Exam 5: Understanding Consumer and Business Buyer Behavior

Explain the major influences on business buyer behavior.

The management team at Riceborough Farms recently invested thousands of dollars in setting up wind energy units across its property,believing that this would enable the Farms to become self-sufficient in energy production.However,a year into the project,it was noted that the wind-powered systems did not produce much energy,and the Farms used almost as much conventional energy as before.Which of the following,if true,would reduce the cognitive dissonance felt by the management team at Riceborough?

A marketing research company asked members of a focus group to describe several motorcycle brands as animals.This is an example of ________.

A company regularly purchases cleaning supplies for its cleaning staff,using the same vendor and ordering relatively consistent amounts of the same products with each purchase.This is an example of a ________ situation.

________ is the degree to which the results of using the innovation can be observed or described to others.

People tend to interpret new information in a way that will support what they already believe.This is called ________.

Cultural factors exert a broad and deep influence on consumer behavior.The marketer needs to understand the role played by the buyer's culture,subculture,and social class.Compare the roles of culture,subculture,and social class.

________ is the degree to which the innovation appears superior to existing products.

________ are minor stimuli that influence where,when,and how a person responds to an idea.

The business buying process tends to be longer and more formalized than the consumer buying process.

Each role carries ________ reflecting the general esteem given to it by society.

Beliefs are based on opinion or faith,but not on real knowledge.

A ________ is a need that is sufficiently pressing to direct a person to seek satisfaction.

In vendor-managed inventory,the company turns over ordering and inventory responsibilities to their suppliers.

Explain why business demand is considered to be derived demand.

Simone purchased two bottles of wine from vineyards in Bordeaux.When asked her opinion of the wines,she said the Pontet Canet tasted like alcoholic grape juice,but the Chateau Margaux had a crisp taste that she really enjoyed.These statements were made during the ________ stage of the purchase decision.

Which of the following is an esteem need according to Maslow's hierarchy of needs?

Identify the product characteristics that influence the rate of adoption.Explain how each characteristic affects the rate of adoption.

The buying center is a fixed,formally identified unit within an organization.

Describe the buyer decision process.