1|Page
GB 350 Final Exam 2025 – Principles of Marketing
Study Guide, Practice Questions & Key Concepts
Prepare for your GB 350 Final Exam with this 2025 updated study guide and practice test.
Review essential marketing concepts, consumer behavior, product strategy, pricing, promotion,
and distribution to master the core principles of marketing and boost your exam score.
GB 350 final exam 2025
GB 350 principles of marketing
University of Alabama GB 350 exam
Marketing final exam study guide
Allyn's office supplies is a manufacturer of mechanical pencils and file folders. Allyn sells mechanical
pencils to walmart at a 20% markup. One week later, allyn sells file folders to miller's local store at an
80% markup. What illegal act could allyn be accused of? - answer-price discrimination
Gant manufacturing has earned a reputation for producing the most reliable widgets the southeastern
united states. Originally, gant sold its products directly to consumers through its website and phone
orders. However, gant quickly realized that it would be more efficient to sell its products retailers, who
would then sell the widgets to consumers. For gant, these retailers offer _____ utility. - answer-exchange
Jamie's discount retailer is trying to compete with walmart by offering a price matching guarantee to its
customers. Basically, if a customer purchases a product from jamie's and finds it is offered a lower price
on the walmart's shelf, that customer can bring a picture of the walmart price and get a refund for the
difference. Under what type of pricing objective category is jamie's operating? - answer-status-quo
pricing objective
,2|Page
Apple just introduced the "ipacemaker" to the medical equipment industry. Financial analysis has
deemed this is a risky move for the $1 billion company who traditionally focuses on making products for
tech savvy consumers. What strategy does this describe? - answer-diversification
The walt disney company hosts a website called the "disney parks mom panel" for parents who have
questions about the different offerings of the disney company. Members of the mom panel are
experienced disney customers who answer questions from site visitors in order to give them relevant
information from a parental point of view, and provide a community atmosphere so visitors can become
more involved with the disney brand, overall. What promotional goal is disney most likely seeking with
the moms panel? - answer-informative promotion
All the following are basic marketing mix decisions except: - answer-product, place (distribution),
promotion, and pricing
Washer/dryer manufactures often offer three-year warranties to customers for additional price. John
does not think that he needs a warranty just because he's buying a new washer and dryer. In john's
opinion, the washer/dryer combo and the warranty have a _____ relationship. - answer-neutral
Mary is purchasing a new washer and dryer at a retailer. Once she has chosen her washer/dryer combo,
the salesperson tells her that is always a good idea to purchase a warranty at an additional charge. The
warranty will cover any repairs to the washer/dryer combo for three years. What type of relationship is a
salesperson trying to create between the washer/dryer combo and the warranty? - answer-
complementary
. Refined inc. Just developed a new dining room table that hangs from the ceiling instead of standing on
four legs. It costs refined $800 to produce each table, and the company would like to make a profit by
charging $1000 market price. However, refined realizes that most consumers are not familiar with
hanging dining room tables, and probably would be willing to pay $1000 for it. Therefore, refined enters
the dining room table market with its hanging tables price at $750/per table, willing to take an early loss
with the hopes of getting customers to purchase and use the product. What type of pricing strategy is
refind using when it enters the market? - answer-penetration pricing
Marx pharmaceutical company recently received fda approval for a new cancer-fighting drug. According
to regulations, this drug is protected by patent for seven years, and cannot be replicated by another
competitor during that time. During those seven years, marx pharmaceutical decides to charge very high
prices for the product in order to recover the costs it incurred to develop and gain approval for the drug.
What type of pricing strategy is marx pharmaceutical using during the seven years? - answer-price
skimming
,3|Page
Jcpenney often run sales on its inventory, offering low prices to get customers through the door. What
type of pricing objective does jcpenney operate under? - answer-sales-oriented pricing objective
Jackfrost makes premium quality riding lawnmowers and has traditionally charged a high price for them
to its retailer customers. Recently, jim freeze has entered the market with an expensive lawnmower, and
retailers have started considering freeze mowers instead of frost mowers. Concerned about keeping his
market share, jack drastically lowers the price of his lawnmowers, and jim freeze leaves the market
because he cannot compete. Once jim is out of the market, jack increases his lawnmower prices back to
where they were. What illegal practice could jack be accused of? - answer-predatory pricing
Unfair trade practices act requires a mandatory markup on products that retailers and wholesalers sell.
These markups are _____ regulations. - answer-legal?
