Concept Quiz-Chapter 7, 8, 9, 11

Which of the following represents the most people? a. European Union (EU) b. North American Free Trade Agreement (NAFTA) c. Asia-Pacific Economic Cooperation (APEC) d. Association of Southeast Asian Nations (ASEAN) e. Southern Common Market (MERCOSUR)

Asia-Pacific Economic Cooperation (APEC)

Online marketplaces where buyers and sellers can exchange information, goods, services, ideas, and payments are best described as _______. a. B2C e-commerce sites b. online auction sites c. buying centers d. corporate websites e. B2B e-commerce sites

B2B e-commerce sites

Which of the following has its own currency? a. Asia-Pacific Economic Cooperation (APEC) b. Southern Common Market (MERCOSUR) c. Association of Southeast Asian Nations (ASEAN) d. North American Free Trade Agreement (NAFTA) e. European Union (EU)

European Union (EU)

An internal energizing force that directs a person's activities toward satisfying needs or achieving goals is best described as _______. a. perception b. self-concept c. attitudes d. a motive e. learning

a motive

Companies often use social media influencers popular with their target market to promote their products. In this case, the influencers represent a(n) _______. a. membership reference group b. aspirational reference group c. social class d. subculture e. dissociative reference group

aspirational reference group

Which of the following consists of three major components: cognitive, affective, and behavioral? a. Motive b. Lifestyles c. Learning d. Attitude e. Personality

attitude

Buyers recognize the existence of a new product during which of the following stages of the product adoption process? a. Awareness b. Adoption c. Evaluation d. Trial e. Interest

awareness

Logitech was founded with the knowledge and resources to accelerate its participation and investment in the global marketplace; it was able to export products soon after being established in market niches in which it competed with long-established firms. This is an example of a(n) _______. a. export agent b. born global c. strategic alliance d. trading company e. contract manufacturer

born global

Which of the following is the strongest and most desired by marketers? a. Brand recognition b. Brand equity c. Brand preference d. Brand insistence e. Brand loyalty

brand insistence

The Double-A of American Airlines, the peacock of NBC, and the apple with a missing bite of Apple are examples of a _______. a. brand name b. brand equity c. trade name d. brand mark e. trademark

brand mark

Behavior that violates generally accepted norms of a particular society is best described as _______. a. consumer misbehavior b. consumer buying behavior c. routinized response behavior d. cognitive dissonance e. consumer fraud

consumer misbehavior

Copying computer software, video games, movies, or music without paying the producer for them is an example of _______. a. consumer misbehavior b. psychological influences c. social influences d. routinized response behavior e. situational influences

consumer misbehavior

In the case that a preferred brand is not available, which of the following consumer product types will a shopper be most likely to choose a substitute brand? a. Convenience b. Installations c. Shopping d. MRO supplies e. Specialty

convenience

Sales fall rapidly during which of the following? a. Product development b. Introduction stage c. Decline stage d. Maturity stage e. Growth stage

decline stage

Commodities and raw materials are typically purchased using which method of business buying? a. Negotiation b. Description c. Reciprocity d. Sampling e. Inspection

description

During the final stage of the consumer buying decision process, a person might experience cognitive dissonance, which is _______. a. objective characteristics (such as the size, speed, capacity) and subjective characteristics (such as style and color) that are important to him or her b. a group of brands that a buyer views as possible alternatives c. additional information sought from outside sources d. doubts in the buyer's mind about whether purchasing the product was the right decision e. when a buyer becomes aware of a difference between a desired state and an actual condition

doubts in the buyer's mind about whether purchasing the product was the right decision

A price increase or decrease does not significantly alter demand for a product with _______. a. derived demand b. elastic demand c. reciprocity d. inelastic demand e. joint demand

inelastic demand

Which of the following are viewed as "in the know" by many product adopters? a. Laggards b. Early majority c. Early adopters d. Late majority e. Innovators

early adopters

The use of bribes, which are illegal for U.S. companies, relate best to which of the following? a. Political and regulatory forces b. Trade barriers c. Economic forces d. Ethical and social responsibility forces e. Sociocultural forces

ethical and social responsibility forces

In which of the following stages of the consumer buying decision process does a person use evaluative criteria to assess a consideration set? a. Postpurchase evaluation b. Purchase c. Evaluation of alternatives d. Problem recognition e. Information search

evaluation of alternatives

High-involvement, unfamiliar, and expensive products such as cars are most likely to involve _______. a. routinized response behavior b. extended decision making c. limited decision making d. impulse buying e. enduring involvement

extended decision making

The process through which a person acquires the knowledge and skills to function as a consumer is best related to which of the following social influences on the buying decision process? a. Culture b. Social class c. Reference groups d. Family influence e. Roles

family influence

ACME Corp. has decided that all of its products' packages should be similar. ACME is using which of the following? a. Brand extension b. Co-branding c. Family packaging d. Family branding e. Private distributor packaging

family packaging

Which of the following involves developing marketing strategies as though the entire world (or its major regions) were a single entity? a. Segmentation b. Outsourcing c. Globalization d. Customization e. Licensing

