Gb 350 Exam Questions with Correct
Answers
Which of the following statements BEST represents how marketers should approach
delighting customers, according to the lectures? - ANSWER-It may be risky to delight
customers in a way that you cannot repeat, because doing so can raise minimum
expectations for satisfaction
Which of the following would NOT be considered consumer behavior, according to
the lectures? - ANSWER-All of these would be considered consumer behavior
Will is looking for a new car that has the following features, used, has leather seats,
and costs less than $30,000. Will visits a car dealership and finds that there is not a
car available but there is a used car with leather seats that costs $35,000 instead.
What type of alternative model did Will use? - ANSWER-Compensatory
ESG marketing involves integrating values about which of the following into an
organization's marketing strategy - ANSWER-Environmental, social, governance
Sherry takes a vacation for one week each year. She enjoys getting away from the
stress of everyday life and relaxing. What kind of value does taking a vacation
provide - ANSWER-Hedonic
A tractor and yard equipment trade association has an annual trade show. For a
$2,000 fee, tractor and yard equipment sellers can set up displays during the show
and talk with yard equipment sellers using by exhibiting their products at the trade
show? - ANSWER-Paid media
The government of Fauna placed a maximum number of 300 tons for coconut oil
imports between July 1, 2020 and September 30, 2020. The government of Fuanas
is using an - ANSWER-Absolute quota
According to the BCG Matrix, Brand/SBus with high market share dominance and
low growth are known as - ANSWER-Cash cows has a high market share in a low
growth market
Marcus changes his linkedin profile from a picture of him wearing casual clothing to a
picture of him wearing a business suit. He does this because he wants potential job
opportunities. What concept is Marcus trying to achieve by changing his picture? -
ANSWER-Desired social self concept
Which of the following would affect the accuracy of sales revenue in the business
analysis phase of the new product development process? - ANSWER-Overall
economic/environmental trends, Newness of the product, Nature of the competition
, Which of the following would NOT be considered a source of new product ideas? -
ANSWER-All of the above: customers, distributors, competitors
Which of the following types of digital media can social media platforms belong to? -
ANSWER-Social media can be owned, paid, and or owned media, depending on the
marketers strategy
When plant based meat companies like beyond meat first entered the market, they
generally charged a high introductory price for their products with the goals of
lowering - ANSWER-Price skimming '
Warby Parker sets a low price in the introductory stages of the market offering $95
prescription glasses,with plans to achieve a large customer base at lower prices
and/or increase prices as product value increases during growth stage of the product
life cycle - ANSWER-Penetration pricing
During the covid-19 pandemic many essential household supplies such as bleach
and toilet paper were - ANSWER-Price gouging
Big Sky, a large commercial airline lowered the prices of its flights in order to drive
out competition, then raising prices again - ANSWER-Predatory pricing
Marcus owns main event, a hair salon in southaven. Marco owns magnificent,
another hair salon is southhaven. Together they decide to charge the same prices
for their services, hoping to split the market without lowering prices. - ANSWER-
Price fixing, which is an illegal practice
Chris is about to purchase a new pair of jeans from an e-commerce retailer. Before
checking out, he notices that the return policy requires the customer to pay for
shipping. His perception relates to _______ justice. - ANSWER-Procedural
When country A's imports from country B are greater than Country A's exports to
country B, County A is experiencing a ______ - ANSWER-Trade deficit
Jane hesitated to get an air fryer because she did not want to learn how to use a
new cooking product. She recently decided to purchase one because all of her
friends have air fryers. Jane would be described as an _____ according to the
lecture? - ANSWER-Later majority adopter
Bob owns an online bakery and believes he can sell 500 muffins a month. Bob is
trying to figure out the minimum price he needs to charge for his muffins in order to
make a profit. This is determining his_____ - ANSWER-Break even price
FNB, a financial service company, opened a new branch in west oxford. The branch
offers the same services as existing FNB locations in Mississippi. Based on this
scenario, what strategic alternative did FNB use by opening the new location? -
ANSWER-Market development
Answers
Which of the following statements BEST represents how marketers should approach
delighting customers, according to the lectures? - ANSWER-It may be risky to delight
customers in a way that you cannot repeat, because doing so can raise minimum
expectations for satisfaction
Which of the following would NOT be considered consumer behavior, according to
the lectures? - ANSWER-All of these would be considered consumer behavior
Will is looking for a new car that has the following features, used, has leather seats,
and costs less than $30,000. Will visits a car dealership and finds that there is not a
car available but there is a used car with leather seats that costs $35,000 instead.
