Define and describe the importance of social responsibility in marketing.
What will be an ideal response?
In marketing, social responsibility is defined as an organization's obligation tomaximize its positive impact and minimize its negative impact on society. Social responsibility thus deals with the total effect of all marketing decisions on society. In marketing, social responsibility includes the managerial processes needed to monitor, satisfy, and even exceed stakeholder expectations and needs.
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Which of the following actions should a global marketer consider to counter the country stereotyping problem in global markets?
A) export products without any modifications B) restrict production to home country C) develop an international image D) sell products at below-market prices
Which of the following methods for new-product development incorporates buyers' preferences in the final design of the product?
A) quality function deployment B) market leadership C) cost leadership D) incremental innovation E) disruptive technology
When comparing a retail business to a service business, the financial statement that changes the least is the
A) Balance Sheet B) Income Statement C) Statement of Owner's Equity D) Statement of Cash Flow
On the statement of cash flows, the proceeds from the sale of equipment would be classified as:
a. an investing activity. b. an operating activity. c. a financing activity. d. either an investing, operating, or financing activity.