GB 350 UPDATED TEST PAPERS ANSWERS AND
QUESTIONS SET A+
✔✔Hustle Culture - ✔✔Work work work. That's all you do. Don't stop working and that's
what makes us great.
✔✔Federal Trade Commission - ✔✔Identifies norms for ethical use of consumer
information
✔✔Enforcement protocol - ✔✔if there's a breach, the response process needs to be
documented (monster.com example)
✔✔Foreign Corrupt Practices Act - ✔✔law that prevents US corporations (based in the
US) from incentivizing.
Can't bribe govt. official to be able do business elsewhere.
Prevents unfair competition in commerce
✔✔cause-related marketing - ✔✔for profit and non profit organizations cooperate to
generate funds.
US raises 7 billion annually
✔✔CSR - ✔✔business's concern for a society's welfare. Meant to make customers
happy and hopefully increase profitability.
✔✔Sustainability theory - ✔✔companies engage in socially responsible practices and
tend to financially outperform their competitors over time.
find ways to attack society's "ills"
✔✔1. consumer product safety commission
2. food and drug administrationo
, 3. Fair trade commission - ✔✔3 federal agencies that are most directly and actively
involved in marketing affairs.
✔✔Bureau of competition - ✔✔reviews mergers and acquistions
challenges anti-competition behavior
promo competition
provides information
✔✔Bureau of consumer protection - ✔✔- federal laws to protect consumer
- empowers consumer with information
- communicates with consumers about fraud
✔✔SWOT internal - ✔✔Strength and weaknesses
✔✔SWOT external - ✔✔Opportunities and threats
✔✔Marketing myopia - ✔✔approach to marketing that focuses on the needs of the
company instead of defining the company and its products by customer's needs and
wants
✔✔gaining acceptance from those involved - ✔✔Most important concept from
implementation stop
✔✔Benefits Corporation - ✔✔Legally allows a company to say we're going to balance
our financial/economic goals for this organization with some other social environmental
goal.
✔✔Most important characteristics of Effective corporate social responsibility - ✔✔Must
be perceived as authentic
✔✔Shared Value - ✔✔created by KRAMER, happens when businesses benefit society
and the bottom line. Based on the idea that companies and communities are inherently
intertwined.
✔✔ Marketing is defined as - ✔✔the activity, set of institutions and processes for
creating, communicating, delivering and exchanging offerings that have value for
customers, clients, partners and society at large
** Facilitate changers in mutually beneficial manner
** Meet needs and wants while maintaining organizational objectives
✔✔Marketing is about balancing 2 equally important goals - ✔✔create value and meet
organizational objectives
QUESTIONS SET A+
✔✔Hustle Culture - ✔✔Work work work. That's all you do. Don't stop working and that's
what makes us great.
✔✔Federal Trade Commission - ✔✔Identifies norms for ethical use of consumer
information
✔✔Enforcement protocol - ✔✔if there's a breach, the response process needs to be
documented (monster.com example)
✔✔Foreign Corrupt Practices Act - ✔✔law that prevents US corporations (based in the
US) from incentivizing.
Can't bribe govt. official to be able do business elsewhere.
Prevents unfair competition in commerce
✔✔cause-related marketing - ✔✔for profit and non profit organizations cooperate to
generate funds.
US raises 7 billion annually
✔✔CSR - ✔✔business's concern for a society's welfare. Meant to make customers
happy and hopefully increase profitability.
✔✔Sustainability theory - ✔✔companies engage in socially responsible practices and
tend to financially outperform their competitors over time.
find ways to attack society's "ills"
✔✔1. consumer product safety commission
2. food and drug administrationo
, 3. Fair trade commission - ✔✔3 federal agencies that are most directly and actively
involved in marketing affairs.
✔✔Bureau of competition - ✔✔reviews mergers and acquistions
challenges anti-competition behavior
promo competition
provides information
✔✔Bureau of consumer protection - ✔✔- federal laws to protect consumer
- empowers consumer with information
- communicates with consumers about fraud
✔✔SWOT internal - ✔✔Strength and weaknesses
✔✔SWOT external - ✔✔Opportunities and threats
✔✔Marketing myopia - ✔✔approach to marketing that focuses on the needs of the
company instead of defining the company and its products by customer's needs and
wants
✔✔gaining acceptance from those involved - ✔✔Most important concept from
implementation stop
✔✔Benefits Corporation - ✔✔Legally allows a company to say we're going to balance
our financial/economic goals for this organization with some other social environmental
goal.
✔✔Most important characteristics of Effective corporate social responsibility - ✔✔Must
be perceived as authentic
✔✔Shared Value - ✔✔created by KRAMER, happens when businesses benefit society
and the bottom line. Based on the idea that companies and communities are inherently
intertwined.
✔✔ Marketing is defined as - ✔✔the activity, set of institutions and processes for
creating, communicating, delivering and exchanging offerings that have value for
customers, clients, partners and society at large
** Facilitate changers in mutually beneficial manner
** Meet needs and wants while maintaining organizational objectives
✔✔Marketing is about balancing 2 equally important goals - ✔✔create value and meet
organizational objectives
