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

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Question 171

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Scott Stevens is managing director for Northeastern Mutual Company, a financial services firm specializing in retirement programs, college savings programs, and life insurance services. Scott firmly believes that dress and grooming are important elements in creating a positive first impression and provides training to his account managers regarding the dress code and grooming policy. Northeastern does not allow any facial hair for men and stresses that women should pull their hair back away from their face. Research has shown that people view men with facial hair as dishonest and believe that they might be hiding something. Facial hair is also associated with criminal activity as a higher proportion of men who are arrested for violent actions have facial hair. In addition, a woman who wears their hair in a style that covers their face also has been shown to be perceived as dishonest. Scott reminds his employees to wear white shirts because the "good guys" always wear white. The Northeastern Mutual Company dress and grooming policies are an example of the importance of ______ in influencing ethical decision-making.

A) corporate culture
B) opportunity
C) appearance
D) personal values

E) B) and C)
F) None of the above

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Question 172

Multiple Choice

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Tasha recently changed employers within the same industry. At her old company, employees routinely took home company pens, pencils, paperclips, and note pads, and they frequently made personal long-distance calls on company phones. Tasha observes that employees do not engage in such practices at her new company. What Tasha sees is best described as a difference in

A) significant others.
B) profit objectives.
C) corporate culture.
D) legal climate.
E) corporate goals.

F) C) and E)
G) C) and D)

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Question 173

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An oligopoly exists when a firm offers a product that has no close substitutes, making the firm the sole source of supply.

DoneRight Inc. is a very profitable automobile repair shop. The company is well known for its great service and involvement in the community, but it fails to properly dispose of its used oil as outlined in environmental regulations. DoneRight is failing in its ____ responsibilities.

A marketer's failure to inform customers about changes in the quality of its products does not constitute an ethical issue.

Your company is planning to increase its political influencing activities in the next fiscal year in an attempt to shape upcoming, key legislation in your favor. Which of the following steps should you consider to accomplish this goal?

Blue Cross and Blue Shield of Illinois is a health insurance company that provides millions of members across the state of Illinois with comprehensive and affordable health plans. The Illinois-based company is a licensed affiliate of the Blue Cross and Blue Shield Association, which operates affiliate organizations in all 50 states. The Association is one of the top five organizations who provides millions in contributions to lobby state and federal legislators or senators to enact legislation, which would be favorable for their member companies. In 2014, the Association spent $17 million and was active involved in the Affordable Care Act and legislation regarding Medicare. The Blue Cross and Blue Shield Association is engaging in a ______ approach to environmental forces.

Provide an overview of important social responsibility issues in marketing, and indicate their impact on marketing decisions.

Companies delivering mixed concrete know that it cannot be shipped farther than twenty-five miles because the concrete might harden in the truck. Citrus County Concrete Company is the only supplier of mixed concrete to customers within a thirty-mile radius. Citrus County Concrete is an example of which one of the following competitive structures?

The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in

________________ promote ethical behavior by reducing opportunities for unethical behavior; employees know what is expected of them and what kind of punishment waits if rules are violated.

Which of the following is not a dimension of social responsibility and marketing citizenship?

How can a code of conduct encourage ethical behavior in an organization?

Which of the following terms refers to consumers' propensity to buy?

Monitoring the competitive environment guides marketers in developing competitive advantages.

At the beginning of each of your marketing strategy team meetings, each team member gives a presentation on the current status of a key force in your company's marketing environment.  The following brief presentations were given by your team members: John's presentation focused on the competitive forces in your industry. Karen's presentation focused on the internal dynamics in your company. Brandon's presentation focused on the political events emanating from Washington D.C. Susan's presentation focused on what is driving the technology changes happening in the country. Beverly's presentation focused on the most recent economic projections issued by the Federal Reserve Bank of New York. After reviewing the presentations, you can conclude that

Scenario 3.5. The Consumer Financial Protection Bureau settled a claim with the Bank of America for deceiving customers and unfairly billing them for services such as credit monitoring and identity theft protection. Bank of America agreed to provide refunds to 2.9 million people and pay $45 million in fines for their illegal credit card practices. Their deceptive practices dated to 2000 where they had billed customers for products such as "Privacy Guard" or "Privacy Assist" without first obtaining authorization for the products. The $45 million in fines includes $25 million as a civil penalty that will be paid to the Office of the Comptroller of the Currency and $20 million to the Consumer Financial Protection Bureau. The Bureau also claims that Bank of America deceived about 1.4 million customers into making about $268 million in payments by, among other things, improperly telling them the first 30 days of coverage were free or the benefits were greater than existed. Refer to Scenario 3.5. If the Consumer Financial Protection Bureau decides to contact the Federal Trade Commission (FTC) to investigate Bank of America and its practices regarding deceptive billing practices and if the FTC believes that Bank of America has violated a law, the FTC would first:

The following are some predictions from Smithsonian Magazine regarding the future sociocultural dynamics in the world: The United States population will expand by 100 million. The portion of the population that is currently at least 65 years old is expected to increase from 13 percent to 20 percent by 2050 in America. By 2050, the working age group of people between 15 and 64 years old is expected to grow by 42 percent in the United States, but decline by 10 percent in China, 25 percent in Europe, 30 percent in South Korea and 40 percent in Japan. With respect to these predictions, which one of the following statements is true?

Decreases in taxes lead to decreases in disposable income.

In addition to the proliferation of new organic brands many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in