GB 350 FINAL EXAM REVIEW EXAM 2
QUESTIONS AND ANSWERS
- Correct Answers -Kenya is taking 15 hours of college courses this semester. She does
not enjoy some of her coursework, but she knows that it is required in order to finish her
degree. What kind of value does Kenya receive from doing her coursework?
inert set - Correct Answers -Charlene is taking her little sister to the movies and is trying
to decide which movie to see. Her options include a scary movie, an animated fairytale,
and a comedy. Charlene likes scary movies but believes her sister is too young to watch
this one. Based on this scenario, the scary movie is in Charlene's _______.
inert set - Correct Answers -Charlene plans to take her little sister to the movies across
town because she does not know about a new theater near her neighborhood. Based
on this scenario, the new theater is in Charlene's ________.i
People or organizations that have...-Needs and wants that can be satisfied by an
organization's products/services-Ability to buy products/services-Willingness to buy
products/services - Correct Answers -Which of the following is characteristic of a
market, based on the lectures?
promotion - Correct Answers -Even though the chances of winning the lottery are really
low (around 1 in 14 million), Jackie purchases lottery tickets each week because
winning the $300m jackpot would be great. Jackie exhibits a
______________________ regulatory focus.
procedural - Correct Answers -Oscar is dining at his favorite restaurant in town. When
he gets the bill, Oscar notices that the restaurant now has a policy that automatically
charges a 15% tip on all meals. Oscar does not think it is fair for the restaurant to
require all patrons to pay a fixed tip percentage. His perceptions relate to
_____________________ justice.
procedural justice - Correct Answers -Brandt is about to purchase a new dining room
table from an e-commerce retailer. Before checking out, he notices that the return policy
requires the customer to pay for shipping on returned items. Brandt does not think it is
fair for the retailer to charge customers for return shipping. His perceptions relate to
_____________________ justice.
, cannibalization - Correct Answers -____________________ is a risk associated with
differentiated/multi-segment targeting that occurs when customer demand shifts from
one marketer's product to another of the same marketer's products instead of
generating additional/incremental revenues.
percieved - Correct Answers -Maria is planning to buy her next car from a local
dealership because she expects to get great service from businesses in her home town.
Expecting great service represents Maria's __________ value of the local dealership.
Trade defcit - Correct Answers -When Country A's imports from Country B are greater
than Country A's exports to Country B, Country A is experiencing a _____________.
Hedonic - Correct Answers -Xavier tries to go see live music as much as he can. He
also enjoys discovering new local artists. What type of value does seeing live music and
discovering new local artists provide to Xavier?
absolute quota - Correct Answers -The government of Fauna placed a maximum
number of 300 tons for coconut oil imports between July 1, 2020 and September 30,
2020. The government of Fauna is using a(n) _______________________ in this
scenario.
- Correct Answers -Content streaming services Netflix and Prime Video offer a feature
that allows customers to skip recaps of the previous series episode and the opening
credits. Using the skip feature to fast forward to the beginning of the current episode
best reflects which of the following?
socialization - Correct Answers -Zack's parents have always purchased lower-priced
store brands of certain products, such as granulated sugar or cooking spices, in order to
avoid spending money on premium brands that they believe are exactly the same but
more expensive. As an adult, Zack purchases lower-priced store brands for this reason.
The passing down of his parents values to Zack represents the process of
_____________.
- Correct Answers -Carmen's Coolers sells ice coolers in 5 colors: black, pink, gray,
navy blue, and green. Based on this scenario and the lectures, which of the following
statements is correct?
exchange rate - Correct Answers -_______________ refers to the value of one nation's
currency expressed in the form of another nation's currency.
economic conditions - Correct Answers -According to the lecture, which of the following
is NOT a cultural factor that international marketers must consider?
