BUS 312 ch.3 Q&A

Business legislation has been enacted for a number of reasons which include all of the following except​ __________.

A.
developing a code of ethics
B
protecting consumers from unfair business practices
C.
protecting interests of society
D.
protecting companies from each other
E.
to make firms take responsibility for the social costs of their production or products

Correct. Codes of ethics are developed by professional organizations or individual companies.

A.
developing a code of ethics

One important reason that business legislation is enacted is to​ ________.
A.
ensure that companies make profits
B.
protect consumers from unfair business practices
C.
provide legal guidelines for businesses and marketers without actually enforcing them
D.
remove legal regulations from our free market economy
E.
ensure that competition is unregulated
B. protect consumers from unfair business practices

Correct. Without​ regulations, some companies would make shoddy​ products, invade consumer​ privacy, mislead consumers in their​ advertising, and deceive consumers through their packaging and pricing.

As a direct result of the explosion in digital​ technology, one area that advocates and policy makers are taking action on is​ ________.
A.
invasion of privacy
B.
fair pricing
C.
to enforce international trade policies
D.
unsafe products
E.
truth in advertising
A. invasion of privacy

Correct. Digital technologies have made vast amounts of personal data available to marketers. Because use of this data can be​ abused, consumer advocates and policy makers are taking action to protect consumer privacy.
Next Question

In the United​ States, patriotism has increased in recent years. Marketers have responded with increased use of the​ “Made in​ America” appeal and patriotic themes. This reflects which aspect of​ culture?
A.
​People’s views of others
B.
​People’s views of organizations
C.
​People’s views of themselves
D.
​People’s views toward society
E.
​People’s views of nature
​D. People’s views toward society

Correct.​ People’s views toward society relates to their attitude toward their society. An example of this is being patriotic or not.

One result of changes in​ people’s views of nature is​ ________.
A.
a decline in organizational loyalty
B.
the increase in mass mingling through online social media
C.
marketing teas that appeal to making a person feel well both physically and mentally.
D.
a renewed interest in spirituality
E.
the growth of the market for organic products and alternative medicines
E. the growth of the market for organic products and alternative medicines

Correct. The growth of the market for​ natural, organic, and nutritional​ products; fuel-efficient​ cars; and alternative medicines reflects​ people’s recently renewed love of things natural and sustainable.

In the United​ States, patriotism has increased in recent years. Marketers have responded with increased use of the​ “Made in​ America” appeal and patriotic themes. This reflects which aspect of​ culture?

A.
​People’s views of organizations
B.
​People’s views of themselves
C.
​People’s views of others
D.
​People’s views toward society
Your answer is correct.E.
​People’s views of nature

D.
​People’s views toward society

Correct.​ People’s views toward society relates to their attitude toward their society. An example of this is being patriotic or not.

​A(n) __________ stance by companies toward the marketing environment is preferred over a reactive stance.
A.
competitive
B.
controllable
C.
passive
D.
proactive
E.
active
Correct. Proactive firms take aggressive actions to affect the publics and forces in their marketing environment.
Next Question
Many companies view the marketing environment as​ a(n) __________ element to which they must react and adapt.
A.
controllable
B.
economic
C.
uncontrollable

cultural
E.
demographic

C.
uncontrollable

Correct. Many companies view the marketing environment as an uncontrollable element to which they must react and adapt. Because they consider the environment to be uncontrollable they passively accept the marketing environment and do not try to change it. They analyze environmental forces and design strategies that will help the company avoid the threats and take advantage of the opportunities the environment provides.

Being proactive toward the marketing environment means that​ ________.
A.
a company passively accepts the way things are
B.
company develops strategies to change the environment
C.
a company avoids threats
D.
a company watches the environment and reacts to changes
E.
a company watches the environment and follows what competitors do
company develops strategies to change the environment

Correct. Being proactive means a company strategically tries to change its environment.

A firm can be proactive by​ ________.
A.
following existing laws
B.
monitoring social media
C.
pressing lawsuits to keep competitors in line
D.
reacting to changes in the environment as they occur
E.
waiting for other firms to respond to changes in the environment
C.
pressing lawsuits to keep competitors in line

Correct. Pressing lawsuits and filing complaints to keep competitors in line is one way firms can be proactive toward their environment.

A firm is concerned about how to prepare for changes in its marketing environment. What advice would you give the​ firm?
A.
Watch what​ happens, and then respon
B.
Whenever​ possible, take a proactive approach to the environment.
C.
If its current strategy is​ working, there is no need to change it.
D.
​Don’t do anything until you see what your competitors are going to do.
E.
Things always chang There is not much that can be done about that.
B. Whenever​ possible, take a proactive approach to the environment.

Correct. Marketing management cannot always control environmental forces. But whenever​ possible, smart marketing managers take a proactive rather than reactive approach to the marketing environment.

Companies who passively accept the marketing environment​ ________.
A.
develop strategies to change the environment
B.
assume that their strategic options are not bounded by the current environment
C.
view it as uncontrollable and do not attempt to change it
D.
use lobbying to influence legislation
E.
form contractual agreements to control their distribution channels
C.
view it as uncontrollable and do not attempt to change it

Correct. Many companies view the marketing environment as an uncontrollable element to which they must react and adapt. They passively accept the marketing environment and do not try to change it.
OK

Shortages of certain raw materials is a major trend related to the​ __________ environment.
Natural
The​ __________ environment is the most dramatic force shaping the destiny of the markets and marketing.
technological
Which of the following is true of environmental​ sustainability?
Companies are learning that engaging in sustainable practices is good for business.
Which of the following is an important trend in the natural environment that marketers should be aware​ of?
Products that require scarce resources facing large cost increases
One important new technology is​ ________, which can track products from point of production to their usage and disposal.
RFID
The microenvironment consists of all of the following
companies
competitors
suppliers
publics
The most important actors in the​ company’s microenvironment are​
customers
One challenge that marketers face regarding the macroenvironment is that​
changes in this environment are often unforeseeable and uncontrollable
The macroenvironment consists of larger societal​ forces, which include
​economic, political, and cultural forces
The​ “echo boomers” is another name for​ __________.
millenials
The​ __________ environment consists of economic factors that affect consumer purchasing power and spending patterns.
economic
According to the​ text, what is the single most important demographic trend in the United States​ today?
The changing age structure of the population
Which of the following statements is correct regarding the current demographic​ environment?
The U.S. population is rapidly getting older.
Ford offers a wide variety of cars that range from around​ $14,000 to over​ $54,000. This reflects which economic​ factor?
Income distribution
Demography studies statistics include​ ________.
​age, gender,​ race, and occupation