2025 GB 350 FINAL EXAM FROM THE UNIVERSITY OF MISSISSIPPI (OLE MISS), FEATURING 300 ACCURATE AND VERIFIED QUESTIONS COVERING MARKETING PRINCIPLES, CONSUMER BEHAVIOR, MARKET STRATEGY, AND BRANDING.

2025 GB 350 FINAL EXAM FROM THE UNIVERSITY OF MISSISSIPPI (OLE MISS), FEATURING 300 ACCURATE AND VERIFIED QUESTIONS COVERING MARKETING PRINCIPLES, CONSUMER BEHAVIOR, MARKET STRATEGY, AND BRANDING. The Dyrt offers a campground-finder app for avid campers. The company focuses on determining and optimizing what app features matter the most to their users. In addition, the founder, Sarah Smith, offers $400 bonuses per quarter to any employee who uses the app and provides a field report with recommendations for optimizing the user experience. What kind of orientation/philosophy does The Dyrt have? - ANSWER-market Better Place Brands is a collection of eCommerce coffee and apparel brands. Each brand is associated with a particular dog breed (e.g., Boxy Browns Coffee is associated with boxers). Better Place Brands donates 20% of all product sales to charitable organizations for the namesake dog breed. What type of orientation/philosophy does Better Place Brands have? - ANSWER-societal marketing Which of the following is an obstacle that organizations with societal orientations might face, according to the lecture? Select all that apply. - ANSWER-Meeting customer performance expectations and Justifying premium prices Which of the following is an overall goal of marketing, according to the lectures? Please select all that apply. - ANSWER-create value Which of the following statements BEST includes all of the criteria for good marketing objectives? - ANSWER--realistic-measurable -time specific -compared to a benchmark Strategic planning should only happen once a year to conserve organizational resources. - ANSWER-false **should be ongoing 2 | Page definition of strategic planning: "The ongoing managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities." According to the BCG Matrix, brand/SBUs with high market share dominance and high growth are known as _______ - ANSWER-stars **theyre at the top ** Which of the following is a characteristic of strategic business units (SBUs)? - ANSWER-- Distinct in mission and target o Control over resources its own competitors o A single business or a collection of related businesses o Plans independently **all these are characteristics, so study all* FNB, a financial services company, opened a new branch in West Oxford. The new branch offers the same services as existing FNB locations in Mississippi. Based on this scenario, which strategy from Ansoff's Opportunity Matrix did FNB use by opening the new branch? - ANSWER-market development A widget producer sells boxes of widgets. All boxes have one dozen widgets each, and customers pay $3.99 per box, regardless of how many boxes they purchase. For example, a business customer who purchases 20 boxes will pay the same amount per box as an individual customer who purchases 1 box. What type of targeting strategy is the widget producer using? - ANSWER-Undifferentiated - appeal to entire market with one strategy Which of the following is part of the Implementation stage of the marketing plan? - ANSWER establishing timelines Companies earn product/service differentiation competitive advantages when they are efficient enough to charge low prices for their products as compared with competitors. - ANSWER-false 3 | Page Consumer Products, Inc. had 3 SBUs: cosmetics, household cleaners, and snacks. The snacks SBU originally included foods and beverages. Recently, the company decided to remove beverages from the snacks SBU to plan more efficiently for foods and beverages separately. Consumer Products, Inc. now has 4 SBUs: cosmetics, household cleaners, snacks, and beverages. Creating a new SBU for beverages represents which strategic action? - ANSWER diversification Impossible Foods reformulated its plant-based meat recipe to offer lower saturated fat and higher protein. Impossible wants to offer existing customers an improved product. Which type of innovation does this scenario describe? - ANSWER-core innovation A local pet products store partners with the Humane Society for a fundraising campaign. For 2 months, the store will donate 5% of all sales proceeds to the Humane Society. This is an example of __________________. - ANSWER-Cause related marketing Companies should avoid self-regulating unless federal law requires them to. - ANSWER-false Which of the following is in place to protect children's privacy online? - ANSWER-The Children's Online Privacy Protection Act (COPPA) Sears filed for bankruptcy in 2018. One reason for Sears's failure was investing too heavily in shopping mall locations because they drew heavy customer traffic in the past, although consumer shopping preferences were moving away from mall stores. Relying on past successes instead of focusing on what customers wanted reflects a _______________________ orientation/philosophy. Production The Dyrt, a campground-finder app provider, focuses on determining app features that matter to users. The Dyrt also offers $400 bonuses to employees who use the app and provide user experience optimization recommendations. What kind of orientation/philosophy does The Dyrt have?