GB 350 Final Exam Questions with Complete Solutions

GB 350 Final Exam Questions with
Complete Solutions
Whenever Max needs toothpaste, he buys the Colgate brand with whitening
ingredients at a local retailer. Max does not dedicate much effort to his toothpaste
purchases, and they would be considered ____________ decision making.

1. Limited
2. Extensive
3. Organic
4. Routine - ANSWER-4. Routine

Glossier, a cosmetics brand, opened its fifth U.S. store in Washington D.C., in July
2022. When it opened, the Washington, D. C., location would...

1. be considered new because it was new to this Washington, D.C., market.
2. be considered a product line contraction
3. not be considered new because Glossier already had other locations
4. only be considered new if the Washington, D.C., store offered different products -
ANSWER-1. be considered new because it was new to this Washington, D.C.,
market.

The government of Fauna placed a maximum number of 300 tons for coconut oil
imports between July 1 - September 2024. The government of Fauna is using a(n)
___________________ in this scenario

1. lock system
2. embargo
3. tariff rate quota
4. Absolute Quota - ANSWER-4. Absolute Quota

Which of the following types of digital media can social media belong to?

1. owned
2. paid
3. earned
4. Social media can be owned, paid, and/or earned media, depending on the
marketer's strategy - ANSWER-4. Social media can be owned, paid, and/or earned
media, depending on the marketer's strategy

Mark Tritton was the CEO of Bed, Bath, & Beyond (BBB) until summer 2022. Tritton
pushed BBB to launch private label brands because they were very successful at
Target when he was an executive there. The strategy failed at BBB because Tritton
focused on what worked in the past instead of what customers wanted: well-known

, national brands. Under Tritton's leadership, BBB exhibited a
_______________________ orientation/philosophy.

1. sales
2. market
3. societal
4. production - ANSWER-4. production

T-shirts for teens sells 4 different shirt designs: tie-dyed, solid, striped, and
checked.... Which of the following statements is correct?

1. T shirts for teens designs offerings relate to internal positioning and each design is
aimed at a unique segment
2. T shirts for teens designs offerings relate to external positioning and each design
is aimed at a ...
3. T shirts for teens designs offerings relate to external positioning and each design
is aimed at a ...
4. T shirts for teens designs offerings relate to internal positioning and each design is
aimed at a ... - ANSWER-1. T shirts for teens designs offerings relate to internal
positioning and each design is aimed at a unique segment

According to the BCG Matrix, brands/SBUs with low market share dominance and
low growth are known as

1. cash cows
2. stars
3. dogs
4. problem children/question marks - ANSWER-3. dogs

Home Stay is a U.S.-based hotel brand with locations in the U.S. and Canada.
Canadian Home Stay locations are operated by Canadian managers/owners who
pay a fee to the company for the right to operate under the Home Stay name and
business model. Which method of international market entry is best described in this
scenario?

1. licensing
2. direct investment
3. contract manufacturing
4. importing - ANSWER-1. licensing

Bob owns an online bakery, and he does not think he can charge more than $2 for
his muffins. he is trying to figure out how many muffins he will need to sell at $2 in
order to begin making a profit. In other words Bob is trying to determine his
________.

1. variable price
2. break-even point
3. fixed price
4. break-even price - ANSWER-4. break-even price