Suppose that Volkswagen is preparing an RFP for a hands-free phone connection for a new car model. $22 Marketers are particularly interested in postpurchase - Course Hero 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. decreasing competition for intellectual capital. Russian consumer markets are saturated, offering few opportunities for goods from U.S. companies to sell well. They are in the __________ stage of the business-to-business buying process. Chapter 5 Flashcards | Chegg.com how consumers decide to make their purchases. Suppose that Volkswagen is preparing an RFP for a hands-free phone connection for a new car model. According to purchasing power parity theory, if __________ is/are in equilibrium, products will cost the same in each country. What is the overinvolvement ratio for high study levels in . assist him in meeting his functional needs. create post-election exuberance.C. attempt to facilitate the collective agreement of all members of the buying center. visit customers after they have moved into their home.E. Global pricing strategies should be consistent with. Bids for supplying the required components or parts. LinkedIn is mainly used for ________ in the B2B marketplace. There are 3 possible postpurchase outcomes: Customer satisfaction o Marketers can take several steps to An organizations culture reflects the __________ that guide its employees behavior. Of the five types of risk associated with purchase decisions, which one involves the perceived danger inherent in a poorly performing product or service? Your text notes that global markets are the result of several fundamental changes. postpurchase dissonance.C. There are many possible cars to choose from, but she is focused on a few she would actually consider buying. Marketing Quiz 2 Flashcards | Quizlet China has imported fewer goods from the U.S. each year for the past decade. avoiding the use of the brand name in advertising and focusing on feature and benefits. This is an example of which of the following types of buying situation? Basket Weavers, Inc ships their prized bread basket to two countries (countries A and B) where the exchange rates are in equalibrium. marketers particularly interested in this because it entails actual customers rather than potential customers 3 possible positive postpurchase outcomes 1. customer satisfaction 2. postpurchase dissonance 3. customer loyalty customer satisfaction Which of the following is NOT one of the major trade agreements affecting global marketing? Week 2.1 Flashcards | Chegg.com How can this blog help CA Technologies with B2B marketing? Darrell knows satisfied customers will create word of mouth referrals for him. Hospitals, schools,and religious organizations are examples of ____________ buyers. Sandy thinks the east side of her city is a great area to own a home and raise a family. The same product design and features in all countries, with variations in the promotional campaigns country by country. Brands can be extremely valuable domestically, but challenging internationally. The traditional marketing strategy of selling umbrellas when it is raining is an example of how __________ factors influence consumers' decisions. Jordana is buying a laptop computer to take on trips. India has no shopping malls or other large commercial centers. Chinas standard of living has dropped over the past 30 years. increase financial risk.E. They also put personal care products in the pharmacy area, many aisles away from the grocery products. 75. Because not all purchase intentions result in an actual purchase, marketers calculate the _____ to measure how effectively a decision to purchase a specific product results in a completed purchase. Fordham Hardware is known for its consensus buying center culture. [psychographic, demographic] English (US) United States. the value of a countrys exports minus its imports. Pedro Bechara, manager of the lab, is asked for a recommendation, and he suggests buying Macintosh computers instead of Windows PCs. In a _____ situation, the buying center is likely to proceed through all six steps in the buying process and involve many people in the buying decision. What role(s) do the sales reps play in the buying center? When Leanne gave her presentation to the BigDeal discount buying center team, she treated each members question seriously and gave equal time to addressing each. This requirement is used to keep suppliers "on their toes.". China is now the second-largest economy and the third-largest market for U.S. exports. Jorge decides on a strategy of setting low expectations for his performance in the debate, telling reporters "Don't mis-underestimate me." This is an example of using a. Postpurchase cognitive dissonance is especially likely for products that are, 66. In a joint venture, the burden of ownership, control, and profits is not shared. Which of the following statements best describes global expansion through a strategic alliance? Laura has a nearly new economy car, but she wants a Ford Mustang because she thinks it would be exciting to own one. Global population growth is equally dispersed among nations. are unaware of key determinant attributes. BMW, the German company that manufactures automobiles, motorcycles, and other products, owns and operates a manufacturing plant in Spartanburg, South Carolina in the United States. The Raycom engineers will primarily play the __________ role in the companys buying center. She wants to satisfy both functional and psychological needs. $20 Which of the following needs pertains to the performance of a product or service? His employees have learned that there isnt much point in making purchase recommendations for new equipment, because Bob is going to choose whatever he thinks is best regardless of their views. 