chapter 5 assignments
chapter 5 quiz
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dynamic study module
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mini sim
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video assignment
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What is a modified rebuy?
A business buying situation in which the buyer wants to change product specifications, prices, terms, or suppliers
Given the three potential target markets' different profiles, which target market do you recommend to be PowerShirt's primary target market?
Fitness Fanatics
Which stage of the business buying decision process involves ranking the importance of reliability, durability, and price?
General need description
Which of the following is NOT one of the typical advantages of e-procurement systems?
Improving customer-supplier relationships
Which of the following correctly defines the consumer market?
Individuals and households that buy goods and services for personal consumption
Which of the following are tradition-bound, suspicious of changes, and adopt the innovation only when it has become something of a tradition itself?
Lagging adopters
__________ are such things as product, price, place, and promotion and are considered part of the environment that influences the buyer's black box.
Marketing stimuli
What is the first step of the buyer decision process?
Need recognition
How does the choice-supportive bias phenomenon mentioned in the video work in favor of companies and their branding efforts?
People tend to defend the choices they make, which makes them more likely to rebuy products they use.
Now that you have been briefed on the PowerShirt's features, you need to identify which attribute of the PowerShirt is its most valuable differential advantage. Keep in mind that the differential advantage is the feature that sets it apart from the competition and makes the product desirable to the target market. VP of Marketing: "The sports apparel market is large and growing -- nearly $100 billion in sales in the United States alone -- and is crowded with big-name competitors with huge product lines offering hundreds of shirt styles and colors. To succeed in the sports apparel market, Powerfully Fit needs to stand out from the rest." Which of the following is the PowerShirt's differential advantage?
Power
The business buying process can be a complex and complicated process with eight basic stages. Which of the following is the first stage in this process?
Problem recognition
What are the eight steps in the business buying decision process, in the correct sequence?
Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review
An attitude is __________.
a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea
In the adoption process, __________ is when the consumer becomes familiar with the new product but lacks information about it.
awareness
__________ is a descriptive thought that a person holds about something.
belief
A purchase decision is the __________.
buyer's determination about which brand to select
One factor influencing adoption is ________, which is the degree to which the new product fits the values and lifestyle of consumers.
compatibility
Social class is a type of ________ characteristic that influences consumer buying behavior.
cultural
__________ is the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
culture
The information search is the stage of the buyer decision process in which the consumer __________.
is motivated to locate more information
__________ describes the changes in an individual's behavior arising from experience.
learning
A business buying situation in which the buyer wants to change product specifications, prices, terms, or suppliers is known as a(n) __________.
modified rebuy
Marketers of brands understand that they must figure out how to reach ____________ that can exert social influence on others.
opinion leaders
The first step of the business buying process is __________.
problem recognition
Marketing stimuli are such things as __________.
product, price, place, and promotion and are considered part of the environment that influences the buyer's black box
A purse company's ads feature the members of a popular reality show about housewives. Product sales increase significantly among fans. From fans' viewpoint, the reality show is a ________.
reference group
__________ is a relatively permanent and ordered division in a society whose members share similar values, interests, and behaviors.
social class
A(n) __________ is a business buying situation in which the buyer routinely reorders something without modifications.
straight rebuy
The buyer makes the fewest decisions in the ________ and the most in the ________ decision.
straight rebuy; new task
Perception is __________.
the process by which people select, organize, and interpret information to form a meaningful picture of the world
__________ is the buyer's determination about which brand to select.
the purchase decision
When people continue to buy and use a product solely because they don't want to "throw away" the time and money they have already invested in it, the video describes this as ________ at work.
the sunk cost fallacy
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
__________ is the stage of the buyer decision process in which the consumer is motivated to locate more information.
The information search
__________ determines if a buyer is satisfied or dissatisfied with a purchase.
The relationship between the consumer's expectations and the product's perceived performance
According to the model of buyer behavior, what is in a buyer's "black box"?
The buyer's characteristics and decision process
Alternative evaluation is the stage of the buyer decision process in which the consumer __________.
uses information to review different brands in the choice set
What are the five stages of the consumer adoption process, in the correct sequence?
Awareness, interest, evaluation, trial, and adoption
Companies use ________ to put their B-to-B purchasing requests online and invite suppliers to bid for the business.
reverse auctions
Which of the following is NOT a psychological factor influencing consumer buying behavior?
Self-concept
Technology advances have made B-to-B online purchasing possible. This is called ________.
e-procurement
Which of the following refers to the degree to which an innovation fits the values and experiences of potential consumers?
Compatibility
________ demand is the term used for business demand that ultimately comes from the demand for consumer goods.
Derived
Keep your target market's desires and PowerShirt's differential advantage in mind as you consider your messaging strategy for your integrated marketing communication plan.
PowerOn! PowerShirt keeps you charged all day long.
You meet with your boss to discuss your progress: "I am pleased with the progress you have made in your evaluation of the first four steps of the buyer decision process. It is critical that we not only have an understanding of the process from the consumer's perspective, but also use this understanding to guide our marketing strategy and decision making." "Our work does not stop when the consumer purchases the PowerShirt. To reach our goals, we need to make sure we are developing loyal customers who will make purchases in the future. Reducing cognitive dissonance is one strategy for building customer loyalty. Our analysts have recommended three different strategies. Which one do you recommend we implement first?" Select an option from the choices below and click Submit.