globalization

Which of the following markets may have complex buying procedures due in part to their public accountability? a. Government markets b. College markets c. Producer markets d. Institutional markets e. Reseller markets

government markets

Most companies have entered the global marketplace _______ and _______. a. gradually; all at once b. immediately; incrementally c. thoughtfully; all at once d. immediately; all at once e. gradually; incrementally

gradually; incrementally

Which of the following is the market value of a nation's total output of goods and services for a given period in relation to its population? a. Gross domestic product b. Gross domestic product per capita c. Exchange control d. Gross national product per capita e. Balance of trade

gross domestic product per capita

During which of the product life cycle stages do sales rise rapidly? a. Growth b. Introduction c. Maturity d. Decline e. Deletion

growth

The Red Cross raises money to help people survive natural and manmade disasters. Red Cross can best be described as a(n) _______. a. specialty product b. idea c. good d. service e. unsought product

idea

Which of the following raises the price of foreign goods? a. Quota b. The World Trade Organization (WTO) c. Import tariff d. Exchange controls e. Embargo

import tariff

For most firms, the early stages of international development are often _______ and not fully _______. a. informal; planned b. formal; planned c. informal; implemented d. informal; improvised e. formal; implemented

informal; planned

You are thinking about buying a tablet to help with your classes and for entertainment purposes. When you search your memory for information about products that might address these needs, you are engaging in which aspect of the consumer buying decision process? a. Internal information search b. Consideration set c. Cognitive dissonance d. External information search e. Evaluative criteria

internal information search

ACME Corp. has concentrated its human resources with international expertise into one unit which serves as the central point for all information flow related to international operations, it is most likely using _______. a. an export department structure b. the global matrix structure c. an international division structure d. a product division structure e. a geographic area structure

international division structure

Which of the following are often a political necessity because of nationalism and government restrictions on foreign ownership? a. Joint ventures b. Outsourcing c. Direct investment d. Strategic alliances e. Contract manufacturing

joint ventures

Which of the following is closely related to packaging and is used to identify, promote, inform, and address legal requirements? a. Brand mark b. Labeling c. Packaging d. Brand licensing e. Branding

labeling

When buyers purchase products occasionally or from unfamiliar brands within a product category, they are most likely to use _______. a. enduring involvement b. extended decision making c. impulse buying d. routinized response behavior e. limited decision making

limited decision making

Which of the following is characterized by intense competition? a. Decline b. Introduction c. Test marketing d. Maturity e. Growth

maturity

Which of the following is NOT one of the five opportunities for creating value generated by a global presence? a. Exploit economies of global scale b. Minimize the transfer of knowledge across locations c. Exploit economies of global scope d. Mine optimal locations for activities and resources e. Adapt to local market differences

minimize the transfer of knowledge across locations

ACME Corp. has ordered widgets from Wiley Widgets several times before, but now it would like Wiley Widgets to offer a lower per-unit price in exchange for a larger order. ACME is using which of the following types of business purchases? a. Modified rebuy purchase b. New-task purchase c. Modified-task purchase d. New-rebuy purchase e. Straight rebuy purchase

modified rebuy purchase

Because it imports more products than it exports, so that money is flowing out of the country, the United States has a(n) _______. a. negative balance of trade b. positive gross domestic product c. negative gross domestic product d. negative exchange control e. positive balance of trade

negative balance of trade

Which of the following is NOT one of the ways that business transactions differ from consumer transactions? a. Suppliers of large, expensive, or complex goods often must sell products in large quantities to make profits. b. Discussions and negotiations associated with business purchases can require considerable marketing time and selling effort. c. Orders by businesses are frequently small and inexpensive. d. Purchasing decisions are often made by a committee. e. Orders by business customers tend to be much larger than individual consumer sales.

orders by businesses are frequently small and inexpensive

Which of the following is contracting of noncore operations or jobs from internal production within a business to an external entity that specializes in that operation? a. Outsourcing b. Licensing c. Offshoring d. Crowdsourcing e. Offshore outsourcing

outsourcing

To estimate the purchase potential of business customers, a marketer must find a relationship between a variable available in industrial classification data, such as number of employees, and the size of _______. a. potential customers' products b. current customers' sales c. potential customers' purchases d. potential customers e. potential customers' sales

potential customer's purchases

Which of the following markets includes wholesalers or retailers? a. Producer markets b. Institutional markets c. Buying centers d. Government markets e. Reseller markets

reseller markets

Which of the following is used by retailers or wholesalers to develop more efficient promotion, generate higher gross margins, and change store image? a. Private distributor brands b. Equity brands c. Generic brands d. Manufacturer brands e. Consumer brands

private distributor brands

Huy Fong Foods is buying peppers and vinegar to make its iconic Sriracha sauce. For Huy Fong Foods, these are best described as _______. a. installations b. process materials c. accessory equipment d. raw materials e. component parts

process materials

Gorton's Seafood buys large amounts of fish to use in its frozen dinners and dinner components. Gorton's Seafood belongs in which of the following business markets? a. Producer market b. B2C market c. Government market d. Institutional market e. Reseller market