2020-2023 Quizplus LLC. Which of Hofstedes cultural dimensions relates to a willingness to accept social inequality as natural? Firms prefer to manufacture in a country that has _____ because it signals a greater opportunity to export products to more markets. temporary promotional discounts). to maximize postpurchase cognitive dissonance. A buying center that makes its decisions by majority vote is a(n) __________ buying center. involves both compensatory and noncompensatory consumers. China drastically restricts the goods it allows U.S. companies to export to China. She has defined the . In the consumer decision process, we decide how much time and effort to expend searching for information based partly on. Most Americans tend to take access to global products and services for granted. Only about 200 million of these people earn more than the equivalent of $1,000 per year. These daily specials primarily provide the new product, When a firm sets its pricing strategy based on how it can, add value to its products or services it has embraced, When the floor rusted through on her old car, Kelly knew, she had a problem. Nathan was shopping for a new pair of athletic shoes. When making an important purchase, consumers often consult friends and family. decision heuristics. . When the floor rusted through on her old car, Kelly knew she had a problem. False. For each unit sold, the price sellers receive after the tax (net of tax) is Derek bought a pickup truck to transport his equipment to fishing tournaments that he's going to attend. promotional efforts.D. 2.1.2: Buying-Process Stages - Business LibreTexts No; the sales rep should be looking for new customers instead. He has no experience as a pilot or airplane mechanic. treat all members of the buying center as equally important. _____ includes both the market value of the goods and services produced by country in a particular year plus the net income earned from investments abroad. When Glen is thirsty, he always buys a Coke. The first stage of the B2B buying process is. reduce the number of products and services open to purchase on internet portal sites.C. Kindly login to access the content at no cost. Tariffs, quotas, and currency exchange policies affect global. focus attention on the gatekeeper in the buying centers team. A. Companies can help to overcome language difficulties in using brands by. India claims more than 25% of the worlds population. call for different marketing and selling strategies. The RFP process is used by buyers to allow customer input into value creation. efforts to stimulate choices among government agencies. Jennifers spending decisions are heavily influenced by her family, her peers, and her religious education. Why are marketers particularly interested in postpurchase behavior? Glocalization refers to a global marketing strategy in which each of the four Ps is customized for each country. The buying decision is likely to be most complex and take longest to complete in a(n) __________ B2B buying situation. Ms. Reynolds serves as a __________ in the buying center. offset performance risk with financial risk. Colin wants information about the infrastructure in the countries his company is planning to export to. B. Marketers particularly interested in postpurchase behavior because it: A. involves both compensatory, 71. When a business buyer decides to change specifications such as quality or options associated with products purchased in the past, the buyer is engaged in a(n) __________ situation. Jordana is trying to reduce her customers __________ risk. Most B2B buying situations can be categorized into three categories: new buys, structured rebuys, and automatic rebuys. 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. They have financial resources, want to control business operations, and have had considerable success marketing to Hispanics in the United States. Which of the following is one of the global entry strategies? Which of the following is NOT true about web portals? Every year, before he puts his boat in the water, James has his mechanic put a new battery in the boat. Which of the following is NOT one of Hofstedes cultural dimensions? George would probably be, considered a(n) __________ in the diffusion of innovation, Parents of young children have been known to drive out, of their way so their kids will not see McDonald's Golden, Arches and plead with their parents to stop. When Kinkos replenishes its supply of copy paper, it most likely involves a _____ situation. 72. The same marketing mix for all of the four Ps used in all countries. promises and assurances to clients.E. carefully demonstrate how to maintain the finish on his cabinets. A) globe Once consumers have recognized a need, they begin to search for ways to satisfy that need. Which of the following is NOT one of the roles typically played by one of the members of a buying center? Marketers that set unrealistically high consumer expectations of a product through advertising or other types of promotion, may generate higher initial sales, but it will eventually lead to _____ if the product fails to achieve these expectations. When they occasionally see those clothes, hanging in the back of their closet, these teenagers probably feel, 65. internalize impulse attitudes.E. 