LSUS MBA 706 EXAM 1 PRACTICE SOLUTION
2026 SOLVED ITEMS CONFIRMED A+
◉ Issues in the buying process. Answer: 1. Describes the possible
range of activities that may occur in consumers' making purchase
decisions. Consumers don't always follow these processes in
sequence and may even skip stages en route to making a purchase
(e.g. impulse purchases or loyalty toward a product or brand)
2. Often involves a parallel sequence of activities associated with
finding the most suitable merchant of the product in question.
Consumers consider what product to buy and where they might buy
it at the same time. In the case of name brand products, this
selection process may focus on the product's price and availability at
different stores or online merchants
3. choice of a suitable merchant may actually take precedence over
the choice of a specific product. In some cases, consumers are so
loyal to a particular merchant that they will not consider looking
elsewhere. For example, if some consumers are fiercely loyal to
American car manufacturers, they may limit their product selection
to a single brand or dealership, greatly limiting their range of
potential product choices
◉ Need. Answer: Occurs when the customer's existing level of
satisfaction and desired level of satisfaction are not the same
,Based on the internal (e.g., hunger, thirst and fatigue) or external
(e.g., advertising, window shopping, interacting with sales people)
stimuli
◉ Want. Answer: Consumers' desire for a specific product that will
satisfy the need
◉ Demand. Answer: Occurs only when a consumer's ability and
willingness to purchase a specific product backs up the want for that
product
◉ Passive Information Search. Answer: consumer becomes more
attentive and receptive to information. E.g. noticing and paying
attention to automobile ads if the customer has a want for a specific
car/brand
◉ Active Information Search. Answer: customer purposely seeks
additional information, e.g. browsing the internet, asking friends, or
visiting dealer showrooms
◉ Sources of Information. Answer: External sources
Internal sources
◉ Internal sources. Answer: personal experiences and memories
,◉ External sources. Answer: advertising, websites, packaging,
display and salespeople
◉ Amount of time, effort, and expense dedicated to information
search depends on:. Answer: Degree of risk involved in the purchase.
Amount of expertise with the product category.
Actual cost of the search (time and money).
◉ Evoked Set. Answer: Narrowing down potential product choices
to a few products that can meet consumer needs
Represents the outcome of information search and the beginning of
the next stage of the buying process
Eliminating brands from further consideration after research
◉ Consumers evaluate products as bundles of attributes. Answer:
Each attribute has a different level of importance
Priority of choice criteria can change during the process (i.e. buying
a car and deciding on bundle features, safety vs prices)
◉ Important marketing considerations during the evaluation stage:.
Answer: 1. The marketer's products must be in the evoked set of
potential alternatives. For this reason, marketers must constantly
remind consumers of their company and its product offerings
, 2. Marketers must take steps to understand consumers' choice
criteria and the importance they place on specific product attributes.
Understanding the connection between customers' needs and
product attributes is an important consideration in market
segmentation and target marketing decisions.
3. Marketers must often design marketing programs that change the
priority of choice criteria or change consumers' opinions about a
product's image.
◉ Purchase Decision. Answer: Unforeseen circumstances can
interfere with consumer's decision to buy a product
Marketers overcome these factors by:
Reducing the risk of purchase
Making purchase easy
Finding creative solutions to unexpected problems
◉ Key issues in the purchase decision stage:. Answer: Product
availability
Possession utility
◉ Product availability. Answer: closely related to the distribution
component of the marketing program; convenience. It's goal is to put
the product within the consumer's reach wherever that consumer
happens to be
2026 SOLVED ITEMS CONFIRMED A+
◉ Issues in the buying process. Answer: 1. Describes the possible
range of activities that may occur in consumers' making purchase
decisions. Consumers don't always follow these processes in
sequence and may even skip stages en route to making a purchase
(e.g. impulse purchases or loyalty toward a product or brand)
2. Often involves a parallel sequence of activities associated with
finding the most suitable merchant of the product in question.
Consumers consider what product to buy and where they might buy
it at the same time. In the case of name brand products, this
selection process may focus on the product's price and availability at
different stores or online merchants
3. choice of a suitable merchant may actually take precedence over
the choice of a specific product. In some cases, consumers are so
loyal to a particular merchant that they will not consider looking
elsewhere. For example, if some consumers are fiercely loyal to
American car manufacturers, they may limit their product selection
to a single brand or dealership, greatly limiting their range of
potential product choices
◉ Need. Answer: Occurs when the customer's existing level of
satisfaction and desired level of satisfaction are not the same
,Based on the internal (e.g., hunger, thirst and fatigue) or external
(e.g., advertising, window shopping, interacting with sales people)
stimuli
◉ Want. Answer: Consumers' desire for a specific product that will
satisfy the need
◉ Demand. Answer: Occurs only when a consumer's ability and
willingness to purchase a specific product backs up the want for that
product
◉ Passive Information Search. Answer: consumer becomes more
attentive and receptive to information. E.g. noticing and paying
attention to automobile ads if the customer has a want for a specific
car/brand
◉ Active Information Search. Answer: customer purposely seeks
additional information, e.g. browsing the internet, asking friends, or
visiting dealer showrooms
◉ Sources of Information. Answer: External sources
Internal sources
◉ Internal sources. Answer: personal experiences and memories
,◉ External sources. Answer: advertising, websites, packaging,
display and salespeople
◉ Amount of time, effort, and expense dedicated to information
search depends on:. Answer: Degree of risk involved in the purchase.
Amount of expertise with the product category.
Actual cost of the search (time and money).
◉ Evoked Set. Answer: Narrowing down potential product choices
to a few products that can meet consumer needs
Represents the outcome of information search and the beginning of
the next stage of the buying process
Eliminating brands from further consideration after research
◉ Consumers evaluate products as bundles of attributes. Answer:
Each attribute has a different level of importance
Priority of choice criteria can change during the process (i.e. buying
a car and deciding on bundle features, safety vs prices)
◉ Important marketing considerations during the evaluation stage:.
Answer: 1. The marketer's products must be in the evoked set of
potential alternatives. For this reason, marketers must constantly
remind consumers of their company and its product offerings
, 2. Marketers must take steps to understand consumers' choice
criteria and the importance they place on specific product attributes.
Understanding the connection between customers' needs and
product attributes is an important consideration in market
segmentation and target marketing decisions.
3. Marketers must often design marketing programs that change the
priority of choice criteria or change consumers' opinions about a
product's image.
◉ Purchase Decision. Answer: Unforeseen circumstances can
interfere with consumer's decision to buy a product
Marketers overcome these factors by:
Reducing the risk of purchase
Making purchase easy
Finding creative solutions to unexpected problems
◉ Key issues in the purchase decision stage:. Answer: Product
availability
Possession utility
◉ Product availability. Answer: closely related to the distribution
component of the marketing program; convenience. It's goal is to put
the product within the consumer's reach wherever that consumer
happens to be
