GB 350 Final Exam Study Guide Key
Marketing Concepts Questions and
Answers
Self-regulation - ANSWER-When businesses make their own rules to stay ethical
without government forcing them.
ESG & conscious consumerism - ANSWER-ESG = Environmental, Social, and
Governance; conscious consumers care about these things when choosing brands.
B-corps - ANSWER-Businesses certified for being socially and environmentally
responsible.
Code of ethics/company culture - ANSWER-The company's rules and values that
guide behavior.
International trade concepts - ANSWER-Basic ideas like GDP (total value of
goods/services a country makes).
Methods of entering the international marketplace - ANSWER-Ways to sell in other
countries (exporting, partnering, building stores).
Factors influencing trade decisions - ANSWER-Things like culture, politics, and
economy that affect doing business globally.
Consumer behavior - ANSWER-How people make decisions about what to buy.
Value types - ANSWER-Derived value = indirect benefit; Utilitarian value = practical
use.
Consumer decision-making process - ANSWER-Steps people take when choosing
what to buy—need, search, compare, buy, evaluate.
Information search - ANSWER-Looking for info before buying.
Alternative evaluation - ANSWER-Comparing options.
Expectations continuum - ANSWER-Whether a product meets, exceeds, or fails
expectations.
Post-decision processes/Equity theory - ANSWER-How people feel after a purchase;
they compare what they got vs. what they gave.
Marketing Concepts Questions and
Answers
Self-regulation - ANSWER-When businesses make their own rules to stay ethical
without government forcing them.
ESG & conscious consumerism - ANSWER-ESG = Environmental, Social, and
Governance; conscious consumers care about these things when choosing brands.
B-corps - ANSWER-Businesses certified for being socially and environmentally
responsible.
Code of ethics/company culture - ANSWER-The company's rules and values that
guide behavior.
International trade concepts - ANSWER-Basic ideas like GDP (total value of
goods/services a country makes).
Methods of entering the international marketplace - ANSWER-Ways to sell in other
countries (exporting, partnering, building stores).
Factors influencing trade decisions - ANSWER-Things like culture, politics, and
economy that affect doing business globally.
Consumer behavior - ANSWER-How people make decisions about what to buy.
Value types - ANSWER-Derived value = indirect benefit; Utilitarian value = practical
use.
Consumer decision-making process - ANSWER-Steps people take when choosing
what to buy—need, search, compare, buy, evaluate.
Information search - ANSWER-Looking for info before buying.
Alternative evaluation - ANSWER-Comparing options.
Expectations continuum - ANSWER-Whether a product meets, exceeds, or fails
expectations.
Post-decision processes/Equity theory - ANSWER-How people feel after a purchase;
they compare what they got vs. what they gave.
