marketing smartbook questions

Though the ________ did not explicitly make the practice of price fixing illegal, courts have subsequently relied on it to find it to be so. Multiple choice question. Sherman Act Free Trade Act Madrid Protocol Patriot Act

Sherman Act

An example of ________, is the elimination of passwords based on facial or fingerprint recognition. Multiple choice question. wearable technology authentication technology automation blockchain

authentication technology

To do a thorough environmental scan, a marketer must consider both current and potential ________ in designing a marketing strategy. Multiple choice question. tactics products competitors promotions

competitors

Gross, disposable, and discretionary are three components related to ______. Multiple choice question. consumer spending gross domestic product consumer income inflation

consumer income

A ______ market is one or more specific groups of potential consumers toward which an organization directs its marketing program. Multiple choice question. promotional test target reliable

target

A(n) _____ _____ is a specific group of potential customers toward which an organization directs its marketing program. (Enter one word in each blank.)

target market

Which environmental force is most likely to result in replacement of existing products or companies? Multiple choice question. technology economic competitive regulatory

technology

What is the objective of marketing? Multiple choice question. to satisfy only consumer wants to satisfy both consumer needs and wants to create consumer needs and wants to satisfy only consumer needs

to satisfy both consumer needs and wants

Select the four issues related to distribution that are monitored by the government. Multiple select question. tying arrangements price fixing requirement contracts exclusive dealings exclusive territorial distributorships price discounting

tying arrangements requirement contracts exclusive dealings exclusive territorial distributorships

Economic espionage and corruption are unethical behaviors that negatively affect ______.

competitors

The ________ might issue a cease and desist order or require corrective advertising as a response to deceptive business practices. Multiple choice question. EEOC FTC BBB EU

FTC

The legal concept of caveat emptor closely translates to ______. Multiple choice question. "the seller has the advantage" "the buyer has the advantage" "let the seller beware" "let the buyer beware"

"let the buyer beware"

Which statement supports the idea that good marketing is not an easy task? A.The number of new products that enter the marketplace each year is relatively small. B.Thousands of new products fail in the marketplace each year. C.The promotion of new products is being handled by the developers of the product and not the marketing team.

B

The best known self-regulatory group is the ______. Multiple choice question. Federal Trade Commission Small Business Administration Food and Drug Administration Better Business Bureau

Better Business Bureau

________ is a movement to increase the influence, power, and rights of consumers in dealing with institutions. Multiple choice question. Consumerism The Consumer Protocol Consumer behavior The Consumer Product Safety Commission

Consumerism

Which of the following factors is not required for marketing to occur? Multiple choice question. A. two or more parties with unsatisfied needs B. the desire and ability to satisfy these needs C. a way for the parties to communicate D. a retail location E. something to exchange

D

Select two reasons for the state of perceived ethical business conduct being at its present level. Multiple select question. Ethical business conduct may have declined. There is decreased diversity of value systems in society. There has been a rapid proliferation of business regulation. The publics' expectations of ethical business behavior have increased.

Ethical business conduct may have declined. The publics' expectations of ethical business behavior have increased.

Which two of the following are the broad categories that should be considered when analyzing the economic component in an environmental scan? Multiple select question. Macroeconomic conditions Political environment Exchange rates Consumer income

Macroeconomic conditions Consumer income

_____ is the activity for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Marketing

Which two of the following are personal moral philosophies that have the most direct bearing on marketing practice? Multiple select question. Moral idealism Hedonism Normative ethics Utilitarianism

Moral idealism Utilitarianism

Which statement about regulation as an environmental force is true? Multiple choice question. Regulation often places restrictions on the activities of businesses. It typically results in eliminating competition. Regulation has failed to protect consumers' safety. Regulation exists to protect consumers, but not companies.

Regulation often places restrictions on the activities of businesses.

Customer value reflects the relationship of a combination of ________ relative to a specific price, or what the customer gets for what she gives. Multiple choice question. costs benefits identifying features products

benefits

A company's ______ can be described as the set of values, ideas, and attributes that is learned and shared among its members. Multiple choice question. culture ethics moral standards bill of rights

culture

According to the AMA definition of marketing, who benefits from marketing activities? (Select all that apply) Multiple select question. customers government regulators partners society at large

customers partners society at large

Marketing is an activity that creates value for customers, clients, partners, and society at large. A firm does this by ______. (Select three answers) delivering offerings creating offerings expanding markets selecting markets communicating offerings segmenting offerings

delivering offerings creating offerings communicating offerings

Which two are the most common unethical behaviors when it comes to competition in business? Multiple select question. privacy violations sale of faulty products economic espionage corruption

economic espionage corruption

Which component of an environmental scan pertains to the income, expenditures, and resources affecting the cost of running a business or household? Multiple choice question. finance competitive industry economy

economy

The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called ______. Multiple choice question. demographic shifts multicultural marketing movement analysis environmental scanning

