Question 1

Which technology creates a common interface for data to be carried across networks between different devices?

Accepted Answer

IMS (IP Multimedia Subsystem) creates a common interface for different types of data (voice, video, messaging, etc.) to be carried across networks between different devices. This allows for seamless communication between devices and networks, regardless of the technology used by each. Wi-Fi, VoIP, and RFID are technologies that can transmit data, but they do not provide a common interface for data to be carried across networks between different devices.

Question 2

News reports from Zimbabwe indicate that a small pack of locally produced coffee beans costs approximately 1 billion Zimbabwean dollars,an amount that would have bought 60 new cars less than ten years ago in the same country.It can be surmised that Zimbabwe is experiencing extremely high levels of _____ which has spiraled out of control in the past ten years.

Accepted Answer

The high cost of a small pack of coffee beans indicates that the country is experiencing inflation, which has led to the devaluation of its currency.

Question 3

Which of the following protects the consumer by exerting legal,moral,and economic pressures on business and government?

Accepted Answer

Consumerism is the idea and movement that advocates for the rights and protection of consumers in their interactions with businesses and governments. It exerts legal pressure through consumer protection laws, moral pressure by promoting ethical business practices, and economic pressure through boycotts and consumer activism. Corporate branding is the practice of creating and promoting a brand image for a company. Socialism and capitalism are economic and political systems, respectively, that do not focus specifically on protecting consumers.

Question 4

As suggested by President John.F.Kennedy,the consumers' right to be _____ states that consumers should be assured that the goods and services they purchase are not injurious with normal use.

Accepted Answer

The consumers' right to be safe ensures that consumers are protected from harm or injury from the products or services they purchase. This means that products should be designed, manufactured, and marketed in a way that minimizes the risk of harm and injury with normal use. President John F. Kennedy emphasized the importance of this right in his consumer bill of rights, which he introduced in 1962.

Question 5

Jonathan Nash,aged 60,feels young at heart and spends most of his leisure time networking with family and friends online or surfing the Web.He belongs to the baby boom generation and exemplifies _____.

Accepted Answer

Jonathan Nash's behavior of spending leisure time networking and surfing the web indicates that he is highly involved in social media. Therefore, the best choice is C - a social media maven. A social animal (A) might not necessarily be involved in social media, while generation Xers (B) typically refer to individuals born in the mid-1960s to the early 1980s, and Jonathan Nash is a baby boomer born between 1946 and 1964. 'Web addict' (D) is a negative term and may not accurately describe Jonathan Nash's behavior with technology.

Question 6

_____ can lead to a damaging downward spiral,causing a freefall in business profits,lower returns on most investments,and widespread job layoffs.

Accepted Answer

Deflation is a decrease in the general price level of goods and services, which leads to lower profits for businesses and lower returns for investments. This can lead to a cycle where businesses lay off workers and consumers stop spending, leading to even lower prices and further economic decline.

Question 7

Marketers' standards of conduct and moral values is termed as _____.

Accepted Answer

Marketing ethics refers to the standards of conduct and moral values of marketers, which guide them to make decisions that are fair, honest, and socially responsible. This includes issues such as truth in advertising, avoiding misleading or deceptive practices, and respecting the privacy of consumers.

Question 8

The process of reducing consumer demand for a product to a level that a firm can reasonably supply is called __________.

Accepted Answer

Demarketing is the process of deliberately reducing consumer demand for a product or service to a level that the firm can handle more efficiently or sustainably. This approach is often used when a company is faced with limited resources or when it wants to discourage certain types of customers from using its products or services. Demarketing can involve various marketing strategies, such as price increases, limited distribution, or reducing advertising efforts.

Question 9

The four basic consumer rights are: the right to be informed,the right to be heard,the right to be safe,and:

Accepted Answer

The right to choose freely is the fourth basic consumer right, as it allows consumers to choose from a range of products and services without coercion or pressure. The other options (A, C, and D) are not among the basic consumer rights. While consumers have the right to provide feedback and make complaints, they do not have the explicit right to demand or sue without cause.

Question 10

_____ leads to new goods and services for consumers,improves existing products,offers better customer service,and often reduces prices through new,cost-efficient production and distribution methods.

