Marketing Ch. 5 - two

The most effective sources of information about a product tend to be ________. A) commercial B) public C) experimental D) personal E) paid

D

________ is the degree to which an innovation fits the values and experiences of potential consumers. A) Relative advantage B) Divisibility C) Complexity D) Compatibility E) Communicability

D

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) ________. A) modified rebuy B) new-task situation C) straight rebuy D) dual distribution channel E) exclusive distribution channel

A

In which of the following stages of the adoption process does a consumer seek information about a new product? A) interest B) adoption C) evaluation D) awareness E) trial

A

________ is a discomfort caused by postpurchase conflict. A) Selective retention B) Cognitive dissonance C) Selective attention D) Restraint bias E) Subliminal perception

B

GenX, a manufacturer of sport motorcycles, is seeking a new supplier of motorcycle headlamps and brake lights. After searching trade directories, GenX invites five different suppliers to make formal presentations about how their solutions can create greater value for GenX than competing solutions. GenX is currently in the ________ stage of the business buying decision process. A) problem recognition B) general need description C) product specification D) supplier search E) proposal solicitation

E

________ is the degree to which an innovation appears superior to existing products. A) Relative advantage B) Compatibility C) Complexity D) Divisibility E) Communicability

A

Bill thought he had received the best deal on his riding mower. Shortly after the purchase, Bill started to notice certain disadvantages of his new riding mower as he learned more about other riding mowers available in the same price range. Bill is in which of the following stages of the buyer decision process? A) purchase decision B) need recognition C) postpurchase behavior D) information search E) alternate evaluation

C

In which of the following stages of the adoption process does a consumer consider whether trying a new product makes sense? A) interest B) adoption C) evaluation D) awareness E) trial

C

Which of the following is most likely the final stage of the business buying decision process? A) problem recognition B) product specification C) proposal solicitation D) order-routine specification E) supplier performance review

E

Devon is in the market for a new car. She is seriously considering either a Honda Civic or Toyota Corolla because they both have excellent quality and safety ratings and are comparable in price. Devon is in the ________ stage of the buyer decision process. A) evaluation of alternatives B) need recognition C) information search D) purchase decision E) postpurchase behavior

A

GE operates a company trading site where it posts purchasing needs, invites bids, negotiates terms, and places orders. This is an example of a(n) ________. A) company buying site B) intranet link C) search engine D) trading exchange E) reverse auction

A

Harper Farms raises chickens. For years, it has used wooden coops for hauling its poultry to market. When the owner, Jane Harper, went to reuse some of her 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? A) problem recognition B) general need description C) product specification D) product value analysis E) performance review

A

Which of the following statements about buying centers is true? A) The buying center is not a fixed and formally identified unit within a buying organization. B) Roles in the buying center are specified in the organizational chart of a firm. C) The CEO of an organization is always the decision maker in a buying center. D) An individual's role in a buying center does not change with time. E) All buying centers involve formal participants.

A

________ is the degree to which an innovation may be tried on a limited basis. A) Divisibility B) Compatibility C) Communicability D) Relative advantage E) Complexity

A

Alice is shopping for a new car, and she has narrowed her decision to a Honda Accord and a Toyota Camry. Both sedans have similar features and prices, but Alice decides to purchase the Honda based on her intuition. Which of the following situations would most likely cause Alice to experience postpurchase dissonance? A) The price of the Honda Accord increases by a huge margin. B) The price of the Toyota Camry falls due to an increase in demand. C) The Honda Accord meets all her expectations and satisfies her needs. D) The Toyota Camry experiences technical failures that lead to a recall. E) The maintenance costs of the Honda Accord decrease significantly over time.

B

Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the specialized, toughened glass. This illustrates ________. A) types of decisions B) derived demand C) market structure D) the decision process E) nature of the buying unit

B

During which stage of the business buying decision process is a buyer most likely to conduct value analysis by carefully studying components to determine if they can be redesigned, standardized, or made less expensively? A) general need recognition B) product specification C) proposal solicitation D) order-routine specification E) performance review

B

In a straight rebuy, a buyer ________. A) wants to obtain the same product from a lower-priced supplier B) reorders something without any modifications C) considers a product or service for the first time D) needs a modified product to suit new requirements E) finds new ways to add value to the same product

B

Which of the following is considered a major influence on business buyer behavior? A) general need B) organizational factors C) social forces D) demographic criteria E) performance reviews

B

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) ________. A) modified rebuy B) new task situation C) straight rebuy D) dual distribution system E) exclusive distribution system

C

Electric cars are not considerably different or difficult to drive relative to gas-powered cars. However, this is not aligned with the perceptions or conceptual concerns held by the public about the new technology. This will likely slow the adoption rate due to the ________ of the innovation. A) relative advantage B) compatibility C) complexity D) divisibility E) communicability

C

Fred's faith in Asics, his favorite brand of running shoes, makes him consider other offerings introduced by Asics. Fred is not a risk-taker, and he tends to evaluate each new product carefully before adopting it. Fred is an opinion leader in his social networking community and best described as a(n) ________. A) lagging adopter B) innovator C) early adopter D) early mainstream adopter E) late mainstream adopter

C

________ are tradition-bound, suspicious of changes, and adopt an innovation only when it has become something of a tradition itself. A) Latent innovators B) Early adopters C) Early mainstream adopters D) Lagging adopters E) Late mainstream adopters

D

When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in ________ between business and consumer markets. A) types of decisions B) derived demand C) market structure D) the decision process E) nature of the buying unit

C

________ 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. A) Modified rebuy B) Straight rebuy C) New task buying D) Systems selling E) Supplier development

D

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? A) postpurchase behavior B) evaluation of alternatives C) information search D) need recognition E) purchase decision

E

Simone bought two bottles of wine from two vineyards in Bordeaux. When asked for an opinion on the quality of the wines, she later mentioned that the Pontet Canet tasted like alcoholic grape juice, but the Chateau Margaux had a crisp taste that she really enjoyed. Which of the following stages of the buyer decision process do Simone's remarks reflect? A) information search B) situational analysis C) evaluation of alternatives D) purchase decision E) postpurchase behavior

E

Which of the following is the means by which companies post purchase requests online and invite suppliers to bid for their business? A) extranet links B) intranet connections C) trading exchanges D) traditional procurement E) reverse auctions

E

________ is the degree to which the results of using an innovation can be observed or described to others. A) Relative advantage B) Compatibility C) Complexity D) Divisibility E) Communicability

E