As compared with products, services often are provided and consumed at the same time. What
characteristic of services does this describe? - answer-inseparable
Reality celebrity kim kardashian gets paid to promote a variety of products on instagram. When she
does, she includes a note in the comments stating that it is sponsored content. Which of the following
types of media is kim kardashian posting? - answer-paid media
Chicken-pot-panera, a restaurant chain, ran the advertising campaign claiming that it's menu items were
made with the "freshest ingredients around". A competing restaurant sued chik-pot- panera for making
false claims. What concept best describes what the judge ruled this statement to be? - answer-ftc rules
apply to advertisers making false claims about their own products
. Direct comparison/comparative advertising is legal as long as: - answer-federal rulings prohibit
advertisers from falsely describing competitor's products and
Allow competitors to sue if ads show their products or mention their brand names in an incorrect or
false manner
Often, the goal of persuasive advertising in the growth and maturity phases of the product life cycle is
generating _____ demand. - answer-selective
, 4|Page
. Based on the lectures which of the 4 p's of marketing is the most flexible? - answer-price
Pro-snacks is a new company that makes healthy snack mixes. Upon entering the market, pro- snacks
realized that master snacker, a competitor, was the most commonly chosen brand of snack mix in this
routing buying decision. Based on the lectures, which promotional tool would be best it pro-snacks
wants to find a way into the consideration sets? - answer-advertising and sales promotion
Kellogg's brand often advertises it cereal products to consumers, with the hopes that consumers will
continue to come to retailers to buy the cereal products. What type of promotional strategies
manufacturer using? - answer-advertising, sales promotion, and less personal selling
Mary is watching television one night when an advertisement for a national restaurant comes on. Mary
continues watching, but is distracted by a problem that has been on her mind all day. From the lecture
on the communication process what is happening in this scenario? - answer-transmission is hindered
According to the lectures on integrated marketing communications, what has become one the most
critical decisions in promotional strategy? - answer-media selection
A(n) ___ warrantee is an unwritten guarantee that a good or service is fit for the purpose for which did it
was sold. - answer-implied
From the lectures on consumer behavior, research suggests that customer outrage is most commonly
associated with which type of justice? - answer-distributive?, procedural?, interactional?, all of the
above?
Until recently, streamlined boat company has made two types of boats: fishing boats and pontoon boats.
However, streamlined performed interviews with a sample of its current customers, and found that
many of these customers would be interested in buying speed boats as well. After hearing this,
streamlined decided to make speed boats to sell to its current customers. What type of strategic
alternative from ansoff's matrix does this decision represent? - answer-product development
Johnson tire company, a united states manufacturer, is trying to develop business in a foreign country.
While the potential customers in this foreign country are interested in doing business with johnson tire
company, part of the cultural norms for business practice in that country involved johnson giving money
GB 350 Final Exam 2025 – Principles of Marketing
Study Guide, Practice Questions & Key Concepts
Prepare for your GB 350 Final Exam with this 2025 updated study guide and practice test.
Review essential marketing concepts, consumer behavior, product strategy, pricing, promotion,
and distribution to master the core principles of marketing and boost your exam score.
GB 350 final exam 2025
GB 350 principles of marketing
University of Alabama GB 350 exam
Marketing final exam study guide
Allyn's office supplies is a manufacturer of mechanical pencils and file folders. Allyn sells mechanical
pencils to walmart at a 20% markup. One week later, allyn sells file folders to miller's local store at an
80% markup. What illegal act could allyn be accused of? - answer-price discrimination
Gant manufacturing has earned a reputation for producing the most reliable widgets the southeastern
united states. Originally, gant sold its products directly to consumers through its website and phone
orders. However, gant quickly realized that it would be more efficient to sell its products retailers, who
would then sell the widgets to consumers. For gant, these retailers offer _____ utility. - answer-exchange
Jamie's discount retailer is trying to compete with walmart by offering a price matching guarantee to its
customers. Basically, if a customer purchases a product from jamie's and finds it is offered a lower price
on the walmart's shelf, that customer can bring a picture of the walmart price and get a refund for the
difference. Under what type of pricing objective category is jamie's operating? - answer-status-quo
pricing objective
,2|Page
Apple just introduced the "ipacemaker" to the medical equipment industry. Financial analysis has
deemed this is a risky move for the $1 billion company who traditionally focuses on making products for
tech savvy consumers. What strategy does this describe? - answer-diversification
The walt disney company hosts a website called the "disney parks mom panel" for parents who have
questions about the different offerings of the disney company. Members of the mom panel are
experienced disney customers who answer questions from site visitors in order to give them relevant
information from a parental point of view, and provide a community atmosphere so visitors can become
more involved with the disney brand, overall. What promotional goal is disney most likely seeking with
the moms panel? - answer-informative promotion
All the following are basic marketing mix decisions except: - answer-product, place (distribution),
promotion, and pricing
Washer/dryer manufactures often offer three-year warranties to customers for additional price. John
does not think that he needs a warranty just because he's buying a new washer and dryer. In john's
opinion, the washer/dryer combo and the warranty have a _____ relationship. - answer-neutral
Mary is purchasing a new washer and dryer at a retailer. Once she has chosen her washer/dryer combo,
the salesperson tells her that is always a good idea to purchase a warranty at an additional charge. The
warranty will cover any repairs to the washer/dryer combo for three years. What type of relationship is a
salesperson trying to create between the washer/dryer combo and the warranty? - answer-
complementary
. Refined inc. Just developed a new dining room table that hangs from the ceiling instead of standing on
four legs. It costs refined $800 to produce each table, and the company would like to make a profit by
charging $1000 market price. However, refined realizes that most consumers are not familiar with
hanging dining room tables, and probably would be willing to pay $1000 for it. Therefore, refined enters
the dining room table market with its hanging tables price at $750/per table, willing to take an early loss
with the hopes of getting customers to purchase and use the product. What type of pricing strategy is
refind using when it enters the market? - answer-penetration pricing
Marx pharmaceutical company recently received fda approval for a new cancer-fighting drug. According
to regulations, this drug is protected by patent for seven years, and cannot be replicated by another
competitor during that time. During those seven years, marx pharmaceutical decides to charge very high
prices for the product in order to recover the costs it incurred to develop and gain approval for the drug.