Accepted Answer

Technology often leads to innovation and new advancements in products and services, making them more efficient and cost-effective, which ultimately benefits consumers. It also leads to better communication and customer service, as well as new and improved ways of delivering products to customers. Reintermediation and disintermediation refer to changes in the distribution channels for goods and services, while consumerism refers to the protection and promotion of consumer rights and interests.

Question 11

Which of the following is a critical issue facing governmental agencies regarding ethics in marketing research?

Accepted Answer

Invasion of personal privacy is a critical issue facing governmental agencies regarding ethics in marketing research. As technology continues to advance, companies have easier access to personal information and may use it without seeking consent or disclosing how they acquired it. This raises concerns about violating an individual's privacy rights and using personal information for unethical purposes. As a result, governmental agencies must establish strict regulations and guidelines for companies to follow in collecting and using personal information in marketing research.

Question 12

Baier Oil Co.encourages consumers to reduce oil consumption by engaging in environmentally friendly commuting through its promotional campaigns.It also provides tips for people to employ green commuting.These measures employed by the company to reduce the demand for oil shows that they are engaging in:

Accepted Answer

The answer of Baier Oil Co.encourages consumers to reduce oil...

Question 13

Which of the following ethical issues is associated with firms' product strategies?

Accepted Answer

The answer of Which of the following ethical issues is...

Question 14

Bank of Norasmus is one of the few banks that provides credit to disadvantaged communities.These loans are used for housing,small business creation,and education or personal development.Such an organization is said to be involved in _____.

Accepted Answer

Bank of Norasmus is involved in socially responsible investing by providing credit to disadvantaged communities for housing, small business creation, education, or personal development.

Question 15

In marketing,_____ involves accepting an obligation to give equal weight to profits,consumer satisfaction,and social well-being in evaluating a firm's performance.

Accepted Answer

Social responsibility in marketing involves considering not just profits, but also the impact of business decisions on consumers and society as a whole. This can include efforts to reduce environmental impact or improve working conditions for employees. Green washing, on the other hand, involves making false or exaggerated claims about a company's environmental impact or sustainability efforts. Consumerism refers to the idea that consumers should have a say in the types of products and services that are available, while demarketing involves intentionally reducing demand for a certain product or service.

Question 16

A leading e-Learning company is expanding its operations in Japan.To ensure smooth communication between branches,it needs a communication technology which provides facilities such as call plans,call waiting,and three way calling.Additionally it would like to keep costs low.Which technology should it adopt?

Accepted Answer

VoIP (Voice over Internet Protocol) is a cost-effective way to make phone calls over the internet. It allows for call plans, call waiting, and three-way calling while keeping costs low. This makes it the best choice for the e-Learning company's communication needs. IMS (IP Multimedia Subsystem) and JIT (Just In Time) are not communication technologies, while RFID (Radio Frequency Identification) is used for tracking and identifying objects, not for communication between branches.

Question 17

Which of the following devalues money and reduces its purchasing power through persistent increase in prices?

Accepted Answer

Inflation

Question 18

It has been seen that periods of major innovations often lead to:

Accepted Answer

Major innovations often increase productivity, which can lead to higher standards of living for individuals and society as a whole. This can be due to increased efficiency, lower costs, and new opportunities for economic growth. Therefore, it is most likely that periods of major innovations lead to higher standards of living.

Question 19

MedicaPlus,a pharmaceutical company,is finding it difficult to track and locate slow moving medicines.Pharmaceutical distributors have been complaining about the time it takes for their orders to arrive.One technology that can be used effectively to shorten this waiting period,locate,and track items easily is:

Accepted Answer

RFID (Radio-Frequency Identification) technology can be used to track and locate slow-moving medicines in real-time. Each medicine can be tagged with an RFID chip, which can be read by RFID readers placed at various locations. This will allow MedicaPlus to locate and track the medicines quickly and effectively, reducing the waiting period for pharmaceutical distributors. VoIP, sorting, and GPS may not be as effective in solving the problem of tracking and locating slow-moving medicines.

Question 20

The amount of money available with people after buying necessities such as food,clothing,and housing is referred to as _____.

Accepted Answer

Discretionary income is the amount of money that is left with people after buying necessities such as food, clothing, and housing. Basic income refers to a fixed minimum income that every individual in a society must receive, and gross income is the total income earned before deductions or taxes. Personal income refers to an individual's total income including salaries, wages, and investment earnings.

Quiz 3: The Marketing Environment, Ethics, and Social Responsibility