STUDY GUIDE QUESTIONS AND SOLUTIONS
100% CORRECT
◍ Accommodation. Answer: Style of handling conflict focused on
empathy over self-interest
◍ Adaptive selling. Answer: Using social styles to customize a sales
approach to the specific customer
◍ administered vertical marketing system. Answer: Cooperation
between levels of a distribution channel where one member sets the
terms due to its size and influence
◍ advertising. Answer: Paid form of nonpersonal promotion
◍ amiable. Answer: People with this social style want to know "why"
◍ analytical. Answer: People with this social style want to know
"how"
◍ artificial intelligence. Answer: Intelligent machines (computers)
capable of learning and interacting
,◍ attitudes. Answer: Positive, negative, or ambivalent evaluation of
people, objects, event, activities, ideas, or anything else in the
environment
◍ attributes. Answer: Characteristics that define a product and will
influence the customer's purchase decision
◍ Avoidance. Answer: Style of handling conflict with little empathy
or self-interest
◍ B2B sales. Answer: Sales to another company that consumes the
product or services as part of operating the business or uses the
product in the assembly of the final product it sells to consumers
◍ Bait and switch. Answer: Fraudulent practice where an advertised
product is unavailable so a customer is guided to a more expensive
one
◍ Bargaining power of buyers. Answer: One of Porter's Five
Forces—the power of customers to drive down prices if supply
exceeds demand
◍ Bargaining power of suppliers. Answer: One of Porter's Five
Forces—the power of suppliers when there are few alternative sources
for the products' components
,◍ Bargaining. Answer: The fourth phase in the negotiation process,
where the parties seek an agreement
◍ BCG Matrix. Answer: Planning tool which uses a quadrant to map
the strategic position of a business brand based on the brand's market
share and the market's growth potential
◍ behavioral observation. Answer: Primary marketing research
technique involving formal or informal observation of customers and
noncustomers
◍ boycott. Answer: Voluntary and intentional refusal to buy products
from a certain person, company, or country for ethical or political
reasons
◍ brand equity. Answer: One of the drivers of customer equity, based
on how the customer assesses the value of the brand
◍ brand loyalty. Answer: The faithfulness of customer's to a
particular company and its products
◍ brand. Answer: The unique identity and associations of a company,
often captured in a design, sign, symbol, or words that identify a
product and differentiate it from competitors
◍ Bundling. Answer: Grouping related products together and pricing
them as a single product.
, ◍ business cycle. Answer: Expansions and contractions in the level of
economic activities (business fluctuations) around a long-term growth
trend
◍ business to business (B2B). Answer: Sales to another company that
consumes the product or services as part of operating the business or
uses the product in the assembly of the final product it sells to
consumers
◍ business to consumer (B2C). Answer: Sales directly to the
individuals who consume a finished product
◍ business-to-business (B2B). Answer: Sales to another company that
consumes the product or services as part of operating the business or
uses the product in the assembly of the final product it sells to
consumers
◍ business-to-consumer (B2C). Answer: Sales directly to the
individuals who consume a finished product for personal use
◍ Buyers. Answer: Individuals at an organization who are responsible
for the purchase contract, often a purchasing department
◍ buying center. Answer: Group of decision makers for a purchase by
an organization