Question 1

The basic objective of the U.S.market-directed economic system is to:
A) minimize inflation.
B) satisfy consumer needs as they-the consumers-see them.
C) provide each person with an equal share of the economic output.
D) achieve an annual growth rate of at least 10 percent.
E) make the most efficient use of the country's resources.

Accepted Answer

In the United States, the basic objective of our market-directed economic system has been to satisfy consumer needs as they, the consumers, see them.

Question 2

The legal environment sets the minimum standards of ethical behavior in a society.

Accepted Answer

Whether a marketer is operating in his or her own country or in a foreign nation, the legal environment sets the minimal standards of ethical behavior as defined by a society.

Question 3

What is the basic objective of the U.S.market-directed economic system?
A) Providing everyday low prices.
B) Immediate delivery of products.
C) Offering easy financing.
D) Consumer satisfaction.
E) Making advertising memorable.

Accepted Answer

In the United States, the basic objective of our market-directed economic system has been to satisfy consumer needs as they, the consumers, see them.

Question 4

When evaluating the effectiveness of the macro-marketing systems of different countries:
A) the evaluation should be limited to basic economic objectives, which are common across countries.
B) the best approach is to see if firms are making a profit.
C) it doesn't make sense to compare the effectiveness of systems for different nations that have different objectives.
D) the evaluation should be based on how well each system satisfies consumers' needs as they-the consumers-see them.
E) None of these alternatives is correct.

Accepted Answer

Different nations have different social and economic objectives. Nation's objectives affect evaluation.

Question 5

The cost of environmental damage is now a measured cost of most firms that is passed along to consumers.

Accepted Answer

In the past, most firms didn't pass the cost of environmental damage on to consumers in the prices that they paid. Pollution was a hidden and unmeasured cost for most companies. That is changing rapidly.

Question 6

Consumers have a responsibility to preserve an effective macro-marketing system.

Accepted Answer

Consumer-citizens share the responsibility for preserving an effective macro-marketing system.

Question 7

Consumers-as well as business firms-should behave in a more socially responsible manner to improve the performance of our macro-marketing system.

Accepted Answer

Consumers as well as business firms share the responsibility for preserving an effective macro-marketing system.

Question 8

According to a survey of workers,almost half of them have admitted to taking some type of unethical or illegal action in the recent past.

Accepted Answer

In a major survey of workers, managers, and executives from a wide range of industries, 48 percent admitted to taking unethical or illegal actions in the past year.

Question 9

Given the U.S.economy's basic objective,the best measure of the effectiveness of the U.S.macro-marketing system is:
A) GDP growth.
B) the equality of income distribution.
C) how efficiently resources are used.
D) how many new products are introduced.
E) the level of consumer satisfaction.

Accepted Answer

Since consumer satisfaction is the basic objective, marketing's effectiveness must be measured by how well it satisfies consumers.

Question 10

In measuring consumer satisfaction,marketing managers should remember that:
A) customer satisfaction is a highly personal concept.
B) consumer expectations and aspirations tend to remain the same over time.
C) looking at the average level of satisfaction for a whole society provides a precise description of macro-marketing effectiveness.
D) evaluations of macro-marketing effectiveness are purely objective in that they are based on tabulated survey results.
E) All of these alternatives are correct.

Accepted Answer

Consumer satisfaction is a highly personal concept.

Question 11

Given the nature of marketing-and the kinds of criticism it typically gets-marketing should be evaluated:
A) at both the micro and the macro level.
B) mainly at the macro level.
C) mainly at the micro level.
D) None of these alternatives is correct.

Accepted Answer

Marketing should be evaluated at both the micro and the macro level separately.

Question 12

A market-directed economic system implies that:
A) society lacks both political and economic freedom.
B) people have political freedom but economic objectives are determined by the government.
C) political freedom and economic freedom go hand in hand.
D) the needs of consumers are not part of marketing objectives.
E) very little importance is attached to customer satisfaction.

Accepted Answer

In the United States, the basic objective of the market-directed economic system has been to satisfy consumer needs as they, the consumers, see them. This objective implies that political freedom and economic freedom go hand in hand and that citizens in a free society have the right to live as they choose.

Question 13

One of the disadvantages of a market-directed economic system is that it does not operate automatically and requires careful government oversight.

