting a group of consumers or organizational buyers in order to promote a product or service. C. the process of creating, communicating, and delivering value to customers and managing those relationships in ways that benefit the organization and its employees, customers, investors and society as a whole. D. the process of managing the supply chain to ensure that products are delivered where and when customers want them. E. the set of activities needed to produce and deliver a product that produces the highest return on investment.

C. the process of creating, communicating, and delivering value to customers and managing those relationships in ways that benefit the organization and its employees, customers, investors and society as a whole.

The global network used to create and deliver products is referred to as A. the marketing chain. B. the production cycle. C. the supply chain. D. logistics. E. marketing.

C. the supply chain.

Which of the following is NOT true regarding corporate social responsibility (CSR) programs?

CSR is the sole responsibility of the marketing department.

Bloomberg LP, in partnership with the National Conference on Citizenship and Points of Light, has created a scorecard of America's top community-minded companies which they call the

Civic 50

An organization that wants to determine how well its corporate social responsibility program is working can do so by _______ . A) conducting an audit of the program B) comparing itself to the competition. C) examining its financial statements. D) assessing its promotional strategy E) determining if sales have increased.

Conducting an audit of the program

A movement made up of citizens and government entities whose focus is on protecting consumers and promoting their interests is called _______. A) consumer protectionism B) activism C) environmentalism D) humanitarianism E) consumerism

Consumerism

The act of organizations voluntarily donating some of their profits or resources to charitable causes is referred to as________. A) philanthropic marketing B) stakeholder responsibility C) corporate philanthropy D) ethical marketing E) corporate volunteerism.

Corporate philanthropy

An organization's obligation to maximize its positive impact and minimize its negative impact on society is referred to as_________ . A) stakeholder responsibility B) sustainability C) social marketing D) corporate social responsibility E) moral idealism

Corporate social responsibility

The policy or practice of employees volunteering their time or talents for charitable, educational, or other worthwhile activities, especially in the community, is called ______ . A) corporate philanthropy B) community marketing C) corporate volunteerism D) stakeholder management E) public relations

Corporate volunteerism

Which of the following questions would a firm ask if it were using the ethical decision-making framework regarding its product? A. Are the relationships between wholesalers and retailers inappropriate? B. Does the advertising message represent the product's benefits honestly? C. Should the firm increase prices due to a lack of local competition? D. What default privacy settings should be built into a website? E. Does the advertising message attack competing products rather than highlight the benefits of the firm's product?

D. What default privacy settings should be built into a website?

A local family is advertising a 5K run to raise awareness for autism since one of their children suffers from the disorder. Salina likes to run, so she decides to pay the fee to participate in the event. Afterward, she is pleased that she went and felt good about helping out the family. Would this be considered a marketing exchange? A. No, because the consumer needs of Salina were not met. B. Yes, because the family had to pay for advertising and therefore was engaged in marketing. C. No, because Salina did not receive anything for participating in the event. D. Yes, because participating in the run was exchanged for Salina's feeling of satisfaction for helping the family. E. No, because the event involved a service but not a good.

D. Yes, because participating in the run was exchanged for Salina's feeling

What is the premise behind the marketing concept? A. a company-wide focus on increasing profits B. focusing on keeping the company stakeholders satisfied C. an interest in streamlining production processes D. a focus on satisfying the needs of the customer E. utilizing all aspects of marketing to persuade consumers to buy

D. a focus on satisfying the needs of the customer

Compare the following definitions and select the one which accurately defines the term corporate social responsibility. A. an organization's responsibility to balance the desire for profit with the cost of having to employ people B. any charitable measure taken by a firm that benefits society as a whole C. an organization's responsibility to provide a good product at a fair price D. an organization's obligation to maximize its positive impact and minimize its negative impact on society E. an organization's obligation to benefit those who impact its ability to achieve its objectives

D. an organization's obligation to maximize its positive impact and minimize its negative impact on society

Which of the following is NOT one of the ethical norms spelled out in the AMA's Code of Ethics? A. transparency B. fairness C. citizenship D. balance E. honesty

D. balance

Which of the following would NOT be considered a member of a supply chain? A. manufacturers B. wholesalers C. retailers D. customers E. shipping companies

