Question 1

As a firm fulfills its basic economic responsibilities,it must simultaneously

Accepted Answer

A firm must obey laws and regulations while fulfilling its basic economic responsibilities. While treating employees equitably, following a code of business ethics, utilizing green marketing techniques, and having a philanthropic focus are all important aspects of business, they are not necessarily simultaneous with fulfilling basic economic responsibilities.

Question 2

Which of the following is the best definition of cause-related marketing?

Accepted Answer

Cause-related marketing involves linking a firm's products to a particular social cause in order to achieve both business and social benefits. This can be done either in the short term or long term. Option B refers to corporate social responsibility, while option C refers to cause-related donation programs. Options D and E refer to environmental sustainability and community involvement, respectively, but do not fully encompass the concept of cause-related marketing.

Question 3

At the top of the pyramid of social responsibility for business are ____ responsibilities.

Accepted Answer

Philanthropic responsibilities are the highest level of social responsibility, which involve contributing to the betterment of society through charitable and voluntary activities. It includes activities such as donating to charities, sponsoring community events, and supporting social causes, which are not required by law, but are viewed as desirable and necessary by stakeholders. Ethical responsibilities come second, followed by legal responsibilities, economic responsibilities, and then cost responsibilities at the bottom of the pyramid.

Question 4

Marketing ethics

Accepted Answer

Marketing ethics refers to principles and standards that define acceptable conduct in marketing. It encompasses moral and social values such as honesty, responsibility, fairness, and respect. It guides marketers to make ethical decisions in their marketing practices, such as being truthful in advertising, respecting consumer privacy, and avoiding deceptive marketing tactics.

Question 5

McDonald's supports and funds Ronald McDonald houses for the families of terminally-ill children to stay in to be near their loved ones.McDonald's action demonstrates the fulfillment of ____ responsibility.

Accepted Answer

McDonald's funding and support of Ronald McDonald houses goes beyond its legal and economic responsibilities as a business, and instead fulfills a philanthropic responsibility to support the community and those in need.

Question 6

Kaitlyn understands that her local catering business has certain responsibilities to society.She knows that she must abide by the laws that apply to her business and try to make a profit.What are the other obligations Kaitlyn should know?

Accepted Answer

Kaitlyn should be aware of her ethical obligations, which involve conducting her business in a morally sound manner, and philanthropic obligations, which involve contributing positively to society beyond just making a profit.

Question 7

Which of the following is not one of the four dimensions of social responsibility presented in your text?

Accepted Answer

The four dimensions of social responsibility presented in the text are economic, legal, ethical, and philanthropic. Consumerism is not one of these dimensions.

Question 8

If Ben and Jerry's were to donate 5 percent of every ice cream purchase to shelters for victims of domestic abuse for one month,this would be an example of

Accepted Answer

This is an example of cause-related marketing, where the brand is partnering with a social cause to promote their product and give back to the community.

Question 9

According to the text,marketing ethics refers to principles and standards that define

Accepted Answer

The text specifically states that marketing ethics refers to principles and standards that define acceptable conduct in marketing.

Question 10

Cameron Inc.is a very profitable automobile repair shop.The company is well known for its great service and involvement in the community,but it fails to properly dispose of its used oil as outlined in environmental regulations.Cameron is failing in its ____ responsibilities.

Accepted Answer

The company's failure to properly dispose of its used oil goes against environmental regulations, which makes it a legal issue.

Question 11

Which of the following is a primary difference between cause-related marketing and strategic philanthropy?

Accepted Answer

The answer of Which of the following is a primary...

Question 12

All companies have a responsibility to ____ so they can provide a return on investment to their owners and investors,create jobs for the community,and contribute goods and services to the economy.

Accepted Answer

Being profitable is crucial for any company as it ensures that the company can sustain itself, create jobs, and contribute to the economy. Offering the lowest price or providing the largest selection possible may not necessarily lead to profitability, while obeying customers and paying employees more than minimum wage are important aspects of responsible business practices, but are not the sole responsibility of a company.

Question 13

Sometimes business must find a balance between society's demand for social responsibility and investors' desires for profits.This is an example of a(n)____ responsibility.

Accepted Answer

The answer of Sometimes business must find a balance between...

Question 14

A business that contributes resources to the community to improve the quality of life is taking on a(n)____ responsibility.

Accepted Answer

Philanthropic responsibility refers to a business's voluntary actions to contribute resources to improve the well-being of the community, without any legal or ethical obligation to do so. This includes charitable donations, volunteer work, and community involvement initiatives.

Question 15

Which of the following is not a dimension of social responsibility and marketing citizenship?

Accepted Answer

The four dimensions of social responsibility and marketing citizenship are economic, ethical, legal, and philanthropic. Technological dimension is not considered a dimension of social responsibility and marketing citizenship.

Question 16

Actions that promote human health and welfare address the ____ dimension of the pyramid of social responsibility.

Accepted Answer

The answer of Actions that promote human health and welfare...

Question 17

The close relationship of Home Depot's philanthropic initiatives and its business goals is an example of

Accepted Answer

Strategic philanthropy refers to a form of corporate philanthropy that aligns with the business goals of a company. Home Depot's philanthropic initiatives, such as donating products and funds to disaster relief efforts, improving communities where it operates stores, and supporting U.S. veterans and their families, are also connected to its core business values and objectives. By doing so, Home Depot can enhance its brand reputation, customer loyalty, employee engagement, and social impact, while driving business growth and profitability.

Question 18

The practice of linking a firm's product marketing to a particular social cause on an ongoing or short-term basis is known as

Accepted Answer

Cause-related marketing is the practice of linking a firm's product marketing to a particular social cause on an ongoing or short-term basis. It is a popular marketing strategy used by companies to increase sales and build brand loyalty, while also supporting a good cause.

Question 19

The most basic principles of marketing ethics are

Accepted Answer

The answer of The most basic principles of marketing ethics...

Question 20

Who are the primary recipients of the benefits of strategic philanthropy?

Accepted Answer

Strategic philanthropy benefits both companies and society by aligning charitable activities with business goals, creating shared value.

Quiz 21: Global Issues,social Responsibility and Marketing