MKT 300 CH. 6-8 Quiz
Which type of business market tends to have the most complex buying procedures?
Government
A special form of licensing in which one company grants another company the right to market its product in accordance with its standards in exchange for a financial commitment is called
franchising
When a firm's products sell in foreign countries with little or no effort to obtain foreign sales, the firm is engaging in
limited exporting
Buyers' actions are affected by one or more internal energizing forces geared toward satisfying needs, which are called
motives
Volkswagen purchases upholstery for the interiors of its vehicles from various suppliers. This upholstery must have a set of characteristics that is expressed by Volkswagen. This set is called
specifications
Perception is a process in which an individual selects, organizes, and interprets information received through the sense organs.
?
Once initiated, the consumer buying decision process always leads to a purchase.
F
The criteria used to group people into classes are basically the same in all societies.
F
If Germany, in an attempt to bolster the sales of its own auto manufacturers, decided to limit the number of automobiles that could be brought in from other countries, Germany would be using a(n)
Quota
Brand name, product characteristics, packaging, and media allocation are among the easiest marketing mix variables to standardize around the world.
T
Industrial demand derives from consumer demand.
T
Not all the behavioral patterns and values attributed to specific subcultures apply to every member of that specific subculture.
T
On-time delivery is crucial to a business customer, since a late delivery may hold up a production line or cause the firm to lose sales.
T
Two-thirds of the world's total purchasing power is outside the United States.
T
When evaluating the alternatives, the buyer rates and eventually ranks the brands in the consideration set.
T
When purchasing products, business customers are especially concerned about quality, service, price, and supplier relationships.
T
When trying to estimate the purchases of a potential business customer, it is reasonable to suppose that there is a relationship between the size of the potential customer's purchases and a variable such as the number of personnel employed by the customer.
T
analysis is a systematic evaluation of current and potential suppliers that focuses on many dimensions including price, product quality, delivery service, product dependability, and overall company reliability
Vendor
In China, the price of imported Scotch is $30 per glass as opposed to Scotch from China which is $3. Which of the following do you think accounts for the difference in price?
import tariff
After doing considerable shopping, Eric has just decided what brand and type of athletic shoes to buy and where he's going to buy them. In what stage of the consumer buying decision process is Eric?
purchase
When Precision Brake sells to the individual dealers, they would be considered which of the following business types?
reseller
Snappy Tools, Inc., purchases hammers, bolts, and other hardware items from a variety of manufacturers and sells them to hardware stores at a price that includes a profit for Snappy Tools, Inc. The company would be part of what type of business market?
reseller
An open aggregate of people with similar social ranking is referred to as a
social class
Which of the following is the fastest growing, most affluent subculture in the United States?
Asian Americans
A subsidiary in a foreign country generally operates under
foreign management in order to develop a local identity.
Stuart's little brother Kyle joined the boy scouts recently. Stuart notices that in addition to wearing the boy scout uniform, Kyle has been better about keeping his everyday clothes neat and clean, has been searching online for camping gear, and has become interested in "green" products. Stuart believes that the boy scouts are now a reference group for Kyle because he
has taken on many of the values, attitudes, or behaviors of group members.
Compared with consumer goods, marketers aiming at business customers
have an enormous amount of information available concerning potential customers.
Marketers of computer software, music CDs, and books are particularly affected by cultural differences in
standards regarding intellectual property.