MKTG 4800 Chapter 6

A(n) buying___________ manages the purchase decision process and ultimately makes the decision.

Buying centers

B2C

Choice Impersonal relationships that exist through electronic communication. , Choice More customers but buy in smaller, less frequent quantities. , Choice Could be located anywhere in the world.

B2B

Complex buying process that can take a long time and involve more people. , Choice Direct supply chain from supplier to manufacturer. , Choice Derived demand that fluctuates and is more inelastic (less price sensitive).

The consumer buying decision process begins when which of the following occurs within the consumer? Multiple choice question.

Consumers recognize that there is a difference between their real and preferred states.

When identifying consumer markets, marketers often use Blank______, which are the characteristics of human populations and population segments.

Demographics

What are the two main reasons that marketers needed to be aware of culture?

Failing to understand cultural norms has a significant negative effect on product acceptance. Learning a target market's culture is essential to an effective marketing strategy.

Because environmental and personal factors at the moment of decision dramatically affect the purchase decision, it is possible to develop a consumer choice model for every purchase.

False

True or false: With the rise of the Internet, more people have become disconnected from their culture.

False

Which of the following are reasons companies frequently solicit proposals from a number of vendors? Select all that apply.

Getting more information about all available options is a good idea. Getting additional proposals helps in negotiating with the preferred vendor.

A consumer stimulated to acquire new information is engaged in ________ -involvement learning.

High

What are the two main reasons that marketers needed to be aware of culture? Multiple select question.

Learning a target market's culture is essential to an effective marketing strategy. Failing to understand cultural norms has a significant negative effect on product acceptance.

Which of the following are examples of B2B markets? Select all that apply.

Lenovo provides IT solutions to companies worldwide. GE sells commercial jet engines to commercial airlines.

A(n) limited ________ information search involves some research but not an extensive amount of research.

Limited

A(n) __________________occurs when the customer is familiar with the product and supplier but is looking for additional information.

Modified rebuy

is the force by which powerful unmet needs, or motives, prompt someone to action.

Motivation

A tool developed in the 1990s for defining and segmenting business markets is a classification system known as the Blank

NAICS

What are three internal forces that affect consumer choices?

Occupation Gender Motivation

Components used in the manufacturing process are called purchases

Orginal equipment manufacturer

purchases are components used in the manufacturing process.

Original equipment manufacturer

What offers companies the most effective method for direct communication with the customer?

Personal Selling

Problem recognition is most likely to trigger additional stages in the purchase decision process in which of the following situations?

Pete returned home from work to a broken refrigerator, and now most of his food needs to be thrown out.

Which of the following are methods used to determine the list of vendors? Select all that apply.

Search for and identify potential suppliers. Create a list of preferred or approved suppliers.

Which three criteria are critical to the purchase decision?

Service Financial Value

Physical surroundings, personal circumstances, and time are all Blank______ factors that affect change in the consumer. Multiple choice question.

Situational

Which three statements are true of consumers? Multiple select question.

The characteristics that impact their decision making change over time. Their decision-making process is complex and difficult to predict. Their characteristics vary by individual.

Which of the following are objectives that proposals accomplish?

The proposal makes the case for selecting the company by presenting any additional information. The proposal clearly specifies how the company's products will meet the product specifications.

Which of the following are reasons why product specifications should be defined? Select all that apply. Multiple select question.

To give direction to the buying center. To help individuals inside the organization plan for the future. To guide potential suppliers.

True or False: Employees frequently activate the purchase process as part of their job.

True

Which purchase situation most likely involves low involvement learning for the consumer?

Tyrone is buying a cup of coffee at the corner coffee shop, which he does most days.

are the actual consumer of the product and play a critical role in the buying center.

Users

Which of the following are marketing challenges in buying centers? Select all that apply.

Who is part of the buying center? What are the decision criteria for evaluating the various product options? Who are the most significant influencers?

An individual's assessment of an object that evaluates the object on several important attributes is based on Blank

a multiattribute model

An individual's assessment of an object that evaluates the object on several important attributes is based on Blank______.

a multiattribute model

Gordon is in the market to buy a new car. It is important to him that the car gets good gas mileage, is environmentally friendly, has a built-in GPS system, and is under $25,000. What is Gordon using to make his decision? Multiple choice question.

a multiattribute model

What three characteristics would fall under the category of demographics?

age gender occupation

Which of the following increase the likelihood of post-purchase dissonance of a high-involvement purchase? =

alternatives that are rated equally a high degree of importance for the customer a high degree of commitment that is not easily revoked

A learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way is referred to as

an attitude

Which of the following is not a stage in the business market purchase decision process?

ask for customer feedback

________usually are not permanent groups but are convened to make a purchase decision and then disband.

buying center

Which stage is not a part of the consumer decision-making process?

