GB 350 TEST 1 QUESTIONS AND
ANSWERS
Organizations with _______ philosophies/orientations focus on short-term
transactions, while organizations with _______ philosophies/orientations focus on
building long-term relationships with customers. - ANSWER-sales ; market
The Baldrige Performance Excellence Award is granted to organizations that exhibit
a ______ perspective. - ANSWER-total business
A SBU's marketing planning will depend on marketing planning from other SBU's
within an organization. - ANSWER-FALSE
What are characteristics of a good marketing objective? - ANSWER-realistic,
measurable, time specific, & compared to a benchmark
A _______ competitive advantage can't be copied by the competition. - ANSWER-
Sustainable
What are the components of the implantation phase of a marketing plan? -
ANSWER-establishing timelines, establishing budgets, & gaining acceptance from
those involved
Market Penetration - ANSWER-increase market share of existing offerings among
existing customers
Product Development - ANSWER-develop new offerings to create value for existing
customers
Market Development - ANSWER-attract new customers to existing offerings
Diversification - ANSWER-develop new offerings to create value for new markets
What is a reason why an organization or industry would self-regulate? - ANSWER-
avoid future legal intervention
Benefit (B) corporations are a legal form of organization that allow companies to... -
ANSWER-balance economic goals with social and/or environmental goals
What are factors influencing employees' tendencies to behave unethically? -
ANSWER-potential magnitude of the consequences; social consensus; top
management's action on ethics
The Federal Trade Commission has ______ bureaus - ANSWER-three
ANSWERS
Organizations with _______ philosophies/orientations focus on short-term
transactions, while organizations with _______ philosophies/orientations focus on
building long-term relationships with customers. - ANSWER-sales ; market
The Baldrige Performance Excellence Award is granted to organizations that exhibit
a ______ perspective. - ANSWER-total business
A SBU's marketing planning will depend on marketing planning from other SBU's
within an organization. - ANSWER-FALSE
What are characteristics of a good marketing objective? - ANSWER-realistic,
measurable, time specific, & compared to a benchmark
A _______ competitive advantage can't be copied by the competition. - ANSWER-
Sustainable
What are the components of the implantation phase of a marketing plan? -
ANSWER-establishing timelines, establishing budgets, & gaining acceptance from
those involved
Market Penetration - ANSWER-increase market share of existing offerings among
existing customers
Product Development - ANSWER-develop new offerings to create value for existing
customers
Market Development - ANSWER-attract new customers to existing offerings
Diversification - ANSWER-develop new offerings to create value for new markets
What is a reason why an organization or industry would self-regulate? - ANSWER-
avoid future legal intervention
Benefit (B) corporations are a legal form of organization that allow companies to... -
ANSWER-balance economic goals with social and/or environmental goals
What are factors influencing employees' tendencies to behave unethically? -
ANSWER-potential magnitude of the consequences; social consensus; top
management's action on ethics
The Federal Trade Commission has ______ bureaus - ANSWER-three
