UF MAR3023 EXAM 1 Exam fully solved & updated 2025-2026(latest version
verified for accuracy) | 2024\2025Latest!! UF MAR3023 FINAL EXAM 1
Categories of decision makers - ✔✔1. Low involvement:
- leads to routine problem solving. The decision maker doesn't go thru each of
the steps in the decision- making process.
- The steps in the decision making process are compressed or skipped all
togrether.
2. Moderate involvement:
- leads to limited problem solving
- the consumer has purchased the item many times before, but something in the
marketplace has thrown us off our routine
- decision maker does some info search and evaluation, but he/she doesn't go
thru each of the dteps of the decision making process.
3. High involvement
- leads to extended problem solving
- the decision maker would go through each of the five steps of the decision-
making process if the decision were a high-involvement one.
- buying a house, etc
Characteristics of organizational buying - ✔✔- the decision-making process that
organizations use to establish the need for products and services and to
identify, evaluate, and choose from alt brands and suppliers.
,Features:
1. Derived demand:
- demand for a product or service is based on the demand for the org's product
or service. BECAUSE an orgs demand is a derived demand, marketers have to
pay attention to trends in their organizational customer markets.
- these trends will have a direct effect on the company's sales of its products
and services to its org buyers
2. More formal decision process:
- orgs use rigorous decision making methods that typically involve approvals,
authorizations, and audits.
- org decision makers r held more accountable, and more money is involved
3. Larger decision-making unit
- org user's decision machining unit can be made up of lot of ppl, routine
purchases r made based on needs n opinions of many ppl
4. More specific criteria
- org purchases r made for specific reasons, so they need 2 fit a # of specific
criteria.
5. Relationship marketing
- altho relationship marketing can involve consumers, it originated in business-
to-business marketing.
- When an org buys goods or services from another org, its sometimes buying
more than a product, its buying a relationship.
~ "Buying center"
- decision-making unit that makes purchase decisions for an org. Not a specific
physical location or office.
,Characteristics of the marketing environemnt - ✔✔-constraining: the marketing
environment constrains the decisions that marketers can make. Certain
conditions either eliminate or necessitate specific decisions
-Multi-level: the marketing environment is complex, w some broad and some
narrow levels
-current vs future environment: markets are characterized by change. Marketers
must use what they know in the present to predict what their markets will be
like in the future. Marketers need to anticipate change as best as they can, so
they try to stay ahead of the curve by scanning the environment and saying on
top of trends
Constraints on marketing environment - ✔✔the marketing environment puts
certain constraints on businesses that they may or may not be able to
overcome.
-these constraints determine how much control a firm has on the overall
marketing environment.
-firms have 2 choices on how to position themselves w respect to environment:
1. adapt to environment (most common)
2. modify environment (hard to do, so few do)
Consumer decision making - ✔✔Influences:
1. marketing mix
, - the 4 controllable variables: product, price, promotion, and place.
- attempt to use these variables to control consumer decision making
2. psychological
- consumers psychological process, such as perception, learning, motivation,
and personality, affect his/her decision making/
3. sociocultural
- society's effects upon us
- influence of our parents, family, peers, social groups
- customer socialization: the process by which young ppl learn how to be
consumers.
4. situational factors
- the context in which an individual operates
- most the time consumer is unaware of situational influences
Basic Concepts
1. Consumer behavior is goal-directed.
- consumers make purchases to reach a particular consumption goal. (buy
toothpaste to make breath fresh)
2. Consumers exhibit bounded rationality:
- consumers are not completely rational about every purchase decision they
make.
- there are limits on how much ppl can think ab a purchase decision and who
much info they can absorb ab it
- pricing has an affect, ppl react 4 tims more negatively to paying more than
receiving a little less
3. Many of our daily purchase decisions are low-involvement decisions
verified for accuracy) | 2024\2025Latest!! UF MAR3023 FINAL EXAM 1
Categories of decision makers - ✔✔1. Low involvement:
- leads to routine problem solving. The decision maker doesn't go thru each of
the steps in the decision- making process.
- The steps in the decision making process are compressed or skipped all
togrether.
2. Moderate involvement:
- leads to limited problem solving
- the consumer has purchased the item many times before, but something in the
marketplace has thrown us off our routine
- decision maker does some info search and evaluation, but he/she doesn't go
thru each of the dteps of the decision making process.
3. High involvement
- leads to extended problem solving
- the decision maker would go through each of the five steps of the decision-
making process if the decision were a high-involvement one.
- buying a house, etc
Characteristics of organizational buying - ✔✔- the decision-making process that
organizations use to establish the need for products and services and to
identify, evaluate, and choose from alt brands and suppliers.
,Features:
1. Derived demand:
- demand for a product or service is based on the demand for the org's product
or service. BECAUSE an orgs demand is a derived demand, marketers have to
pay attention to trends in their organizational customer markets.
- these trends will have a direct effect on the company's sales of its products
and services to its org buyers
2. More formal decision process:
- orgs use rigorous decision making methods that typically involve approvals,
authorizations, and audits.
- org decision makers r held more accountable, and more money is involved
3. Larger decision-making unit
- org user's decision machining unit can be made up of lot of ppl, routine
purchases r made based on needs n opinions of many ppl
4. More specific criteria
- org purchases r made for specific reasons, so they need 2 fit a # of specific
criteria.
5. Relationship marketing
- altho relationship marketing can involve consumers, it originated in business-
to-business marketing.
- When an org buys goods or services from another org, its sometimes buying
more than a product, its buying a relationship.
~ "Buying center"
- decision-making unit that makes purchase decisions for an org. Not a specific
physical location or office.
,Characteristics of the marketing environemnt - ✔✔-constraining: the marketing
environment constrains the decisions that marketers can make. Certain
conditions either eliminate or necessitate specific decisions
-Multi-level: the marketing environment is complex, w some broad and some
narrow levels
-current vs future environment: markets are characterized by change. Marketers
must use what they know in the present to predict what their markets will be
like in the future. Marketers need to anticipate change as best as they can, so
they try to stay ahead of the curve by scanning the environment and saying on
top of trends
Constraints on marketing environment - ✔✔the marketing environment puts
certain constraints on businesses that they may or may not be able to
overcome.
-these constraints determine how much control a firm has on the overall
marketing environment.
-firms have 2 choices on how to position themselves w respect to environment:
1. adapt to environment (most common)
2. modify environment (hard to do, so few do)
Consumer decision making - ✔✔Influences:
1. marketing mix
, - the 4 controllable variables: product, price, promotion, and place.
- attempt to use these variables to control consumer decision making
2. psychological
- consumers psychological process, such as perception, learning, motivation,
and personality, affect his/her decision making/
3. sociocultural
- society's effects upon us
- influence of our parents, family, peers, social groups
- customer socialization: the process by which young ppl learn how to be
consumers.
4. situational factors
- the context in which an individual operates
- most the time consumer is unaware of situational influences
Basic Concepts
1. Consumer behavior is goal-directed.
- consumers make purchases to reach a particular consumption goal. (buy
toothpaste to make breath fresh)
2. Consumers exhibit bounded rationality:
- consumers are not completely rational about every purchase decision they
make.
- there are limits on how much ppl can think ab a purchase decision and who
much info they can absorb ab it
- pricing has an affect, ppl react 4 tims more negatively to paying more than
receiving a little less
3. Many of our daily purchase decisions are low-involvement decisions
