GB 350 ACTUAL EXAM QUESTIONS AND
COMPLETE STUDY GUIDE 2026
▶ Self-regulation. Answer: A business's voluntary (not required by law)
efforts to preserve civil society
- Foster consumer trust and confidence
- Avoid future legal intervention
▶ ESG Marketing. Answer: Integrating ESG (Environmental, Social, &
Governance) values into the organization and marketing strategy
▶ Conscious Consumerism. Answer: The practice of making purchasing
decisions that align with personal ethical, environmental, and social values,
aiming to create positive change through buying power
▶ B-corps. Answer: Expand the obligations of boards, requiring them to
consider environmental and social factors, as well as the financial interests
of shareholders. This gives directors and officers the legal protection to
pursue a mission and consider the impact their business has on society
and the environment
▶ Code of ethics/company culture. Answer: codes (implied or written) of
acceptable conduct, often founded on morals, whether one's own and/or
the collective group
▶ International Trade Concepts. Answer: - GDP: the total market value of
all final economic output for a country for a given period
- Global marketing: marketing that targets markets throughout the world
- Global vision: recognizing and reacting to international marketing
opportunities, using effective global marketing strategies, and being aware
of threats from foreign competitors in all markets
▶ Methods of entering the international marketplace. Answer: - Exporting
- Licensing and Franchising
- Contract Manufacturing
- Joint Ventures
- Direct Investment
, ▶ Factors influencing decision to enter into/performance in international
trade. Answer: - Culture
− Economic development
− The global economy
− Political structure and actions
− Demographic makeup
− Natural resources
▶ Consumer Behavior. Answer: "the study of consumers and the
processes they use to choose, use (consume), and dispose of products
and services, including consumers' emotional, mental, and behavioral
responses"
▶ Value Types. Answer: - Perceived value (a) - the net worth (benefits -
costs) a consumer expects toobtain from a decision (e.g., purchase)
- Derived Value (b): Consumers' evaluations of net worth that results from
the decision
− Utilitarian value - a value derived from a product or service that helps
theconsumer solve problems and accomplish tasks
- Hedonic value - a value that acts as an end in itself rather than as a
means to an end
▶ • Consumer decision-making process. Answer: 1. need recognition
2. information search
3. evaluation of alternatives
4. purchase
5. post decision behavior
▶ Information search. Answer: - Internal information search: Recalling past
information stored in the memory
▪ previous experiences, memories of marketing efforts, current knowledge
base
- External information search: Seeking information in the outside
environment when internal information search does not produce sufficient
alternatives
− Non-marketing-controlled information source (a)
▪ Product information source that is not associated with promotion
▪ Typically viewed as more credible than marketing-controlled
− Marketing-controlled information source (b)
COMPLETE STUDY GUIDE 2026
▶ Self-regulation. Answer: A business's voluntary (not required by law)
efforts to preserve civil society
- Foster consumer trust and confidence
- Avoid future legal intervention
▶ ESG Marketing. Answer: Integrating ESG (Environmental, Social, &
Governance) values into the organization and marketing strategy
▶ Conscious Consumerism. Answer: The practice of making purchasing
decisions that align with personal ethical, environmental, and social values,
aiming to create positive change through buying power
▶ B-corps. Answer: Expand the obligations of boards, requiring them to
consider environmental and social factors, as well as the financial interests
of shareholders. This gives directors and officers the legal protection to
pursue a mission and consider the impact their business has on society
and the environment
▶ Code of ethics/company culture. Answer: codes (implied or written) of
acceptable conduct, often founded on morals, whether one's own and/or
the collective group
▶ International Trade Concepts. Answer: - GDP: the total market value of
all final economic output for a country for a given period
- Global marketing: marketing that targets markets throughout the world
- Global vision: recognizing and reacting to international marketing
opportunities, using effective global marketing strategies, and being aware
of threats from foreign competitors in all markets
▶ Methods of entering the international marketplace. Answer: - Exporting
- Licensing and Franchising
- Contract Manufacturing
- Joint Ventures
- Direct Investment
, ▶ Factors influencing decision to enter into/performance in international
trade. Answer: - Culture
− Economic development
− The global economy
− Political structure and actions
− Demographic makeup
− Natural resources
▶ Consumer Behavior. Answer: "the study of consumers and the
processes they use to choose, use (consume), and dispose of products
and services, including consumers' emotional, mental, and behavioral
responses"
▶ Value Types. Answer: - Perceived value (a) - the net worth (benefits -
costs) a consumer expects toobtain from a decision (e.g., purchase)
- Derived Value (b): Consumers' evaluations of net worth that results from
the decision
− Utilitarian value - a value derived from a product or service that helps
theconsumer solve problems and accomplish tasks
- Hedonic value - a value that acts as an end in itself rather than as a
means to an end
▶ • Consumer decision-making process. Answer: 1. need recognition
2. information search
3. evaluation of alternatives
4. purchase
5. post decision behavior
▶ Information search. Answer: - Internal information search: Recalling past
information stored in the memory
▪ previous experiences, memories of marketing efforts, current knowledge
base
- External information search: Seeking information in the outside
environment when internal information search does not produce sufficient
alternatives
− Non-marketing-controlled information source (a)
▪ Product information source that is not associated with promotion
▪ Typically viewed as more credible than marketing-controlled
− Marketing-controlled information source (b)
