The business-to-business buying process is initiated by which of the following steps? Where Caroline grew up, everyone knew everyone else, no one locked the doors on their house, and a persons word could be trusted. Ricks company faces __________ demand. Jordana is basing her decision on. Colin wants information about the infrastructure in the countries his company is planning to export to. China drastically restricts the goods it allows U.S. companies to export to China. In B2B buying systems decisions are often made. He has a database with their birthdays, and offers them free meals on their birthdays. False. He does not want to take a lot of risk and he is willing to limit his control of international stores. When the floor rusted through on her old car, Kelly knew she had a problem. Roberta works out at a health club, goes to yoga classes and reads magazines about womens health in order to satisfy her inner desires. Which country has a large literate population which has helped it move up to become the world's seventh largest economy? She knows Caribou has been in business for many years, but she has not been able to get any business from them. A firms _____ reflects the set of values, traditions, and customs that guide its employees behavior. Marketing Quiz 2 Flashcards | Quizlet Firms attempt to respond quickly to complaints, hoping to. The B2B buying process tends to be more formal than B2C buying. Many specialty portals have been created to serve specialized needs. It is usually described in traits such as self-confidence, dominance, sociability, autonomy, defensiveness, adaptability, and aggressiveness. Yes; the sales rep might learn about a new opportunity in the need recognition stage. The same product design and features, and the same basic promotional campaign, used in all countries. 72. China is now the second-largest economy and the third-largest market for U.S. exports. entrees, and desserts not listed on their standard menu. Because the United States imports more goods than it exports, it operates under a(n). Which of the following would you NOT expect to find in the RFP? Marketers know this is an especially critical time as consumers deal with: Reginald greets and chats with his regular customers every morning when they come in for coffee. creating strong brands and store loyalty. Like many consumers, Glen engages in considerable alternative evaluation when buying habitual products like his Coke. entails actual rather than potential customers.E. carefully demonstrate how to maintain the finish on his cabinetsC. When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel:A.cognitive referral.B. Negative attitudes are typically difficult for marketers to change because. In a modified rebuy situation, __________ are likely to have an advantage in getting the order. Maslows Hierarchy of Needs includes physiological needs at the lowest level and self-actualization at the top. how consumers decide to make their purchases. What role does John play in this situation? Brands can be extremely valuable domestically, but international use can be challenging. The RFP process is used by buyers to allow customer input into value creation. the outcome of the alternative evaluation process. There are 3 possible postpurchase outcomes: Customer satisfaction o Marketers can take several steps to Which of the following is an example of a reseller? focus exclusively on the head of the buying center. Course Hero is not sponsored or endorsed by any college or university. Which global entry strategy has the highest degree of risk? avoiding the use of the brand name in advertising and focusing on feature and benefits. Over time, marketers have turned to the work of behavioral scientists, philosophers, economists, social psychologists, and others to help them understand consumer behavior. Marketers are particularly interested in postpurchase behavior because This is the most important, riskiest and most expensive decision she has ever made. E. provides insights on the information search process. Kerrys purchase represents, Whenever Meredith buys toothpaste, she always automatically reaches for the same brand and puts it in her shopping cart with no thought or effort. Which of Hofstedes cultural dimensions relates to a willingness to accept social inequality as natural? extend problem solving beyond ritual consumption. Marketers often use principles and theories from sociology and psychology to better understand consumers actions and. Satisfied customers, whom marketers hope to create, become loyal, purchase again, and spread positive word of mouth. Brad is observing part of his firms. D. entails actual rather than potential customers. plus the net investment income earned from abroad. C. avoids situational conflicts. Chris is gathering information about the general economic environment in Nepal. Globalization refers to the process by which goods, services, capital, people, and ideas. involves actual rather than potential customers. Population shifts are causing a decline in the percentage of people in the middle class. Firms attempt to respond quickly to complaints, hoping to, 69. Customer service therefore, would be considered a _____ for her in evaluating sporting good stores. Work with our consultant to learn what to alter. D. entails actual rather than potential customers. B Marketers are particularly interested in postpurchase behavior because it. To ensure that customers are satisfied, Darrell will likely do any of the following EXCEPT:A.let customers know they have the best quality cabinets available anywhere.B. Chinese consumers are not interested in purchasing products from the U.S. a country that exports more goods than it imports. the market value of goods and services produced in a country in a year. To avoid this potential problem, Ralph will evaluate all of marketing actions EXCEPT his:A.advertising.B. Americans often equate "bigger" with "better," and prefer larger cars, TV screens, homes even meals. Researchers suspect that in doing so, we are trying to reduce __________ risk in the consumer decision process. Perceived benefits versus perceived costs of search, Thanh has to decide which college to attend. by a committee after considerable deliberation. 