D. customers

What is the first step in the ethical decision-making framework? A. identify the ethical issue at hand B. identify the stakeholders impacted by the decision C. consider how the issue will affect the stakeholders D. determine the facts in an unbiased manner E. discuss the issue with the stakeholders

D. determine the facts in an unbiased manner

An advertisement shows a group of boys playing soccer on a hot day. When they take a break, the group runs to a cooler to find something to quench their thirst. Inside the cooler are water bottles, cans of soda, fruit juices, and Gatorade. Immediately the boys fight over the Gatorade showing that it is clearly the best choice. In this ad, liquid refreshment represents a _____, while Gatorade represents a _____. A. want; need B. want; preference C. craving; need D. need; want E. craving; preference

D. need; want

Which of the following accurately represents the 4 Ps of the marketing mix? A. product, price, promotion, and perception B. production, promotion, profit, and participation C. promotion, place, profit, and preference D. product, price, place, and promotion E. perception, preference, participation, payment

D. product, price, place, and promotion

The era in the evolution of marketing when firms produced more goods than they could sell and thus had to focus on effective sales forces to find customers for their growing production capacity was referred to as the A. sales orientation era. B. relationship marketing era. C. marketing concept era. D. production orientation era. E. customer orientation era.

D. production orientation era

A new ice cream shop in town allows customers to create their own sundaes using various flavors of ice cream and toppings. The store owners have decided to have a contest for the most unique customer creation. They are asking customers to create a sundae, take a picture of their creation and post it on their Facebook page as well as on Instagram so people can vote for their favorite. The winning creation will be featured on the shop's menu. This use of social media relates to which element of the marketing mix? A. participation B. price C. place D. promotion E. product

D. promotion

The owners of Have It Your Way Hot Dogs have decided to place an advertisement in the local minor league baseball team's program booklet. Which element of the marketing mix does this represent? A. purpose B. price C. place D. promotion E. product

D. promotion

According to your text, what is the secret of great marketing when it comes to creating value? A. convincing customers that they need a product even if they do not B. consistently creating new products for the marketplace C. figuring out how to charge the highest price for a product that customers are willing to pay D. understanding the marketplace demands before competitors do E. saturating the market with all forms of advertising promotions

D. understanding the marketplace demands before competitors do

Compare the following statements to determine which one accurately describes the impact NAFTA has had on U.S. farmers. A. Because of the heavy regulations imposed on exports, farmers have avoided exporting goods to participating NAFTA countries. B. Because of the negative view of NAFTA in other countries, U.S. farmers have found a difficult time getting their products shipped into those countries. C. Even though NAFTA has relaxed trade restrictions, farmers have been reluctant to ship products into other countries for fear of improper storage and/or contamination of their product. D. Even though farmers can now ship and sell their products to other countries, the fees imposed for doing so have not allowed farmers to generate any profit. E. Because they have been able to ship and sell their produce to other countries, NAFTA has given farmers the opportunity to expand their business and increase profits.

E. Because they have been able to ship and sell their produce to other countries, NAFTA has given farmers the opportunity to expand their business and increase profits.

Compare the following statements to determine which one best reflects the thinking behind the sales orientation era of marketing? A. We need to find more efficient means of creating quality products. B. Our entire company needs to be focused on satisfying our customers' needs. C. It's time we develop a strategy to attract and maintain more customers. D. Our products are of such great quality, they practically sell themselves. E. We'd better persuade our customers to buy our products or they will buy from our competitors.

E. We'd better persuade our customers to buy our products or they will buy from our competitors.

In marketing, an exchange refers to A. the money paid by a consumer for a product or service. B. replacing a non-effective form of advertising for a more effective one. C. two people bartering products and services for other products and services. D. updating or replacing a non-profitable product in hopes of generating more revenue. E. buyers and sellers trading things of value so that each is better off as a result.

E. buyers and sellers trading things of value so that each is better off as a result.

According to your text, taking a marketing course can help your career in all of the following ways EXCEPT A. by helping you market yourself to get a job after college. B. by helping you reach professional goals. C. by helping you position yourself relative to others competing for the same job. D. by helping you communicate your value so that you get an interview. E. by helping you determine what career field you should enter.