producer market

A _______ is a specific version of a product, while a _______ is a group of closely related products that are considered to be a group because of marketing, technical, or end-use considerations. a. brand; product mix b. product mix width; product mix depth c. product mix; product line d. product item; product mix e. product item; product line

product item; product line

Which of the following is the total group of products that an organization makes available to customers? a. Brand mix b. Marketing mix c. Product mix width d. Promotion mix e. Product mix

product mix

Which of the following does the North American Free Trade Agreement NOT do? a. Make it easier to invest in Mexico and Canada b. Simplify country-of-origin rules c. Raise tariffs on products imported from Canada and Mexico d. Expand trade by requiring equal treatment of U.S. firms by Canada and Mexico e. Provide protection for intellectual property

raise tariffs on products imported from Canada and Mexico

When a business buyer invites vendors to bid to supply a specified good or service in competition with each other, with the lowest bidder winning the right to sell to the buyer, this is best described as _______. a. online auction b. buying center c. reverse auction d. B2B e-commerce site e. B2B exchange

reverse auction

Online marketing efforts make the buying process far more efficient because it _______ and _______. a. removes emotion, reduces costs b. saves time; is more professional c. saves time; increases costs d. takes more time; reduces costs e. saves time; reduces costs

saves time; reduces costs

The North American Industry Classification System (NAICS) is a(n) _______. a. state directory of businesses b. single industry classification system used by the United States, Canada, and Mexico to generate comparable statistics c. commercial database d. single industry classification system used globally to generate comparable statistics e. single industry classification system used in Europe to generate comparable statistics

single industry classification system used by the United States, Canada, and Mexico to generate comparable statistics

When retailers go to great lengths to create physical settings that appeal to their target market and are conducive to making purchase decisions, they are attempting to shape which of the following influences on consumer buying behavior? a. Situational b. Psychological c. Enduring d. Cultural e. Social

situational

Which of the following influences on the consumer buying decision process result from time, circumstances, and location? a. Social b. Situational c. Cultural d. Subcultural e. Psychological

situational

John's lawnmower stopped working midway through mowing his front yard. His interest in researching replacement lawnmower brands is most likely to be _______. a. low involvement b. routinized response behavior c. enduring involvement d. extended decision making e. situational involvement

situational involvement

Which of the following is an open aggregate of people with similar social rank? a. Opinion leader b. Culture c. Subculture d. Social class e. Reference group

social class

Any product making a nutritional claim must have _______. a. standardized packaging b. the information that the manufacturer thinks is important c. promotional nutrition labeling d. package licensing e. standardized nutrition labeling

standardized nutrition labeling

Which of the following organizational architecture elements is the most difficult to change, especially in the short term? a. People b. Functions c. Culture d. Structure e. Processes

structure

Which of the following is NOT a typical function of packaging? a. To promote a product b. To prevent tampering and shoplifting c. To prevent efficient handling of the product d. To protect the product and maintain its form e. To offer convenience to consumers

to prevent efficient handling of the product

ACME Corp. managers lack the will and resources to develop international marketing strategies, but are happy when their company's products are purchased by a(n) _______, which then sells them internationally. a. trading company b. joint venture c. licensor d. export agent e. contract manufacturer

trading company

Free samples can help move consumers into which of the following? a. Evaluation b. Interest c. Awareness d. Adoption e. Trial

trial

Which of the following are purchased when a sudden problem must be solved, products of which customers are unaware of until they see them in a store or online, and products that people do not plan on purchasing? a. Shopping products b. Accessory products c. Convenience products d. Specialty products e. Unsought products

unsought products

Examining quality, design, materials, and possibly item reduction or deletion to acquire the product in the most cost-effective way is best described as _______. a. value analysis b. vendor analysis c. specification analysis d. multiple sourcing e. sole sourcing

value analysis

When a company offers many product lines, it can be said to have a _______. a. shallow product mix b. wide product mix c. narrow product mix d. deep product mix e. brand product mix

wide product mix

Purchasing agents at ACME Corp. are looking in company files and trade directories, contacting suppliers for information, soliciting proposals from known vendors, and examining various online and print publications. They are in which of the following stages of the buying decision process? a. Searching for and evaluating potential products and suppliers b. Developing product specifications c. Selecting the product to be purchased and the supplier d. Recognizing the problem e. Evaluating the supplier's and product's performance by comparing it with specifications

searching for and evaluating potential products and suppliers

When a product's packaging can be reused for an additional purpose, this is best described as _______. a. secondary-use packaging b. family branding c. category-consistent packaging d. family packaging e. handling-improved packaging

secondary-use packaging

When you are using the internet to research a school project, and you ignore the banner ads on websites even though you see them flashing on the page, you are probably engaging in the process of _______. a. self-concept b. selective retention c. learning d. selective distortion e. selective exposure

selective behavior

Which of the following product elements derives from customers' involvement with the product, which may convey additional value to many products (and brands) for buyers? a. Brand equity b. Supplemental features c. The core product d. Symbolic or experiential benefits e. Brand loyalty

symbolic or experiential benefits

The group of people within an organization who make business buying decisions are best described as _______. a. the purchasing unit b. vendors c. the buying center d. gatekeepers e. influencers

the buying center