Ashworth BM350_BM 350 Exam 3
Ashworth BM350/BM 350 Exam 3Ashworth BM350/BM 350 Exam 3Question 1 of 20 5.0/ 5.0 PointsUltimately, the amount of steel sold to General Motors depends on the consumers’ demand for GM cars and trucks. From the standpoint of the steel manufacturer, which of the following demand forms is most pertinent?A. Derived demandB. Inelastic demandC. Geographic demandD. Relational demandQuestion 2 of 20 5.0/ 5.0 PointsThe 80-20 rule reflects the idea that:A. 20% of the company’s profits are generated by the top 80% of customers.B. the top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend.C. 20% of customers are unprofitable, and 80% make up a company’s profits.D. the top 20% of customers often generate 80% of the company’s profits.Question 3 of 20 5.0/ 5.0 Points__________ is based on the premise that marketers can no longer use “interruption marketing” via mass media campaigns.A. Relationship marketingB. Permission marketingC. Database marketingD. Internet marketingQuestion 4 of 20 5.0/ 5.0 Points__________ portrays the “whole person” interacting with his or her environment.A. AttitudeB. PersonalityC. LifestyleD. Self-conceptQuestion 5 of 20 5.0/ 5.0 PointsWhich of the following is a stage in a straight rebuy situation?A. Problem recognitionB. General need descriptionC. Product specificationD. Supplier searchQuestion 6 of 20 5.0/ 5.0 PointsWith the __________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.A. conjunctiveB. lexicographicC. elimination-by-aspectsD. primaryQuestion 7 of 20 5.0/ 5.0 PointsOn an online __________, prices change by the minute.A. buying allianceB. barter marketC. systems sellerD. spot marketQuestion 8 of 20 5.0/ 5.0 Points__________ refers to the manner in which consumers code, categorize, and evaluate financial outcomes of choices.A. Cost accountingB. Financial accountingC. Behavioral accountingD. Mental accountingQuestion 9 of 20 5.0/ 5.0 PointsMarketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called:A. market partitioning.B. brand association.C. market valuation.D. market estimation.Question 10 of 20 5.0/ 5.0 PointsAt the top of Maslow’s hierarchy of needs (shown as a pyramid in the textbook) are __________ needs.A. esteemB. self-actualizationC. socialD. safetyQuestion 11 of 20 5.0/ 5.0 Points__________ is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a giv
Content
TheAceStudent: Ashworth BM350/BM 350 Exam 3
Ashworth BM350/BM 350 Exam 3
Ashworth BM350/BM 350 Exam 3
Question 1 of 20 5.0/ 5.0
Points
Ultimately, the amount of steel sold to General Motors depends on the consumers’ demand for GM
cars and trucks. From the standpoint of the steel manufacturer, which of the following demand
forms is most pertinent?
A. Derived demand
B. Inelastic demand
C. Geographic demand
D. Relational demand
Question 2 of 20 5.0/ 5.0
Points
The 8020 rule reflects the idea that:
A. 20% of the company’s profits are generated by the top 80% of customers.
B. the top 20% of customers are highly satisfied and 80% of customers will recommend the
company to a friend.
C. 20% of customers are unprofitable, and 80% make up a company’s profits.
D. the top 20% of customers often generate 80% of the company’s profits.
Question 3 of 20 5.0/ 5.0
Points
__________ is based on the premise that marketers can no longer use “interruption marketing” via
mass media campaigns.
A. Relationship marketing
B. Permission marketing
C. Database marketing
D. Internet marketing
Question 4 of 20 5.0/ 5.0
Points
__________ portrays the “whole person” interacting with his or her environment.
A. Attitude
B. Personality
C. Lifestyle
D. Selfconcept
Question 5 of 20 5.0/ 5.0
Points
Which of the following is a stage in a straight rebuy situation?
A. Problem recognition
B. General need description
C. Product specification
D. Supplier search
Question 6 of 20 5.0/ 5.0
Points
With the __________ heuristic, the consumer sets a minimum acceptable cutoff level for each
attribute and chooses the first alternative that meets the minimum standard for all attributes.
A. conjunctive
B. lexicographic
C. eliminationbyaspects
D. primary
Question 7 of 20 5.0/ 5.0
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TheAceStudent: Ashworth BM350/BM 350 Exam 3
Points
On an online __________, prices change by the minute.
A. buying alliance
B. barter market
C. systems seller
D. spot market
Question 8 of 20 5.0/ 5.0
Points
__________ refers to the manner in which consumers code, categorize, and evaluate financial
outcomes of choices.
A. Cost accounting
B. Financial accounting
C. Behavioral accounting
D. Mental accounting
Question 9 of 20 5.0/ 5.0
Points
Marketers need to identify the hierarchy of attributes that guide consumer decision making in order
to understand different competitive forces and how these various sets get formed. This process of
identifying the hierarchy is called:
A. market partitioning.
B. brand association.
C. market valuation.
D. market estimation.
Question 10 of 20 5.0/ 5.0
Points
At the top of Maslow’s hierarchy of needs (shown as a pyramid in the textbook) are __________
needs.
A. esteem
B. selfactualization
C. social
D. safety
Question 11 of 20 5.0/ 5.0
Points
__________ is the perceived monetary value of the bundle of economic, functional, and
psychological benefits customers expect from a given market offering.
A. Total customer cost
B. Total customer benefit
C. Total benefits of ownership
D. Value proposition
Question 12 of 20 5.0/ 5.0
Points
A(n) __________ group is one whose values or behavior an individual rejects.
A. aspirational
B. disassociative
C. membership
D. primary
Question 13 of 20 5.0/ 5.0
Points
The __________ approach to consumer research asks customers to attach a monetary value to
alternative levels of a given attribute. The value of a given configuration is determined by adding the
average values of each of the given attributes.
A. benchmarking
B. compositional
C. importance rating
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TheAceStudent: Ashworth BM350/BM 350 Exam 3
D. focusgroup
Question 14 of 20 5.0/ 5.0
Points
In reordering office supplies, the only stages that the buyer passes through are the product
specification stage and the __________ stage.
A. problem recognition
B. general need description
C. orderroutine specification
D. performance review
Question 15 of 20 5.0/ 5.0
Points
__________ teaches marketers that they can build demand for a product by associating it with
strong drives, using motivating cues, and providing positive reinforcement
A. Demand theory
B. Learning theory
C. Economic theory
D. Psychological theory
Question 16 of 20 5.0/ 5.0
Points
A company’s __________ includes all the experiences the customer will have on the way to
obtaining and using the offering.
A. value proposition
B. value delivery system
C. customervalue analysis
D. total customer benefit
Question 17 of 20 5.0/ 5.0
Points
The __________ says people have a general tendency to attribute success to themselves and
failure to external causes
A. availability heuristic
B. traitrole theory
C. awareness set
D. hedonic bias
Question 18 of 20 5.0/ 5.0
Points
Brands that meet consumers’ initial buying criteria are called the:
A. total set.
B. awareness set.
C. consideration set.
D. choice set.
Question 19 of 20 5.0/ 5.0
Points
__________ is a key industrial marketing strategy in bidding to build largescale industrial products
such as dams, pipelines, etc.
A. Systems contracting
B. Systems buying
C. Systems selling
D. Solutions buying
Question 20 of 20 5.0/ 5.0
Points
In the purchasing decision process, the major role of __________ is in selecting vendors and
negotiating.
A. gatekeepers
B. buyers
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TheAceStudent: Ashworth BM350/BM 350 Exam 3
C. initiators
D. approvers
Ashworth BM350/BM 350 Exam 3
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