Question 1

Lance found a wallet containing over $500 cash. He knew he should try to return the wallet to its owner and that he could take the cash and the owner wouldn't know if he took it or if someone else did before Lance found the wallet. Lance won't do that, though, because he believes that would be wrong. Lance's personal standards and beliefs that guided his behavior are called _____.

Accepted Answer

Lance's personal standards and beliefs that guide his behavior are his morals. Ethics refer to a set of moral principles or values that are widely accepted by a group or society. Norms are the unwritten rules or expectations for behavior in a particular social group or situation. The id and superego are concepts in Freudian psychology referring to different aspects of the human psyche.

Question 2

_____ is used to describe the activities of various groups to protect basic consumer rights.

Accepted Answer

Consumerism is the movement or ideology that advocates for the rights and welfare of consumers. This includes activities such as lobbying for stronger consumer protection laws, raising awareness of consumer rights, and holding companies accountable for unethical business practices. Consumer protectionism is a similar term, but it generally refers more specifically to policies and actions aimed at protecting consumers from harm, such as fraud or dangerous products. Ethics, collectivism, and communism are not directly related to consumer rights or protection.

Question 3

_____ are personal standards and beliefs that are used to guide individual action.

Accepted Answer

Morals are personal beliefs and standards that guide individual action. Norms refer to socially accepted standards of behavior, while statutes are laws enacted by a governing body. Altruistic beliefs and prescriptives are not commonly used terms in this context.

Question 4

Which president signed the Consumer Bill of Rights?

Accepted Answer

President Kennedy signed the Consumer Bill of Rights on March 15, 1962. The bill outlined four main consumer rights: the right to safety, the right to be informed, the right to choose, and the right to be heard. These rights have since been expanded to include additional protections for consumers.

Question 5

The Consumer Bill of Rights includes all of the following EXCEPT _____.

Accepted Answer

The Consumer Bill of Rights includes the right to safety, redress and to be heard, choice, and to be informed. However, it does not include the right to the lowest prices.

Question 6

Stephanie has an eating disorder in which she will eat an entire pint of ice cream or bag of cookies and then makes herself throw up afterwards. What is Stephanie's disorder called?

Accepted Answer

Stephanie's disorder is called bulimia, which is characterized by binge eating followed by purging behaviors such as self-induced vomiting or the use of laxatives.

Question 7

Products that deliver high utilitarian and hedonic value and that benefit both consumers and society in the long run are called _____.

Accepted Answer

Desirable products are those that provide both high utilitarian (functional) and hedonic (pleasure-related) value, benefiting consumers and society in the long run.

Question 8

Procter & Gamble, the makers of Tide laundry detergent, sets up mobile stations, called Loads of Hope, where people stricken by natural disasters such as hurricane Katrina can wash their clothing. This is an example of which type of corporate social responsibility?

Accepted Answer

Procter & Gamble's Loads of Hope program goes beyond their ethical and social duties to provide a resource for disaster victims to wash their clothes. This initiative is focused solely on helping others, making it an example of altruistic duties.

Question 9

_____ consist of societal and professional standards of right and fair practices that are expected of marketing managers as they develop and implement marketing strategies.

Accepted Answer

Marketing ethics refer to societal and professional standards of right and fair practices that are expected of marketing managers. These standards guide marketing managers as they develop and implement marketing strategies. Marketing ethics are based on values such as respect, honesty, responsibility, fairness, and transparency. Adhering to marketing ethics helps organizations build trust, credibility, and goodwill with their customers, employees, and other stakeholders.

Question 10

Standards or moral codes of conduct to which a person, group, or organization adheres are known as _____.

Accepted Answer

Ethics refer to the moral principles and values that are considered acceptable and appropriate by a particular society, group, or organization. Regulations and laws are specific rules and requirements set by governments or other authorities, while rights and responsibilities pertain to the entitlements and obligations of individuals. Therefore, ethics is the most appropriate answer to the given question.

Question 11

A company acting within expected ethical boundaries is fulfilling its _____.

Accepted Answer

A company acting within expected ethical boundaries is fulfilling its ethical duties, which pertain to adhering to moral principles and standards of conduct.

Question 12

_____ products are products that have little to no potential to create value of any type.

Accepted Answer

Deficient products are those that fail to deliver any significant value or benefits, often due to poor quality or design, making them ineffective or useless.

Question 13

Toyota's Prius hybrid automobile is touted as an environmentally-friendly product that gets high gas mileage, which is important for consumers facing high gas prices. The Prius is an example of which product category?

Accepted Answer

The Prius is marketed as a product that has a positive effect on the environment, which fits the definition of a salutary product category.

Question 14

The Consumer Bill of Rights was introduced in _____.

Accepted Answer

The Consumer Bill of Rights was introduced by President John F. Kennedy in 1962.

Question 15

An organization's activities and status related to its societal obligations is called _____.

Accepted Answer

Corporate social responsibility is the term used to describe an organization's actions and behavior in relation to its social and environmental obligations. This includes efforts to contribute to sustainable development, be a good corporate citizen, and address the needs and concerns of stakeholders. Corporate culture (A) refers to the shared values, beliefs, and norms that shape the behavior of employees within an organization. A corporate code of ethics (C) is a set of guidelines that delineates acceptable behavior for employees of an organization. Corporate identity (D) refers to the visual and graphic elements that represent a company, such as its logo and branding. Corporate social marketing (E) involves the use of marketing techniques to promote socially beneficial behaviors or attitudes.

Question 16

Which type of products are good for both consumers and society in the long run and offer high utilitarian value but not hedonic value?

Accepted Answer

Salutary products are good for both consumers and society in the long run and offer high utilitarian value but not hedonic value. These products provide benefits to consumers' physical and mental health, and also have a positive impact on society by promoting overall well-being. Examples of such products include health foods, nutritional supplements, and fitness equipment.

Question 17

Which type of socially responsible duties include giving back to communities through philanthropic activities?

Accepted Answer

Altruistic duties involve giving back to communities through philanthropic activities, focusing on selfless concern for the well-being of others.

Question 18

Tobacco products and sugary soft drinks are products that provide hedonic value to consumers but may be harmful in the long run. Which type of product category does this describe?

Accepted Answer

The products providing hedonic value but potentially harmful in the long run fit the category of pleasing products. This category includes products that consumers enjoy in the short term but may have negative consequences in the long term, such as sugary drinks and tobacco products.

Question 19

Which concept proposes that all the functions of the organization should work together in satisfying its customers' wants and needs?

Accepted Answer

The marketing concept proposes that all functions of the organization, including production, logistics, and marketing, should work together to identify and satisfy the needs and wants of customers. This approach places the customer at the center of the organization and emphasizes the importance of creating customer value to achieve organizational success.

Question 20

Which of the following activities is a way for a company to exhibit its social responsibility?

Accepted Answer

All of the given choices are ways for a company to exhibit its social responsibility. Making donations to causes shows the company's commitment to contributing to the betterment of society. Insuring responsible manufacturing processes ensures that the company is not harming the environment or its stakeholders. Acting quickly when product defects are detected shows that the company values the safety and well-being of its customers. Encouraging employees to volunteer for local causes demonstrates the company's support for community engagement and development.

Quiz 16: Consumer and Marketing Misbehavior