BUAD 332 Exam 2 Chapter 5mylab

What are the five stages of the consumer adoption​ process, in the correct​ sequence?

Awareness, interest,​ evaluation, trial, and adoption

Which stage of the business buying decision process involves ranking the importance of​ reliability, durability, and​ price?

general need description

The second step in the buyer decision process might include seeking more information. Sources of information vary. Commercial sources normally​ ________ the​ buyer, but personal sources​ ________ products for the buyer.

inform; legitimatize or evaluate

People can be classified into the adopter​ categories, with each category having different values and rates of adoption. The adopter categories include​ ________, ________,​ __________, _________, and​ __________.

innovators, early​ adopters, early mainstream​ adopters, late mainstream​ adopters, and lagging adopters

Marketers need to understand and know the answers to several key questions when dealing with buying centers. Of the​ following, which is NOT one of those key​ questions?

Is price a major factor or is the buying center price​ sensitive?

Which of the following statements regarding the business market is​ correct?

Many sets of business purchases are made for one set of consumer purchases.

Companies must manage the​ ________, which often includes many different buying decisions in various stages of the buying decision process.

Overall Customer relationship

​Occupation, age, and lifestyle are​ _________ factors that influence consumer buyer behavior.

Personal

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

Which type of business buying situation offers marketers not only the greatest​ opportunity, but also the greatest​ challenge?

a new task situation

We define the​ ________ process as the mental process through which an individual passes from first learning about an innovation to final adoption.

adoption

Buyers who face a new​ task-buying situation usually go through​ ________.

all of the eight​ stages, including performance review

In which step of the buying decision process is the final order with the chosen supplier​ developed?

​Order-routine specification

Consumers go through a distinct process in making a purchase. Of the​ following, which is the final step in that​ process?

​Post-purchase behavior

The​ ________ market comprises all organizations that buy goods and services for use in the production of other products and services or for the purpose of reselling or renting them to others at a profit.

Business

_________ refers to the set of​ values, perceptions,​ wants, and behaviors learned by a member of society from family and other important institutions.

Culture

​__________________ determines whether the buyer is satisfied or dissatisfied with a purchase.

The relationship between the​ consumer's expectations and the​ product's perceived performance

The buying center and the buying decision process are influenced by​ ________, ​ __________, and​ __________ factors, as well as​ _____________ factors.

internal​ organizational, interpersonal, and individual​ factors, as well as external environmental factors

Business markets differ in many ways from consumer markets. The main differences are in​ ________, __________, and​ __________.

market structure and​ demand, the nature of the buying​ unit, and the types of decisions and the decision process

When making a​ purchase, the buyer goes through a decision process consisting of all of the​ following: ________.

need​ recognition, information​ search, evaluation of​ alternatives, purchase​ decision, and​ post-purchase behavior

The business buyer decision process itself can be quite​ involved, with several basic stages. The process begins with​ ______________ and concludes with​ _______________.

problem​ recognition; performance review

A simple model of consumer behavior suggests that marketing stimuli and other major forces enter the​ consumer's "black​ box." This black box has two​ parts: ________ and​ ________.

the​ buyer's characteristics and the​ buyer's decision process

Advances in information technology have dramatically affected the​ B-to-B buying process. Online​ purchasing, often called​ _______, has grown rapidly in recent years.

​e-procurement

Technology advances have made​ B-to-B online purchasing possible. This is called​ ________.

​e-procurement

What are the five characteristics that are especially important in influencing an​ innovation's rate of​ adoption?

Relative​ advantage, complexity,​ compatibility, divisibility, and communicability

Companies can do​ e-procurement in several​ ways, including​ _______, ________,​ ________, and​ __________.

reverse​ auctions, trading​ exchanges, company buying​ sites, and extranet links

​Generally, the​ consumer's purchase decision will be to buy the most preferred​ brand, but two factors can come between the purchase intention and the purchase decision. These two factors are​ ________.

attitudes of others and unexpected situational factors

Consumers go through specific stages in the process of adopting a new product. Those five stages include​ ________, ________,​ _______, _________, and​ _______.

awareness, interest,​ evaluation, trial, and adoption

Business marketers are increasingly connecting with customers online and through​ digital, mobile, and social media to​ ________, __________,​ __________, ___________, and maintain ongoing customer relationships.

engage​ customers, share marketing​ information, sell products and​ services, provide customer support services

One concern about the expanding use of​ e-procurement for​ B-to-B purchasing is that​ ________.

it can erode​ decades-old customer-supplier relationships

Which of the following correctly defines the consumer​ market?

Individuals and households that buy goods and services for personal consumption

In the broadest​ sense, a new product marketer must research​ _____________________ when developing a new product and a marketing program.

characteristics influencing the rate of adoption

Which of the following is NOT among the major factors influencing consumer buying​ behavior?

commercial

What is the mistaken assumption that​ business-to-business companies often make about digital and social​ media?

That digital and social media are useful primarily to consumer products and services companies