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Marketing: Chapter 5

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Which of the following correctly defines the consumer market?

a. retailers who sell goods and services to consumers
b. individuals who spend more than $1000 a year on purchases
c. individuals and households that buy goods and services for personal consumption
d. manufacturers, retailers, and consumers
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Terms in this set (29)
Which of the following correctly defines the consumer market?

a. retailers who sell goods and services to consumers
b. individuals who spend more than $1000 a year on purchases
c. individuals and households that buy goods and services for personal consumption
d. manufacturers, retailers, and consumers
c. Individuals and households that buy goods and services for personal consumption
What are the four general characteristics that influence consumer purchases?
Cultural characteristics, social characteristics, personal characteristics, and psychological characteristics
The buyer decision process starts with _____________.
recognizing a need
What determines whether the buyer is satisfied or dissatisfied with a purchase?
The relationship between the consumer's expectations and the product's perceived performance
What are the five stages of the consumer adoption process in the correct sequence?
Awareness, trial, evaluation, interest, and adoption
What are the five characteristics that are especially important in influencing an innovation's rate of adoption?
Relative advantage, complexity, compatibility, divisibility, and communicability
Which of the following statements regarding the business market is correct?

a. many sets of business purchases are made for one set of consumer purchases.
b. the business market has more businesses than the consumer market.
c. the business market is not as large as the consumer market in terms of dollars spent and items purchased.
d. business buying decisions are less complex than consumer buying decisions.
e. demand in the business market is more elastic than demand in the consumer market.
a. Many sets of business purchases are made for one set of consumer purchases
Which type of business buying situation offers marketers the greatest opportunity but also the greatest challenge?
A new task situation
What are the eight steps in the business buying decision process in the correct sequence?
Problem recognition, general need description, product specification, supplier search, proposal solicitation, supplier selection, order-routine specification, and performance review.
In which step of the buying decision process is the final order with the chosen supplier developed?

a. order-routine specification
b. general need description
c. supplier selection
d. proposal solicitation
e. product specification
a. order-routine specification
____________ are part of the buyer's black box and produce certain responses.
Buyer characteristics
____________ is the stage of the buyer decision process in which the consumer uses information to review different brands in the choice set.
Alternative evaluation
In the ____________ stage, the consumer considers whether trying the new product makes sense.
evaluation
___________ is the stage of the buyer decision process in which the consumer is motivated to locate more information.
Information search
__________ is a person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.
Attitude