question

people will buy one product over another because they perceive it have a better value

answer

true

question

The greater the difference between consumer's unsatisfied need and desired state, the greater the need recognition

answer

true

question

Satisfied customers spread positive word of mouth

answer

true

question

Situational factors override psychological and social factors in the consumer decision process

answer

true

question

Consumers who are involved in habitual decision making engage in little conscious decision making

answer

true

question

Consulting friends and family when making an important purchase

answer

external search for information

question

A reference group may have direct or indirect influence on your attitude toward a particular clothing store

answer

true

question

Marketers use principles and theories from sociology and psychology to better understand

answer

consumers actions to develop basic strategies for dealing with behavior

question

Consumer decision process model represents

answer

steps that consumers go through before , during, and after making purchases

question

The consumer buying process begins when

answer

a consumer recognizes an unsatisfied need

question

Karens dog having flees is an example of

answer

An unsatisfied need

question

Upscale clothing stores appeal to consumers personal gratification from products

answer

psychological needs

question

B2B marketing involves

answer

Manufacturers, wholesalers, and service firms

question

B2B buying process tends to be more formal than

answer

B2C buying

question

The final step in the b2b buying process is the

answer

formal vendor analysis

question

Organizational culture may vary by

answer

Geography

question

b2b marketing buying and selling by everyone except

answer

consumers

question

producing and selling steal to building constructors is

answer

b2b

question

Relying on another product to boost sales of your own is

answer

derived demand

question

Whether targeting consumers or resellers marketers need to focus on

answer

creating value for their customers

question

buy products from other businesses, do not alter the form of the product and sells to discount retailers

answer

resellers

question

A type of reseller

answer

wholesaler

question

Hospitals, schools, and religious organizations

answer

Institutional buyers

question

Marine Corps

answer

Government buyers

question

One of the largest purchasers of goods and services

answer

the central government

question

b2b and b2c begin with

answer

need recognition

question

b2b is more formal than

answer

b2c

question

b2b buyers ask potential suppliers to submit

answer

formal proposals

question

b2b buying decisions are often made by

answer

committees after considerate deliberation

question

After need recognition, a business develops

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product specifications

question

After need recognition and product specification many firms

answer

process a request for proposals from individual suppliers (RFP)

question

buyers invite suppliers to bid on items in the

answer

RFP stage

question

RFPs are usually posted to

answer

a website

question

After the RFP stage

answer

Firms will evaluate the proposals and narrow the choices to a few suppliers

question

discussing pricing, quality, and delivery schedules with potential suppliers

answer

vendor negotiation stage

question

after reviewing he order information you send

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an acknowledgment the order has been received

question

while consumers weigh postpurchase dissonance, business buyers conduct

answer

vendor analysis

question

Specify and weigh performance factors and score the vendors

answer

vendor analysis

question

several people who are responsible for making a purchase decision

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decider group

question

the first to hear about things and use new technologies

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influencers

question

First to start a new trend

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initiator

question

hands out paperwork and send out purchase order

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buyers

question

a set of unspoken guidelines of values, traditions, and customs

answer

culture

question

the decision process will involve reaching agreement among all members of the buying center

answer

consensus

question

not knowing the roles of key buyers in the buying process could

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waste time and alienate people

question

new buys, modified rebuys, and straight rebuys

answer

b2b buying situations

question

you dont need rfp for

answer

a straight rebuy

question

most complex and timely buying process and most likely to go through all 6 steps in the buying process

answer

new buy

question

the buyer has bought a similar product in the past but has decided to change some specifications current vendors are likely to have an advantage in getting the order

answer

modified rebuy

question

when the purchasing agent orders additional units of products that have previously been purchased satisfied with existing supplier

answer

straight rebuy

question

in established businesses the majority of purchases fall into the

answer

straight rebuy category

question

usually involves more members of the buying center and involves more time to complete than other buying centers

answer

new buys

question

the easiest buy for b2b sales people is the

answer

straight rebuy

question

majority vote

answer

democratic

question

sales and shipments to supermarkets

answer

distributor

question

designed to facitilitate information exchanges and transactions through

answer

web portals

question

tj maxx is an example of a

answer

reseller

question

prices and delivery dates are included in the

answer

order specification stage

question

most americans take access to global products and services

answer

for granted

question

the greater the wealth of the country

answer

the better opportunity they will have

question

the second largest economy and third largest market for us exports

answer

china

question

one of the fastest growing markets and youngest populations

answer

india

question

begins when a firm receives an order for its product from another country

answer

global expansion

question

segments and target markets can and should be defined by more than geography

answer

maximize potential

question

goods, services, capital, people, and ideas flow across borders

answer

globalization refers

question

signals a greater opportunity to export products to market markets

answer

trade surplus

question

most common measure of market potential of an economys country market value of goods and services produced in a country for a year