differentiated - Correct Answers -Happy Kids is a company that sells products and
services for children. Happy Kids offers clothing for parents seeking cute children's
outfits, books for parents who want to read with their children, and a meal planning
QUESTIONS AND ANSWERS
- Correct Answers -Kenya is taking 15 hours of college courses this semester. She does
not enjoy some of her coursework, but she knows that it is required in order to finish her
degree. What kind of value does Kenya receive from doing her coursework?
inert set - Correct Answers -Charlene is taking her little sister to the movies and is trying
to decide which movie to see. Her options include a scary movie, an animated fairytale,
and a comedy. Charlene likes scary movies but believes her sister is too young to watch
this one. Based on this scenario, the scary movie is in Charlene's _______.
inert set - Correct Answers -Charlene plans to take her little sister to the movies across
town because she does not know about a new theater near her neighborhood. Based
on this scenario, the new theater is in Charlene's ________.i
People or organizations that have...-Needs and wants that can be satisfied by an
organization's products/services-Ability to buy products/services-Willingness to buy
products/services - Correct Answers -Which of the following is characteristic of a
market, based on the lectures?
promotion - Correct Answers -Even though the chances of winning the lottery are really
low (around 1 in 14 million), Jackie purchases lottery tickets each week because
winning the $300m jackpot would be great. Jackie exhibits a
______________________ regulatory focus.
procedural - Correct Answers -Oscar is dining at his favorite restaurant in town. When
he gets the bill, Oscar notices that the restaurant now has a policy that automatically
charges a 15% tip on all meals. Oscar does not think it is fair for the restaurant to
require all patrons to pay a fixed tip percentage. His perceptions relate to
_____________________ justice.
procedural justice - Correct Answers -Brandt is about to purchase a new dining room
table from an e-commerce retailer. Before checking out, he notices that the return policy
requires the customer to pay for shipping on returned items. Brandt does not think it is
fair for the retailer to charge customers for return shipping. His perceptions relate to
_____________________ justice.
, cannibalization - Correct Answers -____________________ is a risk associated with
differentiated/multi-segment targeting that occurs when customer demand shifts from
one marketer's product to another of the same marketer's products instead of
generating additional/incremental revenues.
percieved - Correct Answers -Maria is planning to buy her next car from a local
dealership because she expects to get great service from businesses in her home town.
Expecting great service represents Maria's __________ value of the local dealership.
Trade defcit - Correct Answers -When Country A's imports from Country B are greater
than Country A's exports to Country B, Country A is experiencing a _____________.
Hedonic - Correct Answers -Xavier tries to go see live music as much as he can. He
also enjoys discovering new local artists. What type of value does seeing live music and
discovering new local artists provide to Xavier?
absolute quota - Correct Answers -The government of Fauna placed a maximum
number of 300 tons for coconut oil imports between July 1, 2020 and September 30,
2020. The government of Fauna is using a(n) _______________________ in this
scenario.
- Correct Answers -Content streaming services Netflix and Prime Video offer a feature
that allows customers to skip recaps of the previous series episode and the opening
credits. Using the skip feature to fast forward to the beginning of the current episode
best reflects which of the following?
socialization - Correct Answers -Zack's parents have always purchased lower-priced
store brands of certain products, such as granulated sugar or cooking spices, in order to
avoid spending money on premium brands that they believe are exactly the same but
more expensive. As an adult, Zack purchases lower-priced store brands for this reason.
The passing down of his parents values to Zack represents the process of
_____________.
- Correct Answers -Carmen's Coolers sells ice coolers in 5 colors: black, pink, gray,
navy blue, and green. Based on this scenario and the lectures, which of the following
statements is correct?
exchange rate - Correct Answers -_______________ refers to the value of one nation's
currency expressed in the form of another nation's currency.
economic conditions - Correct Answers -According to the lecture, which of the following
is NOT a cultural factor that international marketers must consider?
differentiated - Correct Answers -Happy Kids is a company that sells products and
services for children. Happy Kids offers clothing for parents seeking cute children's
outfits, books for parents who want to read with their children, and a meal planning