E. by helping you determine what career field you should enter.

Which of the following products does NOT satisfy a consumer need? A. a home security system B. a winter coat C. groceries D. a house E. cable television

E. cable television

On a personal level, as you begin looking for a job after you graduate, it will be critical for you to know how to A. deliver value. B. market value. C. explain value. D. forecast value. E. communicate value.

E. communicate value

The four Ps are more formally referred to as the marketing A. dimensions. B. concept. C. framework. D. matrix. E. mix.

E. mix

What percentage of new products fail in the marketplace? A. 5 to 10 percent B. approximately 25 percent C. 50 percent D. less than 3 percent E. over 80 percent

E. over 80 percent

According to your text, any discussion of the marketing mix typically begins with the A. place. B. price. C. promotion. D. consumers. E. product.

E. product.

Which marketing strategy was especially important during the Great Depression when consumers did not have much money and firms competed intensely for their dollars? A. customer orientation B. production orientation C. marketing concept D. relationship marketing E. sales orientation

E. sales orientation

What is a firm concerned with when it focuses specifically on the obligations an organization has to those who can affect whether or not the firm achieves its objectives? A. employee morale B. corporate social responsibility C. shareholder responsibility D. ethical marketing E. stakeholder responsibility

E. stakeholder responsibility

Marketers define customer value as A. providing a product at the lowest possible price after covering all production expenses. B. selling products that generate the least amount of customer returns or complaints. C. selling a product regardless of whether or not it meets a customer's needs and/or wants. D. providing a product or a service to a customer such that he or she will purchase that same product or service again in the future. E. the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared to the cost associated with obtaining it.

E. the perceived benefits, both monetary and nonmonetary, that customers receive from a product compared to the cost associated with obtaining it

Think about the ethical values set forth in the AMA's code of ethics. Which value is represented when a firm accepts constructive criticism from customers and other stakeholders? A. honesty B. fairness C. responsibility D. respect E. transparency

E. transparency

Marketers seeking to reduce costs and the environmental impact of their activities typically pursue a strategy of _____. A) eco-efficiency B) beyond compliance leadership C) sustainable value innovation D) eco-branding E) environmental cost leadership

Eco-efficiency

The duty to be profitable falls under which dimension of corporate social responsibility? A) Economic B) philanthropic C) ethical D) accountable E) Legal

Economic or Ethical

The laws designed to protect the natural environment against undue harm by individuals and organizations are referred to as _____. A) environmental regulations B) eco-regulations C) green laws D) nature laws E) sustainability laws

Environmental regulations

A movement of citizens, government agencies, and the business community that advocates the preservation, restoration, and improvement of the environment is referred to as _____. A) humanitarianism B) green capitalism C) environmentalism D) consumerism E) activism

Environmentalism

What key element of developing a successful corporate social responsibility (CSR) program is exhibited when a company meets with the community to understand the impact that water usage by its manufacturing plant will have on the surrounding areas? A) Integration of CSR into corporate policy at all levels of the business. B) Integration of CSR into corporate policy in all divisions of the organization. C) Good stakeholder management D) Sustainable production practices. E) Good corporate leadership

Good stakeholder management

A group of sustainability-oriented customers and the businesses that serve them are referred to as the _____. A) natural market B) black market C) green market D) eco-market E) gray market

Green Market

Ethics can be defined as ______ . A) religious principles adopted by a society B) cultural folkways present in all societies C) individual beliefs about what is good and bad, right and wrong, just and unjust, fair and unfair. D) laws and regulations governing business practices E) social ideologies universal to all societies

Individual beliefs about what is good and bad, right and wrong, just and unjust, fair and unfair.

