GB 350 CASCIO FINAL EXAM ACTUAL PAPER
2026 QUESTIONS ANSWERS GRADED A+
◉ adoption phase. Answer: educating future/potential customers on
a product, showcasing the value that can be provided to the
customer
◉ retention phase. Answer: delivering great experiences and
support to bring the customer back when the need arises again
◉ expansion phase. Answer: offering other products/services that
existing customers might need
◉ advocacy phase. Answer: giving customers/promoters a reason
and way to talk about/recommend a firm, their products, or their
services
◉ sacrifice (costs). Answer: what we must give up in an exchange
◉ - financial
- time/effort
- opportunity. Answer: what can you/your business sacrifice in an
exchange? in terms of what is the sacrifice COSTING your business?
,◉ value. Answer: the net benefits we expect to receive
◉ price reasonableness. Answer: perceptions regarding how
appropriate the price is, based on the perceived value at the time of
the exchange
◉ the price charge times the number of units sold. Answer: formula
for revenue:
◉ revenues - expenses. Answer: formula for profit:
◉ marketer's cost per unit x # of units sold. Answer: formula for cost
of goods sold:
◉ revenues - cost of goods sold. Answer: formula for gross profit:
◉ gross profit/revenues. Answer: formula for gross margin:
◉ market share. Answer: pricing to seek a determined percentage of
either revenue or number of units sold out of all revenues of all units
sold in a category
, ◉ sales maximization. Answer: price products to sell to maximize
revenues and quick product turnover
◉ inertia. Answer: maintaining existing prices without a strategic
focus on changes in the market environment
◉ supply. Answer: the quantity of a product that will be offered to
the market by a supplier at various prices for a specific product
◉ supply and demand. Answer: interact to determine the price of a
product at a given time
◉ demand. Answer: the quantity of a product that will be sold in the
market at various prices for a specified product
◉ elasticity of demand. Answer: consumers' responsiveness or
sensitivity to changes in price
◉ elastic demand. Answer: a situation in which consumer demand is
sensitive to changes in price
◉ elastic demand. Answer: if the price increases, revenues go down
◉ elastic demand. Answer: if revenues increase, prices go down
2026 QUESTIONS ANSWERS GRADED A+
◉ adoption phase. Answer: educating future/potential customers on
a product, showcasing the value that can be provided to the
customer
◉ retention phase. Answer: delivering great experiences and
support to bring the customer back when the need arises again
◉ expansion phase. Answer: offering other products/services that
existing customers might need
◉ advocacy phase. Answer: giving customers/promoters a reason
and way to talk about/recommend a firm, their products, or their
services
◉ sacrifice (costs). Answer: what we must give up in an exchange
◉ - financial
- time/effort
- opportunity. Answer: what can you/your business sacrifice in an
exchange? in terms of what is the sacrifice COSTING your business?
,◉ value. Answer: the net benefits we expect to receive
◉ price reasonableness. Answer: perceptions regarding how
appropriate the price is, based on the perceived value at the time of
the exchange
◉ the price charge times the number of units sold. Answer: formula
for revenue:
◉ revenues - expenses. Answer: formula for profit:
◉ marketer's cost per unit x # of units sold. Answer: formula for cost
of goods sold:
◉ revenues - cost of goods sold. Answer: formula for gross profit:
◉ gross profit/revenues. Answer: formula for gross margin:
◉ market share. Answer: pricing to seek a determined percentage of
either revenue or number of units sold out of all revenues of all units
sold in a category
, ◉ sales maximization. Answer: price products to sell to maximize
revenues and quick product turnover
◉ inertia. Answer: maintaining existing prices without a strategic
focus on changes in the market environment
◉ supply. Answer: the quantity of a product that will be offered to
the market by a supplier at various prices for a specific product
◉ supply and demand. Answer: interact to determine the price of a
product at a given time
◉ demand. Answer: the quantity of a product that will be sold in the
market at various prices for a specified product
◉ elasticity of demand. Answer: consumers' responsiveness or
sensitivity to changes in price
◉ elastic demand. Answer: a situation in which consumer demand is
sensitive to changes in price
◉ elastic demand. Answer: if the price increases, revenues go down
◉ elastic demand. Answer: if revenues increase, prices go down