What type of pricing strategy is marx pharmaceutical using during the seven years? - answer-price
skimming
,3|Page
Jcpenney often run sales on its inventory, offering low prices to get customers through the door. What
type of pricing objective does jcpenney operate under? - answer-sales-oriented pricing objective
Jackfrost makes premium quality riding lawnmowers and has traditionally charged a high price for them
to its retailer customers. Recently, jim freeze has entered the market with an expensive lawnmower, and
retailers have started considering freeze mowers instead of frost mowers. Concerned about keeping his
market share, jack drastically lowers the price of his lawnmowers, and jim freeze leaves the market
because he cannot compete. Once jim is out of the market, jack increases his lawnmower prices back to
where they were. What illegal practice could jack be accused of? - answer-predatory pricing
Unfair trade practices act requires a mandatory markup on products that retailers and wholesalers sell.
These markups are _____ regulations. - answer-legal?
As compared with products, services often are provided and consumed at the same time. What
characteristic of services does this describe? - answer-inseparable
Reality celebrity kim kardashian gets paid to promote a variety of products on instagram. When she
does, she includes a note in the comments stating that it is sponsored content. Which of the following
types of media is kim kardashian posting? - answer-paid media
Chicken-pot-panera, a restaurant chain, ran the advertising campaign claiming that it's menu items were
made with the "freshest ingredients around". A competing restaurant sued chik-pot- panera for making
false claims. What concept best describes what the judge ruled this statement to be? - answer-ftc rules
apply to advertisers making false claims about their own products
. Direct comparison/comparative advertising is legal as long as: - answer-federal rulings prohibit
advertisers from falsely describing competitor's products and
Allow competitors to sue if ads show their products or mention their brand names in an incorrect or
false manner
Often, the goal of persuasive advertising in the growth and maturity phases of the product life cycle is
generating _____ demand. - answer-selective
, 4|Page
. Based on the lectures which of the 4 p's of marketing is the most flexible? - answer-price
Pro-snacks is a new company that makes healthy snack mixes. Upon entering the market, pro- snacks
realized that master snacker, a competitor, was the most commonly chosen brand of snack mix in this
routing buying decision. Based on the lectures, which promotional tool would be best it pro-snacks
wants to find a way into the consideration sets? - answer-advertising and sales promotion
Kellogg's brand often advertises it cereal products to consumers, with the hopes that consumers will
continue to come to retailers to buy the cereal products. What type of promotional strategies
manufacturer using? - answer-advertising, sales promotion, and less personal selling
Mary is watching television one night when an advertisement for a national restaurant comes on. Mary
continues watching, but is distracted by a problem that has been on her mind all day. From the lecture
on the communication process what is happening in this scenario? - answer-transmission is hindered
According to the lectures on integrated marketing communications, what has become one the most
critical decisions in promotional strategy? - answer-media selection
A(n) ___ warrantee is an unwritten guarantee that a good or service is fit for the purpose for which did it
was sold. - answer-implied
From the lectures on consumer behavior, research suggests that customer outrage is most commonly
associated with which type of justice? - answer-distributive?, procedural?, interactional?, all of the
above?
Until recently, streamlined boat company has made two types of boats: fishing boats and pontoon boats.
However, streamlined performed interviews with a sample of its current customers, and found that
many of these customers would be interested in buying speed boats as well. After hearing this,
streamlined decided to make speed boats to sell to its current customers. What type of strategic
alternative from ansoff's matrix does this decision represent? - answer-product development
Johnson tire company, a united states manufacturer, is trying to develop business in a foreign country.
While the potential customers in this foreign country are interested in doing business with johnson tire
company, part of the cultural norms for business practice in that country involved johnson giving money