Which of the following is NOT part of a sustainability vision? A) It should show how the firm's overall business strategy reflects its impact on society B) It should explain how the world is either enriched or diminished by the firm's goods or services C) It should explain how the firm will be profitable by engaging in sustainability initiatives D) It should address the firm's major impact on society E) It should highlight the potential benefit for each stakeholder

It should explain how the firm will be profitable by engaging in sustainability initiatives

What is meant by good corporate leadership as a key element in developing a successful corporate social responsibility (CSR) program? A) The emphasis in business thinking has shifted from people to process; leaders must understand the process of developing a CSR program in order to implement it B) The organization's leaders should seek significant interaction with the stakeholders who influence the decisions and behavior of the company. C) Leaders are most effective when they remove themselves from the process of developing a CSR program, leaving it instead to the people who must implement the program on a daily basis. D) CSR policies and procedures are most useful when they are written down, well understood, and endorsed by the company's leaders. E) Leaders who can thoughtfully balance the four dimensions of CSR and communicate their intentions accordingly generally succeed at implementing socially responsible behaviors.

Leaders who can thoughtfully balance the four dimensions of CSR and communicate their intentions accordingly generally succeed at implementing socially responsible behaviour

All of the following are ways in which a business might be engaging in sustainable marketing EXCEPT: A) buying only fair-trade organically produced supplies B) redesigning a product's package to use less energy C) making sure that production levels can cover the business' costs D) installing energy-efficient production equipment E) using only soy-based ink in advertisements

Making sure that product levels can cover the businesses cost

Which department is primarily responsible for the ideas and strategies that make up a corporate social responsibility (CSR) program in most organizations A) finance B) production C) operations D) marketing E) sales

Marketing

When marketers evaluate whether a marketing campaign was successful by using metrics to measure performance, they are engaged in

Marketing Analytics

The process of developing an organization's corporate social responsibility program begins when a firm incorporates a focus on fulfilling the economic, legal, ethical and philanthropic dimensions into its ________. A) advertising strategy B) vision statement C) mission statement D) business plan E) marketing strategy

Marketing strategy

What is the biggest mistake marketers make when evaluating the success of their CSR programs? A) including all significant stakeholder groups in the auditing process. B) using both quantitative and qualitative measurements C) not including all significant stakeholder groups in the auditing process D) not evaluating the CSR program because of the financial impact it will have on the firm E) failing to evaluate the financial impact the auditing process will have on the organization.

NOT including all significant stakeholder groups in the auditing process

The advent of social media as a communication tool for marketers has made companies _____ A) less willing to communicate with their customers B) reactive in their communications approach C) abandon other sources of customer communication D) hesitant about communicating on that platform E) proactive in their communication approach

Proactive in their communications approach

When it comes to encouraging sustainable consumer behavior, marketers must overcome consumers' negative perceptions. According to your text, these negative perceptions revolve around the _____. A) product's quality B) product's misleading advertising C) product's sustainability claims D) product's price E) product's distribution

Product's quality

Which of the following is NOT one of the four dimensions of corporate social responsibility? A) philanthropic B) Economic C) Legal D) ethical E) social

Social

The view that an organization has an obligation to those who can impact the achievement of its objectives is referred to as _______ . A) corporate philanthropy B) stakeholder responsibility C) benefit marketing D) social marketing E) corporate volunteerism

Stakeholder responsibility

A commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs is referred to as ________ . A) eco-management B) sustainability C) green marketing D) consumerism E) environmentalism

Sustainability

The 1987 United Nations report Our Common Future laid the groundwork for a modern understanding of ______ . A) consumerism B) corporate philanthropy C) environmentalism D) corporate volunteerism E) sustainability

Sustainability

The process of creating, communicating, and delivering value to customers in a way that recognizes and incorporates the concept of sustainability is referred to as ________ . A) sustainable marketing B) green marketing C) value-driven marketing D) environmental marketing E) eco-management

Sustainable marketing

A clothing manufacturer has decided to buy its cotton only from those growers that grow it organically. This is an example of _____. A) tactical greening B) quasi-strategic greening C) strategic greening D) product greening E) global greening

Tactical greening

sustainability

a commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs

sustainability

a commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs.

green market

a group of sustainability oriented customers and the businesses that serve them

green market

a group of sustainability oriented customers and the businesses that serve them.

consumerism

a movement made up of citizens and government entities that focuses on protecting consumers and promoting their interests

environmentalism

a movement of citizens government agencies and the business community that advocates the preservation restoration and improvement of the environment

