MKT 1001 Chapters 7 and 8 Quiz

The five major stages of the consumer buying decision process, in order, are

Problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation

AMD buys silicone, which is used in its chip-making process. AMD produces microchips for use within a wide variety of products for other firms, such as Motorola, LG, and Samsung. AMD is a buyer in a(n) ____ market.

Producer

Henry Jennings of Jennings Pest Control buys equipment from Total Tools because Total Tools hires him to spray its warehouse for insects periodically. This practice is an example of

Reciprocity

Business customers today turn first to _____ to search for information and find sources for their product needs

The internet

The increase in government purchases has resulted partly from the increase in the number of services provided by the government

True

The time that a buyer has to make a purchase decision is a situational influence

True

Most business buying decisions are made by

A firm's buying center

When the city of Portland buys iPads for its restaurant inspectors to use during their visits, the purchase from Apple would be considered

A government purchase

Kira is interested in joining Alpha Gamma Delta's sorority. She begins to shop at Delphine's, a local store where the Alphas buy their clothes. She also asks her family for a new car because all the sorority members have new cars. In these instances, Kira is most influenced by

A reference group

If a person's interest in the product category is ongoing and long term, it is referred to as situational involvement

False

In an attempt to draw attention to its brand, a marketer may capitalize on figure-ground by using incomplete images, sounds, or statements in advertisements

False

The five-stage business buying decision process is used primarily for routine, straight rebuy purchases

False

The terms of sale (price, delivery, credit arrangements) are negotiated during the evaluation of alternatives stage of the consumer decision-making process

False

You recently raised your prices on the products you sell to your business customers. To your surprise, these customers did not change the amount of units they purchase from you. It was as if the price increase did not matter to these customers. Which of the following types of business demand most accurately describes this situation?

Inelastic demand

What stage of the consumer buying decision process comes after problem recognition?

Information search

In the consumer buying decision process, a buyer will search his or her memory for information about products that might solve the problem they have identified in the

Internal search

When Chaz realizes his liquor cabinet supply was devastated by last weekend's party, he first retrieves information from his memory about what types of liquor he and his friends like most and then asks the clerk at the liquor store what she would recommend. Chaz started with a(n) ____ search and then progressed to a(n) ____ search.

Internal; External

Which of the following statements about business buying is false?

Orders in business markets tend to be smaller than those placed in consumer markets

Amos's Produce Stand buys produce from area farmers, marks the merchandise up to a price that includes some profit, and then sells the fruit and vegetables to the people in and around Plum Creek. Amos's would be classified as part of a ____ market.

Reseller

Perception is a three-step process that involves

Selecting, organizing, and interpreting information inputs

Benedict is in the market for a new car. He believes that lately there have been more car ads than usual on TV. The need Benedict has is most likely driving which of the following phenomena?

Selective exposure

According to Maslow's hierarchy of needs, human beings have five levels of needs they are constantly seeking to satisfy. The need for love and affection is an example of one of humans' _________________ needs.

Social

During the search for products and evaluation of possible suppliers stage of the business buying decision process, marketers sometimes use ____ analysis to examine the quality, design, materials, and possibly item reduction in order to acquire the product in the most cost-effective way

Value

____ analysis is a systematic evaluation of current and potential suppliers that focuses on many dimensions including price, product quality, delivery service, product dependability, and overall company reliability

Vendor

The North American Industry Classification System includes all three NAFTA partners

True

Hannah, a working mother, has recognized the need for some sort of slow cooker so that she can spend less time preparing meals and more time with her family after work. She uses Google to research slow cookers online and learns that Consumer Reports ranks the Instant Pot the highest. Hanna's use of the Internet is

An external search

Cognitive, affective, and behavioral are the three major components of

Attitudes

The attitude toward the object model (known as the Fishbein model) consists of which three elements?

