Globalization refers to the process by which goods, services, capital, people, and ideas. Manufacturers would prefer to produce in a country with a trade __________, because it signals a greater opportunity to export products to more markets. The final step of the business-to-business buying process is a formal vendor analysis. When developing her marketing strategy, Kimberly will probably assume that this represents a __________ situation for Caribou Coffee, and she will want to find out why Caribou is considering alternatives. A. Marketers are particularly interested in postpurchase behavior because it entails actual rather than potential customers. When she calls on the business faculty at General University, her first stop is to chat with Frank, the business department secretary. attitudes shift consumers from limited to extended problem solving situations. Most firms maintain customer complaint services online, in the store, or over the telephone. This E-mail is already registered as a Premium Member with us. Which of the following would you not expect to find in the RFP? When they occasionally see those clothes hanging in the back of their closet, these teenagers probably feel: ScholarOn, 10685-B Hazelhurst Dr. # 25977, Houston, TX 77043,USA. She carefully monitors the issuance of new home permits to anticipate how many appliances she will need to buy in order to supply her customers. Daniel sells specialty software designed to allow small insurance companies to manage customer data and claims. 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. Roberta works out at a health club, goes to yoga classes and reads magazines about womens health in order to satisfy her inner desires. Reginald hopes that this attention to his "regulars" will encourage them to. Basket Weavers, Inc ships their prized bread basket to two countries (countries A and B) where the exchange rates are in equalibrium. The United States wants to limit the amount of a product that can be imported into the country for a period of time by setting a maximum import quantity. Jordana is a travel agent. D. entails actual rather than potential customers. Consumers consider universal, retrieval, and evoked sets during which stage of the consumer decision process? The business will probably place a straight rebuy order. 71. Variations in the product design and the promotional campaign country by country. Colin wants information about the infrastructure in the countries his company is planning to export to. Like many consumers, Glen engages in considerable alternative evaluation when buying habitual products like his Coke. When they occasionally see those clothes, hanging in the back of their closet, these teenagers probably feel, 65. in the legal section of a local newspaper. B) image Where Caroline grew up, everyone knew everyone else, no one locked the doors on their house, and a persons word could be trusted. The vast majority of products and services are likely to satisfy, According to the consumer decision process, after consumers recognize the need for a product, they then engage in. Which of these is NOT a disadvantage of franchising? A description of the required features for the device. When a business customer engages in a straight rebuy, the member of the buying center most likely to be involved in the purchase is the. competitive post-purchase leverageD. Let us have a look at your work and suggest how to improve it! This will cause marketers to:A.demonstrate value in new ways, especially in justifying prices.B. To ensure that customers are satisfied after purchasing his software, Daniel could do all the following EXCEPT: create realistic expectations for his customers. What type of B2B organization is a retail store such as T.J. Maxx? This is considered an external search for information. If she decides to purchase a sports car such as the Mustang, she will be primarily fulfilling __________ needs. The Post-purchase behavior refers to the actions and reactions of a customer after they have purchased a product or service. consulting close friends and families before expanding the search to a wider, external group. the infrastructure is more advanced in most developing countries. Which global entry strategy has the highest degree of risk? I got another big order, and they just keep on coming." C) paperclip Marketers fear negative word of mouth because when consumers are dissatisfied, they, 68. True B. always include his firm in their universal set.C. Which of the following is a potential negative factor for foreign investment in China? 