Question 1

Bentley Corp. is involved in the new product development process. Their first step was to solicit ideas for a new product from the company's sales force, the research and development group, and the engineering department. Their next step is to use market research to solicit consumers' input about the ideas they are working on.

Accepted Answer

The answer of Bentley Corp. is involved in the new...

Question 2

A consumer who recognizes that he or she is thirsty during a shopping trip is in the problem recognition stage of the buying process model.

Accepted Answer

The problem recognition stage is when a consumer recognizes a need or a problem that they want to solve, such as feeling thirsty.

Question 3

A newspaper, coffee, and an Egg McMuffin at McDonald's are all consumer convenience goods.

Accepted Answer

Consumer convenience goods are products that consumers usually buy frequently, immediately, and with a minimum of effort. A newspaper, coffee, and an Egg McMuffin at McDonald's are all examples of such goods as they are purchased for their convenience and are readily available for quick consumption.

Question 4

With respect to influences on consumer behaviour, perceptions are included in the category "personal influences," while reference groups are included in the "social influences" category.

Accepted Answer

The answer of With respect to influences on consumer behaviour,...

Question 5

Diana is going to be married soon, and she is shopping around for a wedding gown. For Diana, a wedding gown is a shopping good.

Accepted Answer

The answer of Diana is going to be married soon,...

Question 6

The comments of people in a focus group are taped, and researchers go through the data looking for common themes in participants' comments.

Accepted Answer

This statement accurately describes one method of analyzing data from a focus group.

Question 7

Multiple product lines allow a company to grow more rapidly and minimize the consequences of slow sales in any one product line.

Accepted Answer

By having multiple product lines, a company can diversify its revenue streams and reduce its reliance on a single product. This can lead to more stable revenue growth and help mitigate the impact of slow sales in one particular product line.

Question 8

You have just purchased a new Chevrolet. While driving, you notice that a new Ford has stopped beside the road and has its hazard lights blinking. You smile but decide to stop to help out. You are in the evaluation of alternatives stage of the consumer buying process.

Accepted Answer

The evaluation of alternatives stage occurs before a purchase is made, when a consumer is considering different options. Stopping to help a Ford owner after already purchasing a Chevrolet does not relate to evaluating alternatives for a purchase decision.

Question 9

Video mining is used by retailers mainly to catch shoplifters.

Accepted Answer

Video mining is used by retailers for a variety of purposes beyond catching shoplifters, including analyzing customer behavior, optimizing store layouts, and improving customer service.

Question 10

Suppose that you have just obtained your first job after graduation, and you conclude that your new income will allow you to purchase items that were once too expensive for you. You are in the information seeking stage of the consumer buying process.

Accepted Answer

The scenario described indicates you are in the problem recognition stage of the consumer buying process, where you realize your new income can fulfill previously unmet desires, not actively seeking information about specific products yet.

Question 11

A consumer who is dissatisfied with the first use of a product will usually try the product one more time to give it a second chance.

Accepted Answer

Consumer behavior studies suggest that first impressions are crucial, and a negative initial experience with a product often leads to abandonment rather than a second trial.

Question 12

For industrial goods, the main difference between expense and capital items is the length of time they are used.

Accepted Answer

Industrial goods can be categorized into two types: expense items and capital items. Expense items are those items that have a short life span and are used in the production process, such as raw materials, supplies, and consumables. Capital items are those items that are used for a long period and are not consumed in a single production process, such as machinery, buildings, and vehicles. The main difference between expense and capital items is the length of time they are used, with expense items having a shorter life span than capital items.

Question 13

Before buying a new cell phone, you might read about different brands, or ask a sales clerk for a recommendation, or rely on your own past experience. All of these actions illustrate that you are in the information seeking stage of the consumer buying process.

Accepted Answer

The information seeking stage involves gathering information about different options and considering recommendations or past experiences before making a purchase decision. The actions described in the statement all fit within this stage of the process.

Question 14

You and your spouse notice that the sports car you currently own is not going to be suitable for travelling when the new baby comes along. You are in the problem recognition stage of the consumer buying process.

Accepted Answer

The couple has identified a problem, which is the unsuitability of their current sports car for travelling with their new baby, indicating that they are in the problem recognition stage of the consumer buying process.

Question 15

Specialty goods are important and expensive purchases for the buyers who decide on what they want, and they accept no substitutes.

Accepted Answer

Specialty goods are designed for a specific group of consumers who are willing to pay a premium price for a high-quality product that meets their unique needs or preferences. These consumers value uniqueness, quality, and exclusivity, and they are not likely to switch to a substitute brand or product. Therefore, specialty goods represent an important market segment for businesses that want to establish a niche and build brand loyalty among their customers.

Question 16

A model of the consumer buying process shows that the search for information is the first stage of the buying process model.

Accepted Answer

The first stage of the consumer buying process model is typically recognized as the recognition of a need or problem, not the search for information. The search for information usually comes after the consumer has recognized a need.

Question 17

Product "features" refer to both the tangible and intangible qualities of a product.

Accepted Answer

Product features include both objective characteristics, such as size and weight, as well as subjective characteristics, such as quality and design.

Question 18

The total array of products a company has for sales is its product mix, while a product line is a group of products that are closely related because they function in a similar manner or are sold to the same customer group who will use them in similar ways.

Accepted Answer

This statement is true.

Question 19

Experimentation tries to compare the responses of similar individuals in different circumstances.

Accepted Answer

Experimentation is a method of research that involves manipulating one or more variables to observe the effect on an outcome or behavior. It involves comparing the responses of similar individuals who are assigned to different groups or conditions. Therefore, the statement is true.

Question 20

B2B markets account for more than twice the sales of the B2C market.

Accepted Answer

According to several studies and reports, B2B markets account for more than twice the sales of the B2C market.

Quiz 12: Understanding Marketing Principles and Developing Products