Marketing Ethics and Strategies Quiz

A process where companies provide tips and advice on car maintenance, carpooling, and reducing idling to help consumers save fuel, often implemented when fuel prices are high.

The fundamental purpose of an organization that sets it apart from its competitors. It outlines the organization's reason for existence and its core values.

A component of a SWOT analysis that represents a company's internal strength, such as low operating expenses, which gives it a competitive advantage.

The highest level of corporate social responsibility, characterized by charitable giving and community involvement beyond legal and ethical obligations.

Part of a social media marketing plan that involves analyzing competitors' social media presence, including their chosen platforms, tools, and overall effectiveness.

A trade restriction that sets a limit on the quantity of specific products allowed to enter a country for resale.

The total value a customer brings to a business over their entire relationship, considering both revenue and intangible benefits, minus the investment to attract and retain them.

The organizational function focused on creating, communicating, and delivering value to customers. It involves managing customer relationships to benefit both the organization and its stakeholders.

A marketing strategy that involves entering a new market by using the same approach that the firm uses in its existing foreign markets.

A marketing strategy that involves entering a new market by developing a new marketing approach specifically tailored to that particular market.

An individual who has a significant influence over others' opinions and decisions, especially regarding a particular product or industry.

A consumer who is reluctant to adopt new products or technologies, preferring to stick with what they are familiar with.

The process of ensuring that a potential customer meets the criteria to be considered a valid sales prospect.

The moral principles and standards that guide an individual's or organization's behavior.

A situation where a retailer carries a wide variety of product categories, sometimes exceeding its core market focus.

Protecting consumer privacy is a critical ethical concern for social media marketers. They must be aware of and respect user data, ensuring its confidentiality and security. Unethical practices like data misuse or tracking without informed consent can lead to serious consequences.

Packaging plays a crucial role in influencing consumer purchasing decisions. It can communicate product benefits, appeal to target audiences, and make a product stand out on store shelves. A well-designed package can attract attention, build brand image, and increase sales.

A captive brand was once widely available but now has limited distribution, usually found in one or two specific retail outlets. These brands often serve as exclusive alternatives or complement other offerings within a store or chain.

A compensation system for sales representatives often ties their earnings to sales quotas. This means they earn more when they exceed their targets and may face penalties if they fall short. This motivates them to drive sales and achieve business objectives.

Public and private consumer groups, such as Mothers Against Drunk Driving (MADD), are important components of the legal environment. They advocate for consumer rights and protection, influencing legislation, raising awareness of issues, and holding businesses accountable.

Specialty advertising uses promotional items like bookmarks, keychains, or pens to advertise a product or brand. These items are often customized with company logos or messages, offering a tangible reminder and potentially generating brand awareness and recognition.

Once consumers have exposure to a product through use, advertising, or visual recognition, it transitions from unknown to known. This increased familiarity can contribute to a higher probability of purchase, as consumers become more comfortable and knowledgeable about the offering.

Interactive marketing involves two-way communication between buyers and sellers, where the customer has control over the information received from a marketer. This can occur through personalized emails, online chats, or interactive experiences that allow customers to actively engage with the brand.

A type of marketing that focuses on creating a buzz around a product or service, relying heavily on word-of-mouth recommendations and social media engagement.

A situation where businesses focus too narrowly on their products or services, failing to recognize the broader customer needs and market trends.

The process of developing a distinct image and perception of a product in the minds of consumers, highlighting its unique features and advantages relative to competitors.

A business strategy that emphasizes a long-term vision and direction for the company, involving setting goals, analyzing the environment, and formulating plans to achieve objectives.

A business approach that emphasizes customer satisfaction and building long-term relationships with customers, prioritizing needs and experiences.

A store that dominates a specific product category due to its wide selection, competitive pricing, and overall value proposition, attracting a significant portion of the market.

A marketing strategy that focuses on increasing sales of existing products in existing markets. It aims to achieve market dominance by satisfying current customers and attracting new ones.

A type of marketing that uses digital channels like websites, social media, and email to connect with and engage consumers. It emphasizes direct interaction and personalized experiences rather than traditional advertising.

The infrastructure, policies, and regulations that enable efficient trade between countries. It includes factors like transportation networks, communication systems, and trade agreements.

A shift in the population demographics of Canada, characterized by an aging population, increased diversity, and higher average incomes.

The exterior look and feel of a retail store, including elements like architecture, window displays, signage, and entrance areas.

A period of economic decline characterized by a sustained decrease in prices, leading to reduced consumer spending, business profits, and investment.

A legal protection granted to a brand name, logo, or other symbol to prevent others from using it without permission.

A numerical bar code system used to identify and track products, allowing retailers to efficiently manage inventory, pricing, and sales.