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Reference groups are important to Marketers because...

They serve as information sources and influence perceptions

Which of the following statements about the result of cognitive miserliness is TRUE?

People will choose the first acceptable solution to a problem rather than choosing the best solution to a problem

What is the NAICS?

All of these are the NAICS.

A ____________ is a set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next.

Culture

Which of the following is NOT a motive for a business customer to purchase a product?

To be able to boast to his colleagues about how he is the best purchasing agent in the company.

In a ___________, a seller puts an item up for sale and would-be buyers are invited to bid in competition with each other.

traditional auction

One of the ways personality is useful to marketers is to identify key ___________, or enduring characteristics such as innovativeness, self-confidence, sociability, which will vary from person to person.

Personality traits

Which of the following statements about motivation is FALSE?

All needs are equally motivating

The Myers-Briggs personality inventory is one typology discussed in class. Which of the following is NOT one of the dimensions of the Myers Brigs personality inventory?

Optimist-pessimist

_____________ are business customers who purchase goods to incorporate them into other products

Industrial Markets

In a(n) ___________, as more bidders become involved there is downward pressure on prices.

reverse auction

What is ISO 9000 certification?

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

Which of the following statements about Maslow's Hierarchy of Needs is TRUE?

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

Which of the following would be considered a higher-level need according to Maslow's hierarchy of needs?

Self Actualization

Which of the following is NOT a motive for a business customer to purchase a product?

To negotiate a price so low that the supplier actually loses money on each transaction.

Which of the following statements about attitudes is FALSE?

Attitudes become more favorable over time

According to your textbook, two general types of online auctions are?

traditional, reverse

_____________ are business customers who seek to achieve goals other than the standard business goals of profit or market share

Institutions

Confirmation bias recognizes that people will be more likely to believe someone who agrees with what they already think than someone who disagrees with what they think. Confirmation bias is the result of:

Selective interpretation

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