Question 1

A buyer's motivation to make a purchase begins when he/she:
A) Identifies a needs gap
B) Talks with a salesperson
C) Evaluates proposals
D) Searches for information
E) Makes a purchase

Accepted Answer

A buyer's motivation to make a purchase typically begins when they identify a need or problem that they believe can be satisfied by a product or service. This is often referred to as a "needs gap," which prompts the buyer to begin searching for a solution. Once they have identified this gap, they may then move on to talking with salespeople, evaluating proposals, searching for information, and ultimately making a purchase. However, without first identifying a need or problem, it is unlikely that a buyer will be motivated to make a purchase.

Question 2

Which of the following is not a characteristic that distinguishes business markets from consumer markets?
A) Derived demand
B) Multiple buying influences
C) Buyers are larger but fewer number
D) Buyers make purchase decisions more often
E) All of the above

Accepted Answer

All of the other options - derived demand, multiple buying influences, and fewer but larger buyers - are characteristics that distinguish business markets from consumer markets. However, the frequency of purchase is not necessarily a distinguishing characteristic. Some products are purchased frequently by both businesses and consumers, while others are purchased less frequently.

Question 3

Anthony worked in retail sales while completing his college degree. After graduating, he took a job as a business-to-business salesperson. Which of the following is one of the changes he can expect?
A) His new customers will be more likely to make a purchase.
B) His new customers will be more dependent upon him for information.
C) His new customers or more likely to have multiple buying influences.
D) He is more likely to establish closer working relationships with this new customers.
E) Both c and d are correct

Accepted Answer

Business-to-business sales involve more complex buying processes, where multiple buying influences and decision makers are involved. Therefore, both option C (new customers are more likely to have multiple buying influences) and option D (he is more likely to establish closer working relationships with his new customers) are accurate. Additionally, option B (new customers will be more dependent upon him for information) is also true as business-to-business sales often require in-depth product knowledge and consultative selling techniques. Option A is not a likely change that Anthony can expect as business-to-business sales cycles are typically longer and involve more negotiation and decision-making than retail sales.

Question 4

Needs that reflect the desire for feelings of assurance and risk reduction are called?
A) Situational needs
B) Functional needs
C) Social needs
D) Psychological needs
E) Knowledge needs

Accepted Answer

Needs that reflect the desire for feelings of assurance and risk reduction are psychological needs. These needs are related to an individual's sense of safety, security, and peace of mind. They include the need for stability, predictability, and control, and are important factors in consumer decision-making.

Question 5

Which of the following best describes derived demand?
A) Demand derived from consumer markets
B) Demand derived from business markets
C) Demand derived from intermediaries
D) Demand derived from the demand for another product
E) Demand derived from the buying center

Accepted Answer

Derived demand refers to demand that is derived from the demand for another product. For example, the demand for steel is derived from the demand for automobiles.

Question 6

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because Fortune 500 companies use it. Which of the following needs is the buyer expressing?
A) Situational needs
B) Functional needs
C) Social needs
D) Psychological needs
E) Knowledge needs

Accepted Answer

The buyer is expressing social needs, as they are interested in using a product that is associated with prestigious companies in order to feel validated and respectable among their peers.

Question 7

Purchase decisions tend to be more complex in business markets than consumer markets. Accordingly, in business markets you are more likely to find (relative to consumer markets):
A) A larger number of customers
B) More people influencing the buying decision
C) Fewer people influencing the buying decision
D) Buyers who are more intelligent
E) More products

Accepted Answer

Business markets generally involve more people in the decision-making process, including various departments and individuals with different roles and responsibilities. This can increase the complexity of the purchase decision and make it harder to secure a sale.

Question 8

A salesperson's best chance for making a sale is to get involved with the buyer when they are in the ____ stage of the buying process?
A) Recognition of need
B) Acquisition of proposals
C) Search for solution providers
D) Final
E) All the above

Accepted Answer

The recognition of need stage is the earliest stage in the buying process, during which the buyer becomes aware of a problem or need for a product or service. This is the stage where the salesperson can offer solutions and provide valuable information to the buyer, thus increasing their chances of making a sale. While it is important to be involved in all stages of the buying process, the recognition of need stage is the best chance for a salesperson to make a sale.

Question 9

Needs which represent the need for a specific core task to be performed are called?
A) Situational needs
B) Functional needs
C) Social needs
D) Psychological needs
E) Knowledge needs

Accepted Answer

Functional needs are specific to the task that needs to be performed, such as the need for a computer to perform work or the need for a car for transportation. Situational needs refer to needs that arise in specific situations, social needs relate to the need for social interaction or acceptance, psychological needs relate to mental or emotional needs, and knowledge needs relate to the need for information or learning.

Question 10

Which of the following is the most common categorization of buyers:
A) Consumers and end users
B) Business and intermediaries
C) Consumer and business
D) Government and business
E) Government and intermediaries

Accepted Answer

Consumer and business are the most common categorization of buyers. Consumers refer to individuals or households that purchase goods and services for personal use, while businesses refer to organizations that purchase goods and services to support their operations or to resell them to others. This categorization is widely used in marketing and sales strategies to differentiate the target audience and tailor the marketing messages and sales pitches accordingly.

Question 11

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because you offer a long warranty and a liberal return policy. Which of the following needs is the buyer expressing?
A) Situational needs
B) Functional needs
C) Social needs
D) Psychological needs
E) Knowledge needs

Accepted Answer

The answer of Suppose you're working as a salesperson and...

