GB 350 FINAL EXAM QUESTIONS AND
ANSWERS
Janice purchases boots that are 30% off on sale at a local clothing retailer that
promotes a 30-day return policy. Jane does not like the boots when she gets home and
tries them with her other clothes. She returns the boots to the retailer, but the customer
service employee says the 30-day return policy does not apply to sale items. Jane is
furious that this information was not provided to her at the time of purchase. What
condition for exchange did the retailer not meet? - Correct Answers -Market penetration
A clothing store employee is helping a customer choose a professional outfit for an
upcoming interview. While talking about the items she recommends, the employee
focuses on the benefits that customers can get from wearing the outfit--not worrying
about wrinkled clothing and being able to wear it during any weather season--instead of
simply listing product features--material type and designer. By using this approach, the
employee is avoiding ___________, which she realizes is not the most effective way to
sell the product. - Correct Answers -Marketing myopia
Companies with sales orientations/philosophies tend to rely on aggressive promotional
techniques instead of developing long-term relationships with customers. - Correct
Answers -false
Organizations who win the prestigious Baldrige Award are recognized for approaching
marketing with a _____________ perspective. - Correct Answers -total business
Many Amazon sellers offer two different ways for customers to purchase products: a
one-time purchase or a monthly subscription at a discounted rate. What customer stage
would the subscription option be seeking to optimize? - Correct Answers -retention
Post Up is a company that sells personalized stationery and thank-you notes. Post Up
emails customers with accounts to announce a new product in the company's lineup:
self-inking return address stamps. By letting existing customers know about a new
product that they might like, Post Up is seeking to optimize which customer process? -
Correct Answers -expansion
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? - Correct Answers
-market
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 __________________. - Correct Answers -Cause related
marketing
Companies should avoid self-regulating unless federal law requires them to. - Correct
Answers -false
Which of the following is in place to protect children's privacy online? - Correct Answers
-The Children's Online Privacy Protection Act (COPPA)
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? - Correct Answers -societal marketing
Which of the following is an obstacle that organizations with societal orientations might
face, according to the lecture? Select all that apply. - Correct Answers -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. - Correct Answers -create value
Which of the following statements BEST includes all of the criteria for good marketing
objectives? - Correct Answers --realistic-measurable -time specific -compared to a
benchmark
Strategic planning should only happen once a year to conserve organizational
resources. - Correct Answers -false
**should be ongoing
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 _______ - Correct Answers -stars
**theyre at the top **
Which of the following is a characteristic of strategic business units (SBUs)? - Correct
Answers -- Distinct in mission and target
o Control over resources its own competitors
o A single business or a collection of related businesses
ANSWERS
Janice purchases boots that are 30% off on sale at a local clothing retailer that
promotes a 30-day return policy. Jane does not like the boots when she gets home and
tries them with her other clothes. She returns the boots to the retailer, but the customer
service employee says the 30-day return policy does not apply to sale items. Jane is
furious that this information was not provided to her at the time of purchase. What
condition for exchange did the retailer not meet? - Correct Answers -Market penetration
A clothing store employee is helping a customer choose a professional outfit for an
upcoming interview. While talking about the items she recommends, the employee
focuses on the benefits that customers can get from wearing the outfit--not worrying
about wrinkled clothing and being able to wear it during any weather season--instead of
simply listing product features--material type and designer. By using this approach, the
employee is avoiding ___________, which she realizes is not the most effective way to
sell the product. - Correct Answers -Marketing myopia
Companies with sales orientations/philosophies tend to rely on aggressive promotional
techniques instead of developing long-term relationships with customers. - Correct
Answers -false
Organizations who win the prestigious Baldrige Award are recognized for approaching
marketing with a _____________ perspective. - Correct Answers -total business
Many Amazon sellers offer two different ways for customers to purchase products: a
one-time purchase or a monthly subscription at a discounted rate. What customer stage
would the subscription option be seeking to optimize? - Correct Answers -retention
Post Up is a company that sells personalized stationery and thank-you notes. Post Up
emails customers with accounts to announce a new product in the company's lineup:
self-inking return address stamps. By letting existing customers know about a new
product that they might like, Post Up is seeking to optimize which customer process? -
Correct Answers -expansion
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? - Correct Answers
-market
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 __________________. - Correct Answers -Cause related
marketing
Companies should avoid self-regulating unless federal law requires them to. - Correct
Answers -false
Which of the following is in place to protect children's privacy online? - Correct Answers
-The Children's Online Privacy Protection Act (COPPA)
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? - Correct Answers -societal marketing
Which of the following is an obstacle that organizations with societal orientations might
face, according to the lecture? Select all that apply. - Correct Answers -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. - Correct Answers -create value
Which of the following statements BEST includes all of the criteria for good marketing
objectives? - Correct Answers --realistic-measurable -time specific -compared to a
benchmark
Strategic planning should only happen once a year to conserve organizational
resources. - Correct Answers -false
**should be ongoing
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 _______ - Correct Answers -stars
**theyre at the top **
Which of the following is a characteristic of strategic business units (SBUs)? - Correct
Answers -- Distinct in mission and target
o Control over resources its own competitors
o A single business or a collection of related businesses
