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Exam 3: Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

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Question 181

Multiple Choice

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In many geographic areas, there is only a single provider for gas and electric service for businesses and consumers. However, the government regulates that firm to ensure price protection for the buyer. This is an example of

A) pure competition.
B) a pure monopoly.
C) an oligopoly.
D) monopolistic competition.
E) a megopoly.

F) C) and D)
G) A) and B)

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Question 182

Multiple Choice

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Small businesses account for __________ of the gross domestic product (GDP) .

A) 21 percent
B) 32 percent
C) 44 percent
D) 68 percent
E) 82 percent

F) C) and D)
G) A) and B)

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Question 183

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Burroughs Wellcome is the developer and maker of AZT, which is a drug to treat persons afflicted with AIDS. The firm charges each patient $6,500 annually, more than many AIDS patients can afford. This is an example of the manufacturer adhering to its

Making counterfeit copies of Gucci purses, Tommy Hilfiger sportswear, and other international brands is pervasive in China because laws protecting intellectual property are unclear and sporadically enforced. Even when sanctions are applied, they are minimal, typically consisting of confiscation, a warning, a public apology, and perhaps a fine. Moreover, copying enjoys a long tradition in China that does not carry a stigma. A business introducing a product into China needs to know that its __________ may lead to trademark infringements.

The social forces in the environment include the __________ of the population and its culture.

Medication sensors have been developed that can dispense medicines by circulating within the arteries of the body and sensing when the medication is needed. This is an example of how __________ forces help improve or replace existing products and companies.

A moral philosophy that exists in the Consumer Bill of Rights and is favored by moral philosophers and consumer interest groups is referred to as __________.

The country expected to have the largest population in 2050 is __________.

With a proper environmental scan, changes in the demographic characteristics of the population and its values can have a dramatic impact on __________.

The Child Protection Act (1966) and the Consumer Product Safety Act (1972) are examples of

The moral principles and values that govern the actions and decisions of an individual or group are referred to as

Moral idealism refers to

When Toysmart.com filed for bankruptcy in June 2000, it listed its customer database as one of its assets even though it had assured its customers it would never disclose their information to any third party. Previous Toysmart customers who were part of its database were upset to learn their private information was being treated as property for sale. These customers believed that according to the Consumer Bill of Rights, they should know how their private information would be used. In other words, Toysmart's former customers had a right to

Generation Y is sometimes referred to as

According to a recent Federal Communications Commission report, AT&T, Verizon, Sprint-Nextel, and T-Mobile control 93 percent of the subscribers in the U.S. wireless mobile phone market. Which form of competition characterizes this market?

American Express Company pioneered cause marketing when it sponsored the renovation of

Using smartphones, one can watch the news, shoot videos, browse the Internet, take pictures, and listen to music. Improved features are added with each smartphone introduced by Apple, Samsung, BlackBerry, and the like. As a result, existing customers often want to replace their existing smartphones with new models or brands every two years when their contracts expire. This increase in demand is due mostly to changes in __________, an environmental force.

The first major federal legislation passed to forbid contracts, combinations, or conspiracies in restraint of trade in the United States was the

Western Digital, the Irvine, California-based maker of disk drives, recalled about 400,000 of its hard drives because of a faulty internal chip. The chip will not affect the disk drive motor until after six to twelve months of use. This delay in the problem's appearance means that many consumers would not think to blame the disk drive manufacturer. But, instead of taking the less expensive route of remaining quiet about the problem, Western Digital chose to offer replacement disk drives for all those that had the faulty chip. This action is an example of __________.

Consider the Coke-Pepsi photo above. An employee of Coca-Cola attempted to share its marketing plan with an employee of Pepsi for a modest price. What should the Pepsi employee do?