Question 1

The ________ specifically focuses on future company needs rather than both future company and future customer needs.

Accepted Answer

Strategic planning concept specifically focuses on future company needs and goals, whereas the other concepts prioritize customer needs and satisfaction.

Question 2

A long-standing charge against intermediaries is that they mark up prices beyond the ________.

Accepted Answer

Intermediaries are often criticized for marking up prices beyond the value of their services, implying that the additional cost does not correspond to the actual value they add.

Question 3

Critics claim that companies in the ________ industries introduce planned streams of new products that make older models obsolete, a form of planned obsolescence that harms consumers.

Accepted Answer

Consumer electronics and computer industries are notorious for introducing new models frequently, making older ones obsolete. This is often seen as a form of planned obsolescence, which can lead to consumers feeling pressured to constantly upgrade, even if their current products are still functioning well.

Question 4

Deceptive marketing practices fall into three groups: deceptive ________, deceptive ________, and deceptive ________.

Accepted Answer

The answer of Deceptive marketing practices fall into three groups:...

Question 5

Perceived obsolescence might involve which of the following?

Accepted Answer

The answer of Perceived obsolescence might involve which of the...

Question 6

The marketing concept recognizes that organizations thrive from day to day by determining ________ of target group customers and fulfilling those more effectively and efficiently than competitors do.

Accepted Answer

The marketing concept is centered around identifying the needs and wants of target group customers and fulfilling them more effectively and efficiently than competitors. This involves focusing on customer satisfaction and building long-term relationships with customers. Option A (demands) is incorrect because customers' demands are part of their needs and wants. Options C (innovations), D (personal benefits), and E (social benefits) are not direct components of the marketing concept.

Question 7

Critics have charged that some companies intentionally manufacture their products with materials or components that cause the product to need to be replaced before it actually should need replacement. What is this called?

Accepted Answer

This practice is called planned obsolescence, where companies intentionally design products to have a limited lifespan or become outdated quickly, in order to encourage consumers to buy newer versions or replacements.

Question 8

Critics charge that high advertising and promotion costs unnecessarily increase retail prices. Marketers would most likely respond to this criticism by arguing that advertising adds ________.

Accepted Answer

Marketers would argue that advertising provides value by informing customers about the product's availability and merits. This can help the customer make an informed choice and potentially increase sales, which can offset the cost of advertising. Psychological value, quality, and functional value are also important, but they may not directly address the criticism of increased prices due to promotion costs. Economic value can be a factor, but it depends on the specific situation and product being marketed.

Question 9

A major step in regulating "unfair or deceptive acts or practices" was the development of the ________.

Accepted Answer

The Competition Bureau is a Canadian federal agency responsible for enforcing laws related to competition and deceptive marketing practices, thus playing a major role in regulating "unfair or deceptive acts or practices."

Question 10

Critics of the marketing system are most likely to charge that intermediaries ________.

Accepted Answer

Critics of the marketing system may argue that intermediaries are inefficient in their services, such as adding unnecessary markups or delaying delivery times, which can ultimately harm consumers and producers alike.

Question 11

Advertising "puffery" is a term for ________.

Accepted Answer

Advertising puffery refers to innocent exaggeration for effect in advertising. It is usually a subjective claim that is not meant to be taken literally, but rather to create an emotional or favorable impression on the consumer.

Question 12

In which of the following scenarios would high-pressure selling tactics typically be most advantageous for marketers?

Accepted Answer

High-pressure selling tactics are typically used in one-time selling situations where the focus is on closing the sale quickly, rather than fostering long-term relationships with customers.

Question 13

________ persuades people to buy goods they had no thought of buying.

Accepted Answer

High-pressure selling is a tactic used by salespeople to persuade people to buy goods they had no thought of buying. It involves using aggressive and persistent techniques to push the customer into making a purchase. This can be seen in techniques such as creating a sense of urgency, playing on the customer's emotions, and not taking no for an answer. It can often lead to buyer's remorse and negative customer experiences.

Question 14

Many critics charge that the North American marketing system causes ________ to be higher than they would be under more "sensible" systems.

Accepted Answer

The statement suggests that the North American marketing system results in higher prices than they should be under more "sensible" systems. Therefore, the best choice is C, prices.

Question 15

Critics point out that in the drug industry, where a pill costing five cents to make may cost the consumer $2 to buy. This is an example of which of the following?

Accepted Answer

The situation described is an example of excessive markups, where the price charged to the consumer is significantly higher than the cost of producing the product.

Question 16

Critics of the North American economic marketing system have charged that marketers have created a culture in which people are judged by what they ________.

Accepted Answer

The critics of the North American economic marketing system have argued that marketers have created a culture in which people are judged by what they own, leading to the culture of materialism in the society.

Question 17

________ calls for meeting the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

Accepted Answer

Sustainable marketing focuses on meeting the needs of present consumers and businesses while also considering the impact on future generations. It involves making environmentally and socially responsible decisions in marketing strategies and practices.

Question 18

Marketers respond to charges of planned obsolescence with the following.

Accepted Answer

Marketers often argue that consumers desire the latest innovations and upgrades in technical products, even if their older models still work. This is seen as a key driver of planned obsolescence, as companies seek to continuously introduce new products to meet this demand.

Question 19

Deceptive promotion differs from deceptive pricing in that deceptive promotion overstates the product's ________ or ________.

Accepted Answer

Deceptive promotion overstates the product's features or performance, while deceptive pricing involves misrepresenting the price of the product. The other options, such as packaging, design, and availability, are not typically associated with deceptive promotion.

Question 20

Companies that "greenwash" ________.

Accepted Answer

Companies that "greenwash" claim to be environmentally friendly, but do not actually take actions to back up their claims. Therefore, they are not actually environmentally friendly.

Quiz 3: Sustainable Marketing, Social Responsibility and Ethics