environmental scanning

The moral values that govern the actions and decisions of an individual or group and serve as guidelines on how to act rightly and justly when faced with a moral dilemma are referred to as ______. Multiple choice question. principles ideals rules ethics

ethics

Select the three items that are economic espionage activities. Multiple select question. illegal trespassing corruption bribery fraud electronic hacking

illegal trespassing fraud electronic hacking

Environmental scanning is necessary for an organization to ______. Multiple choice question. realize its social responsibility goals advance its technological research and development identify the needs of its "green" suppliers and customers interpret trends that may be a source of opportunity

interpret trends that may be a source of opportunity

Society's values and standards that are enforceable in the courts are referred to as ______. Multiple choice question. ethics moral duties social norms laws

laws

Culture incorporates the set of values, ideas, and attitudes that are ________ and shared among the members of a group. Multiple choice question. flexible in-born written learned

learned

Product, price, promotion, and place are elements that make up the ______. Multiple choice question. customer value proposition marketing strategy target market marketing mix

marketing mix

To better understand the needs of prospective customers, marketers use ______. Multiple choice question. executive leadership customer loyalty corporate entrepreneurship marketing research

marketing research

Two personal moral philosophies are ________, which considers certain rights and duties as universal, and ________, which focuses on the greatest good for the greatest number.

moral idealism; utilitarianism

What is considered a human rights abuse by an American company may be viewed as an acceptable business practice in China, which illustrates that ______. Multiple choice question. the United States has more highly evolved ethical practice moral standards are relative to particular societies better ethics comes with increased standard of living the United States is often overly critical of foreign business practices

moral standards are relative to particular societies

Universal Music Group, Sony Music Entertainment, and Warner Music Group together control the majority of the market share in the music industry. What form of competition does this represent? Multiple choice question. monopolistic competition oligopoly pure competition monopoly

oligopoly

Environmental forces that shape the nature of an organization's actions include social, economic, technological, competitive, and ______ forces. regulatory managerial ethical relationship

regulatory

One way that technology improves production is by helping manufacturers avoid creating waste by reducing the amount of packaging they use. This is referred to as ______. Multiple choice question. tech-cycling precycling recycling upcycling

precycling

Inflation may harm marketers when ______. Multiple choice question. prices decrease to the benefit of their competitors the cost of producing goods plummets the low prices are only available to consumers for a short time prices rise faster than consumer incomes

prices rise faster than consumer incomes

Which element of the marketing mix aims to create value for consumers by providing features and benefits to satisfy those consumers' needs? Multiple choice question. price place promotion product

product

Select the elements that make up the marketing mix. (Select all that apply) Multiple select question. profit product promotion place price

product promotion place price

TeaTime, a manufacturer of tea, has a new product that is currently only available in stores located in China. Knowing that it has customers around the world, TeaTime advertises the product on its Facebook page and will ship the product to customers via FedEx until the product is made available for purchase in other stores worldwide. In this scenario, Facebook serves as a ______ element and FedEx serves as a ______ element in TeaTime's marketing mix. product; place product; price promotion; product promotion; place

promotion; place

Because culture is a socializing force that dictates what is morally right, moral standards are ______. Multiple choice question. uniform across both time and place completely fluid over time relative to particular societies nearly uniform among all societies

relative to particular societies

In the United States, the majority of new jobs are generated by _______ businesses. Multiple choice question. nonprofit small foreign large

small

Demographic characteristics and the culture of a population are the basis for ________ forces. Multiple choice question. economic social regulatory competitive

social

Profit responsibility, stakeholder responsibility, and societal responsibility are the three concepts of ______. Multiple choice question. personal moral philosophy a social audit business ethics social responsibility

social responsibility

The fact that organizations are part of a larger society and are accountable to that society for their actions is the essence of ______. Multiple choice question. social responsibility utilitarianism profit responsibility moral idealism

social responsibility

Marketing typically impacts which of the following groups in society? (Select all that apply) suppliers customers regulatory agencies shareholders

suppliers customers shareholders

The right to be informed and the right to choose, as both pertain to the exchange process in marketing, are part of ______. Multiple choice question. the Consumer Bill of Rights the Telephone Consumer Protection Act the Foreign Corrupt Practices Act the AMA Code of Ethics

the Consumer Bill of Rights

Companies that use computer chips in their products that allow the product to be connected to a network are using ______. Multiple choice question. the Internet of Things an extranet a blockchain electronic commerce

the Internet of Things

The act that makes it unlawful to discriminate in prices charged to different purchasers of the same product is called ______. Multiple choice question. the Equal Pricing and Labeling Act the Clayton Act the Fair Price Act the Robinson-Patman Act

the Robinson-Patman Act

Economic espionage is ______. Multiple choice question. the clandestine collection of trade secrets or proprietary information about competitors giving or receiving kickbacks in the exchange process observing coworkers in the workplace without their knowledge to gain an advantage in one's own work the intentional misrepresentation of company financial documents to support current practices and potential growth

the clandestine collection of trade secrets or proprietary information about competitors