72. Kindly login to access the content at no cost. In group B_1 B1, 80% study more than 25 hours per week, and in group B_2 B2, 40% study more than 25 hours per week. Question 8 marketers are particularly interested in - Course Hero Henri will engage in a(n) __________ process. __________ factors, such as the purchase situation, often override or influence psychological and social issues influencing consumers purchase decisions. Marketers are particularly interested in postpurchase behavior because it entails actual rather than potential customers. This will cause marketers to: demonstrate value in new ways, especially in justifying prices. These influences on her spending decisions are all ________ influences. Which of the following is NOT one of the roles typically played by one of the members of a buying center? Frazier is out of milk and bread and needs to decide what is for dinner. Reginald knows his regular customers create repeat business and:A.assist him in meeting his functional needs.B. What role(s) do the sales reps play in the buying center? Which of the following is one of the global entry strategies? Markham Publishing is known for its consultative buying center culture. In terms of business markets, organizations like hospitals that provide goods and services to people in their care are classified as. These influences on her spending decisions are examples of. Setting unrealistically high consumer expectation often leads to:A.ritual reversion.B. Brad is trying to avoid __________ business blunders. Researchers suspect that in doing so, we are trying to reduce __________ risk in the consumer decision process. There are 3 possible postpurchase outcomes: Customer satisfaction o Marketers can take several steps to E. involves both actual and potential customers. increase financial risk.E. Jennifer's spending decisions are heavily influenced by her family, her peers, and her religious education. Which of the following is NOT one of the major trade agreements affecting global marketing? distribution is more heavily regulated in developing countries. The B2B buying process tends to be more formal than B2C buying. Andr was afraid his new condominium would look shabby to his future in-laws, so he had it painted just before their visit. Marketing Quiz 2 Flashcards | Quizlet keeping the brand name the same in all languages, regardless of meanings, as long as the brand logo and symbol are displayed prominently. provide a satisfaction guarantee or return policy.D. 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. Unlike manufacturers, __________ buy products from other businesses but do not significantly alter the form of the products they buy. A(n) __________ situation in B2B marketing is similar to limited problem solving in the B2C process. there are fewer franchising opportunities in global markets. using uncertainty avoidance to reduce power distance. Solved Marketers are particularly interested in postpurchase - Chegg D) owly. Satisfied customers, whom marketers hope to create, become loyal, purchase again, and spread positive word of mouth. Marketers know this is an especially critical time as consumers deal with:A.criteria re-evaluationB. For each unit sold, the price sellers receive after the tax (net of tax) is Few Russians have access to the Internet due to heavy regulation. Generally, people buy one product or service instead of another because they perceive it to be a better value. Although social media is used to build relationships, in the B2B context, the majority of B2B marketers use _____ for their marketing efforts. simplifying the supply chain needed to make goods and services available. Marketing 3310 - Ch. 6 Flashcards | Quizlet Course Hero is not sponsored or endorsed by any college or university. To derive a perceptual map, marketers follow six steps. C. avoids situational conflicts. Reginald plays the __________ in the buying center. They have financial resources, want to control business operations, and have had considerable success marketing to Hispanics in the United States. Should an office supplies sales rep stay in close touch with his/her current customers, and why or why not? Like marketers, political candidates who set expectations too low, could:A.tarnish voter's image of the candidate.B. I got another big order, and they just keep on coming." Which of the following is NOT one of the four factors affecting consumers search processes? focus attention on the gatekeeper in the buying centers team. Less-developed countries like Switzerland and Britain are experiencing rapid population growth. reduce the number of products and services open to purchase on internet portal sites.C. This is an especially critical time for marketers, as their customers are dealing with. Which of the following statements best describes global expansion through a strategic alliance? carefully demonstrate the software to his customer's staff.C. involves actual rather than potential customers. B. offers insights into ritual consumption. 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. For, McDonald's, the Golden Arches reduce marketing costs, because people (including young children), Many home design businesses volunteer to provide their, latest products for tours-of-homes fundraisers because, they know their new products will benefit from, A product is __________ that can be offered through a, Sharon knew that her established customers liked her, product much better than her competitor's. According to Maslow's Hierarchy, most of the other 800 million Indian consumers are primarily addressing their __________ needs. The BRIC countries are Bolivia, Russia, Italy and China. A. involves both compensatory and noncompensatory consumers. Edward, the leading salesperson for Harrys Honda dealership, began hearing customers asking for hybrid automobiles several years ago. Diffusion Let us complete them for you. stimulate impulse voting.D. The University will purchase new computers during the summer to update its computer labs. He will gather information about the transportation