62. involves both compensatory and noncompensatory consumers. Only about 200 million of these people earn more than the equivalent of $1,000 per year. A buying center whose members reach a decision based on a collective agreement is known as an autocratic buying center. Sometimes consumers have second thoughts after buying goods that are expensive, infrequently purchased, or associated with a high level of risk. always include his firm in their universal set. in the legal section of a local newspaper. Henri will engage in a(n) __________ process. chapter 6 marketing Flashcards | Chegg.com A __________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products. The Marketers are particularly interested in post-purchase behavior because it directly affects the long-term success of their product. The fact that a family would spend a lot more time researching the market before making a home purchase than it would in the decision to purchase an inexpensive dollhouse for the youngest member of household can best be explained which of the following concepts? distribution is more heavily regulated in developing countries. This site is using cookies under cookie policy . Joanna lives according to her own rules, unconcerned about designer labels, brand names, and luxury items. In this situation, these three attributes are called. visit customers after they have moved into their home. Consumer behavior refers to buyers who are purchasing products for personal, family, or group use. I got another big order, and they just keep on coming." Whenever she sells an expensive vacation package, she encourages the customer to buy travel insurance, which provides reimbursement in case of trip cancellation due to illness or another emergency. Economicmeasures like GDP and GNI do not fully account for a country's economic healthbecause they only measure: There are approximately 1 billion people living in India. They are the four countries known for the highest levels of bribery in business and government. There are approximately 1 billion people living in India. the value of a countrys exports minus its imports. When Kinkos replenishes its supply of copy paper, it most likely involves a _____ situation. B) image 2020-2023 Quizplus LLC. Manufacturers would prefer to produce in a country with a trade __________, because it signals a greater opportunity to export products to more markets. whether targeting consumers or resellers, marketers need to focus on. Which of the following is an example of a government buyer? Setting unrealistically high consumer expectation often leads to:A.ritual reversion.B. D) owly. $22 The global product strategy a firm chooses depends on, Although China represents one of the largest markets for soup in the world, Campbells Soup Company had to invest considerable time and effort in making changes to its existing products because Chinese people are accustomed to preparing their soup fresh. In the process of ______, companies initially develop products for niche or underdeveloped markets, and then expand them into their original or home markets. the global population is expected to grow at staggering rates indefinitely. For each unit sold, the price sellers receive after the tax (net of tax) is provides insights on the information search process. Diffusion Let us complete them for you. If she decides to purchase a sports car such as the Mustang, she will be primarily fulfilling __________ needs. In B2B markets, _____ are firms that buy and reprocess products (a product is a good or service) before selling them again to the next buyer. Global population growth is equally dispersed among nations. Which of the following best describes a situation where your new car stalls in the middle of a busy intersection? Raycoms engineers have been asked to provide detailed specifications and recommendations for the equipment needed. extend problem solving beyond ritual consumption.D. Which of Maslows needs is Roberta fulfilling? global consumer markets are almost totally homogeneous, making segmentation difficult. reinforce postpurchase cognitive dissonance. When Catherine was considering different brands of jeans to buy, she limited the choices to threeshe would actually consider purchasing. economic. D) owly. A) globe urban population centers will become increasing unattractive and the rural areas will experience major growth in population. developing brand names that have no preexisting meaning in any known language. focus attention on the gatekeeper in the buying centers team. When entering a foreign market, the least risky strategy is. Entering into a global franchise agreement exposes a company to higher risk than if the company had entered into direct investment in the country. postpurchase harmony.D. False. Most B2B buying situations can be categorized into three types: new buys, straight rebuys, and. A. India has no shopping malls or other large commercial centers. require business sellers to be consistent in their marketing mixes. If you visit a Kentucky Fried Chicken restaurant in China, along with KFC's regular menu items, you will find congee, a rice porridge that can feature pork, pickles, mushrooms, and preserved egg, on the menu. Alex decides to make a donation to the Autism Research Institute. Some websites provide allow consumers to shop while getting opinions from online friends. BMW, the German company that manufactures automobiles, motorcycles, and other products, owns and operates a manufacturing plant in Spartanburg, South Carolina in the United States. Fordham Hardware is known for its consensus buying center culture. Refer to Figure 4-8. Not knowing the roles of key players in the buying process could cause a sales representative to, While no one in the firm has discussed it, Brad notices everyone else seems to dress more casually on Fridays during the summer. Verified questions. Course Hero is not sponsored or endorsed by any college or university. Most firms maintain customer complaint services online, in the store, or over the telephone. Darrell hopes that satisfied customers will create word of mouth referrals for him. To derive a perceptual map, marketers follow six steps. This is an example of using a. customer loyalty (or disloyalty) answer What are the three possible positive post purchase outcomes? Few Russians have access to the Internet due to heavy regulation. Angela considered all sporting goods stores to be roughly equivalent in most ways, however, she considered LL Bean to have an exceptional level of customer service. Most firms maintain