It Is the Responsibility of __________ to Determine the Ethical

question 63

Multiple Choice

It is the responsibility of __________ to determine the ethical approach to setting prices so consumers find value and the firm can make a profit.

• A) the Better Business Bureau
• B) federal regulators
• C) the American Marketing Association
• D) marketers themselves
• E) industry standards boards

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Definitions:

Direction

Guidance or supervision provided to perform tasks or to make decisions and progress in activities or objectives.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors.

Maslow's Hierarchy

A psychological theory proposing a five-tier model of human needs, ranging from basic physiological needs to higher-level self-actualization needs, influencing motivation.

Collectivist Societies

Societies that prioritize the group over the individual, emphasizing interdependence, cooperation, and the welfare of the group as a whole.