Question

QUESTION 11

1. With regard to business products, which of the following statements is true of major equipment?

   	a.	It is generally marketed by local industrial distributors.
   	b.	It is sold through a longer distribution channel than accessory equipment.
   	c.	It is less expensive and shorter-lived than accessory equipment.
   	d.	It is often custom designed for each customer according to requirements.

4 points   

QUESTION 12

1. Joshua is a millionaire, and he manages several successful companies. He usually interacts with people of similar status. Given this information, Joshua and the people he interacts with are part of a _____.

   	a.	social class
   	b.	popular culture
   	c.	family
   	d.	reference group

4 points   

QUESTION 13

1. Which strategy would a marketing manager most likely use to increase the sales of a high-involvement product?

   	a.	Create advertisements that give consumers all the necessary information to make the purchase decision.
   	b.	Offer coupons, small discounts, and two-for-one deals on the product.
   	c.	Link the product to a lower-involvement issue to create publicity.
   	d.	Focus on the package design of the product so that it will be eye catching and easily recognized on the store shelf.

4 points   

QUESTION 14

1. Lauren buys groceries every month from Walmart and rarely does much research on the products she buys. What is the marketing term for this type of consumer behavior?

   	a.	Enduring involvement
   	b.	Extensive decision making
   	c.	Emotional involvement
   	d.	Routine response behavior

4 points   

QUESTION 15

1. Ramelson Inc., a sporting goods footwear and apparel company, features photographs of celebrities wearing its brand of clothing and sports gear. The company launched a commercial for its new line of football cleats. This commercial featured famous football stars as it believes that celebrities can influence customers’ buying decisions. In this case, the football stars served as _____.

   	a.	aspirational reference groups
   	b.	opinion leaders
   	c.	non aspirational reference groups
   	d.	decision makers

4 points   

QUESTION 16

1. A group of brands that results from an information search that a buyer can choose among is referred to as the buyer’s ________________________.

   	a.	planned set
   	b.	evoked set
   	c.	internal set
   	d.	external set

4 points   

QUESTION 17

1. In the consumer decision making process, _____ extends customer interactions to new sources of value, such as related products or partnered businesses.

   	a.	automation
   	b.	contextual interaction
   	c.	proactive personalization
   	d.	journey innovation

4 points   

QUESTION 18

1. With regard to business customers, which statement is true of institutions?

   	a.	They are buying units that account for the greatest volume of purchases of any customer category.
   	b.	They are nonbusinesses in the business markets that seek to achieve goals other than the standard business goals of profit.
   	c.	They are organizations that buy finished goods and resell them for a profit.
   	d.	They are profit-oriented companies that use purchased goods to incorporate into other products.

4 points   

QUESTION 19

1. Companies selling to business buyers face the same challenges as all marketers of goods and services, including determining __________.

   	a.	the attractive offers of the products to buyers
   	b.	supply chain efficiency
   	c.	the activity of organizing the movement to reach end customers
   	d.	the target market and deciding how best to reach it

4 points   

QUESTION 20

1. Leo buys 5 million sheets of paper from a vendor for his printing firm. He is satisfied with the product, and he orders the same quantity from the same vendor every week. This is most likely an example of a(n) _____.

   	a.	straight rebuy
   	b.	new buy
   	c.	modified rebuy
   	d.	initial buy

Answer 1

Question 11: Option D

Explanation: Business products are the things and materials that people require which includes furnishing their homes, supplies for schools, factories, etc., and hence they are mostly custom designed based on the requirements of the individual customers.

Question 12: Option A

Explanation: Social class is a model of stratification which is divided based on social or economic status. They are also determined based on the occupation, education, influences, etc.,

Question 13: Option A

Explanation: Advertisements are the main focus of the marketing managers especially to attract new potential customers. Advertisements that are furnished with all the relevant details of the product draw the attention of the individual who is looking forward to buying a similar product.

Question 14: Option D

Explanation: As Lauren is involved in the purchase activity in a periodic manner, she exhibits a routine response behavior because of which she does not involve much in researching the other available options. Such types of customers and well maintained in order to motivate them to have a long term relationship.

Question 15: Option B

Explanation: An opinion leader is a well-known individual or organization who is usually from sports, business, politics, celebrities, etc., and has the ability to influence other people in using the product or service that they promote.

Question 16: Option B

Explanation: Evoked set is defined as the brands that immediately pop up in the mind when an individual thinks of purchasing a product. For example, if we want to but a guitar, and if Yamaha and Ibanez come in the mind, then these two brands are in the evoked set.

Question 17: Option D

Explanation: Journey Innovation is the process of transforming an idea to a product or service that flows through curiosity and creativity of an individual and thereby adds value to their lives. This makes them engage in other related products or partnered businesses.

Question 18: Option B

Explanation: Institutions are nonbusiness entities in the business market who seek to achieve a different set of goals that are mostly not related to profit-making.

Question 19: Option D

Explanation: The target market is an important factor for the business to business marketers as well because they need to select the appropriate market that suits the product and the appropriate marketing strategy similar to the usual marketers in order to sustain in the business.

Question 20: Option A

Explanation: A straight rebuy refers to the situation in which the purchaser does not look for new information or spend time investigating other similar suppliers but instead reorders the same goods with the usual quantity.  

(Your opinion matters!! Kindly leave an Up-vote if you are happy with the answer.)