GB 350 EXAM 2 EXAM PREP QUESTIONS
AND ANSWERS 2026 FULL SOLUTION
GUARANTEED SUCCESS
●● •Functional needs.
Answer: ➤•Needs that pertain to the performance of a product or
service
●● •Psychological needs.
Answer: •Needs that pertain to the personal gratification a consumer
needs
•Ex: buying a watch
●● •Internal search for information.
Answer: •Low involvement or routine decisions/purchases
•Familiar with product
•Example: where you do your weekly grocery shopping
●● •External search for information.
Answer: •High involvement, often big purchases
•Not familiar with product
•Example: buying a stove
,●● •Perceived benefits vs. perceived costs.
Answer: •Is it worth the time and effort to search for information about a
product or service?
Example: Buying a car vs. buying a bag of chips
●● Locus of control.
Answer: •one's perceptions about the underlying main causes of events
in his/her life
●● Internal.
Answer: •individuals believe they have more control over the outcomes
of their actions and engage in more search activities
•Example: Merida from Brave, most entrepreneurs
●● External.
Answer: •individuals believe that external factors or fate determine the
outcome of events and don't place an emphasis on gathering information
•Example: Students who believe their grades are due to luck or
circumstance
●● Performance risk.
Answer: •one is concerned that a product will not perform well
, •Example: Magic Bullet Blender
●● Financial risk.
Answer: •one is concerned that a product costs too much initially and/or
down the road
•Examples: trendy purses and dry clean only clothing
●● Social risk.
Answer: •one is concerned that others might not regard their purchases
positively
•Examples: purchasing feminine products, purchasing lots of cheap
alcohol in bulk
●● Physiological/safety risk.
Answer: •fear that a product might cause bodily harm if it does not
perform properly
•Example: Takata airbags
●● Psychological risk.
Answer: •has to do with the way a product/service will make you feel if
it does not convey the right image
•Leads to "bigger is better" thinking
•Example: Ugly car
AND ANSWERS 2026 FULL SOLUTION
GUARANTEED SUCCESS
●● •Functional needs.
Answer: ➤•Needs that pertain to the performance of a product or
service
●● •Psychological needs.
Answer: •Needs that pertain to the personal gratification a consumer
needs
•Ex: buying a watch
●● •Internal search for information.
Answer: •Low involvement or routine decisions/purchases
•Familiar with product
•Example: where you do your weekly grocery shopping
●● •External search for information.
Answer: •High involvement, often big purchases
•Not familiar with product
•Example: buying a stove
,●● •Perceived benefits vs. perceived costs.
Answer: •Is it worth the time and effort to search for information about a
product or service?
Example: Buying a car vs. buying a bag of chips
●● Locus of control.
Answer: •one's perceptions about the underlying main causes of events
in his/her life
●● Internal.
Answer: •individuals believe they have more control over the outcomes
of their actions and engage in more search activities
•Example: Merida from Brave, most entrepreneurs
●● External.
Answer: •individuals believe that external factors or fate determine the
outcome of events and don't place an emphasis on gathering information
•Example: Students who believe their grades are due to luck or
circumstance
●● Performance risk.
Answer: •one is concerned that a product will not perform well
, •Example: Magic Bullet Blender
●● Financial risk.
Answer: •one is concerned that a product costs too much initially and/or
down the road
•Examples: trendy purses and dry clean only clothing
●● Social risk.
Answer: •one is concerned that others might not regard their purchases
positively
•Examples: purchasing feminine products, purchasing lots of cheap
alcohol in bulk
●● Physiological/safety risk.
Answer: •fear that a product might cause bodily harm if it does not
perform properly
•Example: Takata airbags
●● Psychological risk.
Answer: •has to do with the way a product/service will make you feel if
it does not convey the right image
•Leads to "bigger is better" thinking
•Example: Ugly car