Coca-Cola's roadmap guides every aspect of its business. In terms of the planet, Coca-Cola strives to Be a responsible citizen that makes a difference by helping build and support sustainable communities. This is an example of

a sustainability vision statement

strategic greening

a type of environmental marketing activity that integrates and coordinates all of the firms activities on environmental issues across every functional area

tactical greening

a type of environmental marketing activity that involves implementing limited change within a single area of the organization

tactical greening

a type of environmental marketing activity that involves implementing limited change within a single area of the organization.

quasi strategic greening

a type of environmental marketing activity that involves substantive changes in marketing actions as well as broad based coordination among non marketing activities

corporate social responsibility (CSR)

an organization's obligation to maximize its positive impact and minimize its negative impact on society. philanthropic, ethical, legal, and economic

corporate social responsibility

an organizations obligation to maximize its positive impact and minimize its negative impact on society

According to your text, in order to get stakeholders to agree to sustainability initiatives, marketers must

communicate a sustainability vision that highlights the potential benefits for each stakeholder.

Beyond Compliance Leadership

communicating to stakeholders the company's attempts to adopt environmentally friendly practices

Every year the high school hosts a faculty-staff basketball game to raise money for the American Heart Association. Along with a cash donation, the local Subway restaurant donates sandwiches that the high school can sell at the game to earn extra money for the charity. By doing so, Subway is engaged in

corporate philanthropy

The Dannon Company supports the National Breast Cancer Foundation through its Give Hope with Every Cup initiative. When consumers purchase specially marked Dannon products and enter the under-the-lid codes online, Dannon will make a donation to the foundation, for a total donation of up to $1.5 million. This is an example of

corporate philanthropy

An organization's obligation to maximize its positive impact and minimize its negative impact on society is referred to as

corporate social responsibility

In 2010, an explosion on a BP oil rig in the Gulf of Mexico caused loss of life and grave environmental consequences for the surrounding area. In response, BP worked to clean up the area, compensated people affected by the impact of the accident, and supported the economic recovery of Gulf Coast tourism and seafood industries impacted by the oil spill. BP has also committed funding for independent research on the Gulf of Mexico ecosystem so it can better understand and mitigate the potential impacts of oil spills. In short, BP exhibited

corporate social responsibility

IBM's Corporate Service Corps was launched in 2008 to empower IBM employees to act as global citizens by performing community-based assignments throughout the developing world. IBM has sent over 2,400 volunteers to lend their skills to organizations in more than 30 countries. This is an example of IBM's commitment to

corporate volunteerism

For a(n) _______ strategy to be effective, consumers must recognize a noticeable benefit from their purchase.

eco-branding

environmental marketing strategies

eco-efficiency, beyond compliance leadership, eco-branding, environmental cost leadership, sustainable value innovation.

The duty to be profitable falls under which dimension of corporate social responsibility?

economic

U.S. marketers rationalize sustainability strategies using

economic terms and arguments

Dimensions of Corporate Social Responsibility

economic, legal, ethical, philanthropic

According to your text, which of the following is a central tenet of social media as it relates to CSR initiatives?

engaging with the community to build a profitable organization

Because green products sometimes cost more to produce than traditional products, organizations providing these products can attempt to recover the cost of their ecological investments and generate a profit by utilizing a

environmental cost leadership strategy

Firms seeking a price premium for their environmentally friendly products often adopt a(n)

environmental cost leadership strategy

The laws designed to protect the natural environment against undue harm by individuals and organizations are referred to as

environmental regulations

A movement of citizens, government agencies, and the business community that advocates the preservation, restoration, and improvement of the environment is referred to as

environmentalism

As noted in your text, 96 percent of _______ consumers say that protecting the environment is important to them.

european

A beyond compliance leadership strategy entails re-shaping the industry through the creation of differential value for consumers and through making contributions to society in the form of both reduced costs and reduced environmental impact.

false

A firm that redesigns its product packaging in order to use less material and water to manufacture it is involved in tactical greening.

false

An example of corporate philanthropy would be when a company that earns a profit decides to give each of its employees a bonus.

false

Consumerism is a movement of citizens, government agencies, and the business community that advocates the preservation, restoration, and improvement of the environment.

