Question 1

Marketing activities undertaken to meet the wants/needs of present customers without comprising the wants/needs of future customers, particularly in relation to negative environmental impacts on society is called:

Accepted Answer

Sustainable marketing focuses on meeting the needs of the current generation without compromising the ability of future generations to meet their needs, often with a particular emphasis on reducing negative environmental impacts.

Question 2

This involves the setting of different prices for different groups of people:_____________

Accepted Answer

Price discrimination involves setting different prices for different groups of people based on factors like age, location, or purchase volume, allowing businesses to maximize profits by charging each group the maximum they are willing to pay.

Question 3

The following occurs when companies operate a demand pricing formula where demand is very high, leading to high prices to customers.

Accepted Answer

Price gouging occurs when sellers increase the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair, often in response to a sudden increase in demand. This is common during emergencies, shortages, or within markets where the seller has a monopoly or significant market power.

Question 4

_____________ stresses the importance of developing virtuous principles, with 'right' character, and the pursuit of a virtuous life.

Accepted Answer

Virtue ethics focuses on the importance of character and the virtues that constitute a good person, rather than on the rules (deontological ethics) or consequences (utilitarianism) of actions. It emphasizes living one's life according to virtuous principles.

Question 5

_____ advertising appeals can create controversy. Charities often use this type of appeal to raise funds for sick children in Africa.

Accepted Answer

Shock advertising can create controversy due to its nature of presenting graphic or provocative images to grab the audience's attention. Charities use shock appeals to evoke strong emotional reactions, hoping to spur people into action or donations, especially in campaigns highlighting the plight of sick children in Africa.

Question 6

Marketing ethics can be divided into normative and _____________ branches.

Accepted Answer

Marketing ethics can be divided into normative and descriptive branches. Normative ethics focus on how things should be or what people ought to do, often involving judgments or prescriptions. Descriptive ethics, on the other hand, deals with describing, characterizing, and studying the moral behavior of people or the ethical standards of a society. It aims to understand how people actually behave and what ethical principles they claim to follow, without making judgments about whether those behaviors or principles are right or wrong.

Question 7

This branch of ethics stresses the importance of developing virtuous principles, with 'right' character, and the pursuit of a virtuous life:_____

Accepted Answer

Virtue ethics focuses on the inherent character of a person rather than on the specific actions they perform. It emphasizes the importance of developing moral virtues and character traits that will guide one's behavior towards leading a virtuous life.

Question 8

In many countries, which type of advertising is exempt from the rules and regulations associated with traditional advertising?

Accepted Answer

Political advertising is often exempt from the rules and regulations that govern traditional advertising in many countries. This is because political speech is highly protected in many jurisdictions, allowing for a broader range of messaging and tactics that might not be permissible in commercial advertising.

Question 9

A good example of a highly successful and long-running campaign that used ________in a humorous way in some of its executions was the 'Got Milk?' campaign run for the California Milk Processor Board by Goodby Silvstein and Partners between 1995 and 2014.

Accepted Answer

The answer of A good example of a highly successful...

Question 10

The idea that corporations have responsibilities that go beyond the production of goods and services at a profit is an example of one of the core tenants of which type of initiative?

Accepted Answer

The idea that corporations have responsibilities beyond profit-making, including social and environmental concerns, is a core tenet of Corporate Social Responsibility (CSR) initiatives.

Question 11

Understanding marketing ethics is not really that important to business students, but is more important to law students.

Accepted Answer

Marketing ethics is crucial for business students as it guides them in making responsible decisions that respect consumers and society, ensuring long-term success and trust in the business world.

Question 12

Supporters of sustainable marketing accept the limitations of marketing philosophy and acknowledge the need to impose regulatory constraints on marketing, particularly concerning its impact on the environment.

Accepted Answer

Sustainable marketing advocates recognize that traditional marketing practices can sometimes be unsustainable and harmful to the environment. They support the idea that there should be regulatory measures to ensure marketing activities do not negatively impact the environment, promoting a balance between economic interests and environmental protection.

Question 13

The model of marketing decision-making is the best known, stressing the importance of considering what is the right thing to do (deontological norms) and what are the right intended outcomes for us to follow (teleological norms).

Accepted Answer

The model of marketing decision-making indeed emphasizes the importance of considering deontological norms (focused on the inherent rightness or wrongness of actions) and teleological norms (focused on the consequences or outcomes of actions) to determine the most ethical course of action.

Question 14

Corporations serve a wider range of human values, not captured solely by a focus on economic values.

Accepted Answer

Corporations, beyond generating profit, can influence and contribute to social, environmental, and ethical values, reflecting a broader spectrum of human concerns and interests.

Question 15

Norms are rules and regulations about how we should not behave.

Accepted Answer

Norms are guidelines or expectations for behavior; they include ways we should behave as well as ways we should not behave.

Question 16

Managerial egoism is a form of ethical approach associated with Aristotle, which stresses the importance of developing virtuous principles, developing 'right' character, and the pursuit of a virtuous life.

Accepted Answer

Managerial egoism is not associated with Aristotle but rather with the concept of self-interest guiding managerial decisions. Aristotle's ethical approach is known as virtue ethics, which emphasizes developing virtuous character traits and leading a virtuous life for the well-being of oneself and society.

Question 17

If we adopt the managerial egoist principle, then we would conclude that companies should set their marketing programmes so as to maximize shareholder or stakeholder value.

Accepted Answer

The managerial egoist principle suggests that managers should act in ways that maximize their own interests, which often aligns with maximizing shareholder or stakeholder value as it can lead to personal benefits such as bonuses or career advancement.

Question 18

Virtue ethics suggests that an action is right if, and only if, its performance will be more productive of pleasure or happiness or welfare, or more preventive of pain or unhappiness, than any alternative.

Accepted Answer

Virtue ethics focuses on the character of the person performing an action rather than the consequences of the action itself, unlike utilitarianism which evaluates actions based on their outcomes in terms of pleasure, happiness, or welfare.

Question 19

Generally, utilitarianism is concerned with 'producing the greater good for the greatest number of people'.

Accepted Answer

Utilitarianism is an ethical theory that advocates for actions that maximize happiness and well-being for the majority of a population.

Question 20

Managerial egoistic approaches propose that we have not only a moral duty to ensure customer satisfaction via the finished offering, but also a duty to ensure integrity in how the offering is produced and marketed.

Accepted Answer

Managerial egoistic approaches focus on actions that are primarily in the self-interest of the manager or the company, rather than on moral duties to ensure customer satisfaction or integrity in production and marketing processes.

Quiz 18: Marketing, Society, Sustainability and Ethics