What type of alternative model did Will use? - ANSWER-Compensatory
ESG marketing involves integrating values about which of the following into an
organization's marketing strategy - ANSWER-Environmental, social, governance
Sherry takes a vacation for one week each year. She enjoys getting away from the
stress of everyday life and relaxing. What kind of value does taking a vacation
provide - ANSWER-Hedonic
A tractor and yard equipment trade association has an annual trade show. For a
$2,000 fee, tractor and yard equipment sellers can set up displays during the show
and talk with yard equipment sellers using by exhibiting their products at the trade
show? - ANSWER-Paid media
The government of Fauna placed a maximum number of 300 tons for coconut oil
imports between July 1, 2020 and September 30, 2020. The government of Fuanas
is using an - ANSWER-Absolute quota
According to the BCG Matrix, Brand/SBus with high market share dominance and
low growth are known as - ANSWER-Cash cows has a high market share in a low
growth market
Marcus changes his linkedin profile from a picture of him wearing casual clothing to a
picture of him wearing a business suit. He does this because he wants potential job
opportunities. What concept is Marcus trying to achieve by changing his picture? -
ANSWER-Desired social self concept
Which of the following would affect the accuracy of sales revenue in the business
analysis phase of the new product development process? - ANSWER-Overall
economic/environmental trends, Newness of the product, Nature of the competition
, Which of the following would NOT be considered a source of new product ideas? -
ANSWER-All of the above: customers, distributors, competitors
Which of the following types of digital media can social media platforms belong to? -
ANSWER-Social media can be owned, paid, and or owned media, depending on the
marketers strategy
When plant based meat companies like beyond meat first entered the market, they
generally charged a high introductory price for their products with the goals of
lowering - ANSWER-Price skimming '
Warby Parker sets a low price in the introductory stages of the market offering $95
prescription glasses,with plans to achieve a large customer base at lower prices
and/or increase prices as product value increases during growth stage of the product
life cycle - ANSWER-Penetration pricing
During the covid-19 pandemic many essential household supplies such as bleach
and toilet paper were - ANSWER-Price gouging
Big Sky, a large commercial airline lowered the prices of its flights in order to drive
out competition, then raising prices again - ANSWER-Predatory pricing
Marcus owns main event, a hair salon in southaven. Marco owns magnificent,
another hair salon is southhaven. Together they decide to charge the same prices
for their services, hoping to split the market without lowering prices. - ANSWER-
Price fixing, which is an illegal practice
Chris is about to purchase a new pair of jeans from an e-commerce retailer. Before
checking out, he notices that the return policy requires the customer to pay for
shipping. His perception relates to _______ justice. - ANSWER-Procedural
When country A's imports from country B are greater than Country A's exports to
country B, County A is experiencing a ______ - ANSWER-Trade deficit
Jane hesitated to get an air fryer because she did not want to learn how to use a
new cooking product. She recently decided to purchase one because all of her
friends have air fryers. Jane would be described as an _____ according to the
lecture? - ANSWER-Later majority adopter
Bob owns an online bakery and believes he can sell 500 muffins a month. Bob is
trying to figure out the minimum price he needs to charge for his muffins in order to
make a profit. This is determining his_____ - ANSWER-Break even price
FNB, a financial service company, opened a new branch in west oxford. The branch
offers the same services as existing FNB locations in Mississippi. Based on this
scenario, what strategic alternative did FNB use by opening the new location? -
ANSWER-Market development
