Chapter 5 Quiz
What is the nature of demand in business markets?
Demand in business markets is derived demand.
Which of the following is NOT one of the typical advantages of e-procurement systems?
Improving customer-supplier relationships
________________ is one problem with business-to-business e-procurement.
Suppliers being pitted against one another
What is the first step of the buyer decision process?
need recognition
Which of the following needs in Maslow's hierarchy is generally satisfied first?
physiological needs
_________ refers to the practice of integrating ethnic themes and cross-cultural practices within a company's mainstream marketing.
Total market strategy
Which of the following refers to the degree to which an innovation fits the values and experiences of potential consumers?
compatability
Which of the five characteristics identified has an inverse relationship with an innovation's rate of adoption, meaning as this characteristic increases, the rate of adoption is slower?
complexity
Which of the following is likely to slow the adoption of a new technology?
conceptual complexity
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
A purse company's ads feature the members of a popular housewives reality show. Product sales increase significantly among fans. From fans' viewpoint, the housewives reality show is a ______________.
reference group
Which of the following statements regarding the business market is correct?
Many sets of business purchases are made for one set of consumer purchases.
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
___________________ consists of many different people who play multiple roles in the buying process.
The buying center
______________________ determines if a buyer is satisfied or dissatisfied with a purchase.
The relationship between the consumer's expectations and the product's perceived performance