Question 12

Which the following is not a step in the buying process?
A) Analysis of proposals
B) Performance feedback and evaluation
C) Making a sales presentation
D) Recognizing a problem or need
E) All of the above are steps in the buying process

Accepted Answer

Making a sales presentation is a step in the selling process, not the buying process. The steps in the buying process typically include recognizing a problem or need, searching for information, evaluating options, making a purchase decision, and providing post-purchase feedback and evaluation.

Question 13

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because their other supplier is experiencing temporary production problems. Which of the following needs is the buyer expressing?
A) Situational needs
B) Functional needs
C) Social needs
D) Psychological needs
E) Knowledge needs

Accepted Answer

The buyer is expressing situational needs, which are temporary or unique needs that arise from a specific situation. In this case, the buyer's current supplier is experiencing production problems, creating a situational need for an alternative supplier.

Question 14

Relative to consumer markets, business markets are more likely to exhibit:
A) Customers with greater intelligence
B) Customers with more problems
C) Higher levels of demand fluctuation
D) Customers with lower intelligence
E) Customers with fewer problems

Accepted Answer

Business markets often experience higher levels of demand fluctuation due to factors like derived demand, where the demand for business products is dependent on the demand for consumer products.

Question 15

Which of the following is not one of the types of buyer needs?
A) Functional
B) Social
C) Physiological
D) Situation
E) None of the above are types of buyer needs

Accepted Answer

Physiological needs are basic human needs related to survival, not specifically categorized as buyer needs in marketing contexts.

Question 16

The gap between a buyer's desired state and his/her actual state is referred to as a
A) Problem
B) Complaint
C) Negative discrepancy
D) Need
E) Both a and d are correct

Accepted Answer

The gap between a buyer's desired state and actual state is often referred to as a "problem" or a "need," as it indicates something the buyer wants to change or fulfill.

Question 17

Members of the business markets include:
A) Firms, institutions, and governments
B) Firms, consumers, and governments
C) End-users, consumers, and governments
D) Industrial and consumer
E) None of the above

Accepted Answer

Business markets refer to those markets that are involved in the selling and purchasing of goods and services among firms, institutions, and governments. Hence, option A is the correct answer as it includes all the members of the business markets.

Question 18

Salespeople who are used to selling door-to-door may have difficulty working as a business-to-business salesperson because:
A) In business-to-business selling, sales are rarely made on the first call.
B) They're probably not used to forming close relationships with their customers.
C) They usually have little experience dealing with multiple (more than two) buying influences.
D) They may not be used to dealing with professional purchasing agents.
E) All of the above are correct.

Accepted Answer

All of the above statements are correct. Door-to-door salespeople are used to making quick sales on the first call and may have limited experience dealing with purchasing agents or multiple buying influences. In contrast, B2B sales require building long-term relationships with customers and a deeper understanding of their needs and buying processes.

Question 19

Sharon has quit her job selling vacuum cleaners door-to-door. Now, she is selling industrial equipment to businesses. Which of the following is one of the changes she can expect?
A) She will call on fewer customers.
B) She will have to deal with fewer problems.
C) Her job will be much easier.
D) She will have much less control of her time.
E) All of the above are changes she can expect.

Accepted Answer

Selling industrial equipment typically involves fewer customers compared to door-to-door sales, as businesses are larger and require more substantial sales efforts.

Question 20

Needs which represent the need for acceptance from and association with others are called?
A) Situational needs
B) Functional needs
C) Social needs
D) Psychological needs
E) Knowledge needs

Accepted Answer

Social needs refer to the need for acceptance from and association with others. They are a type of psychological need but are specifically related to social interactions and connections. Option A, situational needs, refer to needs that arise from specific situations or circumstances. Option B, functional needs, are related to the practical or utilitarian benefits that a product or service provides. Option D, psychological needs, refer to basic needs for safety, esteem, and self-actualization. Option E, knowledge needs, refer to the need for information or understanding.

Quiz 3: Understanding Buyers

A buyer's motivation to make a purchase begins when he/she:

Which of the following is not a characteristic that distinguishes business markets from consumer markets?

Anthony worked in retail sales while completing his college degree. After graduating, he took a job as a business-to-business salesperson. Which of the following is one of the changes he can expect?

Needs that reflect the desire for feelings of assurance and risk reduction are called?

Which of the following best describes derived demand?

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because Fortune 500 companies use it. Which of the following needs is the buyer expressing?

Purchase decisions tend to be more complex in business markets than consumer markets. Accordingly, in business markets you are more likely to find (relative to consumer markets) :

A salesperson's best chance for making a sale is to get involved with the buyer when they are in the ____ stage of the buying process?

Needs which represent the need for a specific core task to be performed are called?

Which of the following is the most common categorization of buyers:

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because you offer a long warranty and a liberal return policy. Which of the following needs is the buyer expressing?

Which the following is not a step in the buying process?

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because their other supplier is experiencing temporary production problems. Which of the following needs is the buyer expressing?

Relative to consumer markets, business markets are more likely to exhibit:

Which of the following is not one of the types of buyer needs?

The gap between a buyer's desired state and his/her actual state is referred to as a

Members of the business markets include:

Salespeople who are used to selling door-to-door may have difficulty working as a business-to-business salesperson because:

Sharon has quit her job selling vacuum cleaners door-to-door. Now, she is selling industrial equipment to businesses. Which of the following is one of the changes she can expect?

Needs which represent the need for acceptance from and association with others are called?