GB 350 FINAL EXAM QUESTIONS WITH
CORRECT ANSWERS
Chips Ahoy is a chocolate chip cookie producer that purchases and combines cookie
ingredients to create a finished product. What type of utility does Chips Ahoy provide in
the marketing channel? - Correct Answers -form
Jack is thinking about buying an iPhone 10 at the local smartphone store. The frontline
employee he is talking to tells him that it would be a great idea to also purchase an
insurance plan, in case the iPhone is damaged. The technique the frontline employee is
using is _____________. - Correct Answers -suggesting
Retailing decisions for services focus on which of the following? - Correct Answers -all
of the above
Marketing channels overcome time, spatial, quantity, and assortment discrepancies
(i.e., gaps) that arise due to ____________________. - Correct Answers -mass
production
A grocery store has a display promoting items for holiday baking, including brown sugar,
chocolate chips, flour, and cookie decorations. The goal of the display is to encourage
shoppers to pick up multiple items they will need for their baking projects. What concept
is best described in this scenario? - Correct Answers -shopper solution
Which of the following is NOT an element in the Retailing Mix? - Correct Answers -
Palette
Everyday products such as deodorant and paper towels are made available to
customers in many places for purchase. This is an example of _________________
distribution intensity. - Correct Answers -intensive
A large discount retailer is threatening to remove a supplier's products from retail
shelves unless the supplier lowers its product prices. This would be considered an
example of ________________, based on the lecture. - Correct Answers -vertical
conflict
Publix is a grocery retailer with locations around the Southeastern United States. The
company's headquarters is located in Lakeland, Florida, and Publix corporation owns all
of its grocery locations. Publix would best be classified as ______________________,
based on the lecture. - Correct Answers -chain store
, Janelle hesitated to get an air fryer because she did not want to learn how to use a new
cooking product. She recently decided to purchase one because all of her friends have
air fryers, and her brother keeps talking about how much he uses his. Janelle would
best be described as a(n) ________________, according to the lectures. - Correct
Answers -late majority adopter
Mark loves being the first to discover and use new products in the technology industry.
He gets personal value from being in the know, but he does not care about telling other
people about the new products he is using. Mark would best be described as a(n)
__________, according to the lectures. - Correct Answers -inovator
Which of the following would affect the accuracy of sales revenue projections in the
business analysis phase of the new product development process? Select all that apply.
- Correct Answers -- overcome economic/environmental trends
- nature of the competition
-newness of the product
Which of the following BEST reflects ethnocentrism? - Correct Answers -a sales person
for a US based company shakes a japanese customers hand, although. the Japanese
custom is to bow when greeting for business meetings
Many U.S. steel sellers have asked the government to investigate Marquis, a foreign
competitor in the industry. The U.S. steel sellers are accusing Marquis of ___________,
or exporting products to U.S. customers at a price that is lower than prices in its own
home market. - Correct Answers -dumping
Which of the following is NOT a demographic factor that international marketers should
consider? - Correct Answers -language
Some products, such as vintage cars, sell at higher prices today than when they were in
production, even though they have reached the decline phase of the product life cycle.
Why would this be the case? - Correct Answers -niche markets have developed and
supply is limited
Which of the following BEST reflects "customer onboarding", based on the lectures? -
Correct Answers -Hubspot, a provider of search engine optimization software, host
workshops to help new customers use derive value from its products
Which of the following would NOT be considered a source of new product ideas? -
Correct Answers -Distributors, competitors, and customers
Concept tests are typically only conducted after a product prototype has been created. -
Correct Answers -false
CORRECT ANSWERS
Chips Ahoy is a chocolate chip cookie producer that purchases and combines cookie
ingredients to create a finished product. What type of utility does Chips Ahoy provide in
the marketing channel? - Correct Answers -form
Jack is thinking about buying an iPhone 10 at the local smartphone store. The frontline
employee he is talking to tells him that it would be a great idea to also purchase an
insurance plan, in case the iPhone is damaged. The technique the frontline employee is
using is _____________. - Correct Answers -suggesting
Retailing decisions for services focus on which of the following? - Correct Answers -all
of the above
Marketing channels overcome time, spatial, quantity, and assortment discrepancies
(i.e., gaps) that arise due to ____________________. - Correct Answers -mass
production
A grocery store has a display promoting items for holiday baking, including brown sugar,
chocolate chips, flour, and cookie decorations. The goal of the display is to encourage
shoppers to pick up multiple items they will need for their baking projects. What concept
is best described in this scenario? - Correct Answers -shopper solution
Which of the following is NOT an element in the Retailing Mix? - Correct Answers -
Palette
Everyday products such as deodorant and paper towels are made available to
customers in many places for purchase. This is an example of _________________
distribution intensity. - Correct Answers -intensive
A large discount retailer is threatening to remove a supplier's products from retail
shelves unless the supplier lowers its product prices. This would be considered an
example of ________________, based on the lecture. - Correct Answers -vertical
conflict
Publix is a grocery retailer with locations around the Southeastern United States. The
company's headquarters is located in Lakeland, Florida, and Publix corporation owns all
of its grocery locations. Publix would best be classified as ______________________,
based on the lecture. - Correct Answers -chain store
, Janelle hesitated to get an air fryer because she did not want to learn how to use a new
cooking product. She recently decided to purchase one because all of her friends have
air fryers, and her brother keeps talking about how much he uses his. Janelle would
best be described as a(n) ________________, according to the lectures. - Correct
Answers -late majority adopter
Mark loves being the first to discover and use new products in the technology industry.
He gets personal value from being in the know, but he does not care about telling other
people about the new products he is using. Mark would best be described as a(n)
__________, according to the lectures. - Correct Answers -inovator
Which of the following would affect the accuracy of sales revenue projections in the
business analysis phase of the new product development process? Select all that apply.
- Correct Answers -- overcome economic/environmental trends
- nature of the competition
-newness of the product
Which of the following BEST reflects ethnocentrism? - Correct Answers -a sales person
for a US based company shakes a japanese customers hand, although. the Japanese
custom is to bow when greeting for business meetings
Many U.S. steel sellers have asked the government to investigate Marquis, a foreign
competitor in the industry. The U.S. steel sellers are accusing Marquis of ___________,
or exporting products to U.S. customers at a price that is lower than prices in its own
home market. - Correct Answers -dumping
Which of the following is NOT a demographic factor that international marketers should
consider? - Correct Answers -language
Some products, such as vintage cars, sell at higher prices today than when they were in
production, even though they have reached the decline phase of the product life cycle.
Why would this be the case? - Correct Answers -niche markets have developed and
supply is limited
Which of the following BEST reflects "customer onboarding", based on the lectures? -
Correct Answers -Hubspot, a provider of search engine optimization software, host
workshops to help new customers use derive value from its products
Which of the following would NOT be considered a source of new product ideas? -
Correct Answers -Distributors, competitors, and customers
Concept tests are typically only conducted after a product prototype has been created. -
Correct Answers -false