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. CA Technologies, a firm providing software and services to information technology departments, maintains a corporate blog. Which of the following is NOT one of the four general types of organizational cultures? they must go through many different types of distribution channels. Should an office supplies sales rep stay in close touch with his/her current customers, and why or why not? 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. Andr was addressing his __________ risk. D. $32, Searching for valuable business information in a database, data warehouse, or data mart is referred to as _____.Data miningTPSintegrating the planning, .To attach an image to your message, press the ______ icon. India prevents foreign investors from entering into joint ventures. In B2B buying systems decisions are often made. Gerald is assessing global entry strategies for his gourmet sandwich business. and Postpurchase Processes - JSTOR Brad is observing part of his firms. Marketers are particularly interested in postpurchase behavior because it. temporal factors. In B2B markets, _____ are firms that buy and reprocess products (a product is a good or service) before selling them again to the next buyer. 62. Edward alerted Harry, and Harry preordered many Honda hybrids before they became available. entails actual rather than potential customers. 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. A time frame when the devices are needed. provides insights on the information search process. In order to maximize potential, segments and target markets can and should be defined by more than just geography. The Marketers are particularly interested in post-purchase behavior because it entails actual rather than potential customers. an indicator of the quality of life in a country. Last semester, Henri bought his textbooks over the Internet and saved a considerable amount of money. A) involves both compensatory and noncompensatory consumers.B) offers insights into information search methods.C) avoids situational conflicts.D) involves actual rather than potential customers.E) all of these. reduce the number of products and services open to purchase on internet portal sites. Sally is in the new marketing department of a mid-sized lawn and garden company. Jorge is running against a sharp, experienced politician, someone who is known for their debating skills and cunning wit. What do the BRIC countries have in common? Globalization refers to the process by which goods, services, capital, people, and ideas. He will gather information about the transportation and communications capabilities in each country. expensive, infrequently purchased, and associated with high levels of risk. Sometimes consumers have second thoughts after buying goods that might be expensive, infrequently purchased, not meet performance expectations or are associated with a high level of risk. financial risk.E. This E-mail is already registered with us. 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. psychological risk.D. To avoid this potential problem, Ralph will evaluate all of marketing actions EXCEPT his:A.advertising.B. Where Caroline grew up, everyone knew everyone else, no one locked the doors on their house, and a persons word could be trusted. 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. With companies on the Internet like Expedia, consumers are better informed about costs and benefits of purchasing options. Tariffs artificially lower prices and therefore lower demand. shopping. Marketers are particularly interested in __________ behavior because it Let us have a look at your work and suggest how to improve it! A universitys purchasing department is required to get at least three bids for any purchase greater than $3,000. simplifying the supply chain needed to make goods and services available. Which of the following is a potential negative factor for foreign investment in China? Americans often equate "bigger" with "better," and prefer larger cars, TV screens, homes even meals. He ultimately will determine whether to buy, what to buy, how to buy, or where to buy. Maslow's Hierarchy of Needs includes physiological needs at the lowest level and self-, actualization at the top. D. involves actual rather than potential customers. Note 36 - note - Positioning Methods -Firms position products and Which of the following is the process of getting oxygen from the environment to the tissues of the body? D. $32, Searching for valuable business information in a database, data warehouse, or data mart is referred to as _____.Data miningTPSintegrating the planning, .To attach an image to your message, press the ______ icon. extend problem solving beyond ritual consumption. personally valuable, antique, or foreign-made. She was leaning toward charging a, higher price than competitors to help demonstrate that, hers was a high-quality product. Verified Answer for the question: [Solved] Marketers are particularly interested in postpurchase behavior because it: A) involves both compensatory and noncompensatory consumers. Paula is concerned with __________. consumers weigh performance risk against functional needs when assessing their attitudes. 71. Marketers are particularly interested in postpurchase behavior The B2B buying process tends to be more formal than B2C buying. Daniel sells specialty software designed to allow small insurance companies to manage customer data and claims. most consumers in developing countries live in densely populated cities. In addition to wasting time by not understanding BigDeals culture, Leanne may have also hurt her chances because she. 