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55 terms

Questions from Quiz 2

STUDY
PLAY
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