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BUAD 332 Exam 2 2025 | All Questions and Correct
Answers | Already Graded A+ | University of
Tennessee Knoxville
If I was in the market for a new car, and I went to a dealer and took a car out for a test drive, which source of information would I have utilized? ---------CORRECT ANSWER-----------------Experiential What is the 3rd step in the buyer decision process? ---------CORRECT ANSWER------ -----------Evaluation of alternatives What is the 4th step in the buying decision process? ---------CORRECT ANSWER----- ------------Purchase decision What is the 5th step in the buyer decision process? ---------CORRECT ANSWER------ -----------Postpurchase behavior What are the two things marketers can influence to enhance satisfaction? --------- CORRECT ANSWER-----------------Performance and expectations
What is cognitive dissonance? ---------CORRECT ANSWER-----------------A buyer's doubts shortly after a purchase about whether it was the right decision. What do marketers do with 1-800 numbers, FAQs, and Wed feedback forms? ------ ---CORRECT ANSWER-----------------Combat cognitive dissonance What do marketers want to do to the buyer decision process? ---------CORRECT ANSWER-----------------Influence each of the steps to the extent they can What is adoption process? ---------CORRECT ANSWER-----------------The mental process through which an individual passes from first hearing about an innovation to final adoption Awareness, interest, evaluation, trial, and adoption describe what? --------- CORRECT ANSWER-----------------Steps in the adoption process What question does relative advantage ask? ---------CORRECT ANSWER--------------- --Is the innovation superior to existing products? What question does compatibility ask? ---------CORRECT ANSWER----------------- Does the innovation fit the values and experience of the target market?
Which market segmentation variable deals with age, gender, family size, life cycle, income, occupation, education, race, religion, generation, and nationality? --------- CORRECT ANSWER-----------------Demographic Which market segmentation variable is the most popular and easier to measure than most variables? ---------CORRECT ANSWER-----------------Demographic Hardee's playing on gender in its commercial is an example of what kind of segmentation? ---------CORRECT ANSWER-----------------Demographic Dove Men's Shampoo is an example of what kind of marketing segmentation? ----- ----CORRECT ANSWER-----------------Gender Manufacturers having different grades of products for different marketers like Honda also having Acuras is an example of what kind of market segmentation? ---- -----CORRECT ANSWER-----------------Income Which market segmentation variable divides a market into different groups based on social class, lifestyle, and personality characteristics? ---------CORRECT ANSWER-----------------Psychographic
Michelob Ultra uses what kind of market segmentation in their commercials? ------ ---CORRECT ANSWER-----------------Psychographics (Targeted at athletic individuals because of low carb) What market segmentation variable divides buyers into groups based on consumer knowledge, attitudes, uses, or responses to a product? ---------CORRECT ANSWER-----------------Behavioral Behavioral segmentation is split into what three things? ---------CORRECT ANSWER-----------------User status, usage rate, and loyalty status The Pepsi Challenge was an example of what kind of behavioral market segmentation? ---------CORRECT ANSWER-----------------Loyalty status True or False: Marketers only use one market segmentation variable. --------- CORRECT ANSWER-----------------False Business marketers can only use ---------CORRECT ANSWER-----------------Operating characteristics, purchasing approaches, situational factors, and personal characteristics
What do marketers want to understand the most in the simple model of consumer behavior? ---------CORRECT ANSWER-----------------Buyer's black box of characteristics and decision processes What is the most basic cause of a person's wants and behavior? ---------CORRECT ANSWER-----------------Culture What does culture include? ---------CORRECT ANSWER-----------------Basic values, perceptions, wants, and behaviors What is a subculture? ---------CORRECT ANSWER-----------------Groups of people with shared value systems based on common life experiences What are important since not all subcultures are marketed to the same? --------- CORRECT ANSWER-----------------Nuances T or F: All subcultures are marketed to the same ---------CORRECT ANSWER---------- -------False What is measured by a combination of occupation, income, education, wealth, and other variables? ---------CORRECT ANSWER-----------------Social class
Why do wealthier individuals respond differently to stimuli than economically struggling individuals do? ---------CORRECT ANSWER-----------------Social norms are different What are the social factors? ---------CORRECT ANSWER-----------------Groups, family, and roles/status Which social factor deals with reference (opinion leaders) and aspiration? --------- CORRECT ANSWER-----------------Group Which social factor is the most important to marketers? ---------CORRECT ANSWER-----------------Family What social factor means expected activities? ---------CORRECT ANSWER------------- ----Role What social factor means esteem given by society? ---------CORRECT ANSWER------ -----------Status
What is the personal source of information? ---------CORRECT ANSWER----------------
- Comes from family, friends, neighbors and effects on social media What is the commercial source of information? ---------CORRECT ANSWER----------- ------It's the advertising and salespeople What is the public source of information? ---------CORRECT ANSWER----------------- It's the mass media and consumer-rating groups What is the experiential source of information? ---------CORRECT ANSWER----------- ------It's the handling, examining, and using of the product What is the most effective source of information? ---------CORRECT ANSWER-------- ---------Personal What source of information do you hear the most from? ---------CORRECT ANSWER-----------------Commercial What question does divisibility ask? ---------CORRECT ANSWER-----------------Can I try it out first?