false

Sustainability is the idea that companies should be able to sustain production levels equal to consumer demand.

false

The end result of adhering to environmental regulations is that firms lose revenue in the process.

false

The finance department is typically responsible for developing an organization's corporate social responsibility program.

false

The four dimensions of corporate social responsibility are: ethical, legal, economic, and social.

false

The moral standards expected by a society are referred to as social principles.

false

environmental cost leadership

firms seeking a price premium for their environmentally friendly products

Eco Branding

focus on creating a credible green brand

What key element of developing a successful corporate social responsibility (CSR) program is exhibited when a company meets with the community to understand the impact that water usage by its manufacturing plant will have on the surrounding areas?

good stakeholder management

Franco runs a small grocery store. His customers have been complaining about the lack of organically-grown produce he offers for sale. Franco himself believes in sustainability, so he has made the decision to only carry organically grown produce. In addition, he is adding grass-fed beef and organic chicken products as well. Franco and his customers would be considered part of the

green market

Failure to adhere to the _______ dimension of corporate social responsibility led to the demise of Enron, Arthur Andersen, and WorldCom.

legal

Which two dimensions form the foundation of corporate social responsibility in that they are required of a firm?

legal and economic

Of the global challenges and opportunities to implementing sustainability efforts highlighted in your text, which can limit the availability of or increase the prices on sustainable goods for consumers?

political barriers

When it comes to encouraging sustainable consumer behavior, marketers must overcome consumers' negative perceptions. According to your text, these negative perceptions revolve around the

product's quality

sustainable value innovation

re shape the industry, reduce costs, reduce environmental impact, create a new market space, make the competition irrelevant by giving the customer more value at a lower price

Eco Efficiency

seeking to reduce costs and the environmental impact of activities

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

stakeholder responsibility

A commitment to adopting a lifestyle that meets the needs of the present without compromising the ability of future generations to meet their own needs is referred to as

sustainability

Patagonia, a California-based clothing company, is deeply committed to the environment. The company makes fleece jackets out of recycled bottles, uses solar panels to generate most of the electricity at its headquarters, and even tells its customers in its advertisements to think twice before buying anything, all in an effort to reduce its carbon footprint. This is an example of how Patagonia is engaged in

sustainable marketing

The process of creating, communicating, and delivering value to customers in a way that recognizes and incorporates the concept of sustainability is referred to as

sustainable marketing

The practice of recreational traveling in a way that maximizes the social and economic benefits to the local community and minimizes the negative impact on cultural heritage and the environment is referred to as

sustainable tourism

Which environmental marketing strategy entails re-shaping the industry through the creation of differential value for consumers and through making contributions to society in the form of both reduced costs and reduced environmental impact?

sustainable value innovation strategy

A clothing manufacturer has decided to buy its cotton only from those growers that grow it organically. This is an example of

tactical greening

corporate philanthropy

the act of organizations voluntarily donating some of their profits or resources to charitable causes

environmental regulations

the laws designed to protect the natural environment against undue harm by individuals and organizations

ethics

the moral standards expected by a society

stakeholder responsibility

the obligations an organization has to those who can affect the achievement of its objectives

corporate volunteerism

the policy or practice of employees volunteering their time or talents for charitable educational or other worthwhile activities especially in the community

sustainable tourism

the practice of recreational traveling in away that maximizes the social and economic benefits to the local community and minimizes the negative impact on cultural heritage and the environment.

sustainable marketing

the process of creating communicating and delivering value to customers in a way that recognizes and incorporates the concept of sustainability

sustainable marketing

the process of creating, communicating, and delivering value to customers in a way that recognizes and incorporates the concept of sustainability.

Corporate volunteerism is the policy or practice of employees volunteering their time or talents for charitable, educational, or other worthwhile activities, especially in the community.

true

Employees tend to be engaged when they work for a company that expresses sustainability goals and holds itself accountable to its stakeholders.

true

One of the easiest ways for marketers to engage in sustainable marketing is to seek ways to cut costs using sustainable practices as a guideline.

true

Tactical greening involves implementing limited changes within a single area of the organization.

true