Quality product/instructions: Manufacture with superior components, provide sales training to retail associates, and provide detailed use instructions for consumers.
All the individuals and households that buy or acquire goods and services for personal consumption are known as the ________ market.
consumer
__________ is the stage of the buyer decision process in which the consumer uses information to review different brands in the choice set.
Alternative evaluation
Consumers obtain information from numerous sources. Which of the following involves dealer and manufacturer websites, packaging, and displays?
Commercial sources
Need recognition is __________.
the first stage of the buyer decision process, in which the consumer notices a problem
Culture is known as __________.
the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions
According to Maslow's hierarchy, which of the following needs would a person seek to satisfy first?
thirst
__________ describes a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.
Attitude
Mavis loves her new iPhone but wonders if a Samsung Note would have offered more benefits. This is an example of which of the following?
Cognitive dissonance
__________ refers to purchasing through electronic connections between buyers and sellers—usually online.
E-procurement
Technological, political, and competitive influences are categorized as which type of major influence on business buyer behavior?
Environmental
Now that you have identified your product's differential advantage and your target market, you need to turn your attention to the buyer decision process. The buyer decision process begins with need recognition and ends with post-purchase behavior. Review each of the following situations from the mobile phone industry and then drag it to the correct stage in the buying process.
Need Recognition: On her way into work this morning, Jackie dropped her mobile phone and now it will not turn on. Information Search: Once Jackie gets into the office, she asks her coworkers what they like and dislike about their mobile phones. Evaluation of Alternatives: Using information from her coworkers and manufacturer websites, Jackie creates a spreadsheet that ranks each phone on price, reliability, and camera quality. Purchase Decision: After work, Jackie visits her cellular provider to purchase her new phone and update her mobile contract. Post-purchase Behavior: Jackie is thrilled with her new phone, especially the camera quality, and tells everyone at work that they should upgrade, too.
You've selected the advertising program to begin need stimulation for the PowerShirt. Once the target market recognizes a need for the PowerShirt, they will need to gather more information about it. Your responsibility is to make sure that this information is readily available to the potential consumer. You now need to decide on a marketing strategy that will put out information when and where consumers will search for it.
Social media websites: Create PowerShirt accounts on leading social media sites highlighting product innovation and superiority PowerfullyFit.com website: Create dedicated PowerShirt pages housed on the firm's website complete with images, video, and text
__________ are a type of buyer response.
Buying attitudes and preferences
Which of the following is NOT among the major factors influencing consumer buying behavior?
Commercial
__________ is a group of people with shared value systems based on common life experiences and situations.
Subculture
Marketers need to understand and know four major influences on business buyer behavior. Which of the following is NOT one of those influences?
Supplier selection
_________ is one problem with business-to-business e-procurement.
Suppliers being pitted against one another
Using what you have learned in your focus group, you begin your analysis of the buyer decision process. In the first stage of the process, you need to show consumers that their existing state does not equal their desired state. Which advertising strategy would be optimal for the need (problem) recognition stage?
Television ad on a fitness training television channel showing a consumer charging their phone using PowerShirt
___________ consists of many different people who play multiple roles in the buying process.
The buying center
What is learning?
The changes in an individual's behavior arising from experience
Which of these is a way that owners groups and other brand communities help companies build and maintain brand loyalty?
The emotional benefit of social identification that people get from belonging to a group makes them tend to support and defend the group.
As consumers approach the decision point, you must address those factors that affect purchase intent and ultimately purchase. Given what you know about the target market, which of the following three factors is most likely to increase purchase intent?
Word of mouth: Provide free sample PowerShirts to key opinion leaders in large running clubs and gyms to generate positive word of mouth.
Consumers go through five stages in the process of adopting a new product. In the ________ stage, the consumer considers whether trying the new product makes sense.
evaluation
In the __________ stage, the consumer considers whether trying the new product makes sense.
evaluation
When marketers want to promote their products and services through word-of-mouth marketing programs, they typically begin by ________.
generating person-to-person brand conversations
If a brand has acquired such a strong association with quality in the minds of consumers that they automatically assume a new product from this company will also be of high quality, these people have used a(n) _______ to simplify their buying decisions.
heuristic
Classify the following products as either high involvement or low involvement from the Fitness Fanatic target market's perspective. After you have classified all the products, you can click Submit.
high involvement: automobile & running shoes low involvement: paper towels & oatmeal
In the interest stage, __________.
the consumer seeks information about the new product
__________ is a characteristic important in influencing an innovation's rate of adoption and described by the degree to which the innovation may be tried on a limited basis.
Divisibility
Which adopter group is first to adopt a new product?
Innovators
What are the five steps in the buyer decision process, in order?
Need recognition, information search, evaluation of alternatives, the purchase decision, and postpurchase behavior
How does branding reduce perceived risk for consumers?
Once they have established trust in a brand, customers are likely to perceive less risk in continuing to buy it.
The customer journey concept ________.
takes a holistic view of all the experiences a consumer has with a brand
In the evaluation stage, __________.
the consumer considers whether trying the new product makes sense