The Public Is Becoming More Aware of How Marketers' Activities

question 13

Multiple Choice

The public is becoming more aware of how marketers' activities affect the welfare of consumers and society. As a result, more firms are working to

• A) raise prices in order to increase their profits so that they can contribute to philanthropic causes.
• B) reduce the quality of their products in order to save money and provide less expensive products to their consumers.
• C) reduce their profits by donating more time and money to improve social welfare and environmental conditions.
• D) enact laws requiring companies to work toward the welfare of customers and society.
• E) create a responsible approach to developing long-term relationships with customers and society.

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Definitions:

Specialization of Labor

The division of work into specific tasks, with each worker focusing on a particular task to increase efficiency and expertise.

Principles of Management

These are fundamental guidelines that outline effective management practices to run organizations efficiently and achieve organizational goals.

Functional Approach

A methodology in business or research that focuses on the specific roles and activities within a system or organization.

Universal Process Approach

A methodology that assumes all businesses undergo similar processes and therefore can be improved or optimized through a set of standardized practices.