Question 1

How have marketers responded to an increasing sense of time poverty among consumers?

Accepted Answer

More and more people feel pressed for time and look for products and services that help them save time. In response, marketers offer services such as online shopping and express lines at supermarkets.

Question 2

Which of the following make up the largest single business and organizational market in the United States?

Accepted Answer

A)   raw material markets
B)   producer markets
C)   not-for-profit markets
D)   e-commerce markets
E)   government markets E

Question 3

A participant in a buying center can only assume one role for any single purchase decision.

Accepted Answer

A) True 
 B)False  False

Question 4

In what type of purchase would one person most likely assume all or most buying center roles?

Accepted Answer

The answer of In what type of purchase would one...

Question 5

According to Maslow's hierarchy of needs, a person is concerned with fulfilling basic physiological needs before he is concerned with fulfilling social or psychological needs.

Accepted Answer

A) True 
 B)False

Question 6

________ refers to how positive a person's ________ is.

Accepted Answer

A)   Personality; psychography
B)   Affect; attitude
C)   Attitude; affect
D)   Self-concept; self-esteem
E)   Self-esteem; self-concept

Question 7

A consumer identifies evaluative criteria during the ________ step of the consumer decision-making process.

Accepted Answer

A)   problem recognition
B)   information search
C)   evaluation of alternatives
D)   product choice
E)   postpurchase evaluation

Question 8

Pat thought he had received the best deal on his new car. Shortly after the purchase, Pat started to notice certain disadvantages of his new car as he learned more about other cars. Pat was experiencing ________.

Accepted Answer

A)   perceived risk
B)   multitasking
C)   cognitive dissonance
D)   compensatory decision making
E)   consumerism

Question 9

The cognition component of a person's attitude would typically be more influential than the affect component for purchases such as scented candles, bath salts, and luxurious towels.

Accepted Answer

A) True 
 B)False

Question 10

Business marketers have a broader customer base and a larger number of buyers compared to consumer marketers.

Accepted Answer

A) True 
 B)False

Question 11

Suppliers are more likely to stay price competitive when the purchasing company uses single sourcing than when it uses multiple sourcing.

Accepted Answer

A) True 
 B)False

Question 12

________ is the step of the decision-making process in which the consumer checks her memory and surveys the environment to identify what options might solve her problem.

Accepted Answer

A)   Product evaluation
B)   Behavioral targeting
C)   Problem recognition
D)   Problem screening
E)   Information search

Question 13

A belief that your family is more important than your job is an example of a cultural value.

Accepted Answer

A) True 
 B)False

Question 14

Cognitive learning theories assume that ________.

Accepted Answer

A)   learning occurs when people realize their actions result in rewards or punishments
B)   learning takes place as the result of connections we form between events
C)   the most important component of learning is directed by cognition
D)   people are problem solvers who do more than passively react to associations between stimuli
E)   the individual takes a passive role during the learning process

Question 15

In terms of the buyclass framework, the purchase of paper towels and toilet paper to restock an employee restroom would be an example of a modified rebuy.

Accepted Answer

A) True 
 B)False

Question 16

Purchase decision making usually begins with information search and then moves to evaluation of alternatives.

Accepted Answer

A) True 
 B)False

Question 17

The product alternatives a customer seriously considers are referred to as the ________.

Accepted Answer

A)   compensatory set
B)   determinant set
C)   evoked set
D)   consideration set
E)   evaluative criteria

Question 18

PPG Industries is a producer of glass for windows. It likely sells its products in the consumer market.

Accepted Answer

A) True 
 B)False

Question 19

An attitude is ________.

Accepted Answer

A)   an internal state that drives us to satisfy needs
B)   the process by which people select, organize, and interpret information from the outside world
C)   a change in behavior caused by information or experience
D)   a lasting evaluation of a person, object, or issue
E)   the set of unique psychological characteristics that consistently influence the way a person responds to situations in the environment

Question 20

What are the steps in the business-to-business buying decision process? Discuss how they are different from the steps in the consumer decision process.

Accepted Answer

The answer of What are the steps in the business-to-business...

Exam 6: Understand Consumer and Business Markets

How have marketers responded to an increasing sense of time poverty among consumers?

Which of the following make up the largest single business and organizational market in the United States?

A participant in a buying center can only assume one role for any single purchase decision.

In what type of purchase would one person most likely assume all or most buying center roles?

According to Maslow's hierarchy of needs, a person is concerned with fulfilling basic physiological needs before he is concerned with fulfilling social or psychological needs.

refers to how positive a person's is.

A consumer identifies evaluative criteria during the ________ step of the consumer decision-making process.

Pat thought he had received the best deal on his new car. Shortly after the purchase, Pat started to notice certain disadvantages of his new car as he learned more about other cars. Pat was experiencing ________.

The cognition component of a person's attitude would typically be more influential than the affect component for purchases such as scented candles, bath salts, and luxurious towels.

Business marketers have a broader customer base and a larger number of buyers compared to consumer marketers.

Suppliers are more likely to stay price competitive when the purchasing company uses single sourcing than when it uses multiple sourcing.

________ is the step of the decision-making process in which the consumer checks her memory and surveys the environment to identify what options might solve her problem.

A belief that your family is more important than your job is an example of a cultural value.

Cognitive learning theories assume that ________.

In terms of the buyclass framework, the purchase of paper towels and toilet paper to restock an employee restroom would be an example of a modified rebuy.

Purchase decision making usually begins with information search and then moves to evaluation of alternatives.

The product alternatives a customer seriously considers are referred to as the ________.

PPG Industries is a producer of glass for windows. It likely sells its products in the consumer market.

An attitude is ________.

What are the steps in the business-to-business buying decision process? Discuss how they are different from the steps in the consumer decision process.