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Exam 6: Understand Consumer and Business Markets

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Question 41

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Microcultures are groups of consumers who identify with a specific activity or art form.

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Question 42

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The founder of the upscale shoe company Harry's Shoes Ltd. persuaded actors to wear prototypes of his company's shoes to the Oscars. This shoe company believed that the actors would be ________ for the company.

A) opinion leaders
B) heuristics
C) mass classes
D) stewards
E) subcultures

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Question 43

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Which of the following refers to the hundreds of millions of global consumers who now have a level of purchasing power that allows them to afford high-quality products offered by multinational companies?

Organizational markets differ from consumer markets in that organizational markets ________.

What is the difference between a subculture and a microculture?

To determine the best price for a first edition copy of a Stephen King novel with a dust jacket in mint condition, Jason would most likely use a(n) ________ to provide him with pricing information from all the bookstores that currently have the requested book in stock.

A ________ is a set of people a consumer wants to please or imitate.

Opinion leaders influence younger consumers but usually have little or no effect on adults seeking to make a major purchase.

________ purchases are much greater than ________ purchases, both in the quantity of items ordered and how much they cost.

When a consumer is determining her overall feelings or attitudes about a product after purchasing it, she is involved in the ________ step of the consumer decision-making process.

Which of the following statements about buying centers is true?

The group of people in the organization who participate in the purchase decision-making process is referred to as the ________.

________ often influence others' attitudes or behaviors because others perceive them as possessing expertise about a product.

Which of the following refers to the extent to which a person devotes mental-processing activity to a particular stimulus?

A consumer who is armed with information and is narrowing down his choices by comparing the pros and cons of each remaining option is in the ________ step of the consumer decision-making process.

________ do not actually produce goods, but they do provide their customers with time, place, and possession utility by making goods available when and where consumers want them.

Consumers use compensatory decision rules when they allow one weak or unattractive product attribute to be outweighed or offset by a strong or attractive product attribute.

________ is an internal state that drives consumers to satisfy needs.

Many businesses today are abandoning traditional business attire and allowing their employees to come to work in business casual that typically does not include ties, cufflinks, or business suits. There has been a decrease in the sale of silk ties as a result of this cultural trend. A decrease in consumer demand for silk ties has led to a decrease in demand for silk because the demand for silk is ________.

________ is the knowing component of attitudes. It is the beliefs or knowledge a person has about a product and its important characteristics.