Marketing Ch 16 Practice

___ calls for meeting the present needs of consumers and business while also preserving or enhancing the ability of future generations to meet their needs.
Sustainable marketing
Critics point out that in the drug industry, a pill that costs five cents to make may cost the consumer $2 to buy. This is an example of which of the following?
Excessive mark ups
Marketers argue that most companies avoid deceptive practices because such practices ____.
Harm their business in the long run
Critics often argue that the American marketing system results in higher prices for consumers due to all EXCEPT which of the following
Replacement and repair costs stemming from poor product quality
Which of the following granted the Federal Trade Commission authority to regulate “deceptive acts and practices”?
Wheeler-Lea Act****
Some criticize marketers for introducing new technology that requires the replacement of old products that still work. This is called:
Planned obsolescence
An advertising campaign that promotes the purchase of a luxury car as a means of proving one’s success would be criticized for:
Encouraging material possessions
All of the following are impacts of marketing on other businesses except:
Too few social goods
To restore the balance between private and public goods, producers could be required to bear full ___ costs of operations.
Advertising “puffery” is a term for _____.
Innocent exaggeration for effect
Consumer advocates wish to expand buyers’ rights to include all of the following EXCEPT:
The right to a full refund if the buyer is dissatisfied, no questions asked.
The two major movements to keep business in line are environmentalism and ____.
The question, “Would making out products recyclable add value for our customers?” is likely to come out of what practice of environmental sustainability
Product stewardship
All of the following are sustainable marketing principles EXCEPT
Value marketing
Suppose that a firm’s corporate goal states that 33% of the company’s revenue must come from new or improved products. Such a goal is most consistent with which of the following?
Innovative marketing
LG’s front-loading steam washing machines provide superior cleaning while using less water and energy than existing washing machines. This is an example of which of the following?
Desirable products
_____ products give high immediate satisfaction but may hurt consumers in the long run
Pleasing products
Deficient products are products that
Have neither immediate appeal nor long-run benefits
_____ is a type of economic discrimination in which major chain retailers avoid placing stores in disadvantaged neighborhoods.
Red lining
Mortgage lenders who targeted and exploited customers in poor urban areas by steering them toward subprime loans even though many qualified for safer fixed-rate loans would most likely be accused of _____
Reverse Red lining
_____ is illegal in the United States, but expected in countries such as Russia and China where it is considered to be a standard business practice.
Ethics and social responsibility must be a component of the ________.
Overall corporate culture
Large marketing companies can use patents and heavy promotion spending to _____.
Set up barriers for others wanting to enter the industry.
The American Marketing Association (AMA) has created a code of ethics that includes all of the following ethical values EXCEPT which one?