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Marketing 300 uky > Chapter 3 and 4 exam review > Flashcards

Chapter 3 and 4 exam review Flashcards

1
Q

the process of collecting information about forces in the marketing environment

A

Environmental Scanning

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2
Q

the process of assessing and interpreting the information gathered through environmental scanning

A

Environmental Analysis

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3
Q

what are the two approaches to environmental forces

A

Passive: accept them as uncontrollable proactive: try to shape and influence them

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4
Q

firms that market products with similar features and benefits to the same customers at similar prices

A

Brand Competitors

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5
Q

Firms that compete in the same product class but market products with different features, benefits, and prices

A

product competitor

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6
Q

firms that provide very different products that solve the same problem or satisfy the same basic customer need

A

generic competitors

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7
Q

firms that compete for the limited financial resources of the same customers

A

Total budget competitors

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8
Q

when an organization offers a product that has no close substitute, making it the sole source of supply

A

monopoly

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9
Q

when a few sellers control the supply of a large proportion of a product

A

Oligopoly

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10
Q

when an organization with many competitors develops a marketing strategy to differentiate its product

A

monopolistic competition

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11
Q

involves a large number of sellers, no one of which influences price or supply

A

Pure competition

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12
Q

a pattern of economic fluctuations that has four stages

A

The Business Cycle

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13
Q

the four steps of the business cycle are

A

prosperity, recession, depression, recovery

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14
Q

unemployment is low and total income is relatively high

A

Prosperity

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15
Q

unemployment rises and the total buying power declines

A

Recession

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16
Q

unemployment is very high, wages are very low, total disposable income is at a minimum and consumers lack confidence in the economy

A

Depression

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17
Q

the economic moves from depression or recession to prosperity

A

Recovery

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18
Q

resources such as money, goods, and services, that can be traded in an exchange

A

Buying power

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19
Q

after-tax income

A

disposable Income

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20
Q

disposable income available for spending and saving after an individual has purchased the basic necessities of food, clothing, shelter

A

discretionary income

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21
Q

KNOW WHAT THIS IS

A

national customer satisfaction index

22
Q

what kind of force?

1) enactment of legislation
2) legal decisions interpreted by courts through civil and criminal cases
3) influence of regulatory forces

A

Political Forces

23
Q

legal and regulatory force;

refers to laws designed to preserve competition

A

Procompetitive legislation

24
Q

legal and regulatory forces;
Protects people from harm, prohibits hazardous products, requires information disclosure, aimed at particular marketing activities

A

Consumer Protection Legislation

25
Q

Procompetitive legislation, consumer protection legislation, encouraging compliance with laws, regulatory agencies, and self-regulatory forces are all what type of forces

A

Legal and regulatory forces

26
Q

most heavily influences marketing activities; curbing inappropriate behavior like false advertising, misleading prices, deceptive packaging and labeling

A

Federal trade commission

27
Q

a self-regulatory unit that considers challenges to issues raised by the national advertising division about an advertisement

A

Better business bureau national advertising review board

28
Q

the application of knowledge and tools to solve problems and perform tasks more efficiently

A

Technology

29
Q

what are the impacts of technology

A

rapid technologic and change are expected to continue, mobile devices and consumers increasing use of the internet have changed, can improve productivity, and expanding opportunities for e-commerce

30
Q

the influences in a society and its cultures that bring about changes in people’s attitudes, beliefs, norms, customs, and lifestyles

A

sociocultural forces

31
Q

right to safety
right to be informed
right to choose
right to be heard

A

Kennedy’s consumer bill of rights

32
Q

What three things affect sociocultural forces

A

Demographics and Diversity characteristics, Cultural Values, and consumerism

33
Q

an organizations obligation to maximize its positive impact and minimize its negative impact on society

A

social responsibility

34
Q

the adoption of a strategic focus for fulfilling the economic, legal, ethical and philanthropic social responsibilities expected by stakeholders as shown in the pyramid of corporate social responsibility

A

Marketing citizenship

35
Q

bottom level of the pyramid of corporate social responsibility; the foundation upon which all others rest

A

economic

36
Q

2nd level of the pyramid of corporate social responsibility; law is society’s codification of right and wrong; play by the rules of the game

A

Legal

37
Q

3rd level of the pyramid of corporate social responsibility; obligation to do what is right, just, and fair

A

Ethical

38
Q

Top level of the pyramid of corporate social responsibility; contribute resources to the community, improve quality of life

A

Philanthropic

39
Q

principles and standards that define acceptable conduct in marketing as determined by various stakeholders

A

marketing ethics

40
Q

an identifiable problem, situation or opportunity requiring a choice among several actions that must be evaluated as right or wrong

A

Ethical Issues

41
Q

the synergetic use of organizational core competencies and resources to address key stakeholders’ interests and achieve both organizational and social benefits

A

strategic philanthropy

42
Q

the potential for the long-term well-being of the natural environment, including all biological entities, as well as the interaction among nature and individuals, organizations, and business strategies

A

sustainability

43
Q

a strategic process involving stakeholder assessment to create meaningful long-term relationships with customers while maintaining, supporting, and enhancing the natural environment

A

Green Marketing

44
Q

the efforts of independent individuals, groups, and organizations to protect the rights of consumers

A

consumerism

45
Q

an identifiable problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong, ethical or unethical

A

ethical issues

46
Q

factors that influence ethical decisions; in daily life, people base ethical decisions on personal principles and values

A

individual factors

47
Q

factors that influence ethical decisions; an organizational setting, people rely on organizational values for ethical decision making

A

organizational relationships

48
Q

factors that influence ethical decisions; conditions that limit barriers or provide awards

A

opportunity

49
Q

formalized rules and standards that describe an organization’s employee expectations

A

code of conduct

50
Q

are usually responsible for creating and distributing the code and meeting with organizational members to discuss or provide advice about ethical issues

A

Ethics Officer

51
Q

codifying ethical standards and implementing compliance programs and codes of conduct that incorporate both legal and ethical concerns in the best approach to preventing violations

A

implementing ethical/ compliance programs

Marketing 300 uky (11 decks)

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