Exam 6: Understand Consumer and Business Markets

Bob, a Pittsburgh native, thinks of his family as his wife, children, siblings, and parents. Marco, a Mexican immigrant, thinks of his family as a larger network including cousins and grandparents. This reflects a difference in cultural values.

What are the three psychological tools that shape perception?

Which of the following statements is true about customer relationships in business markets?

Americans value hard work and achievement while Japanese citizens value harmony and hierarchy. This shows a difference in ________ factors.

The process of business purchasing online is known as the e-chain.

Deciders are an important group for the salesperson to identify because ________.

In addition to culture, three factors are particularly relevant in consumer behavior. They are ________.

Business markets tend to concentrate in certain locations in the United States as a result of suppliers wanting to be located near their buyers.

Discuss the four e-procurement methods and give an example of when each might be used.

Any influence on the product and supplier choice is an organizational factor. The primary organizational factor is ________.

A ________ chain is the synchronized movement of goods through the channel.

Which of the following statements is TRUE about government purchases?

Paul is the groundskeeper for a golf course. He not only mows the greens and fairways but is also an expert on the grass that is used and how to care for it. The golf pro and club manager consult with him about what new equipment the club needs to maintain the greens. Paul plays the role of a(n) ________ in the buying process.

The most fundamental criterion in vendor selection is ________.

In the purchase process, once the company's needs have been identified and product specifications have been outlined, the next step would involve ________.

According to the model of the consumer decision process, the environmental forces that affect the consumer decision process include the value proposition, distribution, and marketing communications.

________ are all marketing activities that affect the consumer decision process.

While Ting was watching her favorite program, Housewives of Kankakee, she happened to see a political ad that told about a candidate's views on health insurance, and she decided she would vote for her. This represents high-involvement learning.

Delivering value to the customer is the core of marketing.

A modified rebuy may occur when a buyer is familiar with the existing product and supplier but may be looking for additional information. Perhaps new competitors or products have entered the market or the current supplier is not meeting expectations.