Marketing

The Sherman Act focuses on which component of the marketing mix? Multiple choice question. product price place promotion

Price

True or false: When it comes to ethics and legality, businesspeople should understand that if they make a decision that is unethical, that decision will always be illegal as well. True false question. TrueFalse

False

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

Small

Which two laws forbid monopolies or other actions that cause restraint in trade? Multiple select question. The Anti-Monopoly Law The Copyright Act The Clayton Act The Sherman Antitrust Act

The Clayton Act The Sherman Antitrust Act

Public opinion surveys indicate that most people feel the ethical standards of business executives Blank______. Multiple choice question. are "extremely high" are not "very high" are "non-existent"

are not "very high"

Which two of the following are the most common motivations for unethical consumer behavior? Multiple select question. consumer believes he or she can get away with it consumer's rationalization that the act is justified consumer's economic need consumer's psychological instability

consumer believes he or she can get away with it; consumer's rationalization that the act is justified

Which two of the following are the most common motivations for unethical consumer behavior? Multiple select question. consumer's psychological instability consumer's rationalization that the act is justified consumer's economic need consumer believes he or she can get away with it

consumer believes he or she can get away with it; consumer's rationalization that the act is justified

Which environmental force consists of restrictions state and federal laws place on business with regard to the conduct of its activities? Multiple choice question. competitive economic legislative regulatory

regulatory

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

relative to particular societies

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

Better Business Bureau

The Sherman Antitrust Act and the Clayton Act were passed to encourage Blank______. Multiple choice question. intellectual property economic stability competition consumer safety

Competition

The right to safe products and to be informed by businesses that sell them are part of the ________ Bill of Rights enacted in 1962 by President John F. Kennedy.

Consumer

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

Consumerism

The moral principles and values that govern the actions and decisions of an individual or group are referred to as . (one word)

Ethics

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

Laws

Social responsibility includes the concepts of responsibility, stakeholder responsibility, and societal responsibility.

Profit

Though the Blank______ 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. Madrid Protocol Sherman Act Free Trade Act Patriot Act

Sherman Act

Advertising and promotion are regulated by which governmental body? Multiple choice question. The Federal Trade Commission The Consumer Product Safety Commission The Federal Advertising Commission The Department of Justice

The Federal Trade Commission

Consumerism can be described as Blank______. Multiple choice question. an environmental force affecting business related to alternate firms that provide luxury products a movement to increase the power and rights of consumers in dealing with institutions an attitude towards products in which they are highly prized and that is associated with excessive consumption an attitude towards products in which all participants in an economy enjoy equal access to products

a movement to increase the power and rights of consumers in dealing with institutions

A systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility is known as Blank______. Multiple choice question. sustainable development an ethics examination a moral metrics system a social audit

a social audit

a. Barriers to Entry b. Power of buyers c. Power of suppliers d. Existing rivalries

a. Potential competitors find it difficult to recreate the wide distribution that Western Union has for its money transfer services. b. It is easy and inexpensive for customers to switch to a different grocery store. c. There is only a single producer for a vital component in a cell phone. d. Airlines offer discounts for making reservations early or charge penalties for canceling reservations.

a. exclusive dealing b. requirements contracts c. exclusive territorial distributorship d. tying arrangement

a. an arrangement a manufacturer makes with a reseller to handle only its products and not those of competitors b. a buyer must purchase all or part of its needs for a product from one seller for a time period c. a manufacturer grants a distributor the sole rights to sell a product in a specific geographical area d. a seller requires the purchaser of one product to also buy another item in the product line.

Self-regulation can be described as Blank______. Multiple choice question. an attempt by government to limit the number of legislative barriers it places on new and existing businesses an alternative to government control in which industry attempts to police itself an action of companies to limit their production to stop declines in prices an effort of consumers to limit their purchase of goods and services in recessionary periods

an alternative to government control in which industry attempts to police itself

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

competitors

Select three components of the competitive environment. Multiple select question. technology advancements bargaining power of buyers and suppliers substitution possibilities existing rivalries

bargaining power of buyers and suppliers substitution possibilities existing rivalries

A social audit is used by organizations to Blank______. Multiple choice question. measure the ethical behavior of accounting professionals develop, implement, and evaluate social responsibility efforts develop tools for applying personal moral philosophies to business dilemmas report social responsibility through government channels

develop, implement, and evaluate social responsibility efforts

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 Blank______. Multiple choice question. ideals rules ethics principles

ethics

What two actions can the FTC take regarding deceptive or misleading advertising and unfair business practices? Multiple select question. order that all future advertising be reviewed by the FTC before being used order jail time for repeat offenders issue a cease and desist order order corrective advertising

issue a cease and desist order order corrective advertising

Two personal moral philosophies are Blank______, which considers certain rights and duties as universal, and Blank______, which focuses on the greatest good for the greatest number. Multiple choice question. social responsibility; sustainability utilitarianism; social responsibility moral idealism; sustainability moral idealism; utilitarianism

moral idealism; utilitarianism

Moral idealism and utilitarianism are two prominent personal Blank______ that are important in marketing. Multiple choice question. promotion strategies responsibility goals relationship-building techniques moral philosophies

moral philosophies

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

moral standards are relative to particular societies

Social responsibility means that organizations are Blank______. Multiple choice question. required to put customers and their needs ahead of profitability concerns capable of developing and implementing social interaction strategies and should make this a priority part of a society and accountable to it for their actions responsible for affecting positive and permanent cultural change

part of a society and accountable to it for their actions

A whistle-blower is an employee who Blank______. Multiple choice question. collects trade secrets about a company's competitors takes money from his or her employer in exchange for telling the employer about misconduct in the firm willingly rejects a company's formal statement of ethical principles or rules of conduct reports unethical or illegal actions of his or her employer

reports unethical or illegal actions of his or her employer

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

social responsibility

What are common ways in which consumers fail to act ethically or responsibly? (Select all that apply) Multiple select question. pirating music providing misleading information on labels putting inaccurate information on credit applications submitting phony insurance claims

submitting phony insurance claims; putting inaccurate information on credit applications; pirating music

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

the Consumer Bill of Rights

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

the Robinson-Patman Act

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

the publics expectations of ethical business behavior have increased ethical business conduct may have declined

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

tying arrangements requirement contracts exclusive territorial distributorships exclusive dealings

Employees who report unethical or illegal actions of their employers are engaged in Blank______. Multiple choice question. corruption espionage whistle-blowing social auditing

whistle-blowing