Question 1

Alma and Tarvares see an ad for a new Sony LCD flat-panel television. Alma sees the ad as a high-quality television worth the money while Tarvares sees the ad as an overpriced television that does not warrant a premium price. What makes them see the same ad so differently?

Accepted Answer

A)   acceleration factors
B)   degrees of affiliation
C)   cognitive dissonance
D)   perception
E)   formalization

Question 2

The nature of B2B markets requires ________.

Accepted Answer

A)   impersonal communication at regular intervals through mediums such as direct mail
B)   investment of more resources primarily on service sectors
C)   organizations to invest more on consumers than suppliers to maintain their business
D)   a more personal relationship between the buyer and seller than in B2C markets
E)   companies to focus primarily on selling products that end up as components for finished goods

Question 3

It is said that B2B demand is more ________ in general than B2C demand for products or services.

Accepted Answer

A)   elastic
B)   bimodal
C)   inelastic
D)   systemic
E)   variable

Question 4

Keeping your hands in your pockets and looking at the clock are examples of positive nonverbal communication.

Accepted Answer

A) True 
 B)False

Question 5

Values, morals, and beliefs are all part of one's culture.

Accepted Answer

A) True 
 B)False

Question 6

An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way. Attitudes are seldom if ever neutral.

Accepted Answer

A) True 
 B)False

Question 7

The primary difference between selling to the profit-oriented market and the nonprofit market is that nonprofits ________.

Accepted Answer

A)   generally opt for a new purchase rather than a straight or modified rebuy
B)   have a more rational decision process
C)   place more emphasis on their business goals than performance specifications
D)   have a limited number of resources compared to their for-profit counterparts
E)   entail purchase decisions that often include an emotional component to them

Question 8

James is highly influenced by his work environment. He will most likely ________.

Accepted Answer

A)   go for a vacation at the same places as his coworkers
B)   avoid vacationing at the same places as his coworkers
C)   make different purchase decisions from his coworkers
D)   shop in locations that are not preferred by his coworkers
E)   wear clothes that set him apart from his coworkers

Question 9

Perception drives a person's attitudes, beliefs, motivation, and, eventually, his or her ________.

Accepted Answer

A)   values
B)   self-esteem
C)   performance
D)   behavior
E)   attention

Question 10

When people are concerned about the outcome of a process, they will spend more time acquiring information about product options and become more emotionally connected to the process and the decision by engaging in ________.

Accepted Answer

A)   high-involvement purchase
B)   high-involvement learning
C)   low-involvement purchase
D)   limited information search
E)   minimal information search

Question 11

The two fundamental approaches to learning are ________.

Accepted Answer

A)   coaching and listening
B)   trial and error and coaching
C)   coaching and conditioning
D)   conditioning and cognitive learning
E)   conditioning and trial and error

Question 12

________ is a set of unique personal qualities that produce distinctive responses across similar situations.

Accepted Answer

A)   Attitude
B)   Personality
C)   Ideology
D)   Lifestyle
E)   Mind-set

Question 13

Internal factors affecting consumer choices include personal characteristics and psychological attributes.

Accepted Answer

A) True 
 B)False

Question 14

In the purchase process, the purpose of outlining product specifications is ________.

Accepted Answer

A)   to identify purchase agents who are experts at preparing a request for proposal
B)   to guide potential suppliers
C)   to ensure people buy the product
D)   to clearly and concisely present the timeline for the steps leading to the final decision
E)   to ensure that the customer has accepted the value proposition

Question 15

________ criteria are a set of analyses and metrics grouped together to assess the cost of ownership.

Accepted Answer

A)   Financial
B)   Service
C)   Transactional
D)   End user
E)   Value

Question 16

Mike and Judy find out they are going to have a baby and realize their Infiniti G coupe has to be replaced with a more practical vehicle. They engage in a thorough information search by reviewing car magazines, soliciting opinions from friends and family, conducting online research, reading consumer reports, and test-driving a number of new cars and SUVs before making a final purchase decision. This is an example of extensive information search.

Accepted Answer

A) True 
 B)False

Question 17

Attitudes are learned or at least influenced by ________.

Accepted Answer

A)   new information
B)   customer touch points
C)   behavioral segmentation
D)   motivation
E)   formalization

Question 18

Mary pretends that she has a three-bedroom house with a minivan in the driveway, even though she lives in an apartment and takes the train to work. The three-bedroom house reflects Mary's real state.

Accepted Answer

A) True 
 B)False

Question 19

________ occurs when information is processed and added to long-term memory.

Accepted Answer

A)   Learning
B)   Cognitive dissonance
C)   Formalization
D)   Data mining
E)   Repositioning

Question 20

Companies like Home Depot sell to the B2B market and B2C market out of the same store. This puts the company in the category of a(n)  ________.