Beliefs about product attributes, the strength of beliefs, and the evaluation of beliefs

Marketing to businesses employs all the same concepts as marketing to consumers except

Buying methods

When business customers purchase products to be used directly or indirectly in the production of consumer goods and services, that demand for business products is

Derived

Precision Brake Company is a supplier of brake components to the manufacturers of lawn tractors and 4-wheel ATVs. It also sells its products to independent repair centers, dealers, and other wholesalers in the Northeast and Southern states. Precision Brake has done research on the demand for lawn tractors and found that most manufacturers are in the states of Kentucky, Tennessee, and Alabama. Research also shows that most of the dealers who sell directly to individual consumers are in the Midwestern states, while dealers who sell to small business landscaping companies tend to be located in the Northeastern states. Company executives are considering expansion of its distribution to markets in the Midwest. Last year, Precision Brake's sales to the manufacturers of lawn tractors declined, partially due to the fact that more consumers were hiring small landscaping businesses to cut their grass. This decline in sales for Precision Brake is an example of

Derived demand

For which of the following products would a consumer most likely use limited decision making?

Hair dryer

Madison goes to Kmart to purchase school supplies for her two children. As she is approaching the checkout counter, she sees a vase she just has to have and buys it immediately. Madison's purchase of the vase is an example of

Impulse buying

Mitchell's smartphone is two years old and he would like to have a new one. This time, he wants to make sure that it has a longer battery charge and better geographic coverage since he is traveling three days a week for his new job. Mitchell is most likely to use _____ for this purchase.

Limited decision-making behavior

Changing people's attitudes toward a firm and its marketing program is

Potentially a long, expensive, and difficult task that may require extensive promotional campaigns

When Bahama Breeze Ceiling Fans buys electrical wire for use in producing its ceiling fans, Bahama Breeze is part of what type of market for electrical wire?

Producer

Our society uses many factors, including occupation, educational level, income, wealth, religion, race, ethnic group, and possessions, to group people into

Social classes

An organization that decides to buy all of a certain part from the same company is using

Sole sourcing

Francis is the purchasing manager at Buddy's Auto Body and places orders for routine products such as office supplies and items needed for service and repair of vehicles. He typically purchases tools from the Snap-on dealer and orders a variety of nuts, bolts, and hardware from Grainger. He really likes purchasing from Grainger because he can utilize its website where he has an intranet portal to easily place orders and receive a company discount. Grainger makes it easy and convenient as well by providing a list of previously purchased items that Francis can select and simply click "reorder." What type of purchase process does Francis use when buying these items from Grainger?

Straight rebuy

Marketers must consider the different nationalities represented within the Hispanic and Asian-American subcultures because of the unique culture, history, and buying patterns of each ethnic group

True

Raw materials are especially affected by joint demand

True

The demand for many business products is inelastic at the industry level

True

Which of the following is NOT an example of a producer market member?

Buyers of finished products that intend to resell them for a profit

When shopping for detergent, Dylan looks at Arm & Hammer, Gain, Method, and Cheer and chooses the one that is on sale. These four brands make up his ____ set.

Consideration

A group of brands that a consumer views as alternatives for possible purchase is called a(n)

Consideration set

Both the Toyota Sienna and the Dodge Grand Caravan were very popular choices for family vans. Toyota noticed that the majority of its customers were families with 3 or more children, and so they developed commercials that featured larger families. They also produced commercials that featured Hispanic-looking actors and for some markets, in Spanish. Isabel Desario and her husband were currently shopping for a van for their family. As Isabel listened to television commercial about the Dodge Grand Caravan, she noticed that the Dodge cost about $27,000 and had gas mileage of about 17 mpg. She recalled an earlier ad for the Toyota Sienna, which also cost about $27,000, but had gas mileage of about 21 mpg. She also liked the way the family was portrayed in the Toyota ad, showing the children in the back seats having plenty of room, watching the DVD players, and having their own sound controls. When she spoke to Gabe, her husband, about how much she liked the Toyota van, he replied that its gas mileage was too low at only 16 mpg. Since Isabel didn't agree with that number, he produced a magazine ad that supported his claim of the 16 mpg for the Toyota. Isabel couldn't believe that she had made such an error in hearing what the gas mileage was for the Toyota and the Dodge. Since Isabel and Gabe were using gas mileage as one of their evaluative criteria, they are most likely in the ____ phase of the consumer buying process.

Evaluation of alternatives

The forces that other people exert on one's buying behavior are called social influences. These come from reference groups and opinion leaders, digital influences, social classes, culture and subcultures, roles, and

Family

Demand for business products is characterized as derived. From what is the demand derived?

Demand for consumer products

What is one of the benefits of industry classification systems like NAICS?

They provide a consistent means of categorizing industries

Which of the following entities is part of the buying center?

Users