Ashworth BM350 Exam 3

Question 1 of 20                                                                                                         5.0/ 5.0 Points

Ultimately, the amount of steel sold to General Motors depends on the consumers’ demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?

A. Derived demand

B. Inelastic demand

C. Geographic demand

D. Relational demand

Question 2 of 20                                                                                                         5.0/ 5.0 Points

The 80-20 rule reflects the idea that:

A. 20% of the company’s profits are generated by the top 80% of customers.

B. the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend.

C. 20% of customers are unprofitable, and 80% make up a company’s profits.

D. the top 20% of customers often generate 80% of the company’s profits.

Question 3 of 20                                                                                                         5.0/ 5.0 Points

__________ is based on the premise that marketers can no longer use “interruption marketing” via mass media campaigns.

A. Relationship marketing

B. Permission marketing

C. Database marketing

D. Internet marketing

Question 4 of 20                                                                                                         5.0/ 5.0 Points

__________ portrays the “whole person” interacting with his or her environment.

A. Attitude

B. Personality

C. Lifestyle

D. Self-concept

Question 5 of 20                                                                                                         5.0/ 5.0 Points

Which of the following is a stage in a straight rebuy situation?

A. Problem recognition

B. General need description

C. Product specification

D. Supplier search

Question 6 of 20                                                                                                         5.0/ 5.0 Points

With the __________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.

A. conjunctive

B. lexicographic

C. elimination-by-aspects

D. primary

Question 7 of 20                                                                                                         5.0/ 5.0 Points

On an online __________, prices change by the minute.

A. buying alliance

B. barter market

C. systems seller

D. spot market

Question 8 of 20                                                                                                         5.0/ 5.0 Points

__________ refers to the manner in which consumers code, categorize, and evaluate financial outcomes of choices.

A. Cost accounting

B. Financial accounting

C. Behavioral accounting

D. Mental accounting

Question 9 of 20                                                                                                         5.0/ 5.0 Points

Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called:

A. market partitioning.

B. brand association.

C. market valuation.

D. market estimation.

Question 10 of 20                                                                                                       5.0/ 5.0 Points

At the top of Maslow’s hierarchy of needs (shown as a pyramid in the textbook) are __________ needs.

A. esteem

B. self-actualization

C. social

D. safety

Question 11 of 20                                                                                                       5.0/ 5.0 Points

__________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering.

A. Total customer cost

B. Total customer benefit

C. Total benefits of ownership

D. Value proposition

Question 12 of 20                                                                                                       5.0/ 5.0 Points

A(n) __________ group is one whose values or behavior an individual rejects.

A. aspirational

B. disassociative

C. membership

D. primary

Question 13 of 20                                                                                                       5.0/ 5.0 Points

The __________ approach to consumer research asks customers to attach a monetary value to alternative levels of a given attribute. The value of a given configuration is determined by adding the average values of each of the given attributes.

A. benchmarking

B. compositional

C. importance rating

D. focus-group

Question 14 of 20                                                                                                       5.0/ 5.0 Points

In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the __________ stage.

A. problem recognition

B. general need description

C. order-routine specification

D. performance review

Question 15 of 20                                                                                                       5.0/ 5.0 Points

__________ teaches marketers that they can build demand for a product by associating it with strong drives, using motivating cues, and providing positive reinforcement

A. Demand theory

B. Learning theory

C. Economic theory

D. Psychological theory

Question 16 of 20                                                                                                       5.0/ 5.0 Points

A company’s __________ includes all the experiences the customer will have on the way to obtaining and using the offering.

A. value proposition

B. value delivery system

C. customer-value analysis

D. total customer benefit

Question 17 of 20                                                                                                       5.0/ 5.0 Points

The __________ says people have a general tendency to attribute success to themselves and failure to external causes

A. availability heuristic

B. trait-role theory

C. awareness set

D. hedonic bias

Question 18 of 20                                                                                                       5.0/ 5.0 Points

Brands that meet consumers’ initial buying criteria are called the:

A. total set.

B. awareness set.

C. consideration set.

D. choice set.

Question 19 of 20                                                                                                       5.0/ 5.0 Points

__________ is a key industrial marketing strategy in bidding to build large-scale industrial products such as dams, pipelines, etc.

A. Systems contracting

B. Systems buying

C. Systems selling

D. Solutions buying

Question 20 of 20                                                                                                       5.0/ 5.0 Points

In the purchasing decision process, the major role of __________ is in selecting vendors and negotiating.

A. gatekeepers

B. buyers

C. initiators

D. approvers