and communications capabilities in each country. During the early stages of globalization, in the 1950s and 1960s, _______________ were uniquely positioned because they had the skills necessary to develop, promote, and market brand name consumer products. Which component of Alexs attitude toward autism research does this represent? Raycom Construction needs heavy-duty equipment to install a new pipeline in northern Alaska. Kindly login to access the content at no cost. most consumers in developing countries live in densely populated cities. most governments have rules against targeting consumers. Firms typically repurchase office supplies (paper, ink cartridges, pens, etc.) Daniel knows satisfied customers will come back for software updates as the products and customer base changes. Marketers are particularly interested in postpurchase behavior because it. B) image extend problem solving beyond ritual consumption. Daniel sells specialty software designed to allow small insurance companies to manage customer data and claims. expensive, infrequently purchased, and associated with high levels of risk. James is probably concerned with __________ risk. Entering into a global franchise agreement exposes a company to higher risk than if the company had entered into direct investment in the country. situational. The most widely used metric used to gauge the size and market potential of an economy is _____ , which is defined as the market value of the goods and services produced by a country in a year. 78. About us; Ask an Expert; Studocu World University Ranking 2023; provide a hotline to immediately address customer feedback.E. through community debating organizations. Most B2B buying situations can be categorized into three types: new buys, straight rebuys, and. The guidelines include recommendations for hard disk capacity, memory size, battery life, and several other attributes. government actions that reduce competition from international firms. carefully demonstrate how to maintain the finish on his cabinetsC. creating strong brands and store loyalty. Exporting refers to a situation where a company maintains ownership of its plants, operational facilities, and offices in a foreign country in which it sells its products. The skydiving team's buying center has a(n) __________ organizational culture. Consider two groups of students: {B_1} B1, students who received high scores on tests, and B_2 B2, students who received low scores on tests. Which of the following global entry strategies is being used if a company collaborates with a competitor on a globally based opportunity for mutual benefit, but the competitors do not invest in each other? promote products more frequently in traditional media. psychologically soothing, purchased impulsively, and part of a consumers evoked set. Darrell sells custom cabinets for upscale residential homes. She has defined the . visit customers after they have moved into their homes. All Rights Reserved. To ensure that customers are satisfied after purchasing his software, Daniel could do all the following EXCEPT:A.create realistic expectations for his customers.B. External agencies and government bodies publish safety ratings for cars to help consumers alleviate _____ risk. For each unit sold, the price sellers receive after the tax (net of tax) is C. $27 Which of the following is currently a negative factor for foreign investment in India? Many specialty portals have been created to serve specialized needs. Leanne did not realize BigDeal has an autocratic buying center culture and she needed to focus on answering Beverlys questions, since she is the decision maker. Jordana is buying a laptop computer to take on trips. chapter 6 marketing Flashcards | Chegg.com Last semester, Henri bought his textbooks over the Internet and saved a considerable amount of money. carefully demonstrate how to maintain the finish on his cabinets. Personality Researchers found that a number of well-known brands tended to be strongly associated with one particular trait, such as Jeep with "ruggedness." Indias young people mostly live in rural areas in large families. Recognizing this corporate culture, someone attempting to sell to Fordham Hardware should. The business-to-business buying process is initiated by which of the following steps? 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. E) all of these. Andr was addressing his __________ risk. Firms prefer to manufacture in a country that has _____ because it signals a greater opportunity to export products to more markets. India prevents foreign investors from entering into joint ventures. Kim is the sales representative for a major textbook publisher. In this case, the source of need recognition was, Business-to-business marketing involves buying and selling goods or services by all of the following EXCEPT, When Goodwish Marketing decided to upgrade its network, many people were involved in the decision. temporal factors. D) involves actual rather than potential customers. He had been saving money for months, and he noticed his attitudes and perceptions about diamond rings changing as he began paying attention to ads for rings. C) paperclip personal selling techniques.C. Frank acts as the __________ in the business department buying center. No; this is a waste of time since straight