Questions from Quiz 2

Created by ItsMeDward 

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55 terms

What is conceptual learning?

Observing how others react to the product

What is perception?

How we interpret the world around us

What the two basic sources of motivation?

Physiological and Psychological

Attitudes become more favorable over time. True or False?

False

This includes retail and wholesale businesses

Resellers

The goal of the professional buyer is to get the lowest purchase price. True or False?

False

What do we mean when we say demand for industrial goods is derived?

Consumers buy industrial goods indirectly when they purchase consumer goods that use industrial goods as components

The acceleration principle

Small changes in demand for the end product can make large changes in demand for component products

Make or Buy

Outsourcing

Selective Interpretation

(selective distortion) Confirmation bias, we see things that aren't there

Optimist-Pessimist is part of the myers-brigs personality inventory. True or False

False

How many advertising messages does a consumer receive?

2500

Are attitudes permanent?

No

Straight Rebuy

A situation in which the purchaser reorders the same goods or services without looking for other suppliers

Joint Demand

Two or more products are part of the final product

Governments

Largest single market for goods and services in the world

The familiarity effect is a consequence of

Selective Retention

What is an attitude?

A learned predisposition to respond to an object or a class of objects in a consistently favorable or unfavorable way

Dissociative Group

Not associated with a particular group

Who goes on the internet a lot?

Men

What is the least important influence on the consumer buying process

Advertising

Business Marketing

Marketing of goods and services to companies, gov'ts, or not-for-profit organizations other than consumption

Many of the consumption patterns we have for products are formed by the time we are how old?

16

Why did your instructor make the point that you can't just have "attitude"?

Because an attitude always has to be about something

What is the essence of the loss aversion principle discussed in class?

People will work harder to avoid a loss than they will to achieve an equivalent gain.

Aspirational Group

Heroes-Role Models

What is an influencer?

People who influence the buying decision. They often help define specifications and provide information for evaluating options.

Blogs are an important way for marketers to find..

Opinion Leaders

Modified Rebuy

Some reason to be dissatisfied with the current solution.

Subcultures can be powerful segmentation variables because people have more choice about the subcultures they choose to identify with. This means?

They are more likely to seek out products that affirm their membership in the subculture

What is the difference between a business customer and an individual consumer?

Mass marketing techniques are usually less cost effective in business marketing than in consumer marketing because there are fewer business customers than individual consumers

What is a Gatekeeper?

Group members who regulate the flow of information. The purchasing agent views the gatekeeping role as a source of his or her power. i.e. secretary who chooses which clients get to have appointments with someone

A person's food preferences, rituals, and even a sense of what is right and what is wrong can be strongly influenced by his/her..

Culture

What is a New Task Buy?

First time or one-time purchase which might be extensive problem solving

Why is an understanding of attitudes important to understanding consumer brands?

A brand is essentially an attitude about a product.

What is a social class?

consists of the relatively permanent, homogeneous divisions in a society into which people sharing similar values, interests, and behavior can be grouped.

Selective Attention

Ignoring things that are present.

To negotiate a price so low that the supplier actually loses money on each transaction is a motive for a business customer to purchase a product. True or false?

False

Ideal Self Image

How you would like to see yourself

Threshold level of perception is...

The MINIMUM difference in a stimulus that a person will notice

User

Members of the organization who will actually use the product. They often initiate the buying process and help define product specifications.

What is a reference group?

An actual or imaginary group that has a significant impact on a person's evaluations, aspirations or behavior.

Actual Self Image

How one sees herself

Current Price Data is information that is available to be categorized by NAICS codes. True or False?

False

Confirmation Bias is the result of:

Selective Interpretation

Producers

Business customers who purchase goods to incorporate them into other products

Self-Actualization

A higher-level need according to Maslow's hierarchy of needs

True or False: People will choose the first acceptable solution to a problem rather than choosing the best solution to a problem, according to the idea of cognitive miserliness.

True

All needs are equally motivating. True or False

False

Keiretsu

Japanese network of interlocking companies

ISO 1900 certification

Evidence that a company's quality management and assurance meets international standards

Basic needs such as Physiological and safety have to be satisfied before higher-level needs become motivators. True or False.

True

Personality Traits

Enduring Characteristics such as innovative-ness, self-confidence, sociability, which will vary from person to person

A rule of thumb is that one returned computer

wipes out the profit from the sale of two others

True or False: Human beings are rational in the economic sense of word and carefully evaluate the available information in order to make the best decision.

False

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