MARKETING 2500 EXAM 2 WMU (Latest
Update ) Questions & Answers
{Grade A} 100% Correct
Stages in the adoption process - correct answer 1. Awareness - aware but lacks
information
2. Interest - seeks information about the new product
3. Evaluation - decides whether trying the product makes sense
4. Trial - tries the product to improve estimate of value
5. Adoption - consumer decides to make full and regular use of product
5 different adopter categroies - correct answer each of which behaves differently
toward new products
- 2.5% innovators: first adopters, venturesome and try new things
- 13.5% early adopters: guided by respect, opinion leaders, adopt new ideas early but
carefully
,- 34% early majority: deliberate, adopt before the average person
- 34% late majority: skeptical, adopt after a majority of people
- 16% laggards: tradition bound: suspicious of change, adopt only when its something of
tradition itself
Business market - correct answer is vast and involves far more dollars and items
than do consumer markets - similar to consumer market but main differences are in
market structure and demand, the nature of the buying unit, and the types of decisions
and the decision process involved
Unique characteristics of business markets - correct answer market structure and
demand: contains far fewer but larger buyers, customers are more geographically
concentrated, business demand is derived from consumer demand.
Nature of the buying unit: business purchases involve more decision participants,
business buying involves a more professional purchasing effort.
, Types of decisions and the decision process: business buyers usually face more
complex buying decisions, business buying process tends to be more formalized,
buyers and sellers are much more dependent on each other.
Business buyer behavior - correct answer refers to the buying behavior of the
organizations that buy goods and services for use in the production of other products
and services that are sold, rented, or supplied to others.
Major influences on business buyer behavior - correct answer environmental,
organizational, interpersonal, individual
In the business buying process.. - correct answer business buyers determine which
products and services their organizations need to purchase and then find, evaluate,
and choose among alternative suppliers and brands
Update ) Questions & Answers
{Grade A} 100% Correct
Stages in the adoption process - correct answer 1. Awareness - aware but lacks
information
2. Interest - seeks information about the new product
3. Evaluation - decides whether trying the product makes sense
4. Trial - tries the product to improve estimate of value
5. Adoption - consumer decides to make full and regular use of product
5 different adopter categroies - correct answer each of which behaves differently
toward new products
- 2.5% innovators: first adopters, venturesome and try new things
- 13.5% early adopters: guided by respect, opinion leaders, adopt new ideas early but
carefully
,- 34% early majority: deliberate, adopt before the average person
- 34% late majority: skeptical, adopt after a majority of people
- 16% laggards: tradition bound: suspicious of change, adopt only when its something of
tradition itself
Business market - correct answer is vast and involves far more dollars and items
than do consumer markets - similar to consumer market but main differences are in
market structure and demand, the nature of the buying unit, and the types of decisions
and the decision process involved
Unique characteristics of business markets - correct answer market structure and
demand: contains far fewer but larger buyers, customers are more geographically
concentrated, business demand is derived from consumer demand.
Nature of the buying unit: business purchases involve more decision participants,
business buying involves a more professional purchasing effort.
, Types of decisions and the decision process: business buyers usually face more
complex buying decisions, business buying process tends to be more formalized,
buyers and sellers are much more dependent on each other.
Business buyer behavior - correct answer refers to the buying behavior of the
organizations that buy goods and services for use in the production of other products
and services that are sold, rented, or supplied to others.
Major influences on business buyer behavior - correct answer environmental,
organizational, interpersonal, individual
In the business buying process.. - correct answer business buyers determine which
products and services their organizations need to purchase and then find, evaluate,
and choose among alternative suppliers and brands