answer

GDP

question

GDP + Plus the net investment income earned from abroad

answer

Gross National Income

question

Novel measure of purchasing power

answer

Big MAc Index

question

if exchange rates re in equillibrium, products will cost the same

answer

in each country

question

GDP and GNI dont fully account for a countrys economic health bc they only account for

answer

material output

question

developing countries have

answer

zero or negative population growth

question

based on population growth rates in different regions countries with high purchasing power today might not continue to show the same growth rate

answer

in the future

question

the shift of population from rural to urban areas help global marketers implify the supply chain needed

answer

to make good and services available

question

legal,banking, and regulatory systems

answer

commercial infustructure

question

government actions that reduce competition from international firms

answer

changes in tarrifs and quotas

question

make imported products more expensive perceived unfair trade practices

answer

tariffs

question

limits the qantity of imported merchandise, thus minimizing competition faced by domestic products

answer

quota

question

exchange controls refer to regulations of countrys

answer

currency exchange rates

question

a group of countries that have established a formal agreement to manage trade activities

answer

trading block

question

the highest level of integration among participating nations

answer

EUC

question

Geert Hofstede's cultural dimensions concept focuses on five dimensions of

answer

underlying value

question

Hofstede's cultural dimensions to design marketing campaigns consistent with

answer

underlying cultural values in a country

question

underlying cultural values in a country

answer

cultural

question

firms entering foreign markets begin with

answer

less risky strategies first (exporting)

question

an order from another country

answer

global expansion

question

an order from another country

answer

joint venture

question

the greatest potential for risk

answer

direct investments

question

were uniquely positioned because they had the skills necessary to develop, promote, and market brand name consumer products

answer

large US firms in the 50s and 60s

question

dominated the global marketplace because they could exploit their skills in production, materials management, and new product development

answer

Japanese firms in the 70s and 80s

question

The most important consideration, when a firm chooses a global product strategy is

answer

the needs of the target market

question

Tariffs, quotas, and currency exchange policies affect global

answer

pricing strategies

question

global pricing strategies should be consistent with

answer

global positioning strategies

question

shorten distribution channels

answer

reduce costs

question

global marketers typically find distribution in developing countries is more complex because

answer

they must go through many different types of distribution channels

question

Companies can help to overcome language difficulties in using brands by

answer

developing brand names that are meaningless in known languages

question

higher levels of imports than exports

answer

trade deficits

question

manage and promote trade activities for the United States, Canada, and Mexico

answer

NAFTA

question

What do the BRIC countries have in common?

answer

They are experiencing significant levels of economic growth

question

is known for corruption, particularly bribe taking in business negotiations largest internet users

answer

Russia

question

infrastructure for supply chain management is not up-to-date

answer

India

question

population is aging rapidly median age of 34.1

answer

China

question

BRIC country has the highest illiteracy rate workforce is highly skilled, particularly in technology

answer

India

question

are a microcosm of the rest of the world. They are likely to be the source of most market growth.

answer

BRIC countries

question

measure how well they convert purchase intentions into actual purchases

answer

conversion rate

question

a purchase decision that calls for, at most, a moderate amount of time and effort

answer

limited problem solving

question

physiological risk

answer

safety risk

question

extended problem solving for high-priced or risky goods, and limited problem solving, which includes impulse buying and habitual decision making

answer

level of involvment

question

consist of salient attributes about a particular product category that are used to evaluate the attractiveness of different alternatives.

answer

evaluative criteria

question

The majority of B2B marketers use

answer

white papers

question

if the exchange rates of two countries are in equilibrium, a product purchased in one will cost the same in the other, if expressed in the same currency

answer

purchasing power parity

question

in many European countries, sales are allowed only

answer

2 times a year

question

the willingness to accept social inequality as natural.

answer

power distance

question

brands and stores that consumers can readily bring forth from memory.

answer

Retrieval sets

question

use one person to make a decision but solicit input from others in the process

answer

Consultative buying centers

question

a higher level of exports than imports, due to the greater opportunity to export products to more markets.

answer

trade surplus

question

customers are more likely to talk about

answer

bad experiences than good

question

needs are needs that enable people to fulfill their inner desires

answer

esteem

question

the perceived danger inherent in a poorly performing product or service

answer

performance risk

question

the alternative brands that the consumer states she would probably consider actually purchasing

answer

evoked set

question

the same product is sold in multiple countries but the promotion strategy is adjusted country by country

answer

glocalization

question

Goods, services, capital, people, information, and ideas can all flow across national boundaries due to

answer

globalization

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