Question 1

Which of the following is one of the "Four Ps" of marketing?

Accepted Answer

The four general categories-product, price, promotion, placement-are sometimes referred to as the "Four Ps" of marketing.

Question 2

Which of the following is a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

Accepted Answer

The American Marketing Association defines marketing in a way that also suggests that it is at the heart of business activity, "an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders."

Question 3

Externalities show that even if both parties to the exchange receive actual benefits from the exchange, other parties external to the exchange might be adversely affected.

Accepted Answer

Externalities show that even if both parties to the exchange receive actual benefits from the exchange, other parties external to the exchange might be adversely affected.

Question 4

The _____ ethical tradition would see a simple situation of an agreement for an exchange between two parties as upholding respect for individuals by treating them as autonomous agents capable of pursuing their own ends.

Accepted Answer

The rights-based ethical tradition would see a simple situation of an agreement for an exchange between two parties as upholding respect for individuals by treating them as autonomous agents capable of pursuing their own ends.

Question 5

The simple situation in which two parties come together and freely agree to an exchange is ethically legitimate only prima facie because:

Accepted Answer

The simple situation in which two parties come together and freely agree to an exchange is prima facie ethically legitimate. This assessment is only prima facie because, like all agreements, certain conditions must be met before we can conclude that autonomy has in fact been respected and mutual benefit has been achieved.

Question 6

The implied warranty of merchantability holds that in selling a product, a business implicitly offers assurances that the product is reasonably suitable for its purpose.

Accepted Answer

The implied warranty of merchantability holds that in selling a product, a business implicitly offers assurances that the product is reasonably suitable for its purpose.

Question 7

Consumer vulnerability occurs when a person has an impaired ability to make an informed consent to the market exchange.

Accepted Answer

Consumer vulnerability occurs when a person has an impaired ability to make an informed consent to the market exchange.

Question 8

A condition for respect requires that consent be not only voluntary, but also informed.

Accepted Answer

A condition for respect requires that consent be not only voluntary, but also informed.

Question 9

On the sole basis that someone wants to buy something and someone else is willing to sell it, a transaction is ethically legitimate.

Accepted Answer

Just because someone wants to buy something and someone else is willing to sell it does not mean that the transaction is ethically legitimate.

Question 10

In a strict liability case, if it can be proved that a business was as careful as possible about its product or service, it is not held liable for the harm that results from its use.

Accepted Answer

In a strict liability case, no matter how careful the business is in its product or service, if harm results from use, the business is liable.

Question 11

The _____ ethical tradition would take the two parties' agreement as evidence that both are better off than they were prior to the exchange and thus conclude that overall happiness has been increased by any exchange freely entered into.

Accepted Answer

The utilitarian ethical tradition would take the two parties' agreement as evidence that both are better off than they were prior to the exchange and thus conclude that overall happiness has been increased by any exchange freely entered into.

Question 12

Most courts allow a business to completely disclaim the implied warranty of merchantability.

Accepted Answer

Most courts will not allow a business to completely disclaim the implied warranty of merchantability.

Question 13

The utilitarian tradition in ethics would have the strongest objections to manipulation.

Accepted Answer

The principle-based tradition in ethics would have the strongest objections to manipulation.

Question 14

When consumers are injured by a product in which no negligence is involved and no one is at fault, the legal doctrine of strict product liability holds manufacturers accountable.

Accepted Answer

There are cases in which consumers can be injured by a product in which no negligence was involved. The legal doctrine of strict product liability holds manufacturers accountable in such cases.

Question 15

The 'Four Ps' of marketing include product, price, promotion, and placement.

Accepted Answer

Four general categories-product, price, promotion, placement-are sometimes referred to as the "Four Ps" of marketing.

Question 16

Under a contract model, the duties that a person owes are not merely those explicitly promised to another party, but also those that are implied.

Accepted Answer

Under a contract model, the only duties that a person owes are those that have been explicitly promised to another party.

Question 17

Unsafe products do not further the utilitarian goal of maximizing overall happiness.

Accepted Answer

Unsafe products do not further the utilitarian goal of maximizing overall happiness.

Question 18

The condition where lesser consumption leads to unhappiness is termed "affluenza".

Accepted Answer

Empirical studies provide evidence that suggests that greater consumption can lead to unhappiness, a condition called "affluenza."

Question 19

Negligence involves the ability to foresee the consequences of our acts.

Accepted Answer

Negligence involves the ability to foresee the consequences of our acts and failing to take steps to avoid the likely harmful consequences.

Question 20

While approaching an ethical issue in marketing, the utilitarian tradition would ask to what degree the participants are respected as free and autonomous agents rather than treated simply as means to the end of making a sale.

Accepted Answer

While approaching an ethical issue in marketing, the rights-based ethical tradition would ask to what degree the participants are respected as free and autonomous agents rather than treated simply as means to the end of making a sale.

Quiz 8: Ethics and Marketing

Which of the following is one of the "Four Ps" of marketing?

Which of the following is a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders?

Externalities show that even if both parties to the exchange receive actual benefits from the exchange, other parties external to the exchange might be adversely affected.

The _____ ethical tradition would see a simple situation of an agreement for an exchange between two parties as upholding respect for individuals by treating them as autonomous agents capable of pursuing their own ends.

The simple situation in which two parties come together and freely agree to an exchange is ethically legitimate only prima facie because:

The implied warranty of merchantability holds that in selling a product, a business implicitly offers assurances that the product is reasonably suitable for its purpose.

Consumer vulnerability occurs when a person has an impaired ability to make an informed consent to the market exchange.

A condition for respect requires that consent be not only voluntary, but also informed.

On the sole basis that someone wants to buy something and someone else is willing to sell it, a transaction is ethically legitimate.

In a strict liability case, if it can be proved that a business was as careful as possible about its product or service, it is not held liable for the harm that results from its use.

The _____ ethical tradition would take the two parties' agreement as evidence that both are better off than they were prior to the exchange and thus conclude that overall happiness has been increased by any exchange freely entered into.

Most courts allow a business to completely disclaim the implied warranty of merchantability.

The utilitarian tradition in ethics would have the strongest objections to manipulation.

When consumers are injured by a product in which no negligence is involved and no one is at fault, the legal doctrine of strict product liability holds manufacturers accountable.

The 'Four Ps' of marketing include product, price, promotion, and placement.

Under a contract model, the duties that a person owes are not merely those explicitly promised to another party, but also those that are implied.

Unsafe products do not further the utilitarian goal of maximizing overall happiness.

The condition where lesser consumption leads to unhappiness is termed "affluenza".

Negligence involves the ability to foresee the consequences of our acts.

While approaching an ethical issue in marketing, the utilitarian tradition would ask to what degree the participants are respected as free and autonomous agents rather than treated simply as means to the end of making a sale.