customer complaint services online, in the store, or over the, telephone. Russia is known for corruption, particularly bribe taking in business negotiations. are unaware of key determinant attributes. Firms typically repurchase office supplies (paper, ink cartridges, pens, etc.) Frazier is out of milk and bread and needs to decide what is for dinner. What do the BRIC countries have in common? Yes; straight rebuys require a lot of the sales reps assistance. temporal factors. Kindly login to access the content at no cost. After looking at several houses, they have developed a list of features that are important to them and that are different among the homes they have visited. Basket Weavers, Inc ships their prized bread basket to two countries (countries A and B) where the exchange rates are in equalibrium. Sandy thinks the east side of her city is a great area to own a home and raise a family. If Suzy purchases the basket in country A and her friend purchases in country B for the same price this is an example of which of the following metrics? Variations in the product design country by country, with the same basic promotional campaign used in all countries. With respect to buying centers, the pharmaceutical company plays the role of _____ in this situation. The architect probably serves as a gatekeeper in the buying center. psychological risk.D. The guidelines include recommendations for hard disk capacity, memory size, battery life, and several other attributes. Marketers are particularly interested in postpurchase - Course Hero promote products more frequently in traditional media. What role does Pedro play in the buying center? Many of the best-known American retailers, like Starbucks and McDonalds, have expanded globally using, Cory is working on a global marketing assessment team looking out well into the future to help determine the most attractive market areas around the world. Suppose that Volkswagen is preparing an RFP for a hands-free phone connection for a new car model. In _____ buying centers, all members of the team must reach a collective agreement that they can support a particular purchase. Which component of Alexs attitude toward autism research does this represent? She was, planning to expand into new markets, and she was, considering pricing. The same marketing mix for all of the four Ps used in all countries. the middle class in India will continue to shrink as the rich get richer and the poor get poorer. personally valuable, antique, or foreign-made. 10+ million students use Quizplus to study and prepare for their homework, quizzes and exams through 20m+ questions in 300k quizzes. spread positive word of mouth. Most B2B buying situations can be categorized as new buys, modified rebuys, and. psychological. The University will purchase new computers during the summer to update its computer labs. This is considered an external search for information. After a vendor is chosen, Reginald will handle the paperwork and send out the purchase order. I got another big order, and they just keep on coming." provide a satisfaction guarantee or return policy. declining fuel costs allowing cost-effective shipping to global markets. the sum of all goods and services handled in a country. In order to maximize potential, segments and target markets can and should be defined by more than just geography. When reviewing her firms business buying process, Carla noticed a company requirement that they have at least three qualified bids from suppliers for any purchase over $50,000. Satisfied customers, whom marketers hope to create, become loyal, purchase again, and spread positive word of mouth, so they are quite important. India claims more than 25% of the worlds population. Personality Researchers found that a number of well-known brands tended to be strongly associated with one particular trait, such as Jeep with "ruggedness." provides insights on the information search process. Unlock the answer question 1.) Kim is the sales representative for a major textbook publisher. Marketers Are Particularly Interested in Postpurchase Behavior Because It If a firm wants to conduct a country market analysis, it must look at major economic factors using well-established metrics. Frank acts as the __________ in the business department buying center. All of these are disadvantages a firm must consider. This is an example of the impact of __________ on the consumer decision process. All of these statements are true about web portals. consumers weigh performance risk against functional needs when assessing their attitudes. B. offers insights into ritual consumption. 80. Autocratic buying centers are characterized by. To ensure that customers are satisfied, Darrell will likely do any of the following EXCEPT: let customers know they have the best quality cabinets available anywhere. Marketers fear negative word of mouth because when consumers are dissatisfied, they, 68. Sales of electric components manufactured by Ricks company depend on sales of new cars. reducing financial risk and increasing psychological payout. This requirement is used to keep suppliers "on their toes.". When shopping for a car you notice a significant price gap between domestic and imported cars, with the imported cars being much more expensive. Ethan considered three important attributes when deciding where he would do his banking: the convenience of the location, hours of operation, and interest rates for CDs. Gerald is assessing global entry strategies for his gourmet sandwich business. Rachael is likely to be involved in an impulse buying process. issue a request for proposals from invited suppliers. About us; Ask an Expert; Studocu World University Ranking 2023; Which of the following is the process of getting oxygen from the environment to the tissues of the body? extend problem solving beyond ritual consumption. Sharon was considering. visit customers after they have moved into their home.E. This is an example of which global product strategy? Edward, the leading salesperson for Harrys Honda dealership, began hearing customers asking for hybrid automobiles several years ago. Jordana is trying to reduce her customers __________ risk. Bob Roberts founded Robertico, an equipment leasing company, three decades ago. The growth rate of the world population will remain relatively constant in the future. B. offers insights into information search methods.