ch 2 mcq

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University of the Fraser Valley *

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100

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Marketing

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Feb 20, 2024

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1. The rules that help us tell the difference between right and wrong and encourage us to do the right thing are known as: A) Morals B) Ethics C) Values D) Laws Correct answer: B) Ethics 2. The rules that we use to decide what is good and what is bad are known as: A) Values B) Morals C) Ethics D) Laws Correct answer: B) Morals 3. The document that companies use that helps describe specifically how employees should respond in different situations is called a: A) Code of Conduct B) Mission Statement C) Code of Ethics D) Employee Handbook Correct answer: C) Code of Ethics 4. _________ is where there is a difficult choice to make between two or more options. A) Dilemma B) Consequence

C) Resolution D) Judgment Correct answer: A) Dilemma 5. Some ethical dilemmas facing society and businesses include: A) Discrimination B) Bribery C) Environmental pollution D) All of the above Correct answer: D) All of the above 6. The term that is used to describe the decision of an employee to inform officials or the public about a legal ethical violation is called: A) Reporting B) Transparency C) Whistleblowing D) Accountability Correct answer: C) Whistleblowing 7. An example of an issue that may be reported by a whistleblower could include: A) Misuse of company funds B) Violation of safety regulations C) Unethical behavior D) All of the above Correct answer: D) All of the above

8. _______________ is the crime that involves lying or pretending. A) Fraud B) Embezzlement C) Forgery D) Extortion Correct answer: A) Fraud 9. There are many types of frauds that take place on a regular basis. The fraud that involves high- pressure phone calls to get customers to donate to bogus charities is called: A) Telemarketing fraud B) Identity theft C) Pyramid scheme D) Money laundering Correct answer: A) Telemarketing fraud 10. A form of fraud where the person violates trust by moving funds into their account instead of the correct account is called: A) Embezzlement B) Insider trading C) Money laundering D) Tax evasion Correct answer: A) Embezzlement 11. A form of fraud where records are altered in some way to deceive other persons is known as: A) Tampering

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B) Forgery C) Money laundering D) Extortion Correct answer: A) Tampering 12. The illegal practice of buying or selling shares of stock based on confidential information is known as: A) Insider trading B) Embezzlement C) Bribery D) Identity theft Correct answer: A) Insider trading 13. Businesses exhibit _______ through their values, their ethics, and the contributions that they make to their communities. A) Corporate governance B) Corporate social responsibility (CSR) C) Corporate branding D) Corporate culture Correct answer: B) Corporate social responsibility (CSR) 14. CSR companies believe that it is important to be socially responsible to: A) Shareholders B) Employees C) Customers D) All of the above

Correct answer: D) All of the above 15. If a business chooses to follow CSR principles by providing an on-site daycare facility, they are: A) Promoting work-life balance B) Enhancing employee productivity C) Demonstrating social responsibility D) All of the above Correct answer: D) All of the above 16. By practicing business ethics and engaging in corporate social responsibility, a business could: A) Build a positive reputation B) Attract and retain talented employees C) Gain customer loyalty D) All of the above Correct answer: D) All of the above 17. The process of providing important information to groups, such as shareholders, lenders, and investors, is called: A) Financial reporting B) Corporate communication C) Duty to report D) Transparency Correct answer: A) Financial reporting 18. According to the Occupational Health and Safety Act, workers have basic rights in the workplace, which include:

A) The right to fair wages B) The right to a safe work environment C) The right to job security D) The right to work-life balance Correct answer: B) The right to a safe work environment 19. The problem of ______ is commonly referred to as the existence of a glass ceiling in the workplace. A) Gender discrimination B) Age discrimination C) Racial discrimination D) Disability discrimination Correct answer: A) Gender discrimination 20. ______ legislation is designed to prohibit an employer from compensating employees of one sex differently from employees of the other sex who perform the same or substantially the same work. A) Pay equity B) Equal pay C) Gender equality D) Wage parity Correct answer: B) Equal pay 21. The ethical principles that guide marketing decisions and actions are known as: a) Marketing strategies b) Marketing tactics c) Marketing ethics d) Marketing objectives

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Answer: c) Marketing ethics 22. Which of the following is an example of an unethical marketing practice? a) Providing accurate product information to consumers b) Engaging in deceptive advertising c) Offering discounts to loyal customers d) Conducting market research Answer: b) Engaging in deceptive advertising 23. The process of gathering, analyzing, and interpreting data about a market is known as: a) Market segmentation b) Market targeting c) Market research d) Market positioning Answer: c) Market research 24. When a company targets a specific group of customers with similar characteristics, it is referred to as: a) Mass marketing b) Niche marketing c) Segment marketing d) Target marketing Answer: b) Niche marketing 25. Which of the following is an example of a demographic segmentation variable? a) Lifestyle b) Attitudes c) Income d) Occupation Answer: c) Income

26. Which view of ethical decision-making focuses on whether a decision or behavior promotes one's long-term self-interests? a) Individualism view b) Moral rights view c) Utilitarian view d) Justice view Answer: a) Individualism view 27. What is the term for a situation that, although offering potential benefits, is unethical? a) Moral relativism b) Moral absolutism c) Ethical dilemma d) Moral reasoning Answer: c) Ethical dilemma 28. According to Lawrence Kohlberg's three levels of moral development, which level is characterized by individuals adhering to societal norms and expectations? a) Preconventional level b) Conventional level c) Postconventional level d) Moral absolutism Answer: b) Conventional level 29. Which type of manager fails to consider ethics in their decision-making? a) Immoral manager

b) Amoral manager c) Moral manager d) Ethical manager Answer: b) Amoral manager 30. What is the term for a formal document that sets standards for ethical conduct within an organization? a) Whistleblower policy b) Code of ethics c) Ethical dilemma d) Ethics training Answer: b) Code of ethics 31. Which view of corporate social responsibility (CSR) states that businesses should focus on contributions to society, not just making profits? a) Socioeconomic view of CSR b) Classical view of CSR c) Triple Bottom Line view d) Virtuous circle view Answer: a) Socioeconomic view of CSR 32. What is the term for doing business in a way that respects the needs of customers and protects the natural environment? a) Sustainability b) Sustainable development c) Triple Bottom Line d) Social responsibility audit

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Answer: a) Sustainability 33. Which global quality standard certifies organizational environmental objectives for minimal environmental impact? a) ISO 9001 b) ISO 14001 c) ISO 27001 d) ISO 45001 Answer: b) ISO 14001 51. Which of the following is an example of an economic factor in the external environment? A. Technological advancements. B. Changing demographics. C. Political stability. D. Interest rates. E. Social media trends. D 52. The PESTEL analysis framework is used to analyze: A. Competitive forces within an industry. B. Internal strengths and weaknesses of an organization. C. Customer preferences and buying behavior. D. Environmental sustainability practices. E. External factors affecting an organization.

E 53. Which of the following is a characteristic of a monopoly market structure? A. Many sellers offering differentiated products. B. Perfect competition and ease of entry. C. A single seller dominating the market. D. Limited buyer choices and high barriers to entry. E. Collaborative relationships among competitors. C 54. The process of dividing a larger market into smaller groups with similar characteristics is called: A. Market segmentation. B. Market integration. C. Market penetration. D. Market development. E. Market differentiation. A 55. Which of the following is an example of a psychographic segmentation variable? A. Age. B. Gender. C. Income. D. Personality traits. E. Geographic location. D

56. Which of the following is a component of the marketing mix? A. Organizational structure. B. Production process. C. Pricing strategy. D. Financial statements. E. Competitive analysis. C 57. Which of the following is a characteristic of a product in the growth stage of its life cycle? A. High sales and profits. B. Limited distribution channels. C. Low consumer awareness. D. Declining demand. E. Minimal competition. A 58. Which of the following is an example of a pull promotional strategy? A. Offering discounts to retailers. B. Providing training programs for sales representatives. C. Advertising directly to consumers. D. Conducting market research studies. E. Establishing partnerships with suppliers. C 59. Which of the following pricing strategies involves setting the initial price for a new product relatively high?

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A. Penetration pricing. B. Skimming pricing. C. Cost-plus pricing. D. Competitive pricing. E. Promotional pricing. B 60. Which of the following is a stage in the consumer decision-making process? A. Pricing. B. Promotion. C. Distribution. D. Evaluation of alternatives. E. Product development. D

ch 2 mcq

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