Exam 2

Question 1

2 Types of research in Quality of Life

Answer 1

1. subjective - life satisfaction or happiness
2. objective approach - social indicators and quantitative stats

Question 2

what is QOL?

Answer 2

Quality of Life

Question 3

Legatum Prosperity Index

Answer 3

1. Economy
2. Entrepreneurship
3. Governance
4. Education
5. Health
6. Safety and security
   7.personal freedom
   8.social capital

Question 4

Government services are..

Answer 4

broad and extensive, BUT in poor counties there are spottier government services

Question 5

What is the social responsibility of Government Regarding Business?

Answer 5

1. inflation act of 2022 - medicare, clean energy incentives, and IRS changes
2. TARP - trouble assets relief program (2008) - to bail out banks, insurers, and automakers

Question 6

Imperfections of government activity

Answer 6

• taxes
  -corruption

Question 7

2 types of intervention in markets

Answer 7

1. indirect
2. direct

Question 8

government direct market intervention

Answer 8

operates the markets themselves, subsidies and tax breaks, owns business in key areas like energy, transportation
(i.e - russia, china)

Question 9

government indirect intervention in markets

Answer 9

R & D, and support of education system

Question 10

unconstrained political views

Answer 10

liberal
- humans are willing to care for others
- open to new experiences
- tolerance and diversity

Question 11

constrained political views

Answer 11

conservative - views human nature darkly, sees human as self-motivated

Question 12

Who is Bob Inglis?

Answer 12

2015 profile in courage winner

Question 13

modern government focuses on QOL more than

Answer 13

businesses (i.e. the Fukushima disaster)

Question 14

the boundaries btw businesses and the government are gray

Answer 14

i.e. - GM and Chrysler bailouts 2009

Question 15

benefits of globalization

Answer 15

more choices and lower prices

Question 16

costs to globalization

Answer 16

inequities, low wages, pollution, overconsumption, criminal trafficking, illegal drugs, human slaves

Question 17

Reckitt Benkiser

Answer 17

firm with global culture (UK based, health & home products)

Question 18

Globalists - for globalization!

Answer 18

Thomas L. Friedman
- thinks globalization replaced the cold war
- globalization is 3 things: markets, nation-states, technologies

Question 19

anti-globalists

Answer 19

1. William Kilbourne (macro marketer)
   - thinks it’s neo liberalism that applied to the world
2. Joseph Stiglitz (economist)
   - think trade liberalization shouldn’t be governments responsibility
   - thinks government should promote: equity, employment, trade reforms

Question 20

semi - globalists

Answer 20

1. Thomas P. Barnett (social critic)
   - globalization should be extended everywhere
   - core vs. gap counties (strong vs. weak globalization)
2. Pankaj Ghemawat
   - thinks current world state is globalization

Question 21

5 global flows

Answer 21

1. goods/services
2. energy
3. financial
   4.security
4. people

Question 22

Globalization “top down” phenomenon

Answer 22

(current) the global market undermines national sovereignty and democratic choice is constrained to trivial matters

Question 23

globalization “bottom up” phenomenon

Answer 23

i.e. CA college students protest worker wages in china

Question 24

“snowbalization” after COVID

Answer 24

• rethought global supply chain, re-did trade deals, and there is more regionalism and nationalism

Question 25

Wars of Globalization

Answer 25

1. illegal trafficking 2.corruption 3.geopolitics

Question 26

Who was Bill Roady?

Answer 26

CEO of MTV, created a large global network and he focused on the importance of relationships

Question 27

Consumers see global brands as offering:

Answer 27

1. quality 2. global identity 3.social responsibility

Question 28

What is the driving factor of market dynamism?

Answer 28

changing consumer preferences ("me" vs. "we")

Question 29

"ME" Dimension

Answer 29

Money is the driving force john D. Rockefeller - one of the first billionaires (just a little more)

Question 30

Who is Paul Stiles?

Answer 30

social critic and author of "is the American Dream killing you?" - "more is better"

Question 31

The Domination Social Paradigm (DSP)

Answer 31

society's belief that organizes how people perceive the world around them - after WW1 the west became very material focused

Question 32

What is Success?

Answer 32

earned success, knowing you've created value in you/others life - Arthur C. Brooks - Harvard

Question 33

Voluntary Simplicity

Answer 33

downshifters - seek less stressful way of living, left "earn and spend" cycle ethical simplifiers - move to simple lifestyles of E&S reasons

Question 34

"WE" in todays market

Answer 34

Jack Johnson - singer w/ a strong fan community, trade tickets, car-pooling, concert feedback

Question 35

Collaborative Consumption

Answer 35

sharing, bartering, lending, trading, gifting, swapping

Question 36

Opposing Phenomena

Answer 36

consumer vulnerability -healthcare consumer empowerment - networking to increase amount of choice

Question 37

The Environmental Imperative - Philip Kotler

Answer 37

1. climate change 2. ozone layer depletion 3. soil degradation and increased desertification 4. increased air and water pollution 5. less fresh water available 6. increasing depletion of natural recourses

Question 38

In order for firms to achieve sustainability...

Answer 38

executives pay packages must change and leaders must show economic and environmental sustainability success

Question 39

2 Macro marketing Schools of Thought

Answer 39

1. developmental school 2. the critical school

Question 40

The developmental school of thought

Answer 40

- views markets as the best way for economic growth, human development, and QOL - markets are part of sustainability solution

Question 41

The Critical School of Thought

Answer 41

- thinks markets and marketing are part of the issue - thinks we're too based on materialism and status consumer needs

Question 42

Individual vs. Systems

Answer 42

I-frame vs. S - frame

Question 43

Ethical Concepts

Answer 43

1. citizenship - being responsible to society 2. stewardship - being responsible to others 3.honesty - being forthright in dealings 4. responsibility - accept consequences 5. fairness - to balance different needs 6. respect - acknowledge human dignity 7. transparency - spirit of openness

Question 44

Paradox of Sustainable Marketing

Answer 44

Profits vs. Service to Others

Question 45

New Belgium Brewing

Answer 45

integrates employees into company management - transparency - inclusiveness

Question 46

New Belgium Brewing Mission Statement

Answer 46

1. Lovingly care for the planet that sustains us. 2. Honor natural resources by closing the loops between waste and input. 3. Minimize the environmental impact of shipping our beer. 4. Reduce our dependence on coal-fired electricity. 5. Protect our precious Rocky Mountain water resources. 6. Focus our efforts on conservation and efficiency. 7. Support innovative technology. 8. Model joyful environmentalism through our commitment to relationships, continuous improvement, and the camaraderie and cheer of beer