marketing test #1

which of the following are laws aimed at maintaining a competitive environment?

- clayton act - wheeler-lea act - federal trade commission act (FTC)

consumerism is a social force that aids and protects the consumer by exerting which of the following?

- legal pressures - economic pressures - moral pressures

which of the following is an example of indirect competition?

A Sony home entertainment system competing with a Jacuzzi hot tub

Bradford Corporation offers to match its employees monetary donations to charities. The Bradford Corporation is operating at which level of the pyramid of social responsibility?

Philanthropic

Pom Wonderful advertised that drinking their pomegranate juice daily could prevent heart disease and other medical conditions. What regulatory force would be responsible for stopping Pom Wonderful's false advertising claims?

The Federal Trade Commission (FTC), a government regulatory group

which of the following statements is true regarding the dimensions of the marketing environment?

The dimensions of the marketing environment influence the decisions marketers make about the marketing mix.

competitive strategy involves asking all of the following questions except:

What should we sell?

which of the following ethical issues is associated with firms' promotion strategies?

bait-and-switch advertising

consumers have the right to

be safe, be heard, be informed, choose among various products

The Dodd-Frank Wall Street Reform and Consumer Protection Act:

created the Consumer Financial Protection Bureau (CFPB) to oversee checking accounts, private student loans, mortgages, and other financial products.

which of the following is NOT one of the dimensions of the marketing environment?

customer

which of the following are examples of ethical issues in distribution

dealer rights and predatory competition

_____ is general decrease in prices

deflation

____ has ended total monopoly protection for most utilities, such as electricity and natural gas providers.

deregulation

marketers face two types of competition:

direct and indirect

companies that are ethically responsible have already met _____ responsibilities.

economic and legal

which of the following components of the marketing environment primarily influences consumer buying power?

economic environment

A company that is _____ responsible sells goods and services that are needed by society and is profitable in doing so.

economically

before a firm can be ethically responsible, it first must be:

economically and legally responsible

The marketing environment includes all of the following dimensions except:

ethical

sustainable resources, paying fair wages, and providing health insurance for employees are examples of actions that would be found at what dimension of the pyramid of social responsibility?

ethical responsibility

consumerism protects consumers by:

exerting legal, moral, and economic pressures on business and government.

During an economic slowdown, consumers are usually unwilling to do all of the following except:

focus on functional, more affordable purchases.

Many banks offer mobile check deposit that allows customers to deposit a check by taking a picture of the front and back of the check through their mobile phones. This demonstrates that technology can _____.

improve customer service

_____ involves competition with products that are easily substituted with others.

indirect competition

_____ is rising prices caused by some combination of excess demand and increasing cost of factors and production

inflation

Regulatory agencies are established at all of the following levels EXCEPT

international

during times of economic contraction, marketers are likely to____

lower prices and increase promotions

the first phase of the US government regulation was intended to _____.

maintain a competitive environment

A downside of technology is that it can erode existing markets, making the products in those markets _____.

obsolete

odd-size packaging and planned obsolescence are examples of ethic issues in _____.

product strategy

Nutritional labels on food items reflect consumers':

right to be informed

The four basic consumer rights include the right to be heard, the right to be safe, the right to choose freely, and:

right to be informed

The Better Business Bureau (BBB) is an example of a

self-regulatory agency

marketing ethics are primarily concerned with marketers:

standards of conduct and values

All of the following are true about technology EXCEPT

technology often increases prices

which of the following was a prime reason for the formulation of regulations aimed at protecting consumers?

the need to ensure that products are produced and sold safely

the gross domestic product (GPD) is:

the sum of all goods and services produced by a nation in a year

It's a very exciting time for you. Just as you're about to open a high-end dog grooming salon, consumer spending is brisk; buyers are willing to spend more for premium brands; and there is widespread growth in service businesses. Which of the following statements accurately describes this stage in the business cycle?

this is the prosperity stage

the most basic level of social responsibility requires that a company ____.

to be profitable