MKT 340 Chap 5

People use the same products and services as they progress through each life-cycle stage. T/F

False

The buying center consists of key decision makers from both the buying organization and supplier. T/F

False

Tom usually buys new devices such as PDAs, DVRs, and MP3 players only after his friends and family start owning these devices. In this car, Tom is an innovator. T/F

False

When a consumer learns about a new product for the first time and makes a decision to try it, the consumer is engaged in the evaluation of alternatives process. T/F

False

In vendor-managed inventory, buyers share sales information directly with key suppliers. T/F

True

Which of the following is the first stage of the buyer decision process?

Need recognition

Which of the following is considered a major influence on business buyer behavior?

Organizational factors

Harper Farms raises chickens. For years, it has used wooden coops, she noticed many of them could not be sufficiently cleaned for reuse and needed to be replaced. Which stage of the business buying decision process was Harper in when she decided to replace her old coops?

Problem recognition

Jeff is in the process of buying a new car. He carefully analyzes the features that he wants in a car, and perceives significant differences in price, quality, and features among three of his favorite models. He rates the models on each factor and ranks them in the order of his preference. To which of the following stages of the buyer decision process will Jeff most likely proceed next?

Purchase decision

A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's fans. From the fans' viewpoint, the band is a ____________.

Reference group

Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business?

Reverse auctions

A(n) _____________ reflects the general esteem given to the different roles of a person by society.

Status

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n)____________.

Straight rebuy

_________ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers.

Systems selling

A small increase in consumer demand can cause a large increase in business demand. T/F

True