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109) Governments develop public policy to ________.D Get answer to your question and much more Skill:ConceptObjective:LO 3.4: Explain the key changes in the political and cultural environments.Difficulty:Easy110) Laws are passed to define and prevent unfair competition primarily because ________.B Get answer to your question and much more AACSB:Analytical thinkingSkill:ConceptObjective:LO 3.4: Explain the key changes in the political and cultural environments.Difficulty:Moderate111) Funco Inc., a toy manufacturer, sold plastic racing cars that were manufactured with toxicmaterials, which threatened the health of several children. Under which of the following acts isFunco most likely to be prosecuted?AAACSB:Analytical thinking Get answer to your question and much more Skill:ApplicationObjective:LO 3.4: Explain the key changes in the political and cultural environments.Difficulty:Moderate38 Notes This preview shows page 6 - 8 out of 8 pages. consists of laws, government agencies, and pressure groups thatinfluence or limit various organizations and individuals in a given societyLegislation Regulating BusinessWell-conceived regulation can encourage competition and ensure fair markets for goodsand servicesPublic policyguides commerce; sets of laws and regulations that limit business for thegood of society as a wholeMarketers must work hard to keep up with changes in regulations and theirinterpretationsBusiness legislation is enacted to protect businesses from each otherGovernment regulation is to protect consumers from unfair business practices andprotect the interest of society against unrestrained business behaviorMarketers need to know about the major laws protecting competition, consumers, andsocietyIncreased Emphasis on Ethics and Socially Responsible ActionsMany industrial and professional trade associations have suggested codes of ethicsWorry about online privacy issuesBusinesses will track consumers online browsing and buying behaviors to show ads thatwill relate to themConsumer advocates and policy makers are taking action to protect consumer privacyCause-Related Marketing“values-led business” or “caring capitalism”their mission is to use business to makethe world a better placecause related marketing lets companies do well by doing good by linking purchases ofthe company’s products or services with benefitting worthwhile causes or charitableorgs.Critics worry that cause-related marketing is more a strategy for selling than a strategyfor giving-that “cause-related” marketing is really cause exploitative marketing Cultural EnvironmentConsists of institutions and other forces that affect a society’s basic values, perceptions,preferences, and behaviorsThe Persistence of Cultural ValuesSociety’s core beliefs and values have a high degree of persistence ex. Individualfreedom, hard work, getting married, and successCore beliefs and values are passed on from parents to children and are reinforced byschools, businesses, religious institutions, and governmentSecondary beliefs and values are more open to change ex. Believing that people shouldget married early in lifeMarketers have some change of changing secondary values but little chance of changingcore valuesShifts in Secondary Cultural ValuesImpact popular movies, singers, and celebrities have on people’s hairstyles and clothingMarketers want to predict cultural shifts to spot new opportunities or threatsPeople use products, brands, and services as a means of self-expression, and they buyproducts and services that match their views of themselvesToday’s digital technologies seem to have launched an era of mass minglingoPeople are using social media to connect more than everConsumers increasing tap digitally into networks of friends and online brand Upload your study docs or become a Course Hero member to access this document End of preview. Want to read all 8 pages? Upload your study docs or become a Course Hero member to access this document Tags Marketing, marketers, Marketing services agencies Which of the following group that has a potential interest on an organization's ability to achieve its objectives?A public is defined as any group that has an actual or potential interest in, or impact on, an organization's ability to achieve its objectives.
What is meant by political environment of business?Political environment includes political conditions such as general stability and peace in the country and the attitude of elected government towards business. A stable political system can make business-friendly decisions that promote local businesses and attract foreign investors. Was this answer helpful?
What are the key actors and forces in the company's marketing environment that affect its ability to serve its target customers effectively?The forces close to the company that affect its ability to serve its customers include-the internal environment, suppliers customers, marketing intermediaries, competitors and publics.
What includes the natural resources that a company uses as inputs that affects their marketing activities?Continuing the discussion of the forces that make up the marketing macroenvironment, we are now ready to discuss the natural environment, or more specifically, the natural resources that marketers need as inputs or that affect marketing activities.
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Is the laws government agencies and pressure groups that influence and limit various organizations and individuals in a given society?
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