MAR 3023 Quiz 02

evaluative criteria; Text page 125. Evaluative criteria are the objective and subjective attributes that a consumer uses to compare different products and brands.

Either Gator Textbooks or Custom Copies; Lecture page 39 The weighted average for Gator Textbooks is 149. To get this answer multiply each attribute score for Gator Textbooks by its importance weight and sum the answers. The weighted average for Custom Copies is also 149. Therefore you are indifferent between these two stores. The weighted average for FBS is 144, therefore you would not choose this store since it has a lower score

lifestyle analysis programs.; Text page 135. A) They are different theories about how consumers learn. Two of these are behavioral learning and cognitive learning theory. VALS does not deal with learning theories. B) The VALS program is probably the best-known lifestyle analysis program. Lifestyle analysis has proven useful in segmenting and targeting consumers for new and existing products. The VALS program has identified eight interconnected categories of adult lifestyles based on a person's self-orientation and resources. C) The VALS program does not study language. D) VALS has nothing to do with creating customer value. E) The hierarchy of effects is the sequence of stages a prospective buyer goes through from initial awareness to eventual action. The VALS program does not use this.

extended problem solving; Lecture page 39. A) Adaptive isn't one of the three problem solving types. Adaptivity is one of the basic decision-making concepts whereby consumers learn through trial and error to choose what works best for them. B) Routine problem solving is used for low involvement decisions. This type of decision making is used for routine or habitual decision. Buying a new car is not a routine or habitual decision. C) Extended problem-solving is used for high involvement decision. The buyer moves systematically through the steps of the decision process. This is a big purchase for Lucas so he takes the time to do a full information search and also ask others to gain more knowledge. Lucas used extended problem solving because this was a high involvement decision for him. D) Limited problem solving is in between the routine and extended problem solving. This is used when it is a purchase we have made before but there may be a new brand on the market or a new attribute added to a product. There is not a lot of information gathered in limited problem solving. Lucas, however, gathered a lot of information. E) This is not one of the decision-making types discussed in class or the text book.

When the perceived performance of a product/service is exactly what they expected it would be.; Lecture page 41. A) Consumers are satisfied when Performance equals expectations (P = E). B) When perceived performance exceeds expected performance then consumers are said to be "delighted." C) This answer is too vague to be the correct choice. D) When perceived performance falls below the expected performance then consumers are said to be "dissatisfied." E) Consumers are not always satisfied when they spend a lot of money on a product. If the performance of the product does not meet their expectations, then consumers will be dissatisfied.

retailers and wholesalers.; Text page 154 By definition, wholesalers and retailers that buy physical products and resell them again without any reprocessing are resellers. Wholesalers and retailers are the two main components of the reseller market.

vendor analysis; bidder's list; Lecture page 45 A vendor analysis, often performed using the multi-attribute model approach, is used to compare alternative vendors for a given product. Based upon the results from the vendor analysis the buyer should create a bidders list. A bidders list is a list of firms believed to be qualified to supply a given item.

supply partnership; Text page 159 A) This is not a term discussed in class or the text book. B) This is a made up term. C) Quid pro quo is Latin for "something for something." It is commonly used to mean a favor in exchange for a favor. D) This is the correct definition of a supply partnership. E) It is not a called a conflict of interest when a buyer and a seller work together for their mutual benefit.

buying center; Text page 162 A) This is a created term. B) Gatekeepers are the people who keep information out and let information in to the buying center. A gatekeeper is just one role in the buying center. C) This is the correct definition of a buying center. D) Purchasers or purchasing agents have the responsibility of negotiating the actual purchase made by this organization. This is the person who actually does the buying, but this is only one role in the entire buying center. E) This is a created term.

straight re-buy; Lecture page 46 A) Modified buy is not one of the types of "buyclasses" discussed in class or the text. B) A modified re-buy involves buying the same product but with a change in the product specifications, price, delivery schedule, or supplier. This is not a modified re-buy since only the quantity purchased changed. C) This is not one of the "buyclasses" discussed in class or the text. D) In a straight re-buy the buyer orders and existing product that they have bought in the past with no changes. This is the simplest type of purchase an organization can make and are done on a repeated basis. E) A new buy is the most complex type of buy. The organization is a first-time buyer of the product or service.