Accepted Answer

One of the advantages of a market-directed economic system is that it operates automatically. But, in the United States, consumer-citizens provide certain constraints (laws) which can be modified at any time.

Question 14

Marketers need to work harder and smarter at finding ways to satisfy consumer
needs without sacrificing the environment.

Accepted Answer

Marketers need to work harder and smarter at finding ways to satisfy consumer needs without sacrificing the environment. All consumers need the environment, whether they realize it yet or not.

Question 15

The legal environment sets the maximum standards of ethical behavior in a society.

Accepted Answer

Whether a marketer is operating in his or her own country or in a foreign nation, the legal environment sets the minimal standards of ethical behavior as defined by a society.

Question 16

Given the American economy's basic objective of meeting consumers' needs as THEY-the consumers-see them,it is sensible to evaluate our MACRO-marketing system in terms of:
A) the level of consumer satisfaction.
B) how efficiently our resources are used.
C) the value of the inputs to the system.
D) our standard of living-as measured by GNI.
E) total business profits.

Accepted Answer

Since consumer satisfaction is the basic objective, marketing's effectiveness must be measured by how well it satisfies consumers.

Question 17

Measuring macro consumer satisfaction:
A) is easy-just add up all the marketing mixes.
B) is difficult because consumer satisfaction depends on the level of consumer aspiration.
C) must be done quantitatively.
D) uses MIS techniques.
E) None of these alternatives is correct.

Accepted Answer

There are limits to interpreting any measure of consumer satisfaction when evaluating macro-marketing effectiveness as satisfaction depends on and is relative to the level of aspiration or expectation.

Question 18

Technology is making it harder to abuse consumers' rights to privacy.

Accepted Answer

Today, sophisticated marketing research methods, the Internet, and other technologies make it easier to abuse consumers' rights.

Question 19

A measure of overall consumer satisfaction in the United States,created by researchers at the University Michigan,and called the ________ is based on the results of regular interviews with thousands of customers.
A) Index of Consumer Confidence
B) United States Customer Satisfaction Index
C) American Customer Satisfaction Index
D) Survey of Consumer Sentiment
E) Gallup Poll

Accepted Answer

A team of researchers at the University of Michigan has created the American Customer Satisfaction Index based on regular interviews with tens of thousands of customers of about 230 companies in 43 industries, to measure the overall consumer satisfaction.

Question 20

In the United States,the basic objective of the market-directed economic system has been to:
A) ensure the survival of business firms.
B) find a reasonable balance between consumer satisfaction and business profits.
C) reduce the cost of marketing activities.
D) satisfy consumer needs as the consumers themselves see them.
E) satisfy consumer needs as seen by marketing managers.

Accepted Answer

In the United States, the basic objective of our market-directed economic system has been to satisfy consumer needs as they, the consumers, see them.

Quiz 21: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

The basic objective of the U.S.market-directed economic system is to:

The legal environment sets the minimum standards of ethical behavior in a society.

What is the basic objective of the U.S.market-directed economic system?

When evaluating the effectiveness of the macro-marketing systems of different countries:

The cost of environmental damage is now a measured cost of most firms that is passed along to consumers.

Consumers have a responsibility to preserve an effective macro-marketing system.

Consumers-as well as business firms-should behave in a more socially responsible manner to improve the performance of our macro-marketing system.

According to a survey of workers,almost half of them have admitted to taking some type of unethical or illegal action in the recent past.

Given the U.S.economy's basic objective,the best measure of the effectiveness of the U.S.macro-marketing system is:

In measuring consumer satisfaction,marketing managers should remember that:

Given the nature of marketing-and the kinds of criticism it typically gets-marketing should be evaluated:

A market-directed economic system implies that:

One of the disadvantages of a market-directed economic system is that it does not operate automatically and requires careful government oversight.

Marketers need to work harder and smarter at finding ways to satisfy consumer needs without sacrificing the environment.

The legal environment sets the maximum standards of ethical behavior in a society.

Given the American economy's basic objective of meeting consumers' needs as THEY-the consumers-see them,it is sensible to evaluate our MACRO-marketing system in terms of:

Measuring macro consumer satisfaction:

Technology is making it harder to abuse consumers' rights to privacy.

A measure of overall consumer satisfaction in the United States,created by researchers at the University Michigan,and called the ________ is based on the results of regular interviews with thousands of customers.

In the United States,the basic objective of the market-directed economic system has been to: