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On average, marketing cost represents what percentage of the price that a consumer pays for a product?
50%
Why do business that use the marketing concept benefit more from marketing?
Marketing helps the business maker better decisions about what to sell and how to sell it
Marketing activities covered in the American Marketing Associations code of ethics include
Promotions, Pricing, and distribution
Why do consumers have many choices of products to purchase?
Because of marketing
How big is promotion and selling cost of marketing ?
2 to 10 percent
Which national elected leader proposed the consumer bill of rights?
John F. Kennedy
What percentage of jobs in the united states involves the performance of marketing activities as a major job responsibility?
Between one-fourth and one-third of all jobs
True or False: The better Business Bureau is a consumer protection organization sponsored by consumer groups.
True
What might happen if a consumer has a negative opinion about an important part of business ?
It can affect whether or not they will be customers
What is green marketing ?
marketing activities designed to satisfy customer needs without negatively impacting the environment
How does marketing help the environment?
Natural resources and raw materials can be used more efficiently rather than being wasted on products consumers will not buy
What federal law is intended to protect consumers by requiring that packages be accurately labeled, and contents disclosed?
Fair packaging and Labeling Act
Effective uses for marketing include
Contributing to social improvement and Matching supply with demand
What should happen if a product is not meeting customers needs?
Business people should avoid using marketing such as promotion and price reductions to try to sell the product
What is a boycott
an organized effort to influence a company by refusing to purchase its products
Why is a business that is committed to long-term customer relationships less likely to use high-pressure sales tactics?
The business will be successful only when customers return repeatedly because they are satisfied with the business and believe the business is concerned about their needs.
What is a code of ethics?
A set of standards or rules that guide ethical business behavior
Complaints about marketing include all of the following except
Marketing creates an imbalance in supply and demand
What happens if consumers have more choices of products?
they will usually buy those that are reasonably priced
Ethics
are moral principles or values based on honesty and fairness
If a heat wave in the West is causing electrical outages, how can marketing help alleviate the problem?
Marketing helps to prevent or reduce the impact of problems that could otherwise result in serious outcomes for society.
Why do marketers have a special responsibility for ethical behavior?
Because marketers deal directly with customers
The effects of marketing on society include all of the following except
Decreases in international trade
Why is marketing misused ?
To misrepresent poor products
Code of ethics
a set of standards or rules that guide ethical business behavior