MAR 5125 FINAL exam with correct answers 2024

The consumer buying process begins when: - ANSWER: consumers recognize that they have unsatisfied needs. From the viewpoint of the consumer buying process, what is the difference between a need and a want? - ANSWER: Needs are based on discrepancies between actual and desired satisfaction, whereas wants occur relative to specific products that can fulfill a need. With respect to the consumer buying process, __________ is perhaps the most important factor that affects the time, effort, and expense dedicated to the search for information. - ANSWER: the degree of risk If a researcher were to ask consumers to quickly name the top 3 brands of computers they might consider purchasing, the most common brands in the __________ would most likely be Dell, Apple, and HP. - ANSWER: evoked set After enrolling in the MBA program at Minor State University, Sheri began having second thoughts. Although MSU seemed to be a good choice based on location, reputation, and price, Sheri was not convinced she had made the right choice. Sheri is suffering from: - ANSWER: cognitive dissonance. __________ is/are the primary reason why the consumer buying process varies across customers, products, and situations. - ANSWER: The complexity of the purchase Each of the following statements describes a unique characteristic of the business buying process EXCEPT: - ANSWER: Business buyers are less likely to be dependent upon each other. The basic assumption of __________ is that all customers in the market have similar needs and wants that can be reasonably satisfied with a single marketing program. - ANSWER: mass marketing The main advantage of __________ is specialization, as it allows the firm to focus its resources toward understanding and serving a single