GB 350 EVALUATION TEST ANSWERS AND
QUESTIONS SET A+
✔✔Objective - ✔✔set to allow us to MEASURE how well we're performing when it
comes to what we're trying to do as an organization.
✔✔1. undifferentiated
2. niche
3. differentiated - ✔✔Target market strategies
✔✔Children - ✔✔Who's the most protected group of consumers?
✔✔Undifferentiated target market strategy - ✔✔appeals to the entire market with ONE
marketing mix
✔✔Niche target strategy - ✔✔concentrate on ONE marketing SEGMENT
✔✔Differentiated target market strategy - ✔✔appeal to multiple markets with MULTIPLE
marketing mixes
✔✔Triple bottom line - ✔✔organization can no longer think about financing and
shareholders
✔✔1. implementation
2. evaluation and control
3. marketing audit - ✔✔Steps of following marketing plan
✔✔Social control - ✔✔factors that maintain order and keep people and organizations
from running wild
✔✔Factors of maintaining social control - ✔✔ethics
laws
formal/informal groups
self-regulation
, the media
✔✔Ethics - ✔✔moral principles that govern the conduct of an individual or group.
Deals with the situation based on our morals
✔✔Laws - ✔✔est. rules for acceptable behavior. enforced by governmental authority.
Can change and follow a consistent pattern of increased acceptability in society
✔✔Formal/informal groups - ✔✔associations, businesses all have codes of conduct.
certain situations allow for different types of behavior and ethics dictate what is
acceptable.
✔✔Self-regulation - ✔✔voluntary efforts not required by law so org. can come together
often in industry and say "we could do this but we're not going to"
✔✔The media - ✔✔influencing civil society or trying to maintain it. Role has been
objectively disseminating information about current events.
✔✔Active customers - ✔✔help shape behavior or try to encourage desirable behavior
among companies, esp when it comes to marketing.
✔✔- Foster consumer trust and confidence
- avoid future legal intervention - ✔✔2 reasons for self-regulation
✔✔Foster consumer trust and confidence - ✔✔customers want to do business with
companies that they believe have values that are aligned with their own. Can do things
that may seem like big steps, but bring great returns
** Walmart, walgreens, CVS gun example
✔✔Ethics in business - ✔✔few concepts/rules as to what is good or bad developed as a
result of cultural values and norms
✔✔Morals - ✔✔foundation for ethics and tend to be enduring
Belief about what's right or wrong is typically hard to change people's minds
✔✔situation specific and time oriented - ✔✔ethical values are _____ and ______
✔✔shareholders - ✔✔entities that give money, want to give them returns and make
decisions based on what they want, like a reward
✔✔Stakeholders - ✔✔focus on who gave money and what they deserve, also on how
their decisions will impact others
QUESTIONS SET A+
✔✔Objective - ✔✔set to allow us to MEASURE how well we're performing when it
comes to what we're trying to do as an organization.
✔✔1. undifferentiated
2. niche
3. differentiated - ✔✔Target market strategies
✔✔Children - ✔✔Who's the most protected group of consumers?
✔✔Undifferentiated target market strategy - ✔✔appeals to the entire market with ONE
marketing mix
✔✔Niche target strategy - ✔✔concentrate on ONE marketing SEGMENT
✔✔Differentiated target market strategy - ✔✔appeal to multiple markets with MULTIPLE
marketing mixes
✔✔Triple bottom line - ✔✔organization can no longer think about financing and
shareholders
✔✔1. implementation
2. evaluation and control
3. marketing audit - ✔✔Steps of following marketing plan
✔✔Social control - ✔✔factors that maintain order and keep people and organizations
from running wild
✔✔Factors of maintaining social control - ✔✔ethics
laws
formal/informal groups
self-regulation
, the media
✔✔Ethics - ✔✔moral principles that govern the conduct of an individual or group.
Deals with the situation based on our morals
✔✔Laws - ✔✔est. rules for acceptable behavior. enforced by governmental authority.
Can change and follow a consistent pattern of increased acceptability in society
✔✔Formal/informal groups - ✔✔associations, businesses all have codes of conduct.
certain situations allow for different types of behavior and ethics dictate what is
acceptable.
✔✔Self-regulation - ✔✔voluntary efforts not required by law so org. can come together
often in industry and say "we could do this but we're not going to"
✔✔The media - ✔✔influencing civil society or trying to maintain it. Role has been
objectively disseminating information about current events.
✔✔Active customers - ✔✔help shape behavior or try to encourage desirable behavior
among companies, esp when it comes to marketing.
✔✔- Foster consumer trust and confidence
- avoid future legal intervention - ✔✔2 reasons for self-regulation
✔✔Foster consumer trust and confidence - ✔✔customers want to do business with
companies that they believe have values that are aligned with their own. Can do things
that may seem like big steps, but bring great returns
** Walmart, walgreens, CVS gun example
✔✔Ethics in business - ✔✔few concepts/rules as to what is good or bad developed as a
result of cultural values and norms
✔✔Morals - ✔✔foundation for ethics and tend to be enduring
Belief about what's right or wrong is typically hard to change people's minds
✔✔situation specific and time oriented - ✔✔ethical values are _____ and ______
✔✔shareholders - ✔✔entities that give money, want to give them returns and make
decisions based on what they want, like a reward
✔✔Stakeholders - ✔✔focus on who gave money and what they deserve, also on how
their decisions will impact others
