Marketing Ch 16 Practice – Flashcards
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___ calls for meeting the present needs of consumers and business while also preserving or enhancing the ability of future generations to meet their needs.
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Sustainable marketing
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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?
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Excessive mark ups
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Marketers argue that most companies avoid deceptive practices because such practices ____.
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Harm their business in the long run
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Critics often argue that the American marketing system results in higher prices for consumers due to all EXCEPT which of the following
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Replacement and repair costs stemming from poor product quality
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Which of the following granted the Federal Trade Commission authority to regulate "deceptive acts and practices"?
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Wheeler-Lea Act****
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Some criticize marketers for introducing new technology that requires the replacement of old products that still work. This is called:
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Planned obsolescence
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An advertising campaign that promotes the purchase of a luxury car as a means of proving one's success would be criticized for:
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Encouraging material possessions
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All of the following are impacts of marketing on other businesses except:
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Too few social goods
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To restore the balance between private and public goods, producers could be required to bear full ___ costs of operations.
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Social
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Advertising "puffery" is a term for _____.
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Innocent exaggeration for effect
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Consumer advocates wish to expand buyers' rights to include all of the following EXCEPT:
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The right to a full refund if the buyer is dissatisfied, no questions asked.
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The two major movements to keep business in line are environmentalism and ____.
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Consumerism
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The question, "Would making out products recyclable add value for our customers?" is likely to come out of what practice of environmental sustainability
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Product stewardship
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All of the following are sustainable marketing principles EXCEPT
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Value marketing
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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?
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Innovative marketing
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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?
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Desirable products
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_____ products give high immediate satisfaction but may hurt consumers in the long run
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Pleasing products
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Deficient products are products that
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Have neither immediate appeal nor long-run benefits
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_____ is a type of economic discrimination in which major chain retailers avoid placing stores in disadvantaged neighborhoods.
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Red lining
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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 _____
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Reverse Red lining
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_____ 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.
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Bribery
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Ethics and social responsibility must be a component of the ________.
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Overall corporate culture
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Large marketing companies can use patents and heavy promotion spending to _____.
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Set up barriers for others wanting to enter the industry.
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The American Marketing Association (AMA) has created a code of ethics that includes all of the following ethical values EXCEPT which one?
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Competitiveness