rebuys are straightforward and easy to handle. _____ pertain to the personal gratification consumers associate with the product or service. personally valuable, antique, or foreign-made. This is an example of the impact of __________ on the consumer decision process. Population shifts are causing a decline in the percentage of people in the middle class. Unlock the answer question Sharon was considering. When Glen is thirsty, he always buys a Coke. C. avoids social, situational conflicts. In the consumer decision process, we decide how much time and effort to expend searching for information based partly on. The team's coach has invited all team members to make recommendations, after which he will select the successful vendor. Budweiser is well known for using humor in its ads for Bud Light beer. Post purchase cognitive dissonance 3.) Although he is now in his seventies, he still has a "hands on" management style. 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? False. Global businesses often find it particularly difficult to understand the __________ of a countrys culture. Indias population is fairly old and aging fast. whether targeting consumers or resellers, marketers need to focus on. A. social B. financial C. performance D. psychological E. physiological, Zappos online shoe and clothing store has a unique way of dealing with abandoned shopping carts. "Black Friday," as the day after Thanksgiving has come to be known in the U.S., is a day marked by many special deals in most retail stores, including deep-discounted products available in limited quantities, called "doorbusters," and designed to get shoppers into the store. 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. To make it more likely that his customers are satisfied, Darrell could do any of the following EXCEPT. This attention-getting device is designed to improve the site's, reductions or eliminations of trade barriers by governments, ecreasing concerns of distance and time with regard to moving products across countries, the standardization of laws across borders, assess her satisfaction with the car she purchased. Logically, Kelly's next step in the consumer decision process would be to: A key to successful marketing is determining how to meet the correct balance of __________ needs that best appeals to the firm's target markets. To avoid this potential problem, Ralph will evaluate all of marketing actions EXCEPT his:A.advertising.B. What is the final stage in the business-to-business buying process? Robertico has a(n) __________ buying center culture. Reginald knows his regular customers create repeat business and: assist him in meeting his functional needs. In terms of market size and population growth rate, which of the following is a trend that is occurring in the world market that impacts the marketing of goods and services? Recognizing this corporate culture, someone attempting to sell to Markham Publishing should. redefine determinant attributes. After need recognition and product specification, many firms using the B2B buying process. _____ involves the buyer considering their own personal knowledge about a product based on past experience. They are Asian countries experiencing explosive population growth. 79. Which of these trade agreements represents the highest level of integration among participating nations? The features on their list are called __________. This is an example of ______________. This site is using cookies under cookie policy . Many teenagers, both male and female, have clothes they purchased in the past that they "would not be caught dead in" today. Glocalization refers to a global marketing strategy in which each of the four Ps is customized for each country. a consumers performance risk is minimized. TheWall Street Journal is providing consumers with, Before flying, Jaden researches the types of planes the airline uses, scans the plane for defects as it taxis up to the terminal, and follows the pilot and crew as they come through the airport. Geert Hofstedes cultural dimensions concept focuses on five dimensions of __________ in a country. When Karen realized her dog had fleas, Karen had, Stuart wanted to impress Janet with the perfect engagement ring. the sum of all goods and services handled in a country. Companies can help to overcome language difficulties in using brands by. In order to maximize potential, segments and target markets can and should be defined by more than just geography. 2020-2023 Quizplus LLC. 2.1.2: Buying-Process Stages - Business LibreTexts when consumers decide to make their purchases. adhering to the UN Convention on Naming Rights. The president of the Northwoods University student body made a formal request to the IT department for additional computers in the main computer lab. Flashcards About Marketing Chapter 6 | StudyHippo.com Exchange controls refers to the regulation of a countrys, When firms pool their resources to enter a new market, they create a(n). Unlock the answer question 1.) customer dissatisfaction.C. The individual who controls the flow of information or access to important decision makers serves as the _____ in the buying center. In this situation, these three attributes are called. This requirement is designed to. According to purchasing power parity theory, if __________ is/are in equilibrium, products