BUS 360 Test 2

What is the correct theoretical progression of Maslow's hierarchy of needs, from the bottom of the pyramid to the top of the pyramid?

physiological, safety, love, esteem, self-actualization

When consumers are engaged in the consumer decision process, the specific brands or stores they can readily recall in a product category are referred to as their ________ set.

retrieval

Although social media are used to build relationships in B2B contexts, B2B marketers normally use ________ for their marketing efforts.

white papers

Ethan considered three important attributes when deciding where he would do his banking: the convenience of the location, hours of operation, and interest rates for CDs. In this situation, these three attributes are called

evaluative criteria.

The salient or important attributes about a particular product that a consumer bases his or her product evaluation on are called

evaluative criteria.

When Catherine was considering different brands of jeans to buy, she could think of only three she would actually consider purchasing. These three brands make up her ________ set.

evoked

In terms of business markets, organizations like colleges that provide services to people in their care are classified as

institutions

The most visible types of B2B transactions are those in which ________ and service providers sell to other businesses.

manufacturers

Sandy thinks the east side of her city is a great area to own a home and raise a family. John thinks the east side has a lot of crime, poor schools, and would be a poor choice of location to own a home and raise a family. Sandy and John have different ________ regarding the east side of the city.

perceptions

External agencies and government bodies publish safety ratings for cars to help consumers alleviate ________ risk.

physiological

Alternative evaluation often occurs while the consumer is engaged in which of the following steps of the consumer decision process?

Information search

The fact that a family would spend a lot more time researching the market before buying a new car than it would in the decision to purchase an inexpensive kitchen appliance, like a coffeemaker, can best be explained by which of the following concepts?

Perceived benefits versus perceived costs of search

Of the five types of risk associated with purchase decisions, which one involves the perceived danger inherent in a poorly performing product or service?

Performance

In a(n) ________ buying center, there may be many participants, but one person makes the decision alone.

autocratic

When a manufacturer offers a money-back guarantee on the purchase of its products to show that the products will perform as expected, it is most likely attempting to alleviate which risk?

Financial

________ involves the buyer considering his own personal knowledge about a product based on past experience.

An internal search for information

John is involved in the buying center of a large organization. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. What role does John play in this situation?

Decider

________ reflects the link between consumers' demand for a company's output and the company's purchase of necessary inputs to manufacture or assemble that particular product.

Derived demand

Roberta works out at a health club, goes to yoga classes, and reads magazines about women's health to satisfy her inner desires. Which of Maslow's needs is Roberta fulfilling?

Esteem

When John was considering buying a new car, he sought out unbiased information and ratings about different makes and models in Consumer Reports magazine as well as from Edmunds.com. Which of the following corresponds most closely to this aspect of the decision process?

External search for information

Which of the following pertains to the performance of a product or service?

Functional needs

The discrepancy between a consumer's actual state and desired state is associated with which of the following steps in the consumer decision process?

Need recognition

In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale.

Proposal analysis, vendor negotiation, selection

________ pertain(s) to the personal gratification consumers associate with the product or service.

Psychological needs

Which of the following is an example of a reseller?

Wholesaler

According to the consumer decision process, after consumers recognize the need for a product, they then engage in

an information search.

The vast majority of products and services are likely to satisfy

both functional and psychological needs.

What are the three components that make up a person's attitude?

cognitive, affective, behavioral

Nathan was shopping for a new pair of athletic shoes. Although it would have been nice to take the shoes home immediately after purchasing them, he was willing to trade off immediate availability because he found that he could purchase the shoes online for a 50 percent discount. This is an example of using a

compensatory decision rule.

At the Fancy Print Area Rug company, all members of the team must reach a collective agreement that they can support a particular purchase. This is reflective of a(n) ________ buying center.

consensus

Because not all purchase intentions result in an actual purchase, marketers calculate the ________ to measure how effectively a decision to purchase a specific product results in a completed purchase.

conversion rate

Angela considered all sporting goods stores to be roughly equivalent in most ways; however, she considered REI stores to have an exceptional level of customer service. Customer service, therefore, would be considered a ________ for her in evaluating sporting goods stores.

determinant attribute

The individual who controls the flow of information or access to important decision makers serves as the ________ in the buying center.

gatekeeper

At the Unique Photo Frame company, the buying center proceeds through all six steps in the buying process and involves many people in the buying decision. This is a ________ situation.

new buy

The purchase of capital equipment by a company, which would likely be quite an involved process, is an example of a ________ situation.

new buy

Sometimes called buyer's remorse, ________ is the internal conflict that arises from an inconsistency between two beliefs, or between beliefs and behavior.

postpurchase cognitive dissonance

Marketers that set unrealistically high consumer expectations of a product through advertising or other types of promotion may generate higher initial sales, but it will eventually lead to ________ if the product fails to achieve these expectations.

postpurchase dissatisfaction

The acronym RFP, when used by those involved in business-to-business buying, stands for

request for proposals

Maurice is the buyer at the Upper End Clothing Company. He is often the only member of the buying center involved in the process. This is an example of a

straight rebuy

In the B2B buying process, ________ can provide tremendous cost savings for firms because they eliminate periodic negotiations and routine paperwork, and they offer the means to form a supply chain that can respond quickly to the buyer's needs.

web portals