MGT 8803 LATEST 2026 EXAM QUESTIONS AND
SOLUTIONS GRADED A+
✔✔Reference Group - ✔✔People whose opinions influence an individual's attitudes and
purchasing behavior.
✔✔Opinion Leader - ✔✔A person who influences others' attitudes or behaviors due to
expertise or credibility.
✔✔Culture - ✔✔Shared values, beliefs, and customs that shape consumer preferences
and behaviors.
✔✔Business Buying Behavior - ✔✔The decision-making process used by firms to
purchase goods and services for production or resale.
✔✔Buying Center - ✔✔A group of people involved in organizational buying decisions,
each with specific roles.
✔✔Derived Demand - ✔✔Business demand that originates from consumer demand for
final goods.
✔✔Purchasing Specifications - ✔✔Written descriptions of what an organization intends
to buy and required performance standards.
✔✔Vendor Analysis - ✔✔A formal assessment of supplier performance to improve
purchasing decisions.
✔✔New-Task Buy - ✔✔A first-time purchase that requires extensive information
gathering and decision making.
✔✔Modified Rebuy - ✔✔A purchase decision involving some changes from previous
orders.
✔✔Straight Rebuy - ✔✔Routine repurchase of the same products under similar terms.
✔✔Product Life Cycle (PLC) - ✔✔The stages a product goes through: introduction,
growth, maturity, and decline.
✔✔Branding - ✔✔The process of creating and managing brand identity through names,
symbols, and designs.
✔✔Packaging - ✔✔Designing and producing the container or wrapper for a product to
protect and promote it.
, ✔✔Warranty - ✔✔A seller's promise regarding product quality and performance.
✔✔Place (Distribution) - ✔✔Ensuring products are available in the right quantities,
locations, and times to meet customer demand.
✔✔Channel of Distribution - ✔✔The network of firms or intermediaries moving products
from producers to consumers.
✔✔Direct Distribution - ✔✔A channel where a company sells directly to end customers
without intermediaries.
✔✔Indirect Distribution - ✔✔A channel using intermediaries such as wholesalers or
retailers to reach consumers.
✔✔Market Exposure - ✔✔The level of availability of a product: intensive, selective, or
exclusive distribution.
✔✔Intensive Distribution - ✔✔Selling through all suitable outlets to maximize product
availability.
✔✔Selective Distribution - ✔✔Using limited intermediaries to balance coverage and
control of product sales.
✔✔Exclusive Distribution - ✔✔Granting one intermediary per region exclusive rights to
sell a product.
✔✔Wholesaler - ✔✔An intermediary that sells goods to retailers or other businesses
rather than to end consumers.
✔✔Retailer - ✔✔A business that sells goods or services directly to final consumers.
✔✔Physical Distribution - ✔✔Activities involved in transporting, storing, and handling
goods to make them available to customers.
✔✔Logistics - ✔✔Coordinating the movement and storage of goods efficiently along the
supply chain.
✔✔Customer Service Level - ✔✔The performance standard that defines how well
distribution meets customer needs.
✔✔Transportation Modes - ✔✔Alternative shipping methods such as rail, truck, air, and
water—each with different costs and benefits.
SOLUTIONS GRADED A+
✔✔Reference Group - ✔✔People whose opinions influence an individual's attitudes and
purchasing behavior.
✔✔Opinion Leader - ✔✔A person who influences others' attitudes or behaviors due to
expertise or credibility.
✔✔Culture - ✔✔Shared values, beliefs, and customs that shape consumer preferences
and behaviors.
✔✔Business Buying Behavior - ✔✔The decision-making process used by firms to
purchase goods and services for production or resale.
✔✔Buying Center - ✔✔A group of people involved in organizational buying decisions,
each with specific roles.
✔✔Derived Demand - ✔✔Business demand that originates from consumer demand for
final goods.
✔✔Purchasing Specifications - ✔✔Written descriptions of what an organization intends
to buy and required performance standards.
✔✔Vendor Analysis - ✔✔A formal assessment of supplier performance to improve
purchasing decisions.
✔✔New-Task Buy - ✔✔A first-time purchase that requires extensive information
gathering and decision making.
✔✔Modified Rebuy - ✔✔A purchase decision involving some changes from previous
orders.
✔✔Straight Rebuy - ✔✔Routine repurchase of the same products under similar terms.
✔✔Product Life Cycle (PLC) - ✔✔The stages a product goes through: introduction,
growth, maturity, and decline.
✔✔Branding - ✔✔The process of creating and managing brand identity through names,
symbols, and designs.
✔✔Packaging - ✔✔Designing and producing the container or wrapper for a product to
protect and promote it.
, ✔✔Warranty - ✔✔A seller's promise regarding product quality and performance.
✔✔Place (Distribution) - ✔✔Ensuring products are available in the right quantities,
locations, and times to meet customer demand.
✔✔Channel of Distribution - ✔✔The network of firms or intermediaries moving products
from producers to consumers.
✔✔Direct Distribution - ✔✔A channel where a company sells directly to end customers
without intermediaries.
✔✔Indirect Distribution - ✔✔A channel using intermediaries such as wholesalers or
retailers to reach consumers.
✔✔Market Exposure - ✔✔The level of availability of a product: intensive, selective, or
exclusive distribution.
✔✔Intensive Distribution - ✔✔Selling through all suitable outlets to maximize product
availability.
✔✔Selective Distribution - ✔✔Using limited intermediaries to balance coverage and
control of product sales.
✔✔Exclusive Distribution - ✔✔Granting one intermediary per region exclusive rights to
sell a product.
✔✔Wholesaler - ✔✔An intermediary that sells goods to retailers or other businesses
rather than to end consumers.
✔✔Retailer - ✔✔A business that sells goods or services directly to final consumers.
✔✔Physical Distribution - ✔✔Activities involved in transporting, storing, and handling
goods to make them available to customers.
✔✔Logistics - ✔✔Coordinating the movement and storage of goods efficiently along the
supply chain.
✔✔Customer Service Level - ✔✔The performance standard that defines how well
distribution meets customer needs.
✔✔Transportation Modes - ✔✔Alternative shipping methods such as rail, truck, air, and
water—each with different costs and benefits.