What question does communicability ask? ---------CORRECT ANSWER----------------- Can results be easily observed or described to others? What is business buyer behavior? ---------CORRECT ANSWER-----------------Behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others What is true about business buyer behavior? ---------CORRECT ANSWER--------------- --Business buying is typically more complex than consumer buying How are business markets situated? ---------CORRECT ANSWER----------------- Geographically concentrated What is business demand derived from? ---------CORRECT ANSWER----------------- Consumer demand What buying processes are more formal? ---------CORRECT ANSWER----------------- Business buying processes
Users, deniers, influencers, buyers, and gatekeepers are what? ---------CORRECT ANSWER-----------------Buying center members When selecting customers to serve, what is the question asked? ---------CORRECT ANSWER-----------------Who is our customer? What is targeting? ---------CORRECT ANSWER-----------------Selecting the market segments that will become the chosen targets of opportunity How do marketers decide which segments are most attractive? ---------CORRECT ANSWER-----------------Segment size and growth, segment structural attractiveness, and company objectives and resources How do you evaluate market segments with segment size and growth? --------- CORRECT ANSWER-----------------Analyze current segment sales, growth rates, and expected profitability How do you evaluate market segments with segment structural attractiveness? --- ------CORRECT ANSWER-----------------Consider competition, existence of substitute products, and the power of buyers and suppliers
How do you evaluate market segments with company objectives and resources? - --------CORRECT ANSWER-----------------Examine company skills and resources needed to succeed in that segments and offer superior value and gain advantages over competitors Starting with the most broad targeting strategy to the most narrow, what are the different strategies? ---------CORRECT ANSWER-----------------Undifferentiated marketing, differentiated marketing, concentrated marketing, and micromarketing What is undifferentiated/mass marketing? ---------CORRECT ANSWER----------------- It ignores segmentation opportunities, and because of this, products rarely succeed in the marketplace What is differentiated/segmented marketing? ---------CORRECT ANSWER------------- ----Targets several segments and designs separate offers for each Coca-Cola, Procter & Gamble, and Toyota use what kind of marketing? --------- CORRECT ANSWER-----------------Differentiated marketing In 1915, Ford Motor Company made one product and sold it to any and everyone. What is this an example of? ---------CORRECT ANSWER----------------- Undifferentiated marketing
Winn-Dixie identifying each of their stores by location like Destin being a resort location or another store concentration of Jewish populations is an example of what? ---------CORRECT ANSWER-----------------Local marketing What is individual marketing? ---------CORRECT ANSWER-----------------Tailoring products and marketing programs to the needs and preferences of individual customers Amazon sending you an email each week with products for you to buy that is unique for just you is an example of? ---------CORRECT ANSWER----------------- Individual marketing What factors needs to be considered when choosing a target strategy? --------- CORRECT ANSWER-----------------Company resources, product variability, product's life cycle, market variability, and competitors' marketing strategies What is socially responsible targeting? ---------CORRECT ANSWER----------------- Avoiding targeting that is aimed towards vulnerable, minority, or disadvantaged populations, especially children and teens Joe Camel as a cartoon character for cigarettes, Lucky Charms ads toward children, and Malt Liquor advertised in low income areas is an example of? --------- CORRECT ANSWER-----------------Not socially responsible targeting
What is positioning? ---------CORRECT ANSWER-----------------The way a product is defined by consumers on important attributes-- the place the product occupies in consumers' minds relative to competing products Identifying a set of possible value differences and competitive advantages on which to build, choosing the right competitive advantages, and selecting an overall position strategy is involved during what? ---------CORRECT ANSWER--------- --------Choosing a differentiation and positioning strategy What is the key to winning target customers? ---------CORRECT ANSWER-------------- ---Understanding their needs better than competitors do and to deliver more value How does one brand differentiate itself from another brand? ---------CORRECT ANSWER-----------------Product, serves, channels, people, and image differentiation Chevrolet telling their customers that they have earned the highest JD Power ranking in 2016 is an example of what kind of differentiation? ---------CORRECT ANSWER-----------------Product
What do customers ACTUALLY buy? ---------CORRECT ANSWER----------------- Solutions to problems True or False: Products are not only physical objects ---------CORRECT ANSWER----- ------------True What is a ride on an airplane an example of? ---------CORRECT ANSWER--------------- --A service Why are services inherently difficult to market? ---------CORRECT ANSWER----------- ------It's not tangible What is the product service continuum? ---------CORRECT ANSWER----------------- Pure tangible good to pure service In the three levels of product, what is core customer value? ---------CORRECT ANSWER-----------------What need is being served or what problem is being solved In the three levels of product, what is the actual product? ---------CORRECT ANSWER-----------------Brand name, quality level, features, design, and packaging
In the three levels of product, what is the augmented product? ---------CORRECT ANSWER-----------------Product support, warranty, delivery/credit, and after-sale service (not always there for every product) What are industrial products? ---------CORRECT ANSWER-----------------Those purchased for further processing or for use in conducting business What are consumer products? ---------CORRECT ANSWER-----------------Bought for personal consumption (included are marketable entities) What are convenience goods? ---------CORRECT ANSWER-----------------Purchased frequently and immediately with little comparison shopping effort with little customer involvement, low prices, mass advertising, and widespread distribution What are shopping products? ---------CORRECT ANSWER-----------------Bought less frequently, more planning and effort, brand comparisons on basis of price, quality, and style with a higher price and selective distribution