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. 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. _____ involves a binding contractual agreement between two businesses whereby the marketing operations are tightly controlled and often standardized. Alternative evaluation often occurs while the consumer is engaged which step of the consumer purchase process. D. involves actual rather than potential customers. Yes; history has shown that online reordering cant be trusted. by a committee after considerable deliberation. Classes start in a few days, and he needs to decide right away how and where to purchase his books. C. avoids social, situational conflicts. Which of the following would be an example of glocalization of the Fiesta? Setting unrealistically high consumer expectation often leads to:A.ritual reversion.B. 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. Which of the following is NOT a major economic factor that the firm would consider? Franchising limits profit potential, since profits will have to be split with the franchisee. Brad is trying to avoid __________ business blunders. Work with our consultant to learn what to alter. Frank acts as the __________ in the business department buying center. provide a satisfaction guarantee or return policy.D. Which of the following corresponds most closely to this aspect of the decision process? They are experiencing significant levels of economic growth. The North American Free Trade Agreement represents the highest level of integration among the various international trade agreements. Like marketers, political candidates who set expectations too low, could:A.tarnish voter's image of the candidate.B. Jaden probably has a misguided sense of his. The Post-purchase behavior refers to the actions and reactions of a customer after they have purchased a product or service. Which statement about Indias population is TRUE? creating strong brands and store loyalty. This is an example of which global entry strategy? He also bought a trailer for his lawn maintenance business. Elena is in the process of buying a new car. Marketers are particularly interested in postpurchase behavior because it:_______. avoids situational conflicts. Global segmentation, targeting, and positioning (STP) is more complicated than local STP because. Autocratic buying centers are characterized by. offers insights into information search methods. Daniel knows satisfied customers will come back for software updates as the products and customer base changes. C. avoids social, situational conflicts. Whenever she sells an expensive vacation package, she encourages the customer to buy travel insurance, which provides reimbursement in case of trip cancellation due to illness or another emergency. B) offers insights into information search methods. A firms _____ reflects the set of values, traditions, and customs that guide its employees behavior. Only about 200 million of these people earn more than the equivalent of $1,000 per year. the middle class in India will continue to shrink as the rich get richer and the poor get poorer. You can specify conditions of storing and accessing cookies in your browser, Marketers are particularly interested in post purchase behaviour, Marketers are particularly interested in __________ behavior because it entails actual rather than potential customers. In this situation, these three attributes are called. perceived benefits versus perceived costs of search. Which of the following is currently a negative factor for foreign investment in Russia? To ensure that customers are satisfied, Darrell will likely do any of the following EXCEPT:A.let customers know they have the best quality cabinets available anywhere.B. Marketers are particularly interested in postpurchase behavior because it. _____ involves the buyer considering their own personal knowledge about a product based on past experience. Over time, marketers have turned to the work of behavioral scientists, philosophers, economists, social psychologists, and others to help them understand consumer behavior. Robertico has a(n) __________ buying center culture. Marketers particularly interested in postpurchase behavior because it: A. involves both compensatory : 1346586. With its estimated outlay of $600 billion dollars for fiscal year 2011, the Pentagon represents which type of B2B organization? _____ pertain to the personal gratification consumers associate with the product or service. using the Internet to find what other consumers feel about a specific product or service. Like marketers, political candidates who set expectations too low, could: Darrell sells custom cabinets for upscale residential homes. Marketing Unit 2 Flashcards | Quizlet He has a database with their birthdays, and offers them free meals on their birthdays. Satisfied customers, whom marketers hope to create, become loyal, purchase again, and spread positive word of mouth. Apple has nurtured this __________ component of their customers attitudes. 72. 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. the degree of perceived risk associated with the product or service being considered. To determine the market potential for its particular product or service, a firm should use. Firms attempt to respond quickly to complaints, hoping to, 69. From Frank, Kim learns which professors have left the university or are newly arrived. Jordana is a travel agent. customer loyalty (or disloyalty) answer What are the three possible positive post purchase outcomes?