MKTG 400 Exam questions and
answers rated A+
Derived demand - ANS✅✅the demand for industrial products and services is driven by, or derived
from, demand for consumer products and services.
Influencers - ANS✅✅affect the buying decision, usually by helping define the specifications for
what is bought. Though Harley may not decide or directly use the cloud storage, he'd like to have
input on the technology or capacity being chosen.
EX of influencer - ANS✅✅Harley, the information technology manager for an engineering firm,
was very involved in the purchase process for acquiring cloud storage for both current and archived
drawings and calculations that engineers generate. The vice president of operations made the final
choice. Here, Harley performed what function in the buying center?
EX of derived demand - ANS✅✅Refinery requests for crude oil are based on customer need for
gasoline. The demand for crude oil is referred to as ________ demand.
reverse auction - ANS✅✅buyer communicates a need for a product or service and would-be
suppliers are invited to bid in competition with each other. As more would-be suppliers become
involved, there is a downward pressure on bid prices for the buyer's business.
new buy - ANS✅✅the organization is a first-time buyer of the product or service. This involves
greater potential risks in the purchase, so the buying center is enlarged to include all those who have
a stake in the new buy.
ex of new buy - ANS✅✅From among the buy classes, Procter & Gamble's purchase of a
multimillion-dollar cloud-based data management system from Corning, Inc. for its corporate offices
in Cincinnati would be considered a _____________
Asia - ANS✅✅The dynamics of world trade are evolving; ________ is now the largest region
measured by world trade.
values - ANS✅✅A country's ___ are personally or socially preferable modes of conduct or states of
existence that are enduring
, customs - ANS✅✅what is considered normal and expected about the way people do things in a
specific country.
counter trade - ANS✅✅the practice of using barter rather than money for making global sales
Quota - ANS✅✅a restriction placed on the amount of a product allowed to enter or leave a
country
joint venture - ANS✅✅When a foreign company and a local firm invest together to create a local
business
Tarrif - ANS✅✅a government tax on goods or services entering a country, primarily serve to raise
prices on imports
-form of tax
-can discourage trade
-countries set on policies
-they can make local goods attractive
psychograohic segmentation - ANS✅✅is based on some subjective mental or emotional attributes
(personality), aspirations (lifestyle), or needs of prospective customers.
Consumer Demographics - ANS✅✅variables are based on some objective physical (gender, race),
measurable (age, income), or other classification attribute (household size, birth era, education,
occupation) of prospective customers.
geographic segmentation - ANS✅✅based on where prospective customers live or work (region,
city size).
Good - ANS✅✅has tangible attributes that a consumer's five senses can perceive. For example,
Apple's iWatch can be touched and its features can be seen and heard.
Services - ANS✅✅intangible products to provide consumers satisfaction
answers rated A+
Derived demand - ANS✅✅the demand for industrial products and services is driven by, or derived
from, demand for consumer products and services.
Influencers - ANS✅✅affect the buying decision, usually by helping define the specifications for
what is bought. Though Harley may not decide or directly use the cloud storage, he'd like to have
input on the technology or capacity being chosen.
EX of influencer - ANS✅✅Harley, the information technology manager for an engineering firm,
was very involved in the purchase process for acquiring cloud storage for both current and archived
drawings and calculations that engineers generate. The vice president of operations made the final
choice. Here, Harley performed what function in the buying center?
EX of derived demand - ANS✅✅Refinery requests for crude oil are based on customer need for
gasoline. The demand for crude oil is referred to as ________ demand.
reverse auction - ANS✅✅buyer communicates a need for a product or service and would-be
suppliers are invited to bid in competition with each other. As more would-be suppliers become
involved, there is a downward pressure on bid prices for the buyer's business.
new buy - ANS✅✅the organization is a first-time buyer of the product or service. This involves
greater potential risks in the purchase, so the buying center is enlarged to include all those who have
a stake in the new buy.
ex of new buy - ANS✅✅From among the buy classes, Procter & Gamble's purchase of a
multimillion-dollar cloud-based data management system from Corning, Inc. for its corporate offices
in Cincinnati would be considered a _____________
Asia - ANS✅✅The dynamics of world trade are evolving; ________ is now the largest region
measured by world trade.
values - ANS✅✅A country's ___ are personally or socially preferable modes of conduct or states of
existence that are enduring
, customs - ANS✅✅what is considered normal and expected about the way people do things in a
specific country.
counter trade - ANS✅✅the practice of using barter rather than money for making global sales
Quota - ANS✅✅a restriction placed on the amount of a product allowed to enter or leave a
country
joint venture - ANS✅✅When a foreign company and a local firm invest together to create a local
business
Tarrif - ANS✅✅a government tax on goods or services entering a country, primarily serve to raise
prices on imports
-form of tax
-can discourage trade
-countries set on policies
-they can make local goods attractive
psychograohic segmentation - ANS✅✅is based on some subjective mental or emotional attributes
(personality), aspirations (lifestyle), or needs of prospective customers.
Consumer Demographics - ANS✅✅variables are based on some objective physical (gender, race),
measurable (age, income), or other classification attribute (household size, birth era, education,
occupation) of prospective customers.
geographic segmentation - ANS✅✅based on where prospective customers live or work (region,
city size).
Good - ANS✅✅has tangible attributes that a consumer's five senses can perceive. For example,
Apple's iWatch can be touched and its features can be seen and heard.
Services - ANS✅✅intangible products to provide consumers satisfaction
