GB 350 Final Exam || A+ Certified Solutions.
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
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
o Plans independently
**all these are characteristics, so study all*
FNB, a financial services company, opened a new branch in West Oxford. The new branch offers
the same services as existing FNB locations in Mississippi. Based on this scenario, which
strategy from Ansoff's Opportunity Matrix did FNB use by opening the new branch? correct
answers market development
A widget producer sells boxes of widgets. All boxes have one dozen widgets each, and
customers pay $3.99 per box, regardless of how many boxes they purchase. For example, a
business customer who purchases 20 boxes will pay the same amount per box as an individual
customer who purchases 1 box. What type of targeting strategy is the widget producer using?
correct answers Undifferentiated - appeal to entire market with one strategy
Which of the following is part of the Implementation stage of the marketing plan? correct
answers establishing timelines
Companies earn product/service differentiation competitive advantages when they are efficient
enough to charge low prices for their products as compared with competitors. correct answers
false
Consumer Products, Inc. had 3 SBUs: cosmetics, household cleaners, and snacks. The snacks
SBU originally included foods and beverages. Recently, the company decided to remove
beverages from the snacks SBU to plan more efficiently for foods and beverages separately.
Consumer Products, Inc. now has 4 SBUs: cosmetics, household cleaners, snacks, and beverages.
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
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
o Plans independently
**all these are characteristics, so study all*
FNB, a financial services company, opened a new branch in West Oxford. The new branch offers
the same services as existing FNB locations in Mississippi. Based on this scenario, which
strategy from Ansoff's Opportunity Matrix did FNB use by opening the new branch? correct
answers market development
A widget producer sells boxes of widgets. All boxes have one dozen widgets each, and
customers pay $3.99 per box, regardless of how many boxes they purchase. For example, a
business customer who purchases 20 boxes will pay the same amount per box as an individual
customer who purchases 1 box. What type of targeting strategy is the widget producer using?
correct answers Undifferentiated - appeal to entire market with one strategy
Which of the following is part of the Implementation stage of the marketing plan? correct
answers establishing timelines
Companies earn product/service differentiation competitive advantages when they are efficient
enough to charge low prices for their products as compared with competitors. correct answers
false
Consumer Products, Inc. had 3 SBUs: cosmetics, household cleaners, and snacks. The snacks
SBU originally included foods and beverages. Recently, the company decided to remove
beverages from the snacks SBU to plan more efficiently for foods and beverages separately.
Consumer Products, Inc. now has 4 SBUs: cosmetics, household cleaners, snacks, and beverages.