Accepted Answer

A)   gatekeeper
B)   reseller
C)   out supplier
D)   market maven
E)   cottage industry

Exam 6: Understand Consumer and Business Markets

Values, morals, and beliefs are all part of one's culture.

Correct Answer
verified

The primary difference between selling to the profit-oriented market and the nonprofit market is that nonprofits ________.

Correct Answer
verified

________ occurs when information is processed and added to long-term memory.

Correct Answer
verified

In the purchase process, the purpose of outlining product specifications is ________.

Correct Answer
verified

Correct Answer
verified

Keeping your hands in your pockets and looking at the clock are examples of positive nonverbal communication.

Correct Answer
verified

The two fundamental approaches to learning are ________.

Correct Answer
verified

________ criteria are a set of analyses and metrics grouped together to assess the cost of ownership.

Correct Answer
verified

An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way. Attitudes are seldom if ever neutral.

Correct Answer
verified

Companies like Home Depot sell to the B2B market and B2C market out of the same store. This puts the company in the category of a(n) ________.

Correct Answer
verified

Attitudes are learned or at least influenced by ________.

Correct Answer
verified

Internal factors affecting consumer choices include personal characteristics and psychological attributes.

Correct Answer
verified

James is highly influenced by his work environment. He will most likely ________.

Correct Answer
verified

Mary pretends that she has a three-bedroom house with a minivan in the driveway, even though she lives in an apartment and takes the train to work. The three-bedroom house reflects Mary's real state.

Correct Answer
verified

________ is a set of unique personal qualities that produce distinctive responses across similar situations.

Correct Answer
verified

Alma and Tarvares see an ad for a new Sony LCD flat-panel television. Alma sees the ad as a high-quality television worth the money while Tarvares sees the ad as an overpriced television that does not warrant a premium price. What makes them see the same ad so differently?

Correct Answer
verified

When people are concerned about the outcome of a process, they will spend more time acquiring information about product options and become more emotionally connected to the process and the decision by engaging in ________.

Correct Answer
verified

The nature of B2B markets requires ________.

Correct Answer
verified

Perception drives a person's attitudes, beliefs, motivation, and, eventually, his or her ________.

Correct Answer
verified

It is said that B2B demand is more ________ in general than B2C demand for products or services.

Correct Answer
verified

Exam 6: Understand Consumer and Business Markets

Values, morals, and beliefs are all part of one's culture.

Correct AnswerverifiedShow Answer

The primary difference between selling to the profit-oriented market and the nonprofit market is that nonprofits ________.

Correct AnswerverifiedShow Answer

________ occurs when information is processed and added to long-term memory.

Correct AnswerverifiedShow Answer

In the purchase process, the purpose of outlining product specifications is ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Keeping your hands in your pockets and looking at the clock are examples of positive nonverbal communication.

Correct AnswerverifiedShow Answer

The two fundamental approaches to learning are ________.

Correct AnswerverifiedShow Answer

________ criteria are a set of analyses and metrics grouped together to assess the cost of ownership.

Correct AnswerverifiedShow Answer

An attitude is a learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way. Attitudes are seldom if ever neutral.

Correct AnswerverifiedShow Answer

Companies like Home Depot sell to the B2B market and B2C market out of the same store. This puts the company in the category of a(n) ________.

Correct AnswerverifiedShow Answer

Attitudes are learned or at least influenced by ________.

Correct AnswerverifiedShow Answer

Internal factors affecting consumer choices include personal characteristics and psychological attributes.

Correct AnswerverifiedShow Answer

James is highly influenced by his work environment. He will most likely ________.

Correct AnswerverifiedShow Answer

Mary pretends that she has a three-bedroom house with a minivan in the driveway, even though she lives in an apartment and takes the train to work. The three-bedroom house reflects Mary's real state.

Correct AnswerverifiedShow Answer

________ is a set of unique personal qualities that produce distinctive responses across similar situations.

Correct AnswerverifiedShow Answer

Alma and Tarvares see an ad for a new Sony LCD flat-panel television. Alma sees the ad as a high-quality television worth the money while Tarvares sees the ad as an overpriced television that does not warrant a premium price. What makes them see the same ad so differently?

Correct AnswerverifiedShow Answer

When people are concerned about the outcome of a process, they will spend more time acquiring information about product options and become more emotionally connected to the process and the decision by engaging in ________.

Correct AnswerverifiedShow Answer

The nature of B2B markets requires ________.

Correct AnswerverifiedShow Answer

Perception drives a person's attitudes, beliefs, motivation, and, eventually, his or her ________.

Correct AnswerverifiedShow Answer

It is said that B2B demand is more ________ in general than B2C demand for products or services.

Correct AnswerverifiedShow Answer

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