will cost the same in each country. Marketers are particularly interested in postpurchase - Course Hero They are experiencing significant levels of economic growth. Marketers frequently design customer relationship management programs to. Most B2B buying situations can be categorized as new buys, modified rebuys, and. When the floor rusted through on her old car, Kelly knew she had a problem. Mary will not consider purchasing an "American" car brand based on negative comments made by her parents; therefore, she has developed a negative attitude toward "American" brand cars. The Marketers are particularly interested in post-purchase behavior because it directly affects the long-term success of their product.. Brad is observing part of his firms. A buying center whose members reach a decision based on a collective agreement is known as an autocratic buying center. The traditional marketing strategy of selling umbrellas when it is raining is an example of how __________ factors influence consumers decisions. In which buying situation is the buyer most likely to proceed through all six steps in the buying process? Arnie knows habitual purchasers with strong store loyalty are great customers. An effective global pricing strategy can be easily established by setting the same prices in every market around the world. Jordana is trying to reduce her customers __________ risk. NCD company wants to expand into the Mexican market. Companies can help overcome language difficulties in using brands by. Chinas standard of living has dropped over the past 30 years. suggest that B2B sellers should develop one marketing mix to use for all situations. a. Which of the following details is/are included in the order specification stage of the B2B buying process? how consumers decide to make their purchases. The Marketers are particularly interested in post-purchase behavior because it entails actual rather than potential customers. In doing so, Anita is evaluating which component of the market assessment? Brenda wants a new car that will be dependable transportation and look good. In this stage of the business-to-business buying process, firms are likely to narrow their selection to a few suppliers, often those with which they have existing relationships, and discuss key terms of the sale. global consumer markets are almost totally homogeneous, making segmentation difficult. Americans often equate "bigger" with "better," and prefer larger cars, TV screens, homes even meals. D. involves actual rather than potential customers. A buying center that makes its decisions by majority vote is a(n) __________ buying center. The first stage of the B2B buying process is. offers insights into ritual consumption.C. Which statement about Indias population is TRUE? The Marketers are particularly interested in post-purchase behavior because it entails actual rather than potential customers.. Nathan was shopping for a new pair of athletic shoes. an indicator of the quality of life in a country. examining personal memories and knowledge. business. B2B partners often connect to each other on the Internet through special __________ designed to facilitate information exchanges and transactions. Our Experts can answer your tough homework and study questions. What role does John play in this situation? A. The _____________ situation usually involves more members of a buying center and involves more time to complete than the other buying situations. China is now the second-largest economy and the third-largest market for U.S. exports. C. avoids social, situational conflicts. developing brand names that have no preexisting meaning in any known language. When she was looking for a new car, Francesca was considering both American and foreign made vehicles, but her father and boyfriend both encouraged her to buy American-made brands. When Kinkos replenishes its supply of copy paper, it most likely involves a _____ situation. 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. Maslow's Hierarchy of Needs includes physiological needs at the lowest level and self-, actualization at the top. 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. Alex decides to make a donation to the Autism Research Institute. Russian consumers have little interest in online shopping. When entering a foreign market, the least risky strategy is. Question Upscale men's and women's clothing stores, likeNordstrom, Neiman Marcus, or Saks Fifth Avenue, are more . A strategic alliance is a relationship in which two firms collaborate on a business opportunity, but do not invest in each other. This site is using cookies under cookie policy . The buying center for USF Corporation is in the process of discussing price, quality, and delivery schedules with potential suppliers. The fact that Mercedes-Benz is known by three Chinese names in Asiapeng zee in Cantonese for Hong Kong, peng chi in Mandarin for Taiwan, and ben chi in Mandarin for mainland Chinaillustrates the importance of developing different _____ for global markets. alienated Beverly, the real decision maker. purchase uncertaintyE. With its estimated outlay of $600 billion dollars for fiscal year 2011, the Pentagon represents which type of B2B organization? John is involved in the buying center of a large organization. The Russian population is poorly educated.