consumer satisfaction/dissatisfaction

What are three external forces that impact the consumer decision process?

cultural elements situational elements social stimuli

Dealing with complaints, resolving customer problems, and making sure the company is meeting customer expectations are critical to ensuring

customer satisfaction

When identifying consumer markets, marketers often use Blank______, which are the characteristics of human populations and population segments.

demographics

demand for B2B products originates from the demand for consumer products.

derived

Kellogg's purchases large quantities of whole grain in order to produce its cereal products. Consumers' desire for cereal affects the size and frequency of Kellogg's purchases, which is an example of what characteristic of B2B buying? Multiple choice question.

derived demand

High-involvement, large purchases often lead to a level of doubt or anxiety known as post-purchase

dissonance

Information can be misunderstood or made to fit existing beliefs, a process known as selective

distortion

The process that allows customer computers to communicate directly with supplier computers to reorder as needed is facilitated by

electronic data interchange

Research suggests that consumers make product choices from which three perspectives?

emotional choice attribute-based choice attitude-based choice

factors shape individual wants and behavior, define the products under consideration, target the selection of information sources, and shape the purchase decision.

external

True or false: In consumer markets, customers are satisfied all the time.

false

(n) is a group of two or more people living together and related by birth, marriage, or adoption.

family

Organizations, such as the Small Business Administration, provide information on Blank______ contracts and contact personnel.

government

When a consumer is concerned with the outcome of the process, he or she will spend more time learning about product options and become more emotionally connected to the process and the decision. The consumer is engaging in Blank

high-involvement learning

NAICS provides common

industry definitions for Canada, Mexico, and the United States

Identifying who the most significant Blank______ are in the buying center is critical in both preparing a sales presentation and following up. Multiple choice question.

influencers

Perception is the process by which an individual selects, organizes, and interprets Blank______ to create a meaningful picture of the world.

information

In B2B markets, nonprofits, hospitals, and other non-government organizations are classified as

institutions

is activated by three elements: the individual's background and psychological profile; the aspirational focus; and the environment at the time of the purchase decision.

involvement

Business markets are characterized by fewer but ________customers than consumer markets.

larger

When a consumer makes decisions almost automatically and is not prompted to value new information, the consumer is engaging in

low involvement

Which of the following are critical vendor items for the buying firm to consider?

management capabilities financial stability customer references

What are the three recognized buying situations in B2B buying?

modified rebuys new purchases straight rebuys

The stimulating power that induces and then directs behavior is called

motivation

Which of the following affect the business buying decision? Select all that apply. Multiple select question.

nature of the purchase time frame for the decision number of people involved in the decision understanding of the product being purchased

The most complex and most difficult buying situation is a(n

new purchase

The purchase of a product or service by a customer for the first time is called a Blank_

new purchase

Which of the following is the most important tool in developing and maintaining a strong customer relationship in business markets?

one-on-one personal communication

is a system to select, organize, and interpret information to create a useful, informed picture of the world.

perception

The process of business purchasing online is referred to as e-

procurement

are companies that buy products and then resell them to other businesses or consumers.

resellers

The psychological tool that people use to focus on what is relevant and eliminate what is not is called Blank______. Multiple choice question.

selective awareness

Physical surroundings, personal circumstances, and time are all Blank______ factors that affect change in the consumer. Multiple choice question.

situational

When Kayleigh goes shopping with her group of friends it becomes more of an activity. This represents a circumstance that can affect Kayleigh's purchase decision.

social

What are four purchase event characteristics that affect product choice decisions? Multiple select question.

social circumstances state of mind physical surroundings time

Which three external factors have the most significant impact on consumer choices?

social factors situational factors cultural factors

A Blank______ occurs when companies use a product on a consistent basis and simply reorder when needed.

straight rebuy

What are the three recognized buying situations in B2B buying? Multiple select question.

straight rebuys new purchases modified rebuys

A Blank______ is a complex logistics network characterized by high levels of coordination and integration among its members.

supply chain

The __________requires a high level of coordination among the participants and facilitates the movement of goods through a channel to the ultimate consumer.

supply chain

What three elements serve to activate involvement?

the environment at the time of the purchase decision the aspirational focus the individual's background and psychological profile

Which of the following are situational factors that affect the consumer decision-making process? Select all that apply. Multiple select question.

time personal circumstances physical surroundings

Place the steps of the consumer decision process in the correct order. NOTE: The first step in the process should be the top item in your list.

1. problem recognition 2. search for information 3. evaluation of alternative solution 4. product choice decision 5. post purchase assesement

Which statement accurately reflects the presence of customer relationships in the B2B buying process? Multiple choice question.

As companies connect with customers, the number of customer relationships increases making it difficult for the salesperson to keep up.

Often the final purchase decision involves trade-offs between equally important evaluation